Australian $1 Banknote – Complete History, Design, Rare Varieties, Price & Value Guide (Full List)

The Australian $1 banknote is one of the most recognisable pieces of the nation’s currency history. First issued on 14 February 1966, this note was part of the country’s major shift from the pre-decimal system to decimal currency. It replaced the 10-shilling note and remained in circulation until 1984, when it was replaced by the $1 coin for economic and durability reasons.

Today, the $1 banknote has become a highly sought-after collector’s item, with certain rare varieties selling for hundreds or even thousands of dollars. In this guide, we’ll cover the complete list of $1 notes, their history, designs, rare features, and current 2025 market prices.

1. History of the Australian $1 Banknote

Before decimalisation in 1966, Australia used pounds, shillings, and pence. The switch to dollars and cents brought a fresh set of banknotes, including the $1 note, which took over from the 10-shilling denomination.

• 1966 – First Issue: Introduced alongside the new currency system.

• 1967–1979 – Series Updates: Included changes in signatures and printing security features.

• 1982–1984 – Final Prints: Last paper $1 notes before the shift to coins.

The move to coins was based on studies showing coins lasted 20+ years compared to paper notes, which had an average lifespan of 12–18 months.

2. Design and Artistic Elements

The $1 note’s design, created by Gordon Andrews, reflects both Australian identity and heritage.

• Front: Portrait of Queen Elizabeth II (based on a photograph by Douglas Glass), the Australian Coat of Arms, and intricate patterns for anti-counterfeiting.

• Back: Indigenous art by David Malangi, featuring the Morning Star Pole and traditional bark paintings representing the Yolngu people of Arnhem Land.

Its brown and golden tones symbolise the Australian landscape.

3. Security Features

While primitive compared to today’s polymer notes, the $1 paper note had:

• Watermark of Captain James Cook.

• Metallic security thread in later series.

• Fine engraving patterns to deter counterfeiters.

4. Complete List of $1 Note Varieties

Collectors classify Australian $1 notes mainly by signature combinations, serial prefixes, and special print runs.

5. Rare & Valuable $1 Notes

Certain notes are considered rare due to limited mintage, printing errors, or unique serial numbers:

• First Prefix Notes: Serial starting with "A".

• Last Prefix Notes: Ending in "Z".

• Star Replacement Notes: Contain a small ★ in the serial number.

• Low Serial Numbers: 000001–000100 highly collectible.

• Error Notes: Misprints, missing ink, or off-centre printing.

6. Price & Value Guide (2025 Market Estimates)

The value of a $1 note depends on condition, rarity, and demand:

7. Collecting Tips

• Store notes in acid-free sleeves.

• Avoid folding or bending notes.

• Check serial numbers for rarity.

• Purchase from reputable dealers or auction houses.

8. End of Circulation

The $1 coin replaced the note in May 1984, featuring five kangaroos designed by Stuart Devlin. The change was part of a broader strategy to extend the lifespan of lower denominations and cut printing costs.

List of FAQs About the Australian $1 Banknote – Complete History, Design, Rare Varieties, Price & Value Guide (Full List)

The Australian $1 banknote holds a special place in Australia’s monetary history. Once a familiar part of everyday life, it has now become a highly collectible banknote, valued for its historical importance, distinctive designs, and rare varieties. Although replaced by the $1 coin in the 1980s, surviving notes—especially in high condition or with rare features—can be surprisingly valuable.

This comprehensive FAQ-style guide explores the complete history of the Australian $1 banknote, including design details, issue varieties, serial numbers, rare errors, market prices, and collector value. Whether you’re a beginner or an experienced numismatist, this guide will help you understand the true worth of Australia’s iconic $1 note.

Frequently Asked Questions About the Australian $1 Banknote

1. What is the Australian $1 banknote?

The Australian $1 banknote was a paper currency issued by the Reserve Bank of Australia (RBA) as part of Australia’s decimal currency system. It was introduced in 1966 and circulated until it was replaced by the $1 coin in 1984.

Today, it is no longer legal tender for everyday use but remains highly collectible.

2. When was the Australian $1 banknote introduced?

The $1 banknote was introduced on 14 February 1966, known as Decimal Day, when Australia transitioned from pounds, shillings, and pence to decimal currency.

It played a key role in helping Australians adapt to the new monetary system.

3. Why was the $1 banknote important?

The $1 banknote was important because it:

• Replaced the £10 note under the old system

• Became the most commonly used denomination

• Supported everyday transactions nationwide

It symbolised modernisation and economic progress.

4. What material was the Australian $1 banknote made from?

The $1 banknote was printed on cotton-based paper, typical of banknotes worldwide at the time. Polymer technology had not yet been introduced.

5. Who appears on the Australian $1 banknote?

All Australian $1 banknotes feature:

• Queen Elizabeth II on the obverse (front)

• Indigenous Australian artwork on the reverse

The portrait of the Queen was updated over time to reflect her age.

6. Why does the $1 note feature Indigenous artwork?

The reverse design honours Aboriginal culture, showcasing:

• Dot patterns

• Tribal motifs

• Cultural symbolism

This made the $1 note one of the earliest Australian banknotes to prominently feature Indigenous art.

7. How many series of Australian $1 banknotes were issued?

There are four main series:

1. 1966 Coombs–Wilson series

2. 1968 Coombs–Wilson (revised)

3. 1974–1979 series

4. 1982 Johnston–Stone series

Each series has distinct design and printing variations.

8. What is the Coombs–Wilson $1 banknote?

The Coombs–Wilson series was the first $1 banknote issued in 1966. It is named after:

• H.C. Coombs, Governor of the RBA

• Roland Wilson, Secretary to the Treasury

Early printings are among the most collectible.

9. What makes the 1966 $1 banknote special?

The 1966 $1 note is special because it:

• Was part of Australia’s first decimal currency

• Has multiple rare varieties

• Includes highly sought-after error notes

It is one of the most collected Australian banknotes.

10. What is the Johnston–Stone $1 banknote?

The Johnston–Stone series, issued from 1979 to 1982, was the final $1 banknote series before the transition to the $1 coin.

Uncirculated examples from this series are increasingly scarce.

11. When was the Australian $1 banknote withdrawn?

The $1 banknote was officially withdrawn from circulation in 1984, when the $1 coin was introduced for durability and cost efficiency.

12. Is the Australian $1 banknote still legal tender?

Australian banknotes never lose legal tender status, but the $1 banknote is no longer used in circulation. Most are now held by collectors.

13. What security features were used on the $1 banknote?

Security features included:

• Watermarks

• Fine line engraving

• Security threads

While basic by modern standards, these were effective at the time.

14. What are serial numbers on the $1 banknote?

Each note has a unique serial number, printed twice. Serial numbers help identify:

• Printing batches

• Rare varieties

• Replacement notes

15. What are star or replacement notes?

Star notes were issued to replace damaged or faulty notes during production. They are rarer and more valuable than standard notes.

16. What are rare varieties of the Australian $1 banknote?

Highly sought-after varieties include:

• Star replacement notes

• Radar serial numbers

• Low serial numbers

• Misprints and errors

These can command significant premiums.

17. What printing errors exist on $1 banknotes?

Known errors include:

• Inverted serial numbers

• Missing colours

• Off-centre printing

• Fold-over errors

Authentic errors are extremely collectible.

18. How is the condition of a $1 banknote graded?

Grades include:

• Poor

• Fine

• Very Fine

• Extremely Fine

• About Uncirculated

• Uncirculated

Condition greatly affects value.

19. What is the value of a circulated $1 banknote?

Approximate prices:

• Poor–Fine: $3–$10

• Very Fine: $10–$25

Even heavily circulated notes are worth more than face value.

20. What is the value of an uncirculated $1 banknote?

Uncirculated examples can fetch:

• $50–$150 for common issues

• $300–$1,000+ for rare varieties

21. Are consecutive serial numbers valuable?

Yes. Consecutive sets are popular and often sell at a premium.

22. Are low serial number $1 notes valuable?

Absolutely. Very low serial numbers can sell for hundreds or even thousands of dollars, depending on condition.

23. How should Australian $1 banknotes be stored?

Best storage methods include:

• Acid-free sleeves

• Cool, dry conditions

• Minimal handling

Proper storage preserves long-term value.

24. Is collecting Australian $1 banknotes a good investment?

Yes. Demand remains strong due to:

• Limited supply

• Nostalgia factor

• Increasing interest in pre-decimal and decimal notes

25. How do $1 banknotes compare to $1 coins?

Banknotes are:

• Scarcer in high condition

• More historically significant

• Favoured by traditional collectors

26. Are Australian $1 banknotes popular internationally?

Yes. Collectors worldwide value them for their:

• Indigenous artwork

• Decimal transition significance

• Unique design history

27. Where can collectors buy Australian $1 banknotes?

Common sources include:

• Numismatic dealers

• Online auctions

• Coin and banknote fairs

• Collector forums

28. How can you authenticate a $1 banknote?

Authentication involves checking:

• Watermark clarity

• Paper quality

• Serial number style

• Print sharpness

Expert verification is recommended for high-value notes.

29. Will Australian $1 banknotes increase in value?

High-quality and rare varieties are expected to appreciate steadily as surviving numbers decline.

30. Why is the Australian $1 banknote historically important?

It represents:

• Australia’s move to decimal currency

• Early recognition of Indigenous culture

• A complete era of paper money now gone

Final Thoughts

The Australian $1 banknote is far more than obsolete currency—it is a powerful symbol of Australia’s financial and cultural evolution. With multiple series, rare varieties, and strong collector demand, it offers something for everyone, from casual collectors to serious investors.

Understanding its history, design, and market value is essential to recognising why this humble note has become one of Australia’s most beloved and collectible banknotes.

Conclusion

The Australian $1 banknote is more than an old piece of paper—it’s a symbol of the nation’s cultural and economic transformation. With its unique design, Aboriginal heritage artwork, and historical importance, it remains a favourite among collectors. As years pass, rare and pristine examples will continue to appreciate in value, making them both a nostalgic keepsake and a smart investment.

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