You're standing at a coffee shop in Melbourne. The barista slides a flat white across the counter and says, "That'll be five bucks, mate." You reach into your wallet, pull out a bright, plastic-feeling note, and realize you're holding one of the most advanced pieces of currency on the planet. But if you're asking what is an Australian dollar called, the answer depends entirely on whether you're talking to a banker or a guy at a pub in Alice Springs.
Officially? It's the Australian Dollar. It uses the code AUD. Most people just use the symbol $. If they need to be specific to distinguish it from the US greenback, they'll write it as A$ or AU$.
But nobody actually says "Australian Dollar" in casual conversation. That’s way too formal for a country that shortens every word it touches.
The official name and its surprisingly short history
The Australian Dollar didn't always exist. Before 1966, Australia was stuck with the Australian pound. It was a messy system of pounds, shillings, and pence, inherited from the British. Imagine trying to do math with 12 pence to a shilling and 20 shillings to a pound. It was a headache.
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When the government decided to switch to a decimal system, they had a bit of a mid-life crisis regarding the name. They almost called it "The Royal." Seriously. Prime Minister Robert Menzies was a massive fan of the monarchy and pushed hard for it. The public absolutely hated it. People sent in death threats over the name. Other rejected names included the Austral, the Oz, the Boomer, the Roo, and the Kwid.
Eventually, they landed on the "Dollar" because it was simple. On February 14, 1966, the AUD was born.
What is an Australian dollar called on the street?
If you want to sound like a local, stop saying "Australian Dollar."
The most common slang term is buck. You’ll hear this everywhere. "It’s ten bucks." "Can I borrow a couple of bucks?" It’s a direct carry-over from American influence, but it’s rooted deep in the Aussie psyche now.
Then you have the more colorful nicknames. Because the notes are different colors, Australians often refer to them by their hue. A $5 note is often called a "Pinkie" or a "Galah" (after the pink bird). The $10 note is blue, so it's a "Blue swimmer" or a "Bluey." The $20 note is orange, which leads people to call it a "Lobster." The $50 note? That’s a "Pineapple." And the elusive $100 note—the one you rarely see unless someone is flexin' or paying a tradie in cash—is a "Granny Smith" or a "Jolly Green Giant."
Honestly, it’s a bit of a rainbow in your wallet.
Why the "plastic" feel matters
You’ve probably noticed the money feels weird. It’s not paper. Australia was the first country in the world to introduce polymer (plastic) banknotes back in 1988.
Why? Because Aussies spend a lot of time at the beach. Paper money doesn't survive a accidental trip into the surf inside a boardshort pocket. Polymer does. It's also nearly impossible to tear and way harder to counterfeit. If you try to rip a $20 note, you're going to lose that battle. It just stretches a bit and laughs at you.
The coins: Goldies and Silvers
When you get into the change, things get even more specific. The $1 and $2 coins are gold in color (though they are actually made of copper, nickel, and aluminum). Locals call them "Gold coins" or "Goldies."
If someone asks you for a "gold coin donation," they are literally asking for a one or two-dollar coin.
The $2 coin is actually smaller than the $1 coin. It’s thicker, though. This trips up travelers all the time. You’d think the higher value coin would be bigger, but Australia likes to keep you on your toes. The 50-cent piece is a monster. It’s a dodecagon (12-sided) and heavy enough to break a window if you threw it hard enough.
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The "Pacific Peso" period
There was a time, mostly in the early 2000s and occasionally during commodity crashes, when the Australian Dollar was mockingly called the "Pacific Peso." This happened when the value of the AUD dropped significantly against the US Dollar.
Because the Australian economy is so heavily tied to mining and resources (iron ore, coal, gold), the currency fluctuates wildly. When China is buying tons of Australian dirt, the AUD is "strong." When global manufacturing slows down, the AUD takes a dive.
Spotting the faces on the notes
If you're looking at your cash and wondering who these people are, you're looking at a history lesson. Australia is pretty good about gender representation on its money. Every note (except the five) has a man on one side and a woman on the other.
- $5: Formerly Queen Elizabeth II, now transitioning to a design honoring First Nations culture and history.
- $10: AB "Banjo" Paterson (the poet who wrote Waltzing Matilda) and Dame Mary Gilmore.
- $20: Mary Reibey (who arrived as a convict and became a tycoon) and the Reverend John Flynn (founder of the Royal Flying Doctor Service).
- $50: David Unaipon (an Indigenous inventor and author) and Edith Cowan (the first woman elected to an Australian parliament).
- $100: Dame Nellie Melba (world-famous soprano) and Sir John Monash (General and engineer).
It’s a diverse crew.
Practical tips for handling Australian cash
If you’re heading Down Under or just dealing with AUD for the first time, keep these realities in mind.
First, Australia is rapidly becoming a cashless society. In cities like Sydney or Brisbane, you can go weeks without touching a "Pineapple." Tap-and-go (contactless payment) is the standard everywhere, from high-end boutiques to the smallest fruit stalls. Even buskers often have QR codes or card readers now.
However, "Cash is King" still applies in the Outback. If you're driving through the Nullarbor or visiting remote towns in the Northern Territory, always carry a stash of physical bucks. Power outages or satellite glitches can render card machines useless in the middle of nowhere.
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Also, watch out for the "surcharge." Many Australian businesses pass on the cost of card processing to the customer. It's usually between 0.5% and 1.5%. It’s annoying, but it’s legal and common.
What you should do next
If you are currently holding Australian Dollars or planning a trip, don't just leave them sitting in a drawer. The exchange rates are volatile.
- Check the current mid-market rate. Use a tool like XE or Google Finance to see where the AUD stands against your home currency today.
- Download a multi-currency app. If you're traveling, skip the airport exchange booths. They are a rip-off. Use something like Wise or Revolut to get the "real" exchange rate and avoid the "tourist tax."
- Learn the colors. Memorizing that Pink = 5, Blue = 10, Orange = 20, and Yellow = 50 will save you from fumbling at the checkout while a line of impatient locals forms behind you.
- Spend your coins. Unlike notes, coins are heavy and hard to exchange back once you leave the country. Use your "Goldies" for coffee or tip your bartenders.
The Australian Dollar is more than just a currency; it's a reflection of the country's move away from British roots toward a unique, colorful, and slightly informal identity. Just remember: call it a buck, watch out for the "Lobsters," and never try to rip the plastic.