Some Aussie icons that may surprise you appear on $1 coins

Australia Post said the new alphabetical $1 coins have been named to "celebrate iconic and admired symbols of Australian life from Akubra to zinc".

The new coins, produced in partnership with the Royal Australia Mint, also include recognisable Australian landmarks, like Q for Queen Victoria Market and S for the Sydney Harbour Bridge; much-loved brands, like M for MILO, T for Tim Tam and V for Victa Lawnmower; and even H for longstanding television program Home and Away.

There's an extra incentive for collectors because 10 per cent of full collections contain a special coloured Great Barrier Reef coin which Merimbula Post Office manager Paul Gersbach, noted was currently on ebay with a hopeful vendor looking for $299.

At Merimbula Post Shop you can make a purchase and receive the $1 collectable coins in change, or purchase the entire collection instore.

The one dollar coin was first introduced on May 14, 1984. Planning for a one dollar coin commenced as early as the mid-1970s. It was recognised that Australia needed a higher value coin which could be practically used in coin operated machines and to replace the one dollar note which had a short service life through high use.

Stuart Devlin was commissioned to design the reverse of the new coin. The five kangaroos design was chosen from submissions received from the designer.

This denomination has since been used for commemorative designs.

No $1 coins were produced in 1989, 1990 and 1991.

In 1984 186.3m $1 coins were minted but in 1992 just 80,000 were minted.

Various important events have been commemorated on the $1 coin including the centenary of the constitutional conventions that led to federation, centenary of women's suffrage, the 60th anniversary of the end of World War 2, centenary of ANZAC 2014-2018 and in 2020 production of the world's first one dollar coin designed to be donated.

Nominal specifications

Composition: 92% Copper - 6% Aluminium - 2% Nickel

Shape: Circular

Edge: Interrupted Milled

Mass: 9.00 grams

Diameter: 25.00 millimetres