Australia Banknotes: History, Notable Notes & Collecting Guide
Australia is the birthplace of the polymer banknote. From the pre-decimal pound to the plastic notes that changed money worldwide, Australian paper money tells a compact, well-documented story that rewards collectors.
Last updated: July 2026
The Australian dollar is the official currency of Australia, and its banknotes are collectible because Australia is the country that invented the polymer banknote. The world's first polymer note entered circulation here in 1988, and by 1996 Australia had become the first country with a complete polymer series, according to the Reserve Bank of Australia. Add the pre-decimal Commonwealth pound notes that came before, and Australia offers a coherent, affordable field to build around, running from paper pounds to the plastic notes now copied around the world.
What is the history of Australian money?
Australia used the Australian pound until 1966, then switched to the decimal Australian dollar, and in 1988 it pioneered the polymer banknote that its whole series now uses.
Before federation, the Australian colonies relied on British coin, private bank notes, and improvised currency. After the Commonwealth of Australia was formed, it issued its first national banknotes in 1913, denominated in the Australian pound of pounds, shillings, and pence. These pre-decimal notes circulated for more than half a century, through two world wars, and they remain one of the most rewarding fields in Australian collecting.
On 14 February 1966 Australia adopted decimal currency, replacing the pound with the Australian dollar at a rate of two dollars to one pound. The dollar is divided into 100 cents and is issued by the Reserve Bank of Australia, the nation's central bank. The first decimal notes were printed on paper, like money almost everywhere else at the time.
That changed in 1988. To mark the bicentenary of European settlement, the Reserve Bank of Australia issued a ten dollar note printed on polymer, a thin, durable plastic film, developed with the national science agency, the CSIRO. According to the Reserve Bank of Australia, it was the world's first polymer banknote. Australia then converted its entire family of notes to polymer through the 1990s, beginning with the five dollar note in 1992 and completing the set in 1996, which made it the first country in the world to have a full series of polymer banknotes in circulation.
Which Australia banknotes are most collectible?
The most collectible Australian notes are the pre-decimal Commonwealth pound notes, the first 1966 decimal series, and the landmark 1988 polymer note that started a worldwide change.
Australian paper money divides neatly into eras, and most collectors organise their sets around these landmarks. The table below is a general guide to the main periods, not a price list, since condition and rarity drive value within each one. Ask a source-first dealer for specific catalog references and current availability rather than trusting a fixed price sheet.
| Era / series | Period | What defines it | Why collectors want it |
|---|---|---|---|
| Commonwealth pound notes | 1913 to 1966 | Australia's first national notes, in pounds, shillings, and pence | Foundational pre-decimal issues; early signature combinations are prized |
| Star / replacement notes | Mid-1900s | Replacement notes marked with a star in the serial number | Scarcer than regular notes, a favourite specialty within the hobby |
| First decimal series (paper) | From 1966 | Australia's first dollar notes, still printed on paper | The debut of the Australian dollar and decimal currency |
| 1988 $10 polymer commemorative | 1988 | World's first polymer banknote, for the bicentenary | A genuine landmark in world banknote history |
| Full polymer series | 1992 to 1996 | Every denomination converted to polymer | The first complete polymer set in the world |
| Current polymer series | 2016 to 2020 | Redesigned notes with raised tactile features for the vision-impaired | The newest chapter, modern and highly secure |
Within any era, collectors pay close attention to condition, early serial-number prefixes, replacement notes, and signature combinations. A note in uncirculated condition or with a very low serial number is far more desirable than a well-worn example of the same design.
How do you start collecting Australia banknotes?
Pick an era that appeals to you, decide whether you want raw or certified notes, learn the grading ladder, and buy from a source-first dealer that authenticates every note.
Because Australia's monetary history is compact and well catalogued, beginners benefit from choosing a lane. You might collect the pre-decimal pound notes, the first 1966 decimal series, or the polymer notes that begin with the historic 1988 ten dollar note. If you are new to the hobby, our guide on how to collect world banknotes walks through choosing a focus and making a safe first purchase.
Condition is most of a note's value, so learn the grading ladder early. Higher-value Australian notes are often independently graded by PMG or PCGS on a 1 to 70 scale, and our banknote grading guide explains what those grades mean and how they affect price. It also helps to know the vocabulary of the hobby, from prefixes to replacement notes, which our banknote glossary lays out in plain terms.
Where can you buy Australia banknotes?
Buy Australia notes from an established, source-first dealer that authenticates every note, offers independent grading on higher-value pieces, and includes a Certificate of Authenticity.
The safest way to build an Australian collection is to choose where you buy as carefully as what you buy. Look for a dealer that sources notes directly from mints, central banks, and authorized distributors rather than reselling anonymous lots, and that stands behind each note in writing.
Watch for these warning signs. Prices far below every other seller, no stated provenance or sourcing, no returns accepted, and pressure to buy quickly. Genuine dealers are transparent about where a note came from and how it is authenticated.
Every note in Planet Banknote's Australia banknotes collection is inspected through the Planet Banknote Verified process and ships with a free Certificate of Authenticity, so you can start or extend an Australian set with confidence.
Related guides
- How to Collect World Banknotes: choosing a focus, raw versus graded notes, and a safe first purchase.
- Banknote Grading Guide: how the PMG and PCGS 1 to 70 scale works, and what UNC and EPQ mean.
- Banknote Glossary: plain-English definitions for prefixes, replacement notes, grades, and more.
Frequently asked questions
What currency does Australia use?
Australia uses the Australian dollar, ISO code AUD and symbol $, issued by the Reserve Bank of Australia. The dollar was introduced on 14 February 1966, when it replaced the Australian pound at a rate of two dollars to one pound. It is divided into 100 cents. Today every Australian banknote is printed on polymer rather than paper.
What was the world's first polymer banknote?
The world's first polymer banknote was Australia's ten dollar note, issued in 1988 to mark the bicentenary of European settlement, according to the Reserve Bank of Australia. It was developed by the Reserve Bank together with Australia's national science agency, the CSIRO, to make notes more durable and harder to counterfeit. This innovation made Australia the pioneer of the polymer banknotes now used in many countries around the world.
When did Australia change its whole series to polymer?
After the 1988 commemorative note, Australia converted its entire family of banknotes to polymer during the 1990s, beginning with the five dollar note in 1992 and completing the series in 1996, according to the Reserve Bank of Australia. This made Australia the first country in the world to have a full set of polymer banknotes in circulation. A newer polymer series, with raised tactile features to help people who are blind or have low vision, was rolled out between 2016 and 2020.
What is an Australian pound note?
Before decimal currency, Australia used the Australian pound, which circulated from 1910 until 1966. The Commonwealth of Australia issued its first national banknotes in 1913, and these pre-decimal notes, denominated in pounds, shillings, and pence, are a distinct and popular collecting field. Early Commonwealth notes, wartime issues, and rare signature combinations are especially sought after.
How do you start collecting Australian banknotes?
Choose a focus that appeals to you, such as the pre-decimal pound notes, the first 1966 decimal series, or the polymer notes that begin with the historic 1988 ten dollar note. Decide whether you prefer raw or independently graded notes, learn the grading ladder, and buy from a source-first dealer that authenticates every note and provides a certificate of authenticity. Our guide on how to collect world banknotes walks through choosing a focus and making a safe first purchase.
Planet Banknote is a family-owned dealership in Sarasota, Florida, founded in 2021. Every note is sourced direct from mints, central banks, and authorized distributors, inspected through our Planet Banknote Verified process, and ships with a free Certificate of Authenticity. US orders ship free via USPS Priority, and every order includes a free bonus gift.