As the sixth largest country in the world, Australia packs a punch when it comes to tourist possibilities. It is a land of rain forests, beaches, mountains, lagoons and the famous “outback.” It has 8 states and territories. Its monetary unit is the Australian dollar. This trades under the ISO symbol of AUD. The current rate is 100 cents equal 1 dollar.
History
Australia is a country based on immigration. Its early coinage is consistent with the population and its status as a port country. From 1788, the coinage varied with Portuguese, Indian, Spanish and British money all present and viable. There was, in fact, a shortage of money resulting in barter. The coin in this instance being rum.
In 1800, the governor, Philip Godley King fixed the values of the circulating coinage for the colony of North South Wales. During that same period, Britain began to ship coins to the country. These were the “cartwheel pennies.” In 1813, the next governor “created” local money from Spanish dollars. The hole punched from the middle had a value of 15 pence while the remaining outer ring of the coin became the colonial dollar worth 5 shillings. The man who produced these “holey” dollars and stamped them was William Henshall. Henshall had been forced to leave England, deported to Australia on forgery charges.
Between 1824 and 1826, Britain
continued to import the British pound. The holey dollar, however,
remained as legal currency until 1829. By then, sterling silver money
ended the use of the dollar coinage and from 1829-1910, the only legal
tender was the imported British currency.
Other places in Australia
still issued tokens of copper and bronze. Usually the coins were half
or full pennies. By 1863, however, such practices became outlawed. The
official mint in the country began production in 1855 after the
discovery and employment of the gold mines. A further measure included
production of sovereigns and ½ sovereigns with Australian
characteristics. This period was brief, however, as in 1871 the money
featured British designs on British-style coins.
In 1901, Australia became a commonwealth. In 1910, the first coins of the Commonwealth of Australia rolled off the line. Yet, the first decimal coin did not emerge until 1966. Until then, Australian coinage and banknotes were British in flavor and amounts. Designs incorporated Australian flora and fauna but remained strictly English in amount with the British Monarch on the obverse.
In 1966, Australia jettisoned the pound for the dollar. The new unit featured cents and dollars, banknotes and coins. The front still sported the British Monarch but the back always featured Australian animals and landscape. In 1984, the dollar coin appeared followed by the 2-dollar coin in 1988. Today there are 5, 10, 20 and 50- cent coins as well as 1 and 2 dollar coins. Banknotes consist of 5, 10, 20, 50 and 100-dollars.
Obtaining Currency
The Reserve Bank of Australia is the official bank of the country. If you wish to exchange money, you can do so with local banks, ATMS, Eftpos machines and other private and public institutions. You can also make exchanges at the international airports.
Protecting Your Currency
Take the usual precautions when travelling. These include not wandering into unknown regions without a guide or the company of another individual. Do not leave your wallet, backpack or purse lying around. Always be aware where your money is and whether it is too easily accessible by the wrong hands.
Using Your Australian Dollar
The country’s currency is essential for purchasing items. You can use bankcards, credit cards and other forms of plastic, but cash is best for such things as taxi rides in Sydney or Melbourne. It is also good for many purchases and entry fees to local museums or attractions.
Travel Tips and Warnings
- You cannot import with you or in your luggage a wide variety of objects. Check to see whether the feathers, fruit or skins you have are prohibited by law.
- Remember, Australia has both familiar animals such as the kangaroo and the koala and some very poisonous and dangerous creatures. There are fresh and saltwater crocodiles. Australia is also home to the largest number of poisonous snakes on the planet.
- Be sure to visit all parts of Australia. Do not ignore Tasmania with its Maritime Museum of Tasmania at Hobart or Oak Lodge on this island’s Georgian town of Richmond.
- Go to Melbourne to see the Royal Exhibition Building and visit the outback of New South Wales.
- There are the Blue Mountains, a popular holiday region in NSW and the Phillip Islands Nature Park in Victoria State. Drive along its Great Ocean Road.
- A must see is the Daintree Rainforest with its biodiversity.
- Dive off and into the Great Barrier Reef or laze on the beaches of Queensland.
- Attend a performance of any kind at the Sydney Opera House.
Overview
Australia
is both a country and a continent. It has a western economy. Travelling
across and around Australia creates some challenges due to the
different land types, climates and terrains. Only the usual precautions
exist for both tourists and locals regarding money. The large number of
venomous snakes and other potentially dangerous animals from spiders to
reptiles to mammals requires you take precautions. It is their
environment and you are the intruder.
Enjoy the sun, the beaches, the skiing, the rainforest and the culture. For factual information and data, go to www.Australia.com. For travel information, see www.about-australia.com
Currency Overview
Previous major money: British system with pounds, shillings, pence
Current currency: dollar
100 dollars equal 1 dollar.
Coins: 5, 10, 20, and 50-cents; 1 and 2-dollars
Banknotes: 5, 10, 20, 50, 100 dollars.