While fraudulent online transactions today outstrip the counterfeiting of cash, the design of our money remains an important balancing act between security and culture.
Monarchs, accomplished people, flora and fauna, are typical of the the design of currency around the world, with the late Queen Elizabeth II the most replicated individual, with over 30 Commonwealth countries featuring her on banknotes at one time.
In the United Kingdom, like in Australia, the silhouette of England’s monarch has long reigned over the design of coins and notes, with the reverse honouring celebrated citizens.
However, this is all about to change. A recent survey conducted by the Bank of England revealed the public wants banknotes to have a nature-based design instead of the current historical figures.
Victoria Cleland, chief cashier at the Bank of England, tells Central News capturing the national character is vital when considering the content of notes.
“It provides an opportunity to celebrate different aspects of the United Kingdom,” she says.
“Our recent decision to move towards a nature theme reflects strong public feedback and allows us to showcase the UK’s rich and varied wildlife, while also considering representation across the four nations.”
In Australia, collectible coins are also a key consideration in the design of the country’s currency.
“We release collectible coin products each month, some of which are also released as circulating currency, such as our coloured $2 coins,” says Madelyn Chandra, assistant director of design at the Royal Australian Mint.
“The design process for these products involves identifying significant stories and anniversaries, as our purpose is to tell the Australian story through our coins.”
The key driver for introducing a new banknote series is always to strengthen protection against counterfeiting.
Victoria Cleland, Bank of England
In Australia the general circulating currency remains the same, with the only recent change being the shift from the effigy of Queen Elizabeth II to King Charles III.
Cleland contends banknotes are more than a means of payment.
“They are a symbolic reflection of our national identity,” she says, but adds that Alan Turing, Churchill, Austen and Turner, are all to be removed from UK banknotes.
And despite some objections to the change, many consider the evolution of currency design to be normal, even necessary
“In general terms, having Jane Austen on the £10 note certainly brought her to the nation’s attention,” The Jane Austen Society of England said, “but, otherwise, the Society does not have a view on the matter.“
Security is the other major consideration in the design of currency, with the Australian Border Force reporting a 700 per cent increase in counterfeit money entering Australia in the first quarter of 2026 as compared to the same period last year.
With technological advancements making it easier to counterfeit money, many countries have phased out paper notes and made the switch to a polymer material of the kind pioneered by the Australian mint in the 1990s.
“The key driver for introducing a new banknote series is always to strengthen protection against counterfeiting,” says Cleland, citing key security features in the UK’s new notes including a transparent window and multicoloured metallic foils.
Main image Paolo Margari/Flickr.
