<P> The Australian two dollar coin is the highest - denomination coin of the Australian dollar . It was first issued on 20 June 1988, having been in planning since the mid-1970s . It replaced the Australian two - dollar note due to having a longer circulatory life . </P> <P> The one dollar and two dollar coins are legal tender up to the sum of not exceeding 10 times the face value of the coin concerned . </P> <P> In accordance with all other Australian coins, the obverse features the portrait of the reigning monarch, who during the lifetime of the coin has only been Queen Elizabeth II . From 1988 to 1998 the portrait of her was by Raphael Maklouf before being replaced in the following year by one sculpted by Ian Rank - Broadley . </P> <P> Designed by Horst Hahne, the reverse depicts an Aboriginal Elder, inspired by an Ainslie Roberts drawing of Gwoya Jungarai, known as One Pound Jimmy . However, the design is not intended to depict any person in particular . The design also incorporates the Southern Cross and native grasstrees . The initials of its designer, Horst Hahne, were removed from the design from 1990 onwards . </P>

Who is on the 2 dollar coin australia