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POCKET GUIDE TO AUSTRALIAN BANKNOTES 4 The Reinvention of BanknotesTHE AUSTRALIAN INNOVATION OF POLYMER BANKNOTES

The Returns of Polymer Banknotes

Polymer banknotes not only enhance security against counterfeiters but are also more durable and cleaner than paper banknotes. Their substrate is robust and resistant to damage from moisture, dirt, oils and household chemicals. Its longevity has resulted in a reduction in the number of banknotes required and significant savings in the cost of printing.

Whereas expired paper currency can only be burnt or buried, polymer banknotes can be recycled. The banknotes are granulated, melted and blended into pellets that are the raw material for recycling into a range of plastic products. The advanced technology of Australian banknotes has also attracted considerable interest from other countries and many of the polymer banknotes in circulation throughout the world have been printed on Australian-made substrate.

In preparation for the New Note Series, the Bank increased the technical and research capacities of its Note Printing Branch in Craigieburn, Victoria, where the series was printed. The branch was renamed Note Printing Australia in 1990 and established as a separately incorporated, wholly owned subsidiary of the Reserve Bank in 1998. The nation's banknotes have continued to be printed on polymer and this substrate has allowed for additional design and security features to be introduced. A new series – the Next Generation of Banknotes – was issued from 2016 to 2020 and the concluding Pocket Guide describes its innovations to the banknotes' security and accessibility.

The New Note Series can be granulated, melted and blended into pellets that are the raw material for recycling into a range of plastic products.

Reserve Bank of Australia Archives, D20/258701.

The Reinvention of Banknotes

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