Decimalisation 14 February 1966

Australian currency was decimalised on 14 February 1966. Leading up to the changeover from the old English nomenclature of pounds, shillings and pence to dollars and cents, there had been considerable discussion regarding the appropriate, name for the new currency.
Prime Minister Menzies tied his colours to the monarchist mast when he proposed that the basic unit should be called the Royal; howls of protest rebuffed his suggestion.

The decision was made to call the basic unit the ‘dollar’. This was in itself controversial at the time, as it seemed to tie Australia’s future, ideologically, to the fortunes of the United States of America.

The original $1 note was replaced in May 1984 by a $1 coin; the $2 note was also replaced by a smaller coin in June 1988. The world’s first polymer notes were introduced

The first paper notes in January 1988 with the release of the $10 bicentennial note. These ‘plastic’ notes were promoted as virtually indestructible; the first thing many did when they got hold of one of them was try to tear them; many succeeded.