A recent decision by the Reserve Bank of Australia has sparked growing controversy, with taxpayers footing the bill for a significant redesign.

As tensions rise, questions are being raised about the cost, the rationale, and the ongoing debate surrounding the nation's banknotes.

What started as a change to honor Indigenous culture has now become the focus of widespread criticism, with some proposing a compromise that could appease both sides of the argument.

The Reserve Bank of Australia (RBA) has been under intense scrutiny after it was revealed that more than $507,000 of taxpayer money had been spent on removing the Queen’s portrait from the $5 banknote.

In 2023, the RBA announced plans to replace Queen Elizabeth II’s image with a design intended to honour the connection between First Nations peoples and their Country.

This move was met with immediate backlash, and the Australian Monarchist League (AML) stepped in with a compromise design that aimed to satisfy both the Indigenous community and supporters of the monarchy.

Taxpayer dollars spent on controversial $5 banknote redesign. Image source: Australian Monarchist League

Philip Benwell, AML Chairman, shared: ‘Our design costs the taxpayer nothing and manages to pay tribute to both First Nations people and the King.’

He added, ‘We’ve done the Reserve Bank’s job for them.’

The proposed redesign featured Uluru on the left, wattle and the rainbow serpent in the middle, and King Charles III on the right.

The new design quickly gained traction on social media, with many voicing their opinions on the controversial changes.

Heather McPherson commented: ‘I don’t particularly like Charles but he should be on our $5 note as our beloved Queen was.’

Allan Evans called for the RBA to keep the Queen’s image, stating: ‘Put the Monarch back on $5 note.’

The design proposal echoed a similar one from 1966, when Australia’s $1 banknote featured both Queen Elizabeth II and Indigenous Australians.

The RBA was contacted for comment but did not provide a response.

This ongoing debate has highlighted the divide between those supporting the monarchy and those advocating for a more inclusive representation on Australian currency.

In a previous story, we explored the Reserve Bank of Australia's decision to update the $5 note with a fresh Indigenous design.

This move has sparked intense public discussion, especially among those who feel the monarchy should still be represented.

To read more about the RBA’s choice and how it has divided the nation, click here.

Key Takeaways

• The Reserve Bank of Australia spent over $507,000 to redesign the $5 banknote, removing the Queen's portrait.
• The redesign aimed to honour First Nations peoples, sparking backlash and debate.
• The Australian Monarchist League proposed a compromise design featuring both Indigenous symbols and King Charles III.
• The controversy continues, with many calling for either a return to the Queen’s image or a more inclusive design.

As the debate continues, it's clear that opinions on the redesign are deeply divided. Do you think King Charles III should appear on the $5 note, or is it time for something entirely different?

Share your thoughts in the comments.

 

[gamiry]

that dirty bastard has NO PLACE on our money or anywhere else. He's an adulterer, an idiot who was sent here many years ago because he was an embarrassment to the family and he accuses family members of things that are not proven in Court. HE makes me heartily sick

 

[Free.lander]

well go be sick some where else-- He is the monarch of the commonwealth and your comments amount of JS
Besides with the banks all pushing the LNP to do away with cash so they can introduce more ways of stealing our money, the note is rapidly heading for deletion anyway
personally I consider it to be well designed not that it will affect the way I spend it

 

[Dawn Fryett 4865]

This looks great, why would you not want to put the King on it?/ tired of being told everything belongs to the native people, we are All part of this lousy world make the best of it black, white or brindle doesn't matter to me just leave things alone and stop changing things to please one particular group.

 

[Dawn Fryett 4865]

that dirty bastard has NO PLACE on our money or anywhere else. He's an adulterer, an idiot who was sent here many years ago because he was an embarrassment to the family and he accuses family members of things that are not proven in Court. HE makes me heartily sick

what a nasty person you are,

 

[IAN3005]

Well. Let's start with the so-called 'CASHLESS SOCIETY'..... if they truly go cashless, why spend $5,000,0000 on a note that is going to be worthless in the future.
Charles is close to death so we would be changing it again at $6,000,000.
Who in their right mind would want to look at an image of a Dick.
Meanwhile, there is no movement on the affordable housing. Get your priorities in order....

 

[Craftingnonna]

I’ve got to be honest, I’m sick of seeing aboriginal designs everywhere. The dot paintings was introduced by a teacher Geoffrey Bardon so technically the dot paintings are not traditional aboriginal design, if I were a member of the Bardon family I would charge the aboriginal people for the use of his design, let’s face it the aboriginal councils charge mining companies millions for the use of land they claim is there’s. As much as I don’t like Charles he is our monarch and he should be in our $5 note using the exact same design as the current $5 note, with no changes.

 

[IAN3005]

I’ve got to be honest, I’m sick of seeing aboriginal designs everywhere. The dot paintings was introduced by a teacher Geoffrey Bardon so technically the dot paintings are not traditional aboriginal design, if I were a member of the Bardon family I would charge the aboriginal people for the use of his design, let’s face it the aboriginal councils charge mining companies millions for the use of land they claim is there’s. As much as I don’t like Charles he is our monarch and he should be in our $5 note using the exact same design as the current $5 note, with no changes.

He' nothing but a wank that needs someone to wipe his ars*

 

[Thecla]

This looks great, why would you not want to put the King on it?/ tired of being told everything belongs to the native people, we are All part of this lousy world make the best of it black, white or brindle doesn't matter to me just leave things alone and stop changing things to please one particular group.

I am sick and tired of that as well. Everywhere you go everywhere you look at something it’s always indigenous. I was sorry those things happened but please move on

 

[IAN3005]

I am sick and tired of that as well. Everywhere you go everywhere you look at something it’s always indigenous. I was sorry those things happened but please move on

Without spending $5,000,000

 

[KimJay]

If common-sense was used King Charles could be on one side and an indigenous design on the other, (instead of Parliment House)

 

[Thecla]

I’ve got to be honest, I’m sick of seeing aboriginal designs everywhere. The dot paintings was introduced by a teacher Geoffrey Bardon so technically the dot paintings are not traditional aboriginal design, if I were a member of the Bardon family I would charge the aboriginal people for the use of his design, let’s face it the aboriginal councils charge mining companies millions for the use of land they claim is there’s. As much as I don’t like Charles he is our monarch and he should be in our $5 note using the exact same design as the current $5 note, with no changes.

I am quite fed up with the smoking ceremony as well. Someone told me it was something Ernie dingo made up for a movie and has been going on from there…..not sure but yes sick of the aboriginal design on absolutely everything. People may not like Charles but he is our king. Plenty of men (and women) have been adulterers just get over it

 

[gamiry]

what a nasty person you are,

NO I'm a proud Australian who is sick of having Pommy rubbish shoved down my throat. He smashed up 2 families, screwed up his own kids, big ??? over how much he had to do with Diana's death AND IGNORED HIS OWN MOTHER who told him that horseface would never be queen and the minute his mother was dead Camilla got what she ALWAYS said she would... become queen. And you want us to respect THAT??? No thank you. One of my dearest friends is English by birth so I'm not against the English only the scandalous mob who think they are better than anyone else and even kick their own in the guts without proof.

 

[Marzbar7]

All the higher powers want to do is devided this country we are still part of the monarchy have a bit of respect

 

[bluesbrother]

I’ve got to be honest, I’m sick of seeing aboriginal designs everywhere. The dot paintings was introduced by a teacher Geoffrey Bardon so technically the dot paintings are not traditional aboriginal design, if I were a member of the Bardon family I would charge the aboriginal people for the use of his design, let’s face it the aboriginal councils charge mining companies millions for the use of land they claim is there’s. As much as I don’t like Charles he is our monarch and he should be in our $5 note using the exact same design as the current $5 note, with no changes.

This is not correct, CN. Dot painting was not 'introduced' by Bardon; he simply encouraged Western Desert painters to work on board and canvas (for commercial reasons) rather than sand and bark. For years my family had a bark dot painting bought in 1961 outside Yalata Mission. Geoff Bardon was still at Sydney art school at this time. As much as I reckon Charles is the best of the current (pointless) royals and sadly dumped upon for various reasons stemming from the conservative nature of 'The Firm', I can't see any reason for not using the new RBA design. I imagine the artwork is not the major part of the re-design; anti-forgery measures are usually most of the cost.

 

[IAN3005]

All the higher powers want to do is devided this country we are still part of the monarchy have a bit of respect

Respect went out the door long ago.......

 

[Rita J]

King Charles deserves to be on our note. We have enough Aboriginal faces on our other noted

 

[Towing]

If Uluru is used that means only NT is recognised. If you are going to change it use a national symbol that recognises all states and put dots in it.

 

[Kman]

What for??? Leave QEII on it for now. Chuck will be dead soon enough.

 

[Morgzz]

Charles is our Monarch while we are part of the commonwealth ,and is recognised as such. He has a place on our note, but this painting of him looks like he is really sick on his death bed. Make him smaller and with his crown as a king. Get rid of the Aboriginal design, so over their domination, leave the rest of the note design alone.