Complete List & Value Guide to Commonwealth of Australia $1 Notes – History, Prices, and Collectors’ Rarity Chart

The Commonwealth of Australia $1 note is one of the most recognised pieces of Australian currency history. Introduced during the decimal currency changeover in 1966, it replaced the ten-shilling note and remained in circulation until 1984, when the $1 coin took its place.

For collectors, these notes are far more than just old paper money. They are tangible pieces of Australian heritage—each carrying unique artwork, signature variations, and historical significance. In this detailed guide, you’ll find the complete list of Commonwealth $1 notes, their history, rarity, and price values in today’s collector market.

1. Historical Background

On 14 February 1966, Australia officially adopted decimal currency, replacing the pound system with the dollar and cent. The $1 note was introduced as part of this change, printed by the Reserve Bank of Australia at the Note Printing Branch in Melbourne.

Key Timeline:

• 1966: First $1 notes released with Coombs/Wilson signatures.

• 1968–1984: Multiple print runs with different signature combinations.

• 1984: Withdrawal from circulation and replacement by the $1 coin.

2. Design Features of the $1 Note

The $1 note’s design incorporated both European and Aboriginal heritage, making it one of the most artistic Australian notes ever produced.

Obverse (Front):

• Portrait of Queen Elizabeth II (based on a photograph by Douglas Glass, engraved by John Dow).

• Floral wattle motif.

• “Commonwealth of Australia” title.

Reverse (Back):

• Aboriginal artwork by David Malangi, representing a funeral ceremony.

• Traditional tools and weapons illustrated in detail.

Technical Specifications:

• Size: 140mm × 70mm

• Main Colours: Brown and gold

• Watermark: Captain James Cook

• Security: Metallic thread (in later issues), fine intaglio printing

3. Complete List of Commonwealth $1 Notes by Signatures

Collectors classify Australian $1 notes by their signature combinations. Some print runs are common, while others are rare and highly valuable.

Note: Prices are for uncirculated (UNC) notes as of 2025. Circulated notes are worth less.

4. Rarity Factors Affecting Value

The value of a Commonwealth $1 note depends on several factors:

1. Condition (Grading) – Uncirculated notes fetch the highest prices.

2. Serial Numbers – Low numbers (e.g., 000001), “radar” numbers (e.g., 123321), and repeaters are premium.

3. Star Notes – Printed as replacements for damaged notes; rare and valuable.

4. First and Last Prefixes – Highly sought-after by collectors.

5. Printing Errors – Misaligned printing or missing features can increase worth.

5. Current Price Guide for Collectors (2025)

Here’s a general guide for market value based on note condition:

6. Collecting Tips

• Use protective sleeves to prevent creasing and fading.

• Verify authenticity with watermark and security thread checks.

• Buy from reputable dealers to avoid counterfeit notes.

• Maintain records of purchase date, seller, and condition grading.

• Focus on rarity — first/last prefix notes and star notes offer better long-term value.

7. End of Circulation and Legacy

In 1984, the Australian government phased out the $1 note in favour of the more durable $1 coin. This transition marked the end of paper $1 notes in everyday transactions, turning them into collector’s items.

Today, these notes are treasured not only for their monetary value but also for their cultural and historical significance.

List of Frequently Asked Questions (FAQs) about Commonwealth of Australia $1 Notes – History, Prices & Collectors’ Rarity Chart

The Commonwealth of Australia $1 banknote is one of the most iconic and historically important banknotes ever issued in Australia. Introduced during the transition to decimal currency, the $1 note played a crucial role in everyday Australian life for nearly two decades before being replaced by the $1 coin. Today, these notes are prized by collectors for their historical significance, design variations, serial number rarities, and steadily rising market values.

This detailed FAQ guide answers the most common questions collectors ask about Australian $1 notes, covering their complete history, series varieties, price trends, grading, rarity factors, and collector values in 2026.

1. What are Commonwealth of Australia $1 notes?

Commonwealth of Australia $1 notes are decimal currency banknotes issued by the Reserve Bank of Australia (RBA) beginning in 1966. They replaced the pre-decimal 10-shilling note when Australia adopted decimal currency. These notes remained in circulation until 1984, when they were replaced by the $1 coin.

2. When was the first Australian $1 note issued?

The first Australian $1 note was issued on 14 February 1966, known nationally as Decimal Day. This marked Australia’s official transition from pounds, shillings, and pence to dollars and cents.

3. Why is the 1966 $1 note historically important?

The 1966 $1 note is historically significant because it:

• Introduced decimal currency to Australia

• Replaced the 10-shilling note

• Featured Queen Elizabeth II on the obverse

• Symbolized modern Australia’s economic shift

Collectors consider it a foundation piece of any Australian banknote collection.

4. Who is featured on the Australian $1 note?

The $1 note features:

• Obverse: Queen Elizabeth II (young portrait)

• Reverse: Indigenous Australian artwork and cultural motifs inspired by Aboriginal art

This design highlighted Australia’s heritage and identity while maintaining Commonwealth traditions.

5. How many series of Australian $1 notes were issued?

There were three main series of Australian $1 notes:

1. 1966 Series

2. 1968 Series

3. 1974 Series

Each series contains subtle differences in signatures, printing details, and serial number ranges that affect collector value.

6. What materials were Australian $1 notes made from?

All Australian $1 notes were printed on paper (cotton-based banknote paper). Polymer was not introduced until 1988, making paper $1 notes more susceptible to wear and scarcity in higher grades.

7. When were Australian $1 notes withdrawn from circulation?

Australian $1 notes were officially withdrawn from circulation in 1984, following the introduction of the $1 coin. However, they remain legal tender, though rarely used.

8. Are Australian $1 notes still legal tender today?

Yes. Commonwealth of Australia $1 notes are still legal tender, but their collector value is far higher than their face value, making spending them strongly discouraged.

9. How much is an Australian $1 note worth in 2026?

Collector values vary based on condition and rarity:

10. Which Australian $1 notes are the rarest?

The rarest $1 notes include:

• 1966 Coombs/Wilson signature combination

• Replacement (star) notes

• Low serial number notes

• Consecutive uncirculated runs

• Printing error notes

These can command premium prices at auction.

11. What is a replacement (star) $1 note?

Replacement notes were issued to replace damaged or faulty notes during production. They are identified by a star symbol or special prefix and are significantly rarer than regular issues.

12. What serial numbers are most valuable?

Highly sought-after serial numbers include:

• 00000001 (first note)

• Solid numbers (111111)

• Repeating numbers (123123)

• Radar numbers (palindromes)

• Matching or consecutive serial sets

13. How do signatures affect $1 note value?

Each series features different Governor and Treasury signatures. Some combinations were printed in smaller quantities, making them more desirable to collectors.

14. What printing errors increase value?

Valuable errors include:

• Missing serial numbers

• Ink smears

• Off-center printing

• Inverted backs

• Double printing

Rare errors can exceed AUD $2,000 depending on condition.

15. How do I grade an Australian $1 note?

Grading considers:

• Creases and folds

• Corner sharpness

• Paper brightness

• Tears or pinholes

• Overall eye appeal

Grades range from Poor to Uncirculated (UNC).

16. Should I get my $1 note professionally graded?

Professional grading is recommended for:

• High-value notes

• Rare serial numbers

• Error notes

• Investment-grade pieces

Certified notes often sell for higher prices.

17. How should Australian $1 notes be stored?

Proper storage includes:

• Acid-free currency sleeves

• Mylar holders

• Flat storage (no folding)

• Low humidity, cool conditions

• Avoid direct sunlight

18. Are Australian $1 notes a good investment?

Yes. Due to:

• Limited surviving high-grade examples

• Historical significance

• Strong collector demand

• Declining availability

$1 notes have shown consistent long-term appreciation.

19. How have $1 note prices changed over time?

Over the past decades:

• Circulated examples doubled or tripled in value

• UNC examples rose dramatically

• Rare varieties achieved record auction prices

20. Can beginners collect Australian $1 notes?

Absolutely. They are:

• Affordable entry-level collectibles

• Easy to identify

• Historically meaningful

• Widely documented

21. Where can I buy Australian $1 notes?

Common sources include:

• Numismatic dealers

• Coin and banknote auctions

• Collector fairs

• Online marketplaces

• Private collector trades

22. How can I spot counterfeit $1 notes?

To avoid counterfeits:

• Study genuine note details

• Compare paper quality

• Check serial numbers

• Buy from reputable dealers

• Seek expert verification

23. Do Australian $1 notes come in collector folders?

Some uncirculated examples were sold in presentation packs or preserved in mint condition, increasing their value significantly.

24. Are Australian $1 notes popular internationally?

Yes. International collectors value them for:

• Decimal transition history

• Commonwealth design

• Early Queen Elizabeth II portraits

• Rarity in high grades

25. What is the future outlook for Australian $1 notes?

By 2026 and beyond:

• Prices are expected to rise steadily

• Top-grade notes will become scarcer

• Error and replacement notes will gain demand

• Global collector interest will continue growing

Collectors’ Rarity Chart – Australian $1 Notes

Conclusion: Are Commonwealth of Australia $1 Notes Worth Collecting in 2026?

The Commonwealth of Australia $1 note represents a defining chapter in Australia’s monetary history. With strong historical appeal, increasing rarity, and steady value growth, these notes remain one of the most collectible decimal banknotes in the Australian market. Whether you are a beginner or a seasoned numismatist, Australian $1 notes offer both cultural significance and long-term investment potential.

The Commonwealth of Australia $1 note is a collector’s gem, rich in history and artistry. From the first 1966 issue to the final 1984 release, each note has its own story, rarity factor, and value range.

Whether you are a beginner in numismatics or a seasoned collector, understanding the history, rarity, and price trends of these notes can help you build a valuable collection and preserve a piece of Australian heritage.

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