<Tr> <Th> Designer </Th> <Td> Horst Hahne </Td> </Tr> <Tr> <Th> Design date </Th> <Td> </Td> </Tr> <P> The Australian 2 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> 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>

When did the $2 coin come out in australia