The Australian Monarchist League is advocating for a redesign of the $5 note to feature a portrait of King Charles III, replacing the current design which has depicted the late Queen Elizabeth II since 1992. The proposed design suggests positioning the King’s image on the right, complemented by an illustration of Uluru on the left, with Indigenous artwork featured in the middle.
In 2023, the Reserve Bank of Australia (RBA) announced that the new $5 note would not include a portrait of the monarch, opting instead to honour Australia’s Indigenous communities with the theme “Connection to Country.” This aligns with the RBA’s decision to remove royal portraits in light of shifting societal values. Despite the planned redesign, the reverse side of the note will retain the image of Parliament House in Canberra.
The Monarchist League has expressed strong opposition to the decision to exclude the King’s portrait, arguing that their proposed design reflects the historical ties between Indigenous Australians and the constitutional monarchy. Jack Barton, a spokesperson for the League, stated that the design would resonate positively with Australians, in contrast to the government’s decision, which he described as divisive.
The League plans to formally present their suggested design to the RBA as the bank prepares to replace the existing note. Following the passing of Queen Elizabeth II in 2022, the RBA indicated that the redesign aims to celebrate the culture and history of First Australians. The rollout of the new $5 note is projected to take several years, and the current version, which started circulating in 2016, will remain in use until then.
In summary, while the final design of the $5 note remains undecided, the Monarchist League’s push for King Charles III’s portrait signifies a desire to maintain royal representation in national currency against a backdrop of evolving cultural recognition.