The new $10 note started rolling out yesterday featuring a number of new security designs to help combat counter-fitting.
The new $10 note has the same security features as the new $5 note which was released in September last year. These features include a clear window running from top to bottom, holograms and images only visible under ultra violet lights. The new $10 also features a cockatoo with a crest that changes colour. Both notes also contain two bumps along the edge of the note next to the window to help the visually impaired distinguish between the notes.
Two iconic Australian writers, AB “Banjo” Patterson and Dame Mary Gilmore are featured on the new note as they did on the old version. It has been almost 25 years since a new series of bank notes was released by the Reserve Bank. The Reserve Bank’s assistant governor says “The technology available to counterfeiters, like the technology generally in the community, is improving all the time. So we need to stay several steps ahead of the counterfeiters.”
Due to the amount of hiccups last year with the release of the $5 notes the Reserve Bank says it has given business’ operating vending machines enough notice about the new notes so they could upgrade current equipment if necessary. They had made production-quality bank notes available to equipment manufacturers and operators over the past six months so they could prepare their machines to be ready to accept the new notes. Unfortunately there are still many machines not accepting the new note as many people discovered today.
Some vending machines are not accepting the new note with one ticket machine at Central Station actually taking the note with no credit added! A different machine at the same station stating “we accept the new $10 note” did actually accept the note as stated. The new note was accepted at various self serve checkouts at Coles, Woolworths, and K-mart but unfortunately the IGA rejected the note. All going well the new note should be accepted in a self serve destinations by the end of the year.
Have you spotted the new note yet? Here are some totally ineffectual facts about the Aussie ten dollar note.
• The $10 note was first issued on 14 February 1966
• As at June 2016 there were 120 million $10 notes in circulation
• The $10 banknote is the only denomination in the polymer series to have something other than the value printed on it in microprint
• The tiny, clearly defined print on the banknote also shows the words to ‘Banjo’ Paterson’s The Man from Snowy River
• Andrew Barton (Banjo) Paterson, a poet and ballad writer, was born in rural New South Wales
• Dame Mary Gilmore campaigned for a wide range of social and economic reforms, such as votes for women, old-age and invalid pensions
• Gilmore published numerous volumes of prose and poetry, particularly focussed on outback and rural themes
• The banknote features Gilmore’s No Foe Shall Gather Our Harvest in microprint
Are you keeping an eye on your tenners? How is your finance looking at the moment? Give Chris a buzz anytime to talk anything finance! 0434 449 455