The new power allowed the Commonwealth to issue legal tender rather than individually through the six former British self-governing colonies of Queensland, New South Wales, Victoria, Tasmania, South Australia, and Western Australia.
These new coins, which included florins, shillings, sixpences and threepences, were all minted with a portrait of Edward VII.
A year later Australian pennies and half-pennies entered circulation.
In 1898 the British government allowed two colonies, New South Wales and Victoria, to mint silver and bronze coins at their mints in Sydney and Melbourne respectively.
In 1946, due to costs incurred during World War II,[citation needed] the silver content of the coins was reduced from 0.925 to 0.500 of the coin weight,[citation needed] which lasted until decimalisation on 14 February 1966.