history [edit ]
Prior to 10 July 1967, the New Zealand pound, using the £sd system, was the currency of New Zealand. Coins of the pound tend to follow the size, system of weights, and composition of their british counterparts. The chief coins in custom were the halfpenny ( 1⁄2d ), penny ( 1d ), threepence ( 3d ), sixpence ( 6d ), shilling ( 1s ), guilder ( 2s ), and halfcrown ( 2s 6d ) .
first base coins [edit ]
decimalization of the New Zealand currency occurred on 10 July 1967, when the New Zealand pound was replaced by the New Zealand dollar at a rate of one pound to two dollars ( 10 shillings to a dollar ). On the same day, new decimal coins were introduced to replace the existing pound coins. The first coins of the New Zealand dollar were 1c, 2c, 5c, 10c, 20c, and 50c. The 1c, 2c, and 50c coins were raw sizes, with the 1c and 2c minted in bronze, and 50c in cupronickel. The new 5c, 10c, and 20c were the same size, burden, and value as the former sixpence, somalian shilling, and guilder coins. indeed, until 1970, the 10 cents coin bore the extra caption “ One ugandan shilling ”. The obverse designs of all the coins featured Arnold Machin ‘s portrayal of Elizabeth II, with the caption ELIZABETH II NEW ZEALAND [ date ]. The initial designs for the reverse sides of the coins introduced in 1967 were rejected by the Royal Mint. Several more designs were produced, followed by a vigorous public debate. James Berry ‘s designs were finally accepted for most of the coins, [ 1 ] although he was asked to rework his purpose for the 5c coin and Francis Shurrock ‘s plan for the 10c coin. [ 2 ] In 1986, the portrait of Elizabeth II on New Zealand coins was changed to Raphael Maklouf ‘s new portrait of the Queen .
removal of 1 and 2 penny coins [edit ]
Towards the end of the 1980s, the 1c and 2c were becoming of little value, and it was decided to withdraw these coins from circulation. The death coins of these denominations were minted for circulation in 1987, with collector coins being made for 1988. The coins were lento withdrawn from circulation, before last being demonetised ( nobelium long legal sensitive ) on 1 May 1990. After the withdrawal of these coins, cash transactions were normally rounded to the nearest 5 cents, a process known as swedish round off. Some larger retailers ( notably one supermarket chain ), in the interests of public relations, elected to round the total price down ( so that $ 4.99 became $ 4.95 alternatively of $ 5.00 ). alternatively, many retailers rounded all their prices to the nearest 5 cents to avoid the publish entirely—so a New Zealand shopper often meet products for sale at prices like $ 4.95 .
insertion of 1 and 2 dollar coins [edit ]
On 11 February 1991, $ 1 and $ 2 coins were introduced to replace the $ 1 and $ 2 notes in circulation. These coins were minted in aluminum bronze, and were the first New Zealand coins to be minted to system of measurement specifications. At the same time, because the fresh $ 1 mint depicted a kiwi, the 20c mint revoke design was changed. The fresh 20c coins depicted a Māori carving of Pukaki, a foreman of the Ngati Whakaue iwi. Coins with kiwi invention, however, outnumbered coins with the new purpose until they were replaced with the new 20c coins, all depicting the by and by design, in 2006. In 1999, Ian Rank-Broadley ‘s portrayal of the Queen was introduced and the legend rearranged to read NEW ZEALAND ELIZABETH II [ date ] .
change to smaller coins [edit ]
On 11 November 2004, the Reserve Bank announced that it proposed to take the 5c coin out of circulation, and to make the existing 50, 20 and 10c coins smaller and use plated steel to make them lighter. The reasons given were :
- The 5c coin was worth a third of what a cent was worth back in 1967, when New Zealand decimalised its currency.
- Surveys had found that 50, 20 and 10c coins were too large and could not be easily carried in large quantities. The original 50c coin, with a diameter of 3.2 centimetres, was one of the largest coins in circulation worldwide, and the original 20c coin, New Zealand’s second biggest coin at the time at 2.8 cm, is bigger than any current circulating coin (the biggest coin in circulation is the $2 coin at 2.6 cm).
- The size of the 10c piece was too close to that of the dollar – in fact, it was so close that it was possible to put two 10c pieces in a parking meter together and receive $1 worth of parking time, or jam the meter and make parking free anyway. The advent of pay & display metering in larger cities, whereby one is required to use another meter if the first one is jammed, has largely stopped this practice.
- The prices of copper and nickel used to mint the old coins were high and rising steeply, and the metal content of some coins exceeded their face value.
After a three-month populace submission period that ended on 4 February 2005, the Reserve Bank announced on 31 March it would go ahead with the proposed changes. The conversion menstruation started on 31 July 2006, with the old coins functional up until 31 October 2006. The older 50, 20, 10 and 5c pieces are no long legal tender, but are still able to be handed in at the Reserve Bank in Wellington, either in person or by post, in commute for their font value. [ 3 ] Any old currency surrendered in this means for its face respect must be paid immediately into a bank report. This can be either a New Zealand account in New Zealand Dollars, [ 4 ] or a Foreign bank score in any of the following five currencies : USD, CAD, GBP, AUD, or EUR. [ 5 ] In August 2005, the Royal Canadian Mint, which has minted canadian coins in plat steel in the past, was selected by the Reserve Bank to make the new coins. The new coins have a unique electromagnetic signature which enables modern vending machines to determine coin counterfeiting and extraneous coins [ 1 ], and it was estimated the conversion would remove about $ 5 million of foreign neologism from circulation. The exchange to smaller coins is besides advantageous to Australia, as the outgoing 5, 10, and 20c coins were of the lapp size and weight as australian coins of these denominations, and were easily confused by shopkeepers and retailers, a well as being available in australian vending machines and parking meters .
current neologism [edit ]
The change by reversal design of the stream circulating New Zealand dollar coins. visualize by Reserve Bank of New Zealand. As of 1 April 2018, there are five denominations of coins in even circulation : 10c, 20c, 50c, $ 1, and $ 2. All New Zealand coins are round, and use medallic orientation course. commemorative and collectible coins are available from New Zealand Post as the agent for the Reserve Bank. [ 6 ] There are two commemorative coins presently in circulation as legal tender. The first base one was released on 23 March 2015 and has a monetary value of 50c. It features the standard obverse design but on the reverse it features two soldiers, one New Zealander and one australian surrounded by two ferns and a mangopare ( hammerhead shark ) design ; with the words “ The Spirit of Anzac We Will Remember Them ” and “ 1915-2015 ” in mention to the hundredth anniversary of the Battle of Gallipoli in 1915. It is the first circulating coin to feature color, a blacken backdrop around the soldiers. The coins are limited to 1,000,000 and were minted by canadian Mint. [ 7 ] The moment matchless was released on 1 October 2018 and besides has a monetary value of 50c. It besides features the standard obverse design but on the reverse it features a RSA poppy in the center, surrounded by a loose formed remembrance wreath that has incorporated the silver fern and the koru ; with the words “ Eleventh Hour of the Eleventh Day of the Eleventh Month ”. It was issued to commemorate the hundredth anniversary of Armistice Day. It is the second mobilize coin to feature color. The coins are limited to 2,000,000 and were minted by the canadian Mint. [ 8 ]
past neologism [edit ]
Changes to coinage in 1990 and 2006 has resulted in several demonetize coins. Coins have been demonetised for assorted reasons. This is a tilt of demonetize coins :
| Value | Technical parameters | Description | Date of | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Diameter | Thickness | Mass | Composition | Edge | Obverse | Reverse | Issue | Withdrawal | |
| 1c | 17.53 mm | 1.18 mm | 2.07 g | Bronze | Plain | Queen Elizabeth II | Silver fern | 10 Jul 1967 | 30 Apr 1990 |
| 2c | 21.08 mm | 1.7 mm | 4.14 g | Kowhai flowers | |||||
| 5c | 19.43 mm | 1.24 mm | 2.83 g | Cupronickel | Milled | Queen Elizabeth II | Tuatara | 10 Jul 1967 | 31 Oct 2006 |
| 10c | 23.62 mm | 1.70 mm | 5.66 g | (as today) Legend reads “One Shilling” |
|||||
| (as today) | 1970 | ||||||||
| 20c | 28.58 mm | 2.22 mm | 11.31 g | Kiwi | 10 Jul 1967 | ||||
| (as today) | Dec 1990 | ||||||||
| 50c | 31.75 mm | 2.33 mm | 13.61 g | Intermittently milled | (as today) | 10 Jul 1967 | |||
other coins [edit ]
mule coins [edit ]
numerous mule coins have been by chance minted, at least two of which have ended up in circulation.
Read more: How to Make a Coin Bezel Necklace – Easy!
The first exemplify occurred in 1967, when the two cent mint was by chance minted with the obverse of the Bahamian five penny coin. subsequent examples include a New Zealand 1981 5c obverse muled with a canadian 10c overrule and a 1985 50c obverse muled with a canadian $ 1, both of which are highly rare. Another example occurred in 2000, with ten know instances of the commemorative $ 5 mint found in uncirculated sets. This coin had the pied cormorant on the revoke side, as did the other $ 5 coins of the year, however the obverse was from Solomon Islands. Though not technically a mule, a confusion of a different kind get up in 1975 when some NZ 20c coins were unintentionally struck on crenate blanks intended for the Hong Kong $ 2 coin. The obverse and invert dies are correct for the NZ coins ; only the blank is the incorrect supreme headquarters allied powers europe. An earlier reported exemplify of a mule involving the small-sized 20c coin introduced in 2006 with a canadian 5c most probably relates to reports in the imperativeness of the discovery of canadian 5c coins in mint rolls of NZ 20c coins, chiefly in the Taranaki region ; this was merely a packaging error and no actual muled coins are known .
commemorative coins [edit ]
Limits on coins constituting legal sensitive [edit ]
According to the Reserve Bank Act 1989, there are limits on the measure that constitutes legal attendant : [ 15 ]
- coins of a denomination of
$ 10 or more, there is no limit
- coins of a denomination of
$ 1 or more but less than
$ 10, the limit is
$ 100
- coins of the denomination of 5 cents or more, but less than
$ 1, the limit is
$ 5
Use of other countries ‘ coins [edit ]
due to regional change of location and the fact that many early erstwhile british colonies around the world consumption coinage systems with British-derived origins of sizing and weight, many Fijian, Samoan, Singaporean, South African, and particularly australian coins had been in day by day circulation in New Zealand despite not being official legal tender. It is of note that the United Kingdom itself does not use these sizes of coins any more, and there has been the odd case of foreign coins appearing in a customer ‘s change. The systematically like but not significantly higher respect of the australian currency and the obverse side of australian coins being about the same as New Zealand coins besides did n’t discourage this practice, with millions [ citation needed ] of 5, 10, and 20 cent australian coins having been used in New Zealand in an identical manner to their genuine counterparts. These coins could circulate for farseeing periods without being recognised. The coinage size and substantial conversion ( see section Change to smaller coins above ) of 31 July to 31 October 2006 means these foreign coins can no longer be accepted interchangeably, though the newfangled 10 cent coin powerfully resembles the british one penny mint in size, weight and appearance and the unchanged one dollar coin remains very similar to the fijian counterpart. There is besides casual confusion between the New Zealand one-dollar coin and the australian two dollar coin, and similarly between the New Zealand two dollar coin and australian one dollar mint, on score of the coins ‘ like sizes and weights .
Minting figures [edit ]
| Year | 1c | 2c | 5c | 10c | 20c | 50c | $1 | $2 |
|---|---|---|---|---|---|---|---|---|
| 1967 | 120,000,000 | 75,000,000 | 26,000,000 | 17,000,000 | 13,000,000 | 10,000,000 | ||
| 1968 | ||||||||
| 1969 | 20,510,000 | 10,260,000 | 3,000,000 | 2,500,000 | ||||
| 1970 | 10,060,000 | 11,152,000 | 2,046,000 | |||||
| 1971 | 10,000,000 | 15,050,000 | 11,520,000 | 2,808,000 | 1,600,000 | 1,123,200 | ||
| 1972 | 10,040,000 | 17,510,000 | 20,000,000 | 2,024,000 | 1,516,000 | 1,408,000 | ||
| 1973 | 15,040,000 | 38,550,000 | 4,043,000 | 3,533,000 | 3,051,000 | 2,531,000 | ||
| 1974 | 35,020,000 | 50,000,000 | 18,023,000 | 4,627,000 | 4,535,000 | 1,223,000 | ||
| 1975 | 60,000,000 | 20,000,000 | 32,000,000 | 7,000,000 | 5,000,000 | 3,800,000 | ||
| 1976 | 20,000,000 | 15,000,000 | 5,000,000 | 7,500,000 | 2,000,000 | |||
| 1977 | 20,000,000 | 5,000,000 | 7,500,000 | 2,000,000 | ||||
| 1978 | 15,000,000 | 20,000,000 | 16,000,000 | 2,500,000 | 2,000,000 | |||
| 1979 | 35,000,000 | 6,000,000 | 8,000,000 | 2,400,000 | ||||
| 1980 | 40,000,000 | 10,000,000 | 12,000,000 | 28,000,000 | 9,000,000 | 8,000,000 | ||
| 1981 | 10,000,000 | 25,000,000 | 20,000,000 | 5,000,000 | 7,500,000 | 4,000,000 | ||
| 1982 | 10,000,000 | 50,000,000 | 50,000,000 | 18,000,000 | 17,500,000 | 6,000,000 | ||
| 1983 | 40,000,000 | 15,000,000 | 2,500,000 | |||||
| 1984 | 30,000,000 | 10,000,000 | 1,500,000 | 2,000,000 | ||||
| 1985 | 40,000,000 | 22,500,000 | 14,000,000 | 8,000,000 | 6,000,000 | 2,000,000 | ||
| 1986 | 25,000,000 | 18,000,000 | 12,500,000 | 5,200,000 | ||||
| 1987 | 27,500,000 | 36,250,000 | 40,000,000 | 21,000,000 | 14,000,000 | 3,600,000 | ||
| 1988 | 16,000,000 | 23,712,000 | 12,500,000 | 8,800,000 | ||||
| 1989 | 36,000,000 | 9,000,000 | 5,000,000 | |||||
| 1990 – 1c and 2c withdrawn; $1 and $2 introduced | ||||||||
| 1990 | 5,000,000 | 40,000,000 | 30,000,000 | |||||
| 1991 | 10,000,000 | 10,000,000 | ||||||
| 1992 | ||||||||
| 1993 | ||||||||
| 1994 | 26,720,000 | |||||||
| 1995 | 33,280,000 | |||||||
| 1996 | 19,008,000 | 12,960,000 | ||||||
| 1997 | 14,000,000 | 8,000,000 | 1,000,000 | |||||
| 1998 | 8,000,000 | 6,000,000 | ||||||
| 1999 | 25,040,000 | 5,050,000 | ||||||
| 2000 | 26,000,000 | 11,000,000 | 5,000,000 | |||||
| 2001 | 20,000,000 | 10,000,000 | 5,000,000 | 3,000,000 | ||||
| 2002 | 40,500,000 | 10,000,000 | 7,000,000 | 3,000,000 | 8,000,000 | 6,000,000 | ||
| 2003 | 30,000,000 | 13,000,000 | 2,500,000 | 4,000,000 | 6,000,000 | |||
| 2004 | 15,000,000 | 6,500,000 | 8,500,000 | 2,000,000 | 2,700,000 | |||
| 2005 | 2,000,000 | 4,000,000 | 1,000,000 | 2,000,000 | 5,000,000 | |||
| 2006 – 5c withdrawn; 10c, 20c and 50c downsized | ||||||||
| 2006 | 140,200,000 | 116,600,000 | 70,200,000 | |||||
| 2007 | 15,000,000 | |||||||
| 2008 | 80,000,000 | 11,000,000 | 8,000,000 | |||||
| 2009 | 30,000,000 | 20,000,000 | ||||||
| 2010 | 10,000,000 | |||||||
| 2011 | 20,400,000 | 8,000,000 | ||||||
| 2012 | 20,400,000 | |||||||
| 2013 | 27,000,000 | 10,080,000 | ||||||
| 2014 | 17,000,000 | 23,000,000 | 2,300,000 | 7,000,000 | ||||
| 2015 | 21,600,000 | 18,000,000 | 12,700,000 | 10,000,000 | 3,000,000 | |||
| 2016 | 11,100,000 | 6,000,000 | 3,000,000 | |||||
| 2017 | ||||||||
| 2018 | 6,000,000 | |||||||
| 2019 | 37,800,000 | 40,750,000 | 21,000,000 | 12,960,000 | 12,200,000 | |||
| 2020 | 19,200,000 | 8,000,000 | 8,200,000 | 8,760,000 | 5,900,000 | |||
| 2021 | Statistics not yet released[a] | |||||||
| 2022 | ||||||||
source : [ 16 ]
See besides [edit ]
References [edit ]
- ^ As of 24th May 2022, the latest update published by the Reserve Bank of NZ ( dated 1st March 2022 ) does not include minting figures for 2021 or 2022. The adjacent update is scheduled for passing on 1st September 2022 .
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