The first paper money to be used all over Australia were made by fifteen banks and the Queensland government made between 1910 and 1914 . There were 1 , 5 , 10 , 20 , 50 and 100 Pound banknotes . The first national issue of paper money consisted of overprinted notes from fifteen private banks and the Queensland government , issued between 1910-1914 in denominations of 1 , 5 , 10 , 20 , 50 and 100 pounds .