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Don't be surprised: New $10 note to make debut

MONEY: Australia's new $10 banknote.
MONEY: Australia's new $10 banknote. Reserve Bank of Australia

GET ready for the newest generation banknote which will go into circulation in Australia tomorrow. 

Our $10 note is the latest piece of currency to undergo a redesign. 

Its design retains the images of Dame Mary Gilmore and AB 'Banjo' Paterson, and includes elements of their works.

The size is the same and uses the same colour palette as the existing $10 banknote.

The difference is in its added security to combat counterfeiting.

Reserve Bank of Australia governor Philip Lowe said the new $10 banknote is at the cutting edge of security against counterfeiting.

"I am pleased that from tomorrow people will start to see the new $10 entering their wallets and pockets, and that it continues the tradition of celebrating two of Australia's most prominent writers," Mr Lowe said.

 

MONEY: The RBA has added security measures on the newly released $10 banknote.
MONEY: The RBA has added security measures on the newly released $10 banknote. Reserve Bank of Australia

The top-to-bottom window contains multiple interactive elements, a patch with a rolling colour effect, fluorescent ink and raised printing. 

The banknotes also include a tactile feature to assist the vision-impaired community.

Existing $10 banknotes are still legal tender and can continue to be used, although they will gradually be withdrawn from circulation.

The next banknote to receive an upgrade will be the $50 banknote which is is expected to enter circulation in late 2018.

Other denominations in the series will be introduced in the following years with the redesign as a whole expected to cost $29 million. 

Topics:  editors picks general-seniors-news money



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