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.The only "mint set only" year was 1991. $2 coins are legal tender for amounts not exceeding 10 times the face value of the coin for any payment of a debt.