The Royal Australian Mint and national science agency CSIRO have joined forces to showcase marine life which call the southern and eastern coastline home.
It's the first time in two years the mint has been able to host the popular annual event which is expected to draw hundreds of keen coin collectors from across Australia.
Only one lucky enthusiast will take home the prized first coin of the new year.
The collection will celebrate rarely seen creatures from the deep including the bigfin squid, brittle star, dumbo octopus, gold coral, cactus urchin and spiny king crab.
CSIRO acting chief executive Elanor Huntington said the discoveries were made by the agency's flagship research vessel, Investigator.
"So much of our deep ocean remains a mystery, we know more about the surface of Mars than we do about our deepest oceans," Professor Huntington said.
"The 2023 new coin collection highlights these collaborative voyages and the significant contribution they have made to better understand life in our oceans."
The reverse side will have the portrait of Queen Elizabeth II as the Mint prepares to transition to coins featuring King Charles III, due to enter circulation in late-2023.
It will be the last time a new design of the late monarch will be released and will pay tribute to her 70-year reign with the words "Elizabeth II 1952-2022".
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