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Australia 40th Anniversary of Pre-Decimal Coins

2006-P Proof Silver One Dollar

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In 2006 the Perth Mint released this one dollar coin to commemorate 40 years since the final pre-decimal coins were issued. The coin features an interesting locket containing miniature pre-decimal coins. The reverse features the legend 'AUSTRALIAN PRE-DECIMAL COINS 2006.' The obverse features the Ian Rank-Broadley effigy of HM Queen Elizabeth II with the legend 'ELIZABETH II - AUSTRALIA - 1 DOLLAR.'

The Australian pound came into being in 1910 and lasted until 1966. The currency was awkward, with each pound being subdivided into 20 shillings each of 12 pence. In the 1950s the economic importance of switching to a decimal currency became heavily discussed. The key argument was that the pound made financial transactions unnecessarily difficult, it was calculated that this difficulty caused the loss of more than £11 million to the Australian economy every year. After much political debate the 14th of February 1966 was chosen as Changeover Day - when the new Australian decimal dollar took over.