The Reserve Bank is considering whether to replace the Queen Elizabeth’s face on Australian currency with that of King Charles III.
Queen Elizabeth was featured on the Australian $5 note in 1992 to celebrate the 40th anniversary of her ascension and now Reserve Bank governor Philip Lowe revealed it is reviewing if a change should occur given the new monarch.
Will King Charles III be the new face on the $5 bill?
(Image: Getty)“We recognise that this is an issue that is of national interest and there is a long tradition of the monarch being on Australia’s banknotes,” Philip said.
“The monarch has been on at least one of Australia’s banknotes since 1923 and was on all our notes until 1953.
“Given this tradition and the national significance of the issue, the bank is consulting with the Australian government regarding whether or not the new $5 banknote should include a portrait of King Charles III.”
Queen Elizabeth has featured on the note since 1992.
(Image: Getty)There has been discussion on such changes since the Queen’s death in September. Treasurer Jim Chalmers also met with Philip and later revealed the government would consult the public on the transition when it was necessary.
However, the final decision could take up to 18 months to confirm.
There has been differing opinions as to whether the $5 note should be changed or not, and if so whose face should be stamped on the currency.
In early October, dedicated fans petitioned “true Aussie hero” Steve Irwin be featured on the note. The new petition follows six years after another fan posted an online petition to have the $100 bill changed to the Australian conservation and wildlife legend, it clearly did not sway the government’s opinion.
While the Australian Republic Movement is also campaigning for the British monarch be removed from the nation’s currency, we doubt they will petition for Steve Irwin to be the Queens replacement.
Assistant Minister Treasury Andrew Leigh said King Charles III would not ‘automatically’ appear on the $5 bill. Meanwhile Opposition Leader Peter Dutton demanded the government commit to changing the currency’s monarch.
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