The Reserve Bank of Australia (RBA) has rolled out the updated $10 note, which incorporates new security features intended to deter counterfeiters.
Approximately 120 million of the new $10 notes have been printed, at a total value of almost 1.2 billion dollars. This accounts for eight percent of the total number and two percent of the total value of Australian banknotes, according to figures released in June 2016. "The Bank has produced enough new banknotes to replace all those in circulation," an RBA spokesman told Print21.
The banknote, launched a year after the revised $5 bill, retains the images of AB 'Banjo' Paterson and Dame Mary Gilmore from the old design. It adds security features similar to the new-look $5, including rolling colour patches, a clear strip from top to bottom, and images that fluoresce under ultraviolet light. Tactile features are also included for the vision-impaired community, including two raised bumps near the top of the $10 (as opposed to one on the $5).
The note is the first to feature the signature of Philip Lowe, who succeeded Glenn Stevens as Reserve Bank governor on September 18 last year. "The launch of the new $10 banknote is a milestone in our program to deliver Australians banknotes at the cutting edge in terms of security against counterfeiting. It continues the tradition of celebrating two of Australia's most prominent writers," Lowe said.
All Australian banknotes are printed by Note Printing Australia (NPA), a wholly-owned subsidiary of the Reserve Bank. The printing process is complex and highly involved, incorporating offset, intaglio and letterpress stages to maximise security against counterfeiting. The Reserve Bank declined to comment on the specific machinery used.
The next note to be updated will be the $50 bill, which will launch in September 2018.