Complete Guide to Australian $20 Paper Banknotes – Full List, History, Collector’s Value & Price Chart

The Australian $20 paper banknote holds a unique position in Australia’s currency history. Issued between 1966 and 1994, it bridged the era between pre-decimal currency and modern polymer notes. Today, these notes are treasured by collectors not only for their monetary value but also for their historical significance, artistic designs, and rarity.

In this detailed guide, you will find:

• The full list of Australian $20 paper notes issued.

• History of their release and design changes.

• Price guide for collectors.

• Tips to identify valuable notes and preserve them.

List of Australian $20 Paper Banknotes (2026 Updated)

Australian $20 paper banknotes are among the most popular collectible notes issued before the transition to polymer currency in 1994. Featuring the portrait of Mary Reibey on the front and Reverend John Flynn on the reverse, these notes circulated throughout Australia from the 1960s until the introduction of polymer technology. Collectors actively seek early signature combinations, replacement notes, low serial numbers, and high-grade uncirculated examples. Values vary significantly depending on condition, rarity, and collector demand. The following 2026 updated value guide provides estimated market prices for Australian $20 paper banknotes issued before the polymer era.

Most Valuable Australian $20 Paper Banknotes (2026)

Australian $20 Paper Banknote Value Summary

Australian $20 paper banknotes remain highly desirable among collectors in 2026, particularly first-issue notes, replacement varieties, and uncirculated examples. Notes with crisp original paper, strong colors, rare serial numbers, and printing errors consistently achieve the highest prices in auctions and private collector sales.

1. History of the Australian $20 Paper Note

The first $20 paper note was released on 14 February 1966, replacing the £10 note when Australia adopted the decimal currency system.

• Front Design: Portrait of Sir Charles Kingsford Smith, a legendary Australian aviator, along with an image of his aircraft, the Southern Cross.

• Back Design: Portrait of Reverend John Flynn, founder of the Royal Flying Doctor Service, with illustrations representing outback life and aerial medical services.

Over the years, several signature combinations were printed, each representing different periods and government officials.

The $20 paper note was phased out in October 1994 when polymer banknotes were introduced, offering improved durability and security.

2. Design Features

Front:

• Sir Charles Kingsford Smith portrait.

• Aircraft imagery.

• Detailed micro-printing and fine background patterns.

Back:

• Reverend John Flynn portrait.

• Depictions of the Australian outback, aircraft, and radio communication.

Security Features:

• Watermark of Captain James Cook.

• Metallic security thread.

• Fine-line patterns to prevent counterfeiting.

3. Complete List of Australian $20 Paper Notes by Signature Combination

4. Price & Value Guide (as of 2025)

The value of your Australian $20 paper note depends on condition, rarity, prefix, and special features.

5. What Increases the Value of a $20 Paper Note?

1. Low Serial Numbers – e.g., 000001, 000100.

2. First & Last Prefix – Always in high demand.

3. Star Replacement Notes – Denoted by a star ★ after the serial number.

4. Printing Errors – Misprints, missing ink, or misaligned designs.

5. Uncirculated Condition – Crisp, clean notes with no folds or marks fetch premium prices.

6. The Transition from Paper to Polymer

In 1994, the Reserve Bank of Australia replaced paper $20 notes with polymer versions to improve durability and security. This move made the paper notes obsolete in circulation but highly collectible among currency enthusiasts.

7. Collecting & Storing Your $20 Paper Notes

• Use Archival Sleeves: Protect notes from moisture, light, and dust.

• Avoid Folding: Even one crease can significantly reduce value.

• Get Notes Graded: Professional grading ensures authenticity and value.

• Research Auctions: Check past sales to gauge market trends.

List of Frequently Asked Questions (FAQs) About Australian $20 Paper Banknotes – Full List, History, Collector’s Value & Price Chart (2026 Edition)

Australian $20 paper banknotes are an important part of the nation’s pre-polymer currency history. First issued in 1966 following decimalisation, these notes have since become highly collectible due to their historical significance, design evolution, and rarity in high grades.

This comprehensive 2026 FAQ guide answers all questions about Australian $20 paper banknotes, covering history, varieties, signatures, serial numbers, collector value, and price trends. Whether you are a beginner or an experienced numismatist, this article provides a complete reference for understanding the value and collectible potential of these notes.

1. What is an Australian $20 paper banknote?

The $20 paper banknote is a pre-polymer Australian banknote that was part of the first decimal currency series issued in 1966, replacing the one-pound and ten-shilling notes in the pre-decimal system. It is highly collectible for its historical value, design details, and rarity in high-grade condition.

2. When was the $20 paper banknote first issued?

The first $20 paper banknote was introduced in 1966, shortly after Australia adopted the decimal currency system. Paper notes remained in circulation until the polymer $20 note was introduced in 1994, marking the end of the paper series.

3. Who appears on the $20 paper banknote?

• Obverse: Portrait of Mary Reibey, a prominent Australian businesswoman and convict who became a successful entrepreneur.

• Reverse: Depictions of Australian shipping and trade scenes, celebrating Australia’s maritime history.

Some later issues also feature different signature combinations from the Reserve Bank of Australia and Treasury officials.

4. What are the key design features of $20 paper banknotes?

• Size: Larger than modern polymer notes for enhanced security

• Color: Orange shades with green and brown details

• Watermark: Depiction of Captain James Cook

• Fine line printing and engraving for anti-counterfeit measures

• Signature combinations of the Governor of the Reserve Bank and the Secretary to the Treasury

5. What materials were used in printing?

$20 paper banknotes were printed on high-quality cotton-based paper, which included:

• Watermarks for security

• Intaglio printing for tactile features

• Color-rich engraving for durability and design clarity

6. How many types and series of $20 paper notes exist?

There are three main series:

1. First Series (1966–1972): Early decimal notes featuring Mary Reibey and basic security features

2. Second Series (1972–1989): Improved printing and signature variations

3. Third Series (1989–1994): Last paper notes before polymer transition with enhanced anti-counterfeit measures

7. What are the signature combinations on $20 paper banknotes?

Signature combinations include:

• Coombs-Wilson (early notes)

• H.C. Coombs & F.J. Wilson (common mid-series)

• Other later Governor/Treasurer pairs for final print runs

Certain combinations are much rarer and highly collectible.

8. How rare are Australian $20 paper banknotes?

Rarity depends on:

• Print run

• Year of issue

• Signature combination

• Condition (UNC vs circulated)

Early first-series notes in uncirculated condition are particularly scarce.

9. How is the condition of $20 paper notes graded?

Standard grading includes:

• Poor (P) – heavily worn

• Fine (F) – circulation wear visible

• Very Fine (VF) – minor creases

• Extremely Fine (EF) – minimal handling

• About Uncirculated (aUNC) – nearly perfect

• Uncirculated (UNC) – pristine condition

Grading significantly impacts collector value.

10. What is the importance of serial numbers?

Serial numbers affect collector value:

• Low numbers (e.g., 000001–000100)

• Repeating or palindrome numbers

• Star/replacement notes

Rare serial numbers can increase value dramatically.

11. Are replacement or star notes more valuable?

Yes. Star or replacement notes are:

• Produced to replace defective notes

• Identifiable with asterisk (*) in serial number

• Highly sought after and often sell for double or triple standard market value

12. Are there known misprints or error notes?

Yes. Examples include:

• Misaligned printing

• Off-center signatures

• Missing or double-printed features

• Ink smears or color errors

Error notes are extremely collectible and often sell at premium prices.

13. How is the collector value of $20 paper notes determined?

Value depends on:

• Condition (grading)

• Year and series

• Signature combination

• Serial number rarity

• Presence of errors or replacement notes

• Market demand in 2026

14. Price chart for $20 paper banknotes (2026)

15. How does rarity affect market value?

Notes with:

• Limited print runs

• Uncirculated condition

• Rare signature or serial numbers

…can sell for several times the value of standard circulated notes.

16. Can damaged $20 notes retain collector value?

Yes, but only if:

• Serial number is rare

• Note features an error or star designation

• Demand exists for that specific issue

17. Are uncirculated $20 paper notes more valuable?

Absolutely. Uncirculated notes are prized for:

• Crisp edges and vibrant color

• No folds, tears, or marks

• Preservation of watermark and printing details

18. How should collectors store $20 paper banknotes?

• Use archival sleeves or holders

• Avoid folding, stapling, or pinning

• Maintain stable temperature and humidity

• Limit handling to prevent oils from hands damaging paper

19. Where can collectors buy or sell $20 paper banknotes?

• Numismatic dealers

• Currency auctions

• Online collector marketplaces

• Coin and banknote shows

• Specialist collector forums

20. Are $20 paper banknotes a good investment?

Yes, especially for:

• First-series notes

• Uncirculated examples

• Rare serial numbers or signature combinations

• Replacement/star notes

21. How do paper notes compare with polymer $20 notes?

• Paper notes: Historical, collectible, fragile, high value in pristine condition

• Polymer notes: Durable, more secure, still collectible, but generally lower initial premium

22. Do $20 paper banknotes have international collector appeal?

Yes. They are sought by collectors worldwide due to:

• Commonwealth currency interest

• Early decimal series significance

• Portrait of Mary Reibey and maritime artwork

23. How can beginners start collecting $20 paper notes?

• Start with circulated notes for familiarization

• Study series and signature combinations

• Join numismatic forums or societies

• Track market prices and auctions

24. What mistakes should collectors avoid?

• Folding or cleaning notes

• Buying without verifying authenticity

• Ignoring grading or condition

• Overpaying for common issues

25. How often do values change?

Values fluctuate based on:

• Market demand

• Auction results

• Scarcity of uncirculated examples

• Interest from international collectors

26. What historical significance do $20 paper notes hold?

• Part of Australia’s first decimal currency

• Marks the transition from pre-decimal pounds

• Features Mary Reibey, a key historical figure

• Reflects printing and anti-counterfeit technology of the era

27. What is the future outlook for $20 paper banknotes?

• Scarcity will continue to rise as notes degrade or are lost

• Collector demand is steady

• High-grade, rare serial, and replacement notes expected to increase in value

28. Can $20 paper notes increase in value over time?

Yes, especially:

• Uncirculated notes

• Rare signature or serial numbers

• Early print runs

• Notes with errors or replacement markings

29. Are there special edition $20 paper banknotes?

Some limited editions exist for:

• Collectors sets

• Commemorative issues

• Special serial numbers printed for collectors

These editions often sell at premiums above standard circulation notes.

30. Conclusion – Summary of Collector Insights

Australian $20 paper banknotes are historical, collectible, and increasingly rare. From the first decimal issue in 1966 to the final pre-polymer notes in 1994, these notes hold cultural, historical, and investment value.

Collectors in 2026 should focus on:

• Uncirculated notes

• Rare serial numbers or star notes

• Specific signature combinations

• Proper storage and authentication

With the right approach, $20 paper banknotes offer both a window into Australia’s monetary history and a valuable long-term collectible asset.

Conclusion

The Australian $20 paper note is more than just money—it’s a piece of history. From the pioneering days of decimal currency to its replacement by polymer technology, each series tells a unique story.

Whether you own a circulated 1970s note or a pristine 1966 first-issue UNC example, understanding its design, rarity, and market value will help you appreciate and preserve it. With time, these notes are becoming rarer, making them an excellent choice for both collectors and investors.

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