Australians could soon find a new $1 coin in their wallets, but this one has a catch and its for the greater good.

The Royal Australian Mint has unveiled its new Donation Dollar, a $1 coin designed to be donated which 57 per cent of Australian said they would donate if they found one in their coin purse.

Millions of these coins will join circulation during the next few years with the aim to release 26 million eventually, or one for every Australian.

And they could appear in people's wallets from as early as Wednesday with three million already released into circulation.

Each of the coins features a green centre with a gold ripple design. The hidden meaning behind the design is it is intended to act as a symbol of the ongoing impact each donation makes to those who need it most.

The Mint said the scheme comes in response to a difficult year for many Australians who faced the worst bushfire season on record, following by the coronavirus crisis which triggered economic recession.

The Australian Generosity Report found one in five Australian will require some degree of charitable aid over the next 12 months, either for themselves or family.

Royal Australian Mint CEO Ross MacDiarmid said the proposal should tap into Australians' "spirit of generosity".

"Like any other one dollar coin, the cycle of a Donation Dollar is ongoing, as is its potential for positive impact," he said.

"If every Australian donated a Donation Dollar just once a month, it has the potential to raise an additional 300 million dollars annually for those who need it most."

The new coins can be donated wherever cash donations are accepted. For instance, receivers can donate it to their charity of choice, to a struggling business, or to anyone in need.

Originally published as Hidden meaning in new $1 coin design