Author Topic: New circulation coins for Pacific nations (2015)  (Read 5451 times)

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Offline Pabitra

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New circulation coins for Pacific nations (2015)
« on: March 05, 2015, 06:51:08 AM »
March 4, 2015

History was made today with three Pacific Island nations marking the introduction of their own brand new circulating coins at the official coin striking ceremony at the Royal Australian Mint (the Mint).

With the Mint’s assistance and expertise, Cook Islands, Tonga and Vanuatu have embarked on the important journey of coin reform, bringing each country’s coinage system in line with world best practice.

The Parliamentary Secretary to the Treasurer, the Hon Kelly O’Dwyer MP, said this was a significant time for the Royal Australian Mint and the three nations.

“These partnerships are an example of how the Australian Government is committed to further strengthening relationships with our Pacific neighbours,” Ms O’Dwyer said.

“The Royal Australian Mint has demonstrated how valuable knowledge, technology and production facilities may be shared across borders and they are to be commended for that.”

International dignitaries and diplomatic representatives from Cook Islands, Tonga and Vanuatu gathered for the exclusive ceremonial coin striking which saw all 16 coins being struck during the proceedings.

Mint CEO Mr Ross MacDiarmid said with today’s coining ceremony, the Mint has a proud record of assisting five countries with coinage reforms in just over three years.

“We have been able to assist our neighbours in producing smaller, lighter coins with designs of cultural significance to the people,” said Mr MacDiarmid.

“Their new coins are now in line with international trends resulting in lower production costs which translate into savings for the countries.”

The High Commissioner of Tonga, HRH Princess Angelika Tuku’aho, the Cook Islands Minister for Finance Mr Mark Brown and the Deputy Governor of the Reserve Bank of Vanuatu Mr Peter Tari will strike their own country’s new coins.

The new coins will be launched in each country over the coming months. The three coinage reforms are timed to recognise significant national milestones, namely 50 years of self-government for the Cook Islands, the Coronation of King Tupou VI of the Kingdom of Tonga and the 35th Anniversary of Independence for the Republic of Vanuatu.

HRH Princess Angelika Tuku’aho, had the extremely rare honour of being able to strike a coin which features an effigy of her father, King Tupou VI.

Offline Pabitra

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Re: New circulation coins for Pacific nations (2015)
« Reply #1 on: March 05, 2015, 11:28:40 AM »
Images

Offline <k>

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Re: New circulation coins for Pacific nations (2015)
« Reply #2 on: March 05, 2015, 01:09:41 PM »
Excellent news. Tonga said a couple of years ago that it wanted to update its designs, which look rather old-fashioned now. Will Vanuatu retain the same designs? Time will tell. The Cook Islands 2 dollar design is the same as the old one, however. We must wait until we see the other denominations.

Offline Pabitra

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Re: New circulation coins for Pacific nations (2015)
« Reply #3 on: March 07, 2015, 06:11:46 AM »
Here are all the guests with their coins

Offline Pabitra

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Re: New circulation coins for Pacific nations (2015)
« Reply #4 on: March 07, 2015, 07:56:27 AM »
Tonga said a couple of years ago that it wanted to update its designs.

The Cook Islands 2 dollar design is the same as the old one, however. We must wait until we see the other denominations.
Tonga will get new assigned numbers since the King has changed.

For Cook Islands 2 Dollars, I have my doubt if the entire design is retained. Perhaps shape, obverse and reverse are retained but earlier it was Copper Nickel and now it is Aluminium Bronze. I would be surprised if it is of weight anywhere near 7.69 grams as that of earlier one.

Overall, for all three nations, the new series will be most interesting.

Offline Jostein

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Re: New circulation coins for Pacific nations (2015)
« Reply #5 on: March 07, 2015, 01:32:37 PM »
It's hard, but we don't expect any bimetallic coin, true?  ::)
"Change is the law of life. And those who look only to the past or present are certain to miss the future" - John F. Kennedy

http://www.bimetallic-coins.com

Offline Pabitra

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Re: New circulation coins for Pacific nations (2015)
« Reply #6 on: March 07, 2015, 02:44:01 PM »
If you are in to Bimetallics then keep your fingers crossed and hope that RAM obliges you.

Offline <k>

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Re: New circulation coins for Pacific nations (2015)
« Reply #7 on: March 10, 2015, 04:53:41 PM »
So let's have a review. Which of the Commonwealth-oriented Pacific island states have issued new design series?

1] Samoa, in 2011.

2] The Solomon Islands, in 2012.  The old designs were kept, though two were moved to different denominations.

3] Fiji, in 2013.  The coins were dated 2012, however. QEII's effigy was removed from the obverse, and there was no longer a common obverse but a different animal design on each reverse. The old reverses were kept but in slightly amended forms.

4] Cook Islands, 2015.

5] Tonga, 2015.

6] Vanuatu, 2015.

Who does that leave? Kiribati and Tuvalu have stopped issuing their own circulation coins, but they are still legal tender and still circulate in small numbers. Kiribati and Tuvalu have never issued their own banknotes. Will they issue coins again soon? Who knows. They currently use the Australian dollar.

Pitcairn (a British territory) and Tokelau (a New Zealand territory) have issued official collector sets in recent years, which have different denominations and look like circulation sets, but they are NOT. Both territories use the New Zealand dollar.

Papua New Guinea still uses its original design series from 1975. So far as I know, they do not wish to update it.

Offline Pabitra

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Re: New circulation coins for Pacific nations (2015)
« Reply #8 on: March 10, 2015, 07:01:37 PM »
Fiji got a 2 dollar coin redesigned after public protest on new series.

Papua New Guinea has an order pending for new coins ( three )but they will retain the specifications.
In addition, a circulating commem is due on the Pacific games later this year and will be, for all practical purposes, a definitive coin.

Offline Pabitra

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Re: New circulation coins for Pacific nations (2015)
« Reply #9 on: March 11, 2015, 01:22:12 AM »

Papua New Guinea still uses its original design series from 1975. So far as I know, they do not wish to update it.

The design may be of 1975 vintage but there are changes.
Lowest two denominations, which were of Bronze, were last minted in 2004. In other words, de facto, no more in use.

Other denominations were replaced by plated steel coins over 2002 to 2005.
« Last Edit: March 11, 2015, 06:46:34 AM by Pabitra »

Offline <k>

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Re: New circulation coins for Pacific nations (2015)
« Reply #10 on: March 11, 2015, 01:27:23 AM »
Thanks for the updates.

Fiji got a 2 dollar coin redesigned after public protest on new series.

A larger size of the same basic coin was issued, I gather.

Offline Pabitra

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Re: New circulation coins for Pacific nations (2015)
« Reply #11 on: March 11, 2015, 01:28:23 AM »
So let's have a review. Which of the Commonwealth-oriented Pacific island states have issued new design series?

4] Cook Islands, 2015.

5] Tonga, 2015.

6] Vanuatu, 2015.


From what it appears, the year on some of the coins may be 2014.

Offline Pabitra

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Re: New circulation coins for Pacific nations (2015)
« Reply #12 on: March 11, 2015, 01:29:04 AM »
Thanks for the updates.

A larger size of the same basic coin was issued, I gather.

There was a conspicuous edge change too.

See

http://www.fijitimes.com/story.aspx?id=297754
« Last Edit: March 11, 2015, 05:24:05 AM by Pabitra »

Offline Bimat

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Re: New circulation coins for Pacific nations (2015)
« Reply #13 on: March 11, 2015, 06:18:50 AM »
New coins for Pacific countries

Tonga, the Cook Islands and Vanuatu are looking forward to the delivery of their brand new coins this year.

The coins, which feature unique fauna, flora and national designs, will cost less to produce.


The new coins are being struck at the Royal Australian Mint and the three countries follow in the footsteps of Samoa and Solomon Islands which have already minted their new coins. The Mint's Chief Executive, Ross McDiarmid, says the push to make new coins began four years ago when some Pacific Island countries were told some of their coins were in negative seigniorage.

ROSS MCDIARMID: Which means that the purchasing price of the coin may actually be greater than its face value which put them into a negative return on that particular coin. So we have looked at refining the materials, looked at the sizes of the coins and come up with a solution. That overall for a particular country will ensure that those coinse are in positive seigniorage.

Tonga will be first to receive its new coins in June to coincide with the coronation of King Tupou the VI whose image will be on one side of the new coins. It will be followed by Vanuatu and Cook Islands which will this year be marking a special anniversary as the Cook Islands Finance Minister, Mark Brown, explains.

MARK BROWN: We have just been to Canberra for the inaugral striking of the new coins that the Cook Islands are putting out and we will be putting those into circulation on the fourth of August to commemorate the 50th anniversary of self governance for the Cook Islands. But these new coins are part of the coin reforms we have undertaken in basically changing the size of the coins especially the lower denominations the 10, 20 and 50 cents. But also changing the colour of our one dollar and two dollar coins to gold. And the introduction of a new five dollar coin which features the traditional voyaging vaka of the Polynesians.

The Cook Islands is known for its monetary oddities. It is one of only few countries that has a widely circulated five dollar coin and it is one of only two in the world that has a triangular two dollar coin. The other is Bermuda's Triangle coin. The Mint's Chief Executive Ross McDiarmid says the new Pacific coins are a smart alternative to traditional coinage and he hopes to be able to help other Pacific countries review their coins.

ROSS MCDIARMID: We are extraordinarily proud and privileged to do the work on behalf of these Pacific Island nations and we look forward to working with others who may wish to follow the same path as the five countries we are now producing coins for. We can provide a much more comprehensive review of those coins rather than simply just producing them, so if countries wish to talk with us we would be delighted to talk to them.

Mr McDiarmid says all the new coins for Tonga, Cook Islands and Vanuatu will have unique fauna, flora and national designs. Apart from indicating that the Tongan coins will have the new King Tupou VI on one side all other designs will be revealed by the respective countries at their discretion.

Source: Radio NZ
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline <k>

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Re: New circulation coins for Pacific nations (2015)
« Reply #14 on: March 11, 2015, 01:25:13 PM »
So, the new Tonga set will be released in June.

The new Cook Islands set will be released in August. The vaka on the $5 is new. The triangular 2 dollar coin has the same design. Will the rest of the series have the same designs as in the late 1980s? (That is, a turtle on the 50 tene, etc.).

Vanuatu - no release date yet.