Queen’s portrait to be removed from $5 note and replaced with First Nations theme

The Reserve Bank of Australia says the Queen will no longer grace the $5 note and will soon be replaced by another image. And, no, it’s not the King.

The bank says it wants to try something new on the $5 note, not simply replacing the Queen with another portrait but an image that reflects what has shaped Australia and helped the nation grow.

On Monday, it was announced that the new image would be an artwork honouring the “enduring emotional, spiritual, and physical connection of First Nations peoples to Country.”

An imagery selection panel, which includes senior representatives from the Reserve Bank and Note Printing Australia, along with prominent First Nations business and community members, made the decision after an Australia-wide campaign which led to more than 2100 nominations from the public.

The reverse side of the note will continue to feature Parliament House.

When the redesign was first flagged in February 2023, Opposition Leader Peter Dutton blasted it as an “attack on society” and “woke nonsense”.

He was quoted saying that replacing British royalty with Indigenous history was “another attack on our systems, on our society and our institutions” and likened it to the campaign to move Australia Day away from January 26.

But at the time Jim Chalmers was supportive.

“This is the right decision for the right reasons … to ensure that the new $5 note recognises and celebrates the culture and history and heritage of Indigenous Australians,” he said.

Dr Chalmers, who supports Australia becoming a republic, said switching up the $5 note struck a good balance between recognising the monarch on our coins and recognising First Australians on the $5 note.