The $1 (10/-), $2 (£1), $10 (£5), and $20 (£10) had exact exchange rates with pounds and were a similar colour to the notes they replaced, but the $5 (£2/10) did not, and so was introduced after the public had become familiar with decimal currency. Notes issued between 1966 and 1973 bore the title "Commonwealth of Australia". Starting from 1974, the title on the new notes only read "Australia" and the legal tender phrase was also changed from "Legal Tender throughout the Commonwealth of Australia and the territories of the Commonwealth" to "This Australian Note is legal tender throughout Australia and its territories". The $50 note was introduced in 1973 and the $100 note in 1984, in response to inflation requiring larger denominations for transactions. The one dollar note was replaced by a coin in 1984, while the two dollar note was replaced by a smaller coin in 1988. Although no longer printed, all previous issues of Australian dollar banknotes are considered legal tender.
There were initial difficulties with the first banknote issued; the $10 note (pictured above) had problems with the holographic security feature detaching from the note. However, the Reserve Bank saw potential in the issue of plastic banknotes and commenced preparations for an entirely new series made from polymer, commencing with the $5 note in 1992. In April 1995, the design of the $5 note was updated to match the rest of the New Note Series, with additional slight changes in 1996. In 2001, a special commemorative 'Federation' $5 note was produced, but in 2002, the previous version's production commenced again.
From 2002, the design of all notes (except for the $5 note picturing the Queen) was slightly changed to include the names of the people pictured on them under the portraits, and swapping the order of the signatures of officials on the notes.