Author Topic: NZ NCLT restrikes  (Read 2395 times)

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translateltd

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NZ NCLT restrikes
« on: September 21, 2009, 11:56:10 AM »
"Blank cheque" is an overstatement.  For those not familiar with the saga here in NZ, this is a brief outline:

NZ Post has the franchise for issuing our NCLT material.  They have an "authorised maximum" mintage for each issue.  Sometimes the mintage stops short of that maximum, and that figure is then communicated to collectors, dealers and catalogue publishers.  What has happened, however, is that on a few occasions where certain items have had a low "final mintage", NZP has then gone back and had more struck, but never beyond the initial "authorised maximum".  So by the letter of the law, they are acting within the framework that they initially announced.  It has created some bad blood among collectors and dealers alike, however, who feel they have been misled.

I have a problem with the notion of restricting strikes to the year shown on the coin, however, as virtually nobody does that.  Coins are struck before, during and after the year shown as a matter of course worldwide - we have listed many examples here and at NZCCA so I don't need to repeat myself and others on that score. 

Where I would draw the line depends on continuity: if an issue is still "current" and there is still demand (and the authorised mintage hasn't been reached *and* there has been no suggestion that minting may have stopped), then there shouldn't be a problem with striking in later years.  However, when there is an obvious *discontinuity* (e.g. a long hiatus between striking, or new issues in the same series struck in between), then I would say no, the initial issue has stopped and any new strikes must be considered restrikes, or not produced at all.

Examples of the latter are the silver "kiwi" dollar coins dated 2004-2007, which were all restruck by the original mints (different years were struck at different mints) in 2008 to make up special sets of five coins, after the 2008 issue had been produced; in the case of at least the 2007 proof coin, for which mintage appeared to have stopped at 1301 (which pushed the catalogue price up to NZ$225), not only were the additional 500 made for the collector sets, but a further 1199 have also been struck to make up the full 3000 that had initially been authorised.

I have not seen originals and "restrikes" side-by-side to be able to compare the detail, and don't know of anyone who has, but it would be interesting to find out if there are discrepancies, particularly with the older issues that were redone (e.g. the 2004 coin).  Research in the 1990s revealed ways that the two mint runs of the 1935 Waitangi Crown (first in 1935 and a second in 1936) could be distinguished, so there's more room for study of these new issues now!

I'll move this to a new thread in a moment, I know ...

>Quote by BC Numismatics:

>Alasdair,
  >I've never bought anything from either New Zealand Post or the Reserve Bank of New Zealand,as their medal-coin issues don't interest me.

>Be careful,as New Zealand Post have now effectively been given a blank cheque,as it were,to do restriking,especially for extremely high priced limited editions,such as the silver Kiwi $1 medal-coins.

>There's been an outcry over here regarding the abominable practice of restriking.Apparently,the Royal Numismatic Society of New Zealand is going to lobby for restriking to be banned.

>I believe that the only restriking should be done during the year that is indicated on the dies.

>Aidan.


BC Numismatics

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NZ NCLT restrikes.
« Reply #1 on: September 21, 2009, 12:04:37 PM »
Restriking = An abomination!

Aidan.

translateltd

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Re: NZ NCLT restrikes.
« Reply #2 on: September 21, 2009, 12:18:39 PM »
Restriking = An abomination!

Aidan.

Unfortunately, in NZP's view (as I understand it), they do not believe they are restriking at all but simply completing an authorised run as originally allowed for.  And it is in this gulf between differing interpretations that the source of the current strife lies.


Offline chrisild

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Re: NZ NCLT restrikes.
« Reply #3 on: September 21, 2009, 02:14:37 PM »
Unfortunately, in NZP's view (as I understand it), they do not believe they are restriking at all but simply completing an authorised run as originally allowed for.

Sounds somewhat familiar. http://www.worldofcoins.eu/forum/index.php/topic,1971.0.html And no, I don't like this either.

Christian

BC Numismatics

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New Zealand medal-coin restrikes.
« Reply #4 on: October 08, 2009, 05:13:09 AM »
Unfortunately, in NZP's view (as I understand it), they do not believe they are restriking at all but simply completing an authorised run as originally allowed for.  And it is in this gulf between differing interpretations that the source of the current strife lies.



Martin,
  I think that New Zealand Post need to be sent the message that what they are doing is totally unethical.

The Reserve Bank of New Zealand should be informed about this abominable practice,& they need to put some pressure on New Zealand Post regarding this.

Aidan.

translateltd

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Re: New Zealand medal-coin restrikes.
« Reply #5 on: October 08, 2009, 07:07:23 AM »
Martin,
  I think that New Zealand Post need to be sent the message that what they are doing is totally unethical.

The Reserve Bank of New Zealand should be informed about this abominable practice,& they need to put some pressure on New Zealand Post regarding this.

Aidan.

Give it time ... there are some meetings in the pipeline.