1 Australian Dollar: A Brief Overview
The Australian dollar (AUD) is the official currency of Australia and is used by the country's citizens, businesses, and government. In this article, we will delve into the history, design, and security features of the 1 Australian dollar coin.
History of the Australian Dollar
The Australian dollar was introduced in 1966, replacing the Australian pound as the official currency. The decision to introduce a decimal-based currency was made to simplify financial transactions and bring the country in line with other major economies.
Design and Security Features
The 1 Australian dollar coin features the image of Queen Elizabeth II on the obverse (front) side, while the reverse (back) side displays the image of the kangaroo, a symbol of Australia. The coin is made of a copper-nickel cladding and has a diameter of 25 millimeters.
Security Features
To prevent counterfeiting, the 1 Australian dollar coin has several security features, including:
- Micro-printing: Tiny text is engraved on the coin, which can only be read with a magnifying glass.
- Inkwell: The coin features a special inkwell that changes color when tilted.
- Window: A transparent window on the coin that shows a kangaroo motif.
Circulation and Uses
The 1 Australian dollar coin is commonly used in everyday transactions, such as purchasing small items or paying for public transportation. It is also widely accepted by vending machines and parking meters.
Conclusion
The 1 Australian dollar coin is an integral part of Australia's currency system, with a rich history and robust security features to prevent counterfeiting. Its widespread use in daily transactions makes it an essential part of Australian commerce.
