Notes : The Commonwealth of Australia was replaced by Australia. According to Michael Vort-Ronald's publication Australian Decimal Banknotes : Paper Issues [Second edition, 2000, ISBN 0958758093] the change took place following a directive of then Prime Minister, Gough Whitlam, that where possible, references to the 'Commonwealth of Australia' should be changed to 'Australia' in official descriptions generally. Mr Whitlam believed that the term 'Commonwealth' no longer carried the same sort of relevance in the 1970s, in particular because of its associations with "British Commonwealth" and "Commonwealth of Nations". The Government reviewed the wording in 1977 but decided not to direct the Reserve Bank to change it due to the cost involved and other factors, such as consistency in the use of 'Australia' on both banknotes and coins.

Valuation : r85 – Mc125 # Phillips/Wheeler Two Dollar Banknotes