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After Federation in 1901, the usual committees were formed to decide on everything. The new Australian currency was to be based on the British sterling currency.
In 1910, Australia's first coins were introduced. They included the sterling silver Threepence, Sixpence, Shilling and Florin (Two Shillings).
The following year in 1911, the Australian bronze Penny and Halfpenny were issued.
All of these coins were made at the Royal Mint in London and continued to be for the next few years until, by 1919, Australia was minting all of its own coins, most of the time.
Australian banknotes started appearing in 1913 and during the next few years, Australia had the following paper banknotes -
Ten Shillings, One Pound, Five Pounds, Ten Pounds, Twenty Pounds, Fifty Pounds, One Hundred Pounds and even One Thousand Pound notes.
The following Australian banknote denominations continued until decimalisation in 1966 - Ten Shillings, One Pound, Five Pounds and Ten Pounds.
The Twenty Pounds, Fifty Pounds, One Hundred Pounds and One Thousand Pound notes had all been withdrawn by, or during World War 2.
The One Thousand Pound note was used for transactions between banks.
Wiki User
∙ 11y ago
Wiki User
∙ 10y agoThe first truly Australian currency, which was not borrowed from the British, entered circulation in 1911.
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