Economy

New $10 banknote now in circulation

New $10 banknote now in circulation”

Governor Philip Lowe said the new $10 banknote contained the 'same world-leading security features as the new $5 note'.

THE new Australian $10 note enters general circulation today.

While it has a more modern design which makes counterfeiting the currency more hard, the new note has retained key aspects of the old note, including colour, size, and the people it portrays -writers Dame Mary Gilmore and Banjo Paterson - in order to make it easy to recognise and minimise disruption to businesses.

Remember when the new plastic $5 notes came into circulation a year ago and were immediately rejected by most vending machines which, it would appear, weren't future-proof?

The design of the new $10 banknote retains the images of Dame Mary Gilmore and AB "Banjo" Paterson and includes elements of their works - in microtext!

As for businesses with vending machines that reject the notes, well, it's basically a case of keep up or risk annoying staff at venues who will have to exchange the notes several times a day. These include the top-to-bottom window that contains multiple interactive elements, a patch with a rolling colour effect, fluorescent ink and raised printing.

It also has a tactile feature which has been added to assist the vision impaired.

Late next year a fresh $50 banknote is expected to enter circulation, with the remaining currencies to following in subsequent years. While the existing series of banknotes will be progressively withdrawn from circulation, they will retain their legal tender status and can continue to be used.



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