The new $100 banknote enters general circulation today. It is the final denomination to be redesigned as part of the Reserve Bank’s Next Generation Banknote Program.
Governor Philip Lowe said, ‘The release of the new $100 marks the completion of the decade-long program to upgrade the security of our banknotes. As a result, Australia continues to have some of the best and most secure banknotes in the world. We also continue to celebrate the outstanding contributions of two well-known Australians, Sir John Monash and Dame Nellie Melba, on the new $100.’
Sir John Monash was an engineer, soldier and civic leader recognised for his influence in the building-construction industry and service as a commander in the First World War. Dame Nellie Melba was an internationally renowned soprano who performed in Australia, Europe and the United States of America and taught at the Melba Memorial Conservatorium of Music, now the Melba Opera Trust.
On the new $100, a number of dynamic security elements are integrated with the top-to-bottom window, including a reversing ‘100’ in the Shrine of Remembrance, which Monash was instrumental in building. There is also a three-dimensional fan with colourful lines, representing Melba’s career as a performer.
Assistant Governor Lindsay Boulton commented, ‘We anticipate it will take some time for people to regularly see the new $100 banknote in circulation as our largest-denomination banknote is generally used as a store of wealth rather than for transactions. It is also important for people to know that the existing $100 banknotes can continue to be used and we expect both series of banknotes to co-circulate for some time. In fact, all our banknotes, including paper banknotes issued many years ago, remain legal tender in Australia.’
The Reserve Bank has worked closely with banknote equipment manufacturers and retailers to help them prepare ATMs and other banknote authenticating machines to handle the new $100 banknote.
As with the other recently released banknotes, the new $100 has a ‘tactile’ feature to assist people who are blind or who have low vision to distinguish between different denominations. There are five raised bumps on each of the long edges of the $100 banknote.
Standard uncirculated banknotes are available at face value over-the-counter at our Sydney Head Office (65 Martin Place) and Canberra branch (20-22 London Circuit) Banking Chambers. Prior arrangements should be made to purchase the new banknotes at our Sydney office. Details can be viewed on the banknotes website.