1988 Commemorative $10 polymer Banknote Counter stamped In folder and Envelope

1988 Commemorative $10 polymer Banknote Counter stamped In folder and Envelope

On January 27, 1988, the Reserve Bank of Australia released for the first time the commemorative 10 dollars 1988 banknote. It was developped by the Reserve Bank of Australia, The University of Australia and the Commonwealth Scientific and Industrial Research Organisation to enhance the security of australian currency and it was the first modern polymer banknote issued worldwide.

Polymer

Since the decision to change from the Australian pound to a decimal currency in 1966, a lot of forgeries of the australian ten dollars note were found in circulation. To help prevent fraud, polypropylene polymer banknotes were a good alternative offering more security features including fluorescent ink, transparent window, diffractive optically variable device and more.

Since polymer was introduced, the Reserve Bank of Australia confirmed that:

For a long time now Australia has had one of the lowest counterfeiting rates in the world. One of the reasons for this is the different security features that we have on our banknotes, which make it harder for a counterfeiter to copy them.