New $50 banknotes out now

The next generation of $50 banknotes have just entered general circulation.

It marks the third denomination in the new series of banknotes. It also follows the release of the $5 and $10 over the past two years. The new $20 will be issued in 2019 and the new $100 in 2020.

“We were keen for the new $5 and $10 to be well accepted before we launched the most popular note, the $50,” Governor Philip Lowe said.

“This has involved working closely with businesses to assist cash handlers and cash-handling machines to identify and use the notes, which will help minimise disruption to people and businesses.”

The new $50 retains the basic design elements from the previous series. It features portraits of indigenous writer and inventor, David Unaipon, and Australia’s first female member of parliament, Edith Cowan. They were both campaigners for social change and several design elements on the banknote recognise their work.

The microprint includes excerpts of Unaipon’s book, Legendary Tales of the Australian Aborigines, and Cowan’s first speech to the WA parliament.

Security and ‘tactile’ features

The new banknote also has the same security features as the $5 and $10 to deter counterfeiting. It has a top-to-bottom clear window that contains a number of dynamic features. These include a reversing number and flying bird, as well as microprint and a patch with a rolling colour effect.

Additionally, it has a ‘tactile’ feature – four raised bumps on each of the long edges of the banknote. These will help the vision-impaired community distinguish between different denominations of banknote.

The existing series of banknotes will be progressively withdrawn from circulation. But they will retain their legal-tender status and will still be accepted.

Similar Articles

417FansLike
541FollowersFollow
624FollowersFollow

Most Popular

Industries most impacted by COVID-19

In mid-March over 60% of Australian businesses report being affected by the COVID-19 coronavirus. This is up from a massive 45% points from a month...

The bakery behind ALDI’s own brand

As ALDI expands into new Australian markets, the retailer is forging new partnerships with suppliers that can meet the high standards of its exclusive...

Spotlight on Australia’s supermarkets and grocery industry

By Jessica Mudditt. IBISWorld’s ‘Supermarkets and Grocery Stores in Australia’ report describes Australia’s supermarket and grocery industry as “fiercely competitive” and highly concentrated. ALDI’s rapid...