Are paper banknotes used in Australia?
I understand that Australia first released plastic banknotes in 1988, which replaced the paper dollar notes that had first been issued in 1966. Are any pre-plastic paper notes still around, and are they still legal tender? I may have a few paper notes tucked away somewhere, and since I'm going to Australia (hopefully!) this summer, I was wondering if I could use them.
Best Answer
From the Reserve Bank of Australia: Redeeming Old Banknotes
All Australian banknotes that have previously been issued into circulation by the Reserve Bank remain legal tender and can continue to be used.
and
All previous issues of Australian banknotes retain their legal tender status. However, it is a long time since some of these banknotes were issued into circulation in Australia and some retailers or members of the public may be reluctant to accept them. People may be unfamiliar with the designs and may suspect the banknotes to be counterfeit.
Most commercial banks will redeem old Australian banknotes at face value. A commercial bank may require some time to confirm that a banknote from a previous series is genuine or may need to send such banknotes to the Reserve Bank for confirmation.
The also mention collectors
Some old banknotes may be valuable as collector items. The Reserve Bank does not provide opinions concerning the market value of old, rare or misprinted banknotes. Collectors may wish to have their banknotes appraised by a reputable banknote and coin dealer. The Reserve Bank doesn't endorse any particular organisation, but a number of Australian banknote and coin dealers are members of the Australasian Numismatic Dealers Association Inc.
But what I find interesting is that pre-decimal currency can still be redeemed.
For the exchange of pre-decimal banknotes, the conversion to dollars is obtained by multiplying the face value by two. For example, a £1 banknote converts to $2; £5 converts to $10; and £10 converts to $20. The only exception to this is the 10 shilling banknote, which converts to $1.
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When did Australia stop using paper notes?
Australian paper banknotes were phased out in 1982 with the commencement of the One Dollar to the end of paper money with the Hundred Dollar in 1996. The One Dollar with the signature combination of Johnston/Stone was phased out in 1982 to be replaced with the One Dollar Coin.Is Australian money paper or plastic?
They were first issued as currency in Australia during 1988 (coinciding with Australia's bicentennial year); by 1996, the Australian dollar was switched completely to polymer banknotes.Does Australia have paper money?
Australian dollar notes are made of a polymer, which has a waxy feel, while the banknotes of the U.S. and several other countries are made of cotton fiber paper. Polymer banknotes tend to last two to three times longer than paper notes.When did Australian money change from paper to plastic?
The first polymer series of Australian banknotes was issued between 1992 and 1996. It was the first in the world to be printed on polymer substrate instead of paper. The first denomination in the eighth series was issued on 1 September 2016.$$$ Best Australian paper banknotes to collect $$$
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