A Public Forum For Change To Polymer Banknotes

ounterfeit Au$50 Circulated

UPDATE Wednesday 17 February 2010
A leading Sydney radio station was heard by Richard Fahy to be issuing warnings to watch out for counterfeit $50 notes. Criminals have been targeting Western and Outer Western Sydney. The Reserve Bank cannot quantify the extent of the counterfeiting.

Faces on our notes draw a blank

MITCHELL TOY, CHRIS PEPPER
Decembers 27, 2009 12:00am

THEY live in your wallet or purse and you look at them in the face every day, but probably have no idea who they are.

The public has been left scratching their heads when asked to name the identities printed on our bank notes, sparking calls for the notes to be changed. Should the faces on our bank notes be changed and, if so, what’s your suggestion?

A Sunday Mail street poll showed 90 percent of respondents could not identify any of the nine people on the bank notes currently in production, except Queen Elizabeth.

All 20 respondents could identify the Queen, featured on the $5 note, white one could identify world-renowned soprano Dame Nellie Melba, printed on the $100. Michael Meneghetti, of bank note and coin collecting specialists Dowries, said online voting should be used to pick better-known faces to replace existing ones. “We should get people voting online and take a wiki kind of approach,” he said. “It depends on how many people would vote, but if it was done in a fair way, you would have to accept it.”

Richard Fahy, owner of Australia’s largest banknote collection house, The Right Note, said our currency was “badly in need© of a change. “Apart from two limited edition notes, the appearance of polymer currency has not changed at all since 1982,© he said. “The image of the Queen in particular has absolutely no relevance – she looks about 40 on the note, but she’s 82 now.©

Mr Fahy said Aussie landmarks and contemporary achievers such as retired general Peter Cosgrove and burns specialist Dr Fiona Wood should be considered. But head of note issue at the Reserve Bank, Michael Anderson, said the RBA was reluctant to charge the appearance of the notes. “Bank notes go through authentication machines and other identification processes,” he said.

“If they are changed, clearly we would have to reprogram machines and retrain staff which would come at a great expense.” Monash University’s senior lecturer in Australian History, Dr David Dunstan, said informing the public about Australian history would be a better approach.

“Perhaps if we had Kylie Minogue on the note she would be more recognisable, but I think we should better teach who are on the bank notes,” he said. “A common curriculum for Australian History might be the way forward instead of changing the notes.”

Typical of those surveyed in Rundle Mall who struggled with identifying the faces on banknotes was Scott Evans, of Blackwood.

“Australians should have a better understanding of their history, for sure,” he said. “Whether they do it through dollar notes or another way, that’s a different story.”

Annie Auld, of Angaston, suggested soprano Dame Joan Sutherland be included, along with Australian sprinter Cathy Freeman.

British-born Neil Sanders, of Para Hills, correctly identified David Unaiponwas on the $50 note.
“I think Sir Don Bradman should be on there,” he said.

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