Sydney's early architect Francis Greenway, and Henry Lawson, one of Australia's best known poets and short story writers, were shown on the $10 note. Australia's banknotes were also transformed in this period. In 1988, harry Williamson was chosen to lead the design team, with a theme of 'settlement'. First banknote in the world to be printed on a non-fibrous polymer substrate.
1966 Coombs/Wilson Uncirculated
Prefixes XAB - XBN L: $62 H: $150 [$150] [$150]
First Prefix XAA L: $353 H: $666 [$675] [$675]
Last Prefix XBP L: $331 H: $569 [$700] [$700]
1967 Coombs/Randall Uncirculated
First Prefix XBQ L: $3640 H: $3700 [$8750] [$5250]
Prefix XBR L: $3680 H: $9100 [$5750] [$8000]
Last Prefix XBS L: $5000 H: $11100 [$9500] [$9000]
1968 Phillips/Randall Uncirculated
Prefixes XBT - XET L: $245 H: $413 [$400] [$400]
First Prefix XBS L: $450 H: $788 [$800] [$800]
Last Prefix XEU L: $321 H: $725 [$725] [$725]
STAR Prefix ZXA L: $14400 H: $25500 [$31500] [$31500]
1972 Phillips/Wheeler Uncirculated 'Commonwealth of Australia'
Prefixes XEW - XGX L: $270 H: $325 [$450] [$400]
First Prefix XEV L: $456 H: $825 [$800] [$800]
Last Prefix XGY L: $506 H: $774 [$875] [$900]
1974 Phillips/Wheeler Uncirculated 'Australia'
Prefixes XGS - XLG L: $658 H: $1400 [$500] [$475]
First Prefix XGY L: $1050 H: $2300 [$2300] [$2300]
Last Prefix XLH L: $438 H: $763 [$800] [$850]
1976 Knight/Wheeler Uncirculated
Prefixes XLK - XST Centre Thread L: $199 H: $398 [$400] [$400]
First Prefix XLJ Centre Thread L: $413 H: $675 [$675] [$675]
Last Prefix XSU Centre Thread L: $444 H: $750 [$775] [$775]
Prefixes XQS - XUY Side Thread L: $275 H: $560 [$480] [$480]
First Prefix XQR Side Thread L: $3500 H: $6000 [$6000] [$6000]
Last Prefix XUZ Side Thread L: $494 H: $850 [$900] [$900]
1979 Knight/Stone Uncirculated
Prefixes XVB - VDQ Gothic L: $116 H: $220 [$220] [$220]
First Prefix XVA Gothic L: $294 H: $525 [$575] [$650]
Last Prefix VDQ Gothic L: $438 H: $750 [$725] [$725]
Prefixes VDS - VGW - OCR-B L: $190 H: $320 [$325] [$325]
First Prefix VDR - OCR-B L: $1000 H: $1730 [$1750] [$1750]
Last Prefix VGX - OCR-B L: $431 H: $750 [$850] [$850]
1983 Johnston/Stone Uncirculated
Prefixes VFW - VQJ L: $116 H: $170 [$240] [$240]
First Prefix VFV L: $450 H: $800 [$875] [$900]
Last Prefix VQK L: $419 H: $725 [$725] [$725]
1985 Johnston/Fraser Uncirculated
Prefixes VQM - EYC - OCR-B L: $59 H: $156 [$130] [$120]
First Prefix VQL - OCR-B L: $200 H: $363 [$400] [$500]
Last Prefix EYD - OCR-B L: $363 H: $600 [$650] [$750]
Prefixes EJZ - ENA Gothic L: $455 H: $550 [$650] [$625]
First Prefix EJY Gothic L: $681 H: $1350 [$1200] [$1150]
Last Prefix ENB Gothic L: $1030 H: $1850 [$1850] [$1950]
1989 Phillips/Fraser Uncirculated
Prefixes EVK - EYC L: $75 H: $220 [$180] [$180]
First Prefix EVJ L: $288 H: $525 [$500] [$550]
Last Prefix EYD L: $363 H: $513 [$475] [$500]
1989 Fraser/Higgins Uncirculated
Prefixes EYF - RKA L: $68 H: $186 [$150] [$150]
First Prefix EYE L: $255 H: $463 [$500] [$550]
Last Prefix RKB L: $288 H: $538 [$550] [$650]
1991 Fraser/Cole Uncirculated
Prefixes RHH - ABP L: $58 H: $119 [$120] [$110]
First Prefix RHG L: $263 H: $463 [$475] [$475]
Last Prefix ABQ L: $513 H: $913 [$900] [$1100]
Prefix AAA [Issued by NPA] L: $97 H: $158 [$190] [$190]
1993 Fraser/Evans Uncirculated
Prefixes RZW - ADJ L: $55 H: $136 [$110] [$110]
First Prefix RZV L: $213 H: $375 [$375] [$425]
Last Prefix ADK L: $63 H: $210 [$135] [$135]
Prefix AAA [Issued by NPA] L: $101 H: $164 [$200] [$200]
Phillips-Wheeler banknotes of 1972
Phillips-Wheeler banknotes of 1974
Starting in 1974, the Reserve Bank added a metallic security thread down the center of banknotes as a new security feature. Because the center position is also the place where people fold their banknotes, they used prematurely. This is why the Reserve Bank moved the position of the thread to the side. The location of the thread (a dark line) can easily be found by looking at the banknote with enough lights passing through it.
It refers to the font used for the serial number. Gothic font is narrow compared to the OCR-B one.
It refers to the font used for the serial number. OCR-B (Optical Character Recognition) font is narrow compared to the Gothic one. OCR-B function was to facilitate the optical character recognition operations by specific electronic devices. It was accepted as the world standard in 1973.
It refers to the star (pre-decimal) or asterix (decimal) that can be found at the end of the serial number to indicates replacement notes.
LAST UPDATED: 2nd September 2025
1968 $20 Phillips/Randall “Star” — ZXA 34431* (VF)
A scarce survivor from Australia’s early decimal era, this Commonwealth of Australia $20 carries the asterisk (“*”) after its serial — marking it as a star replacement note. Star notes were inserted to replace misprinted sheets and, in Australia, were used from 1948 until 1972, making them a finite—and avidly pursued—subset of our paper money.
What sets this piece apart is its prefix. For the 1968 $20 signed Phillips/Randall, ZXA was the only star prefix, with a tightly limited run of 62,500 notes (numbered ZXA 00001–62500**), roughly 1 star per ~1,053 regular notes. Your note ZXA 34431* sits squarely in that range.
Design-wise, the note showcases Sir Charles Kingsford Smith at right and Lawrence Hargrave on the back—Gordon Andrews’ bold, modernist tribute to Australian aviation. Like all early decimal paper notes, it bears the Captain James Cook watermark and the “Commonwealth of Australia” title (used until 1974).
Grade & Eye Appeal (VF)
In Very Fine (VF), expect several vertical and horizontal folds, light handling, and honest circulation tone, but with sound paper, intact margins, and no major faults. Star notes in true VF still present well, retaining good colour and detail.
Market snapshot (Australia)
Dealers regularly flag the 1968 $20 ZXA star as the key and only star of the $20 paper series, which underpins demand.
Recent comparable dealer listings for ZXA star $20s show VF examples offered in the low-to-mid A$2,000s–A$3,000s (context: asking prices vary by eye appeal and certification).
Fast facts
Type: Star replacement (asterisk after serial)
Serial: ZXA 34431* (within the sole star range)
Signatures: M.J. Phillips / R.J. Randall (1968)
Issue context: Only $20 star of the paper series (1966–1993)
Design & security: Kingsford Smith / Hargrave; Captain Cook watermark; “Commonwealth of Australia” legend (pre-1974 paper)
Collectors’ note
Because it’s the only $20 star and has a single, short prefix run, ZXA-star notes command a premium across grades. In VF, originality (unpressed paper, no repairs), neat margins, and absence of pinholes or edge nicks materially influence price. Certification by a recognized TPG can improve liquidity in auction settings.
Auction BUY: $1500
Private SALE: $3425
ROI: 128.3%
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