Australia Bank Note To Drop Monarch

It would be both disrespectful and incorrect to inform King Charles III he has been fired, but it is true future Australian $5 bank notes will not carry his majesty’s vignette.

Yes, the king, who became Britain’s monarch in 2022 when his mother Queen Elizabeth II died at the age of 96 will appear on Australia’s coins. The $5 Reserve Bank of Australia bank note was the last of Australia’s notes on which the monarch’s effigy appeared. The central bank made its decision to drop the new monarch from the $5 bill following consultation with the Labor Party government, which is in favor of making this change. As might be expected opponents of the Labor Party said they believed the decision was politically motivated.

Charles role as Australia’s head of state is primarily symbolic, a status he holds with additional countries around the world that were previously part of the Commonwealth of Nations. Some of these countries still depict the British monarch on their coins and bank notes. This may change in time.

The January 13 issue of the Canadian publication The Gateway editorialized, “Like flipping a coin, we recognize ourselves both as members of the Commonwealth and an independent nation, even if that uniqueness is most often captured by stereotypical icons, like the beaver or the maple leaf. The passing of her late majesty Queen Elizabeth II in September was followed by the succession of King Charles III. This transition has had Canadians wondering what will happen to our coin figurehead.”

A recent survey indicated 56 percent of Canadians don’t want the new king to appear on Canadian currency.

What is likely the final Canadian coin on which Queen Elizabeth appears is the $2 or Toonie, a ringed bimetal issue with black nickel finish on the ring issued as “a solemn tribute to Queen Elizabeth II that marks the end of a historic reign,” according to the Royal Canadian Mint. The public has suggested rather than calling this coin a Toonie the coin might be nicknamed the Canadian Goth Toonie or Emo Toonie.

Australia may be debating to what extent it wants to retain its constitutional ties to Great Britain, but for now its coinage speaks for itself. Treasurer Jim Chalmers said, “The monarch will still be on the coins, but the $5 note will say more about our history and our heritage and our country, and I see that as a good thing.”

Opposition leader Peter Dutton disagrees with the decision, comparing the decision to changing the date of Australia Day, which is Australia’s national holiday. Dutton demanded Australian Prime Minister Anthony Albanese “own up to it,” referencing Albanese’s decision to keep the king’s image off new $5 notes.

Since taking office Albanese has created the new position of assistant minister for the republic, laying the groundwork for an Australian republic that would sever constitutional ties with Great Britain. The new position is held by Matt Thistlethwaite, who previously said he would not remove the queen’s portrait from bank notes during her lifetime. Australians voted in a 1999 referendum proposed by a Labor government to maintain the British monarch as Australia’s head of state.

According to Dutton, “I know the silent majority don’t agree with a lot of the woke nonsense that goes on, but we’ve got to hear more from those people online.”

It is anticipated an Indigenous figure may appear on the new notes. The term First Australians refers to Australia’s Indigenous population. According to an RBA release, the new $5 bank note will honor “the culture and history of the First Australians. The other side of the $5 bank note will continue to feature the Australian parliament [building].” Officials added older bank notes will continue to circulate alongside the newer notes. Coins on which the late queen appears will remain legal tender “forever.”

The coins on which King Charles III will appear are anticipated to be issued during “the second half of this year,” according to Andrew Leigh, the assistant minister for competition, charities, and the treasury.