Australia Removes Late Queen Elizabeth’s Image from Banknotes
VIVA – The Australian government announced on Thursday, February 2, 2023, to remove the late Queen Elizabeth II’s image on its $5 note with a design honoring Indigenous culture. The central bank’s decision to leave her successor King Charles III off the $5 note means no Britain-based monarch will remain on Australia’s paper currency.
The other side of the note, which the bank says will take years to design and print, continues to feature the Australian Parliament. The current A$5 note features a portrait of Queen Elizabeth, who passed away in September at 96. “This decision by the Reserve Bank Board follows consultation with the Australian Government, which supports this change,” the Reserve Bank of Australia (RBA) explained in a statement.
"The Bank will consult with First Australians in designing the $5 note. The new note will take several years to design and print. In the meantime, the current $5 note (with Queen Elizabeth's image) will continue to be issued. It will be usable even after the new note is issued."
"First Australians" refers to Indigenous Australians, or First Nation people, who comprise Aboriginal and Torres Strait Islander people and make up about 3.2% of the country's population.
Meanwhile, King Charles III will still be featured on Australian coins. Andrew Leigh, Assistant Minister for Competition, Charities, and Treasury, told ABC Radio that the Royal Australian Mint is expected to start producing coins in the second half of 2023.
Officials also confirmed that coins currently in circulation featuring the image of Queen Elizabeth will remain legal tender "forever".