The Member for Kennedy unveiled a mock-up version of the coin today featuring the image of an Indigenous warrior Tubba Tre.
He said there was no reason a “foreigner” should be the face of the nation’s coins.
Australian army leader Ralph Honner, who was a distinguished soldier during the Kokoda track campaign should also be featured, Katter continued.
“You have a choice of putting on your coin an English person or putting an Australian,” he said.
“The choice is you can put on Ralph Honner who is one of the greatest Australians ever.
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“But you put an English person who is a monarch. You either believe everyone is born free and equal or you don’t.”
Final coin to feature Queen Elizabeth II revealed
Katter, who has been in politics for more than 50 years, also said he ”refused to swear allegiance to a foreign monarch”.
He will be only the second monarch to adorn Australian decimal currency.
The other denominations will be released next year, based on demand from the banks as they run out of Elizabeth-embossed coinage.