Australian Banknotes Last Paper Issues

As Australia’s leading rare banknote specialist the question most asked by email and telephone is, what my banknote collection is worth?

We offer a free service to client’s worldwide, enquiries range from the rarest of banknotes issued in Australia and internationally, these banknotes are researched and valued for all clients as part of our complimentary service.

The most common question we are asked is what Australian last paper banknotes issued are currently worth.
Australian paper banknotes were phased out in 1982 with the commencement of the One Dollar to the end of paper money with the Hundred Dollar in 1996.

The One Dollar with the signature combination of Johnston/Stone was phased out in 1982 to be replaced with the One Dollar Coin. The Two Dollar with the signature combination of Johnston/Fraser was phased out in 1984, to be replaced with the two dollar coin in that same year.


As these were the first two paper banknotes to be phased out in favour of coinage, the Reserve Bank of Australia instructed Note Printing Australia to have a final print run totalling many hundreds of millions. Well beyond any anticipated public spending of this money.

The expectation was the Australian public would store these banknotes for generations to come looking for a good capital growth, whether purchased in bundles, or multiple numbers. Expectations of collectors could not be based on previous historical fact. Up to this time Australian banknotes had never been replaced by coins.
There was ample notice given in advance well before this change from paper money to coinage by The Reserve Bank.

These banknotes were sold to the public in bundles of 100 and in multiples through The Reserve Bank or your local bank, to this day this is the most requested question of The Right Note on this subject.
There are no available figures from on line sources or government sources, just how many were printed of all denominations.

We offer to all readers the following phasing out of Australian paper money from 1982 to 1996, their original purchase price, and their current recommended retail price.

All banknotes are quoted in uncirculated grades only. Banknotes below this grade are only worth their face value. Unless otherwise confirmed by a trusted and reputable Australian banknote dealer.

These prices are quoted as recommended retail prices, and not reflective of a wholesale price.

Source McDonalds Australian Coins and Banknotes nineteenth edition 2012.*

SignatureYear of WithdrawalIssue PriceRecommended Retail
One DollarJohnston/Stone1982$1$7
Two DollarJohnston/Fraser1984$2$9
Ten DollarFraser/Cole1991$5$25
Twenty DollarFraser/Evans1993$20$110
Fifty DollarFraser/Evans1993$50$200
One Hundred DollarFraser/Cole1996$100$340

Copyright: Richard Edward Fahy. July 2012.