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Australia 50 Yrs Decimal Currency

2016 Proof Five Cent

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In 2016 the Royal Australian Mint released a full set of six pieces to commemorate fifty years since the introduction of decimal currency in Australia. The obverse of each of these pieces includes an internal Australian pre-decimal coin design underneath the Ian Rank-Broadley portrait of HM Queen Elizabeth II.

This five cent piece includes the iconic Kangaroo design by Kruger Gray that was used on Australian Pennies and Half Pennies. This internal coin features the simplified legend "AUSTRALIA" and has Gray's initials (KG) above the Kangaroo's tail. The outer obverse legend states "ELIZABETH II AUSTRALIA 2016 FIFTY YEARS". The reverse features Stuart Devlin's echidna design. Devlin's initials (SD) can be found directly beneath the denomination.

The internal coin design on the obverse of the 2016 Proof five cent (50 Years of Decimal Currency) piece with the initials of designer Kruger Gray (KG) on the right.

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. This coin celebrates this event.