Author Topic: Coinage of the Cook Islands  (Read 526 times)

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Offline <k>

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Re: Coinage of the Cook Islands
« Reply #15 on: November 12, 2018, 10:16:24 PM »
The Cook Islands adopted Raphael Maklouf's portrait of the Queen in 1987.

Offline <k>

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Re: Coinage of the Cook Islands
« Reply #16 on: November 12, 2018, 10:37:18 PM »

A scalloped $1 coin of 1987, featuring the god Tangaroa.



From Wikipedia:

In 1983 production of the 1 and 2-cents coins was ceased, and the two coins were later demonetized.

In 1987 a smaller, lighter scallop-edged $1 coin with a similar size and shape to the Hong Kong $2 piece. This coin was issued to replace its bulky predecessor. Along with the new dollar, a triangular $2 coin and a dodecagonal (twelve-sided) $5 piece in equal size and shape to the Australian 50-cents coin were introduced, with the new $1 and $2 composed of cupro-nickel and the $5 coin in aluminium bronze.

Offline <k>

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Re: Coinage of the Cook Islands
« Reply #17 on: November 12, 2018, 10:38:40 PM »
The reverse design of the $2 coin featured "Kumete", traditionally used to pound root foods, such as arrowroot from the islands of Atiu.

The reverse designs of the circulation $2 and $5 coins were the work of Horst Hahne of the Royal Australian Mint. His initials were included on the designs.
« Last Edit: November 12, 2018, 10:48:42 PM by <k> »

Offline <k>

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Re: Coinage of the Cook Islands
« Reply #18 on: November 12, 2018, 10:39:45 PM »
The reverse design of the $5 coin featured a Pacific triton seashell.

Offline <k>

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Re: Coinage of the Cook Islands
« Reply #19 on: November 12, 2018, 10:52:55 PM »

50 tene, 1988.  Turtle.
.



In 1988 a new design was introduced for the 50 cents coin, whose denomination was now shown in the local language as "50 TENE".

This design was also by Horst Hahne, and it continued to co-circulate with the previous design, which in fact continued to be minted until 1992.

Offline <k>

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Re: Coinage of the Cook Islands
« Reply #20 on: November 12, 2018, 11:03:14 PM »
Until 1995 the Cook Islands ran a currency board, with the New Zealand dollar as the anchor currency. This means that the Cook Islands currency was not fully independent, being backed by the New Zealand dollar. It produced its own coins and banknotes, but in 1994 the New Zealand banks refused to accept Cook Islands notes, as they were no longer fully backed 100% by New Zealand currency. The Cook Islands dollar was worth only around 95 New Zealand cents by 1995.

The Cook Islands continued to use New Zealand currency, however, but after 1994 it stopped issuing its own coins and notes for many years. The Cook Islands $5 coin continued to circulate, since it was not matched by any New Zealand  coin denomination, NZ$5 notes also co-circulated. With the reduction in size of New Zealand's 10, 20 and 50-cents coins in 2006, older cent coins began to be phased out in both countries.


Offline <k>

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Re: Coinage of the Cook Islands
« Reply #21 on: November 12, 2018, 11:10:04 PM »
In 2010 the Cook Islands issued a collector set of coins that looked like a circulation set. In fact, they never circulated and were never intended to do so. They were sold simply in order to earn money from collectors. Their designs looked typical of fantasy pieces, and this led some people to suspect that they were indeed unofficial issues.

Eventually our forum member eurocoin contacted the Cook Islands authorities, who confirmed that they were an official issue but did not circulate. See: Cook Islands: Series of coins 2010.
« Last Edit: November 13, 2018, 04:37:45 PM by <k> »

Offline <k>

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Re: Coinage of the Cook Islands
« Reply #22 on: November 12, 2018, 11:14:15 PM »
In March 2015, Radio New Zealand reported the following news:

The minting of new Cook Islands coins will begin this week in commemoration of 50 years of independence for the country.

The Finance Minister Mark Brown will visit the Royal Australian Mint in Canberra to see the first coin go into production, ready for circulation in August. He says the New Zealand coins currently being used in the Cook Islands will be phased out.

Mr Brown says the new coins will be the same sizes as the New Zealand 10 cent, 20 cent and 50 cent coins, the one and two dollar coins will be changed, while a five dollar coin will be launched. He says the new coins will save the government money.

"In the first year we will make over a million dollars in additional revenue from the coins. Because currently we are buying the New Zealand coins at face value, and then on top of that, paying the cost of freighting them here. But by using our own coins we are only paying for the cost price of our coins which are a faction of the face value. So automatically we are ahead there."

Offline <k>

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Re: Coinage of the Cook Islands
« Reply #23 on: November 12, 2018, 11:15:32 PM »

Cook Island coins of 2015.



In August 2015 the Cook Islands issued its own coinage once more, after a gap of many years. Like the modern New Zealand set, the series was smaller and lighter than before, and the 10 cents coin was its lowest denomination. Designs from the previous series were used, including the hermaphroditic god of creation Tangaroa, who clutches a pregnant belly. However, a superb new design for the new 5 dollar coin featured a vaka or catamaran, while the Southern Cross constellation dominates the night sky. The design was created by Aaron Baggio of the Royal Australian Mint.

Offline <k>

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Re: Coinage of the Cook Islands
« Reply #24 on: November 12, 2018, 11:17:06 PM »




A closer look at the $5 coin.

Offline <k>

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Re: Coinage of the Cook Islands
« Reply #25 on: November 12, 2018, 11:19:11 PM »
That is the story so far.