REDEMPTION OF OLD AUSTRALIAN NOTES

All previous issues of Australian notes retain their legal tender status. However, it is a long time since these notes actively circulated in Australia and most retailers and members of the public would be reluctant to accept them as they are unfamiliar with the designs and may suspect them to be counterfeit.

The Reserve Bank of Australia (RBA), and most commercial banks, will redeem old Australian notes at face value. If you take your old notes to a commercial bank they may exchange them for current notes. Please bear in mind that a commercial bank may require time to confirm that a note from a previous note series is genuine or may need to send such notes to the RBA for confirmation.

Alternatively, you can exchange your old notes for current notes by visiting the following RBA locations:

Both locations are closed on public and New South Wales Bank holidays.

If you are exchanging pre-decimal notes, the conversion to dollars is obtained by multiplying the face value of the pre-decimal note by two (except for a 10 shilling note which converts to $1). For example, a ₤1 note converts to $2, ₤5 converts to $10 and ₤10 converts to $20.

Some old notes may be valuable as collector items. You may wish to have your old notes appraised by a Note and Coin Dealer. Without endorsing any particular organisation, there are a number of Australian note and coin dealers that are members of the Australian Numismatics Dealers Association (ANDA). For more details, please visit the ANDA website. The RBA does not provide opinions concerning the market value of old, rare or misprinted notes.