A typo so expensive to fix, it stays in Australia's pockets
A typo so expensive to fix, it stays in Australia's pockets
TIMESOFINDIA.COM | Updated: May 10, 2019, 11:12 IST
HIGHLIGHTS
- The new note, which has a host of security features to prevent counterfeiting and includes microprint of a speech by Australia's first female parliamentarian, Edith Cowan, misspells the word 'responsibility'
- The A$50 currency is the most widely circulated in Australia and accounts for nearly half the total value of other banknotes in use
NEW DELHI: A red-faced central bank of Australia admitted to an embarrassing error on Thursday — its state-of-the-art $50 note released in October last year has a typo. That after 46 million of $50 notes (worth $2.3 billion) have already been circulated with the typo. The A$50 currency is the most widely circulated in Australia and accounts for nearly half the total value of other banknotes in use, according to the
Reserve Bank of Australia
(RBA).
Whose 'responsibilty'?
The new note, which has a host of security features to prevent counterfeiting and includes microprint of a speech by Australia's first female parliamentarian, Edith Cowan, misspells the word 'responsibility'. "I stand here today in the unique position of being the first woman in an Australian parliament. It is a great responsibilty," the text reads, missing an "i". Cowan served as the first woman elected to an Australian legislature from 1921 to 1924
The typo appears in an excerpt of Cowan’s maiden speech to Western Australia’s parliament, which features on the A$50 note. The yellow and green note came into circulation on October 18, 2018 with new security features designed to deter counterfeiting and with tactile elements for the visually impaired.
It's here to stay:
The script is barely legible to the naked eye and the Reserve Bank of Australia has no plans to pull the notes from circulation. The spelling will be corrected at the next print run, it says. Australia was the first country to use polymer banknotes, which have increased durability compared to paper notes, which means the life of these banknotes will be long.
The error is being corrected as part of a normal print run so there is no additional cost,” the bank said in a statement. “We are not withdrawing or recalling banknotes with the spelling error," it added. A bank representative was quoted arguing that mistakes happen, according to the Australian Broadcasting Corporation.
The admittedly tiny mistake, on the new A$50 note, came to light this week after someone spotted the typo and alerted a radio station to the problem
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