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Friday May 24, 2013

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Do we need Next Gen Bank Notes?

Posted by: 2UE | 27 September, 2012 - 7:58 AM
The great carbon tax cash splash to hide the real tax pain?

The Reserve Bank of Australia has been working on creating new, "youthful"-looking bank notes for the past five years, it's been reported. Jason Morrison on the $9.3 million project, Next Generation Bank Note.


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Designers have been supplied with new portraits of the notes' subjects and asked to capture Australian characteristics with "youthful" and "energetic design qualities", it says.

The RBA had toyed with the notion of removing Queen Elizabeth II from the $5 note in favour of subjects including Henry Parkes - known as the father of federation - but scrapped the idea last year.

A bank spokesman has confirmed the project, saying it was taking place to ensure Australia maintained its "relatively low levels of counterfeiting".

The notes would include new security features but retain most of the existing design elements including colour, size and their current portraits, the spokesman said.

The bank also said it will take several years before the first upgraded notes are issued.

The initiative followed research by the bank that found most Australians couldn't name the faces on their national currency.

Melbourne designer Garry Emery, who worked on the existing note design, has confirmed he is working with the bank on the new polymer note project.

The bank approved new designs by Emery for further development in 2010, the report says. (AAP)

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In an effort to keep fraudsters on the back foot, the Reserve Bank of Australia (RBA) is working to incorporate new anti-counterfeit technologies into the country's banknotes.

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Blog comments Your Say

  • I would like Julia Gillard to be depicted on an Australian note.
    The twenty dollar note would be perfect for her because it's red and like her place in australian political history in generations to come....she would be invisible.

    Danny Dix Saturday 29 September, 2012 - 1:03 PM

  • What we need is to get rid of the foreign owned 'reserve bank of Australia' and have our own bank where we print our own money. That way we are not tied to a central bank in London to whom we have to pay interest to. In fact if we had our own bank we wouldnt have to pay interest period!

    Robert Thursday 27 September, 2012 - 12:15 PM

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