The Australian 5 cent coin was first introduced with decimalisation on 14 February 1966 when it replaced the pre-decimal Australian sixpence. The original reverse design by Stuart Devlin has not been changed since its introduction.
The denomination is occasionally used by both the Royal Australian Mint and the Perth Mint to issue collector coins, which are legal tender in Australia - such as this one.
This coin was issued as part of the 1999 Masterpieces in Silver - Coins of the 20th Century: Memories six-coin set, highlighting important times in Australian history (mintage limit 15,000, issue price A$125.00). The reverses of each coin show a historic Australian coin design, in mirror-finish proof; the denomination and value are on the obverse.
The five cents coin depicts a 1939 kangaroo-type halfpenny. In 1939, the old design of the half penny was superseded by the Kangaroo design, but only a small number of coins were made with it; it is one of the key dates in the series.
The ten cents coin depicts a 1930 penny.
The twenty cents coin depicts a 1942 threepence.
The fifty cents coin depicts a 1918 sixpence.
The one dollar shows a 1940 shilling.
The two dollar coin shows a 1920 sovereign.
These coins are Non-Circulating Legal Tender (collector issue); composition: fine silver (99.9%). No coins of this type have been released into circulation.