Australia Australia, Oceania Paper Money: World Coins & Paper Money
Australian paper money presents interesting opportunities for the collector of banknotes. Australia, as a British colony, and later as it formed the Federation of the Commonwealth of Australia in 1901, followed the cumbersome pre-decimalization English pound system. The Guinea with twenty-one shillings to the pound was added to the system, further complicating it. In February of 1966, Australia simplified its paper money and moved to a decimal system of currency.
Discount & Bargain
Sir Robert Menzies, the prime minister at the time of decimalization, was staunchly loyal to the British crown. He announced that the basic currency was to be changed from the pound to the Royal. The widespread outcry over this announcement convinced him to name the new currency the “Dollar” instead, similar to the US, Canada and Hong Kong. The first issue of Australian decimalized paper money had 4 denominations. The ten shilling note became a one-dollar note, a five-dollar note was added to replace the five-pound note, and the ten-pound note gave way to the ten-dollar note. The paper money was quite colorful, and each note was slightly larger than its next-less valuable companion.
Many things can influence the resale value of Australian paper money. The rarity of the banknote, its initial face value, its historical context, and the quality of the engraving and printing can all affect the value of Australian paper money amongst collectors. there are quite a few references sources to help you evaluate the prices and value of world paper money, such as The Standard Catalog of World Paper Money published by Krause.
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