by Matthew Dunn
AUSTRALIA is set to lose its mind again with the release date of the new $10 note announced this week.
Reserve Bank governor Philip Lowe said the update currency will go into general circulation from 20 September and will offer the same features found in last year's new $5 note.
'The new notes contain the same world-leading security benefits as the $5 note, including a clear top-to-bottom window, and a tactile feature so that it can be recognised by vision-impaired members of the community," he said in his opening statement to the House of Representatives Standing Committee on Economics.
The note will feature two of Australia's biggest icons - prominent writers Dame Mary Gilmore and Banjo Paterson.
To ensure that the new banknotes can be used in day-to-day transactions across the country - including depositing machines - the Reserve Bank has been working with cash handlers, businesses and machine manufacturers in the lead up to the launch.
According to the Reserve Bank of Australia, the note will have the following features:
- A rolling colour effect when you tilt the banknote.
- Multiple security features in the clear top-to-bottom window.
- An image of the nib of a pen to represent Gilmore and Paterson's works as writers.
- A flying cockatoo that will move its wings and change colour when the note is titled.
- A sulphur-crested cockatoo
- A reversing number 10, which changes within the homestead on the note.
- An interpretation of the Bramble Wattle.
- Two raised bumps on each of the long edges of the banknote, which work as a tactile feature.
- A portrait of Banjo Paterson is based on a photograph taken when he returned from the Boer War in 1900
- The designer's interpretation of a horseman from the era of Paterson's writing.
- Tiny parts of text in multiple locations on the banknote that includes excerpts from The Man from Snowy River.
- A cockatoo and wattle branch printed with fluorescent ink and visible under UV light.
Once the new $10 is released, people will be able to continue using the existing series of banknotes with all previously issued banknotes remaining legal tender.
And when the currency comes into circulation, let's just hope it's better received than the $5 was last year.