Reserve Bank of Australia Museum, Sydney

4.7
#19 of 44 in Museums in Sydney
The Reserve Bank of Australia , on 14 January 1960, became the Australian central bank and banknote issuing authority, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank.The bank has the responsibility of providing services to the Government of Australia in addition to also providing services to other central banks and official institutions. It currently consists of the Payments System Board, which governs the payments system policy of the bank, and the Reserve Bank Board, which governs all other monetary and banking policies of the bank.Both boards consist of members of both the bank, the Treasury, other Australian government agencies, and leaders of other institutions that are part of the economy. The structure of the Reserve Bank Board has remained consistent ever since 1951, with the exception of the change in the number of members of the board. The governor of the Reserve Bank of Australia is appointed by the Treasurer and chairs both the Payment Systems and Reserve Bank Boards and when there are disagreements between both boards, the governor resolves them.From the middle of the 19th century into the 1890s, the prospects of a national bank forming grew. In 1911, the Commonwealth Bank was established, but did not have the authority to print notes, which was a power that was still reserved to the Treasury. A movement toward reestablishing the gold standard occurred after World War I, with John Garvan leading various boards in contracting the money supply on the route to doing so, and the gold standard was instituted for both the British pound sterling and the Australian pound in 1925.
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Reserve Bank of Australia Museum Reviews
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4.8
TripAdvisor
  • The Museum is one of the "hidden gems" of Sydney. Located near Sydney Hospital in St. Martin Square near the Law Courts. In the museum there are many exhibit about Australia's currency, how money printing and design process money. There is a tour guide to provide information about the museum. Very good
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  • I wanted to check this place out and brought a friend along. We headed into the lobby not long after it opened. This meant we were the first there, so the curator, Geoff, was really helpful and explai...  more »
  • Free. Very good quality displays. Finals display with giant touchscreen allowed deep understanding of the new polymer notes.  more »
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  • The Reserve Bank of Australia: Museum of Australian Currency Notes", Martin Place: Did you know there is a museum inside the Reserve Bank of Australia? Don't worry, according to the security guards who work there, neither do most Sydneysiders! Offering free entry, the museum is open Monday to Friday, 10-4pm. It's actually surprisingly interesting, providing a detailed look at our countries fiscal history. The Mint across the road looks after coins, but this place has the paper money, including original bank notes from early settlement days. Do yourself a favour a pop in for a look one day.
  • Good free museum. Usually not crowded at all. Kids have fun seeing old money. Informative stories.
  • An interesting little museum. I found it by accident when touring the city. The museum is administered by the State and is free of charge. It's a self guided tour that takes you through the issued currency of Australia. Children may find it boring but it only takes 30-45 minutes to go through. If you are a currency collector you'll enjoy the experience.

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