Imagine this: A brand-new currency, designed to be unbreakable, ultra-secure, and impossible to counterfeit—until a ragtag gang of criminals proved everyone wrong.
This isn’t a Hollywood script. This is the true story of Australia’s 1966 dollar crisis, the audacious forgers who exploited it, and the brilliant chemist who invented polymer banknotes in response.
From watercolor forgeries to indestructible plastic money, this is the wild history behind one of the greatest financial innovations of our time.
It was 1966. Australia unveiled its new decimal currency, shifting from pounds and shillings to dollars and cents. It was a fresh start—a symbol of modernity and national progress. Sleek, secure, and backed by the latest anti-counterfeit features, the $10 note was a marvel.
Or so they thought.
Robert Douglas Kidd wasn’t your average criminal—he was a mastermind with an eye for opportunity. Seeing a crack in the security of the brand-new Australian currency, he assembled an unlikely crew:
A photographer to capture intricate designs
An artist to forge fake watermarks
And a tailor—yes, a tailor—who taught himself to print in just one week
Using nothing but a camera lens, a watercolor press, and basic paper, they produced tens of thousands of counterfeit $10 notes. They weren’t cheap knockoffs either—these fakes were so flawless, they fooled banks. Transactions flowed. ATMs spat them out. Trust, the backbone of any currency, was shattered.
Eventually, the gang was caught. But the damage? Already done.
The Reserve Bank of Australia was shaken. If high-quality counterfeits could be made so easily, how could any paper money be trusted again?
In 1968, the bank turned to an unlikely hero—David Solomon, a brilliant chemist with a problem to solve:
“Create money that cannot be faked.”
Solomon drew inspiration from something most of us overlook: a plastic business card. What if currency wasn’t made of paper at all? What if it could be printed on something far more secure—yet durable and practical?
After years of research and innovation, Solomon and his team, working with the CSIRO (Commonwealth Scientific and Industrial Research Organisation), created a world-first: the polymer banknote.
On Australia Day in 1988, the world’s first polymer banknote was issued—a $10 commemorative note celebrating the country’s bicentenary.
It wasn’t just a triumph of security—it was a triumph of science, resilience, and innovation.
Slowly, other nations took notice. Over the next decades, countries began adopting polymer banknotes, including Canada, New Zealand, United Kingdom, Nigeria, Singapore, Romania
Today, over 76 countries use polymer currency—some entirely, others partially. And thanks to Solomon’s invention, global counterfeit rates have plummeted.
It’s ironic. The very crime that nearly destroyed Australia’s trust in its currency led to one of the greatest innovations in monetary history. If Robert Kidd hadn’t tried to cheat the system, David Solomon might never have been asked to outsmart him.
The story of polymer banknotes is more than just science and security—it’s a story of bold risks, brilliant minds, and unexpected heroes.
And now, in a world of digital wallets, crypto, and contactless payments…
The future of money might just be no money at all.
But whatever shape it takes next, we’ll always remember when cash went plastic—and why.
As digital transactions rise, physical banknotes and coins are becoming historical treasures. By collecting them, you help preserve a piece of our history. At Dazzle Monk, we offer a carefully curated Numismatic, Notaphily collection of authentic and rare items. Start your journey with us today.
