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The Australian Pound was the money of Australia from 1910 until 1966. It was made up of 20 shillings, with each shilling made out of 12 pence. In 1966, the basic unit of currency was changed from the Australian pound to the Australian dollar which had 100 cents to each dollar. 1 pound became 2 dollars, 1 shilling became 10 cents and 1 penny became 1 cent.
Coins[change | change source]
British coins were used until 1910, when Australian silver coins started to be made and used. There were florins, shillings, sixpences and threepences. They had a picture of King Edward VII of the United Kingdom on one side. Australian pennies and half-pennies started to be used the next year. In 1931 gold sovereigns, which had also been used before 1910, stopped being made in Australia. A crown (five shilling) coin was made for use between 1937 and 1938. People did not like them very much so you would not have seen them often after 1940. By 1966, the coins being used were half pennies, pennies, threepences, sixpences, shillings and florins.
Banknotes[change | change source]
In the early 1800s, some banks printed their own paper money in Australia. The Queensland government and the New South Wales government also made paper money to be used in their states.
The first paper money to be used all over Australia were made by fifteen banks and the Queensland government made between 1910 and 1914. There were 1, 5, 10, 20, 50 and 100 Pound banknotes. They had "Australian Note" printed on them. None of the 100 pound notes are known to still exist.
In 1913 the first money to be printed and used by the Australian government were 10 shillings, 1 pound, 5 pounds and 10 pounds. In 1914 20 pounds, 50 pounds, 100 pounds and 1000 pounds were also printed. The 1000 pounds note was such a high value banknote that you could only use them in banks.
In the middle of the 1920s a new 10 shilling banknote (saying "Half Sovereign"), and smaller 1, 5 and 10 pound notes were made. They all had King George V of the United Kingdom on the front.
A new design was printed in 1933 with King George V, also in 10 shillings, 1, 5 and 10 pounds. The notes were changed to have King George VI of the United Kingdom in 1938.
New notes in 1954 came when Queen Elizabeth II became Queen. There were 10 shillings, 1, 5 and 10 pound notes with images of Matthew Flinders on the 10 shilling note, Queen Elizabeth II on the 1 pound note, John Franklin on the 5 pound note and Arthur Phillip on the 10 pound note.