Secret squirrelling
When “DC Day” dawned on Monday, July 10, 1967, the nation’s banks were flush with brand-new crisp dollars and shiny coins. Most had closed their doors the previous Wednesday to ready themselves for the massive changeover.
One little-known aspect of the switch was the hush-hush operation to deliver more than $4 billion worth of newly minted cash to 592 bank branches up and down the country.
Run by the Reserve Bank, so-called Operation Overlander took three secretive months to complete. Over that time, 30 tonnes of notes and 700 of coins were transported by rail, road and ferry, using special trains and dedicated eight-tonne trucks.
Police were fully involved, with two officers standing guard every time the money trains stopped. Overlander proved a total success; the Reserve Bank quietly crowed “not one cent was misplaced”.