World of Coins

Modern coins, pseudo coins and trade tokens of other continents => New Zealand => Topic started by: <k> on October 16, 2017, 11:14:36 PM

Title: The decimal coinage of New Zealand
Post by: <k> on October 16, 2017, 11:14:36 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=22697.0;attach=72578;image)



From Wikipedia:

Prior to the introduction of the New Zealand dollar in 1967, the New Zealand pound was the currency of New Zealand, which had been distinct from the pound sterling since 1933. The pound used the £sd system, in which the pound was divided into 20 shillings and one shilling was divided into 12 pence.

Switching to decimal currency had been proposed in New Zealand since the 1930s, although only in the 1950s did any plans come to fruition. In 1957, a committee was set up by the Government to investigate decimal currency. The idea fell on fertile ground, and in 1963, the Government decided to decimalise New Zealand currency. The Decimal Currency Act was passed in 1964, setting the date of transition to 10 July 1967.

The government decided to call the new currency the New Zealand dollar. It would replace the pound at a rate of two dollars to one pound (one dollar to ten shillings, 10 cents to one shilling,  5⁄6 of a cent to a predecimal penny).



The initial designs for the coins were criticised by the Royal Mint, as were later designs that were leaked to the public in early 1966. The government then published a selection of the designs submitted and asked for public input via voting forms published in newspapers. Designs by New Zealander James Berry (http://www.worldofcoins.eu/forum/index.php/topic,9473) were ultimately chosen for all six coins.



See also:

1] James Berry's 1947 sketches of designs for NZ decimals - 20 years too early! (http://www.worldofcoins.eu/forum/index.php/topic,9029.0.html)

2] James Berry's designs for NZ's first decimals that DIDN'T make it. (http://www.worldofcoins.eu/forum/index.php/topic,9189.0.html)
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 16, 2017, 11:27:20 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=13166.0;attach=76748;image)



The reverse of the 1 cent coin featured a silver fern leaf.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 16, 2017, 11:28:05 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=13166.0;attach=76749;image)

Leaves of the silver fern.



Cyathea dealbata, also known as the silver fern, or ponga (from Māori kaponga or ponga), is a species of medium-sized tree fern, endemic to New Zealand. It is a symbol commonly associated with the country both overseas and by New Zealanders themselves.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 16, 2017, 11:34:24 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=13166.0;attach=76747;image)



Kowhai flowers were featured on the 2 cents coin.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 16, 2017, 11:37:01 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=13166.0;attach=76750;image)

Kowhai flowers.



From Wikipedia:

Kōwhai are small woody legume trees within the genus Sophora that are native to New Zealand. Their natural habitat is beside streams and on the edges of forest, in lowland or mountain open areas. Kōwhai trees are a common feature in New Zealand gardens. Outside of New Zealand, kōwhai tend to be restricted to mild temperate maritime climates.

The blooms of the kōwhai are widely regarded as being New Zealand's national flower, although they have no official status as such. The word kōwhai is also used in the Māori language for the colour yellow, because of the colour of the flowers.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 16, 2017, 11:47:06 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=17837.0;attach=76751;image)



A tuatara appeared on the 5 cents coin.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 16, 2017, 11:50:50 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=17837.0;attach=76755;image)

The tuatara.



Tuatara are reptiles endemic to New Zealand. Although resembling lizards, they are part of a distinct lineage, the order Rhynchocephalia. Their name derives from the Māori language, and means "peaks on the back". The single species of tuatara is the only surviving member of its order, which flourished around 200 million years ago.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 17, 2017, 12:04:54 AM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=4018.0;attach=76757;image)



The 10 cents coin featured a Maori mask.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 17, 2017, 12:06:12 AM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=4018.0;attach=76756;image)



The word "SHILLING" was removed from the coin from 1970 onwards.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 17, 2017, 12:08:37 AM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=23794.0;attach=106591;image)

The 20 cents featured a kiwi.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 17, 2017, 12:21:18 AM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=29302.0;attach=76758;image)



The 50 cents depicted the HMS Endeavour, commanded by James Cook for his first exploration of the Pacific in 1769-1771.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 17, 2017, 12:40:41 AM
In 1985 the UK adopted a new portrait of the Queen, by Raphael Maklouf, and New Zealand did likewise in 1986.

Below you see the portrait as it appeared on the obverse of a New Zealand coin dated 1990.



See also: Raphael Maklouf did not design the third portrait of Queen Elizabeth II (http://www.worldofcoins.eu/forum/index.php/topic,39375.0.html).
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 17, 2017, 12:41:47 AM
From Wikipedia:

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 last coins of these denominations were minted for circulation in 1987, with collector coins being made for 1988. The coins were slowly withdrawn from circulation, before finally being demonetised (no longer legal tender) 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 rounding. 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 instead of $5.00). Alternatively, many retailers rounded all their prices to the nearest 5 cents to avoid the issue entirely—so a New Zealand shopper often encountered products for sale at prices like $4.95.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 17, 2017, 10:53:37 AM
In 1990 new $1 and $2 coins were released to replace the $1 and $2 notes. Both were made of aluminium bronze.

The 1 dollar coin was 23 mm in diameter and weighed 8 grams.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 17, 2017, 10:55:28 AM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=39617.0;attach=97292;image)



The reverse of the dollar featured a kiwi amid silver fern leaves.

It was designed by Robert Maurice Conly.

The dollar became colloquially known as a "kiwi dollar".

 
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 17, 2017, 11:02:02 AM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=23763.0;attach=76761;image)



The 2 dollar coin was 26.5 mm in diameter and weighed 10 grams. The reverse featured a kotuku, also known as a white heron and a great egret. The design was once more the work of Maurice Conly.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 17, 2017, 11:07:44 AM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=4018.0;attach=76762;image)



The reverse of the 20 cent coin was redesigned to removed the kiwi, since the "kiwi dollar" now portrayed that bird. The new reverse design, by Robert Maurice Conly, featured the well-known Māori carving depicting Pukaki, a chief of the Ngāti Whakaue iwi (tribe) of Te Arawa.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 17, 2017, 11:35:44 AM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=27107.0;attach=44785;image)



(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=27107.0;attach=44786;image)

New Zealand, 50 cents, 1994.  HMS Endeavour.

This bimetallic version of the coin was included in mint sets in 1994 only.



New Zealand briefly considered making the 50 cents a bimetallic coin. However, it was decided that the low face value of the coin meant that it would not be worthwhile. However, they did include a version of the coin in sets only, in 1994, and it is a beautiful coin indeed.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 17, 2017, 11:36:16 AM
In 1998 the UK adopted a new effigy of the Queen, created by Ian Rank-Broadley (http://www.worldofcoins.eu/forum/index.php/topic,15609.0.html). New Zealand did likewise in 1999.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 17, 2017, 11:46:23 AM
When New Zealand went decimal, the 5 cents, 10 cents and 20 cents coins had retained the size and weight of their predecimal counterparts, the sixpence, shilling and florin respectively. As time passed, they came to seem too large and heavy for their worth, as did the 50 cents coin also. New Zealand therefore decided to demonetise the 5 cents coins and reduce the size of the other three coins.

From Wikipedia:

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 now 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 and 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 public submission period that ended on 4 February 2005, the Reserve Bank announced on 31 March it would go ahead with the proposed changes. The changeover period started on 31 July 2006, with the old coins usable up until 31 October 2006. The older 50, 20, 10 and 5c pieces are no longer legal tender, but are still redeemable at the Reserve Bank.

In August 2005, the Royal Canadian Mint, which has minted Canadian coins in plated 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 foreign coins, and it was estimated the changeover would remove nearly $5 million of foreign coinage from circulation.

The change to smaller coins is also advantageous to Australia, as the outgoing 5, 10, and 20c coins were of the same size and weight as Australian coins of these denominations, and were easily confused by shopkeepers and retailers, as well as being usable in Australian vending machines and parking meters.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 17, 2017, 11:55:20 AM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=4018.0;attach=76765;image)

The smaller 10 cents coin.



On 31 July 2006 the new coins were released. The 10 cents coin retained the same reverse design, but it was now made of copper-plated steel. It was smaller and lighter, being 20.5 mm in diameter and weighing 3.3 grams.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 17, 2017, 11:59:33 AM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=4018.0;attach=76766;image)

The obverse of the 2006 20 cents coin.



From Wikipedia:

On 31 July 2006, the new 20 cent coin was released alongside the new 10 cent and 50 cent coins as part of the Reserve Bank's "Change for the better" silver coin replacement. The new 20 cent coin had the same reverse as the 1990 to 2006 minted coins and the same obverse as the 1999-onward coins, but the coins were reduced in size. The new 20 cent coins are made of steel, covered in a layer of nickel, copper, then nickel again. The new coins are 21.75 mm in diameter and 4 grams in weight. They have Spanish flower milling around the edge, splitting it into seven sections. For their introduction in 2006, 116 million were minted, with a total value of NZ$23.2 million.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 17, 2017, 12:00:22 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=4018.0;attach=29650;image)

The reverse of the 20 cents coin, 2006.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 17, 2017, 12:06:56 PM
The 50 cents coin retained the same reverse design of HMS Endeavour. The coin was now made of nickel-plated steel. It weighed 5 grams and had a diameter of 24.75 mm.

The old coins were legal tender up until 31 October 2006. The older 50, 20, 10 and 5c pieces are no longer legal tender, but are still redeemable at the Reserve Bank. The old sixpence, shilling and florin coins that had remained in circulation was also demonetised as of 1 November 2006.

It was a very bold move of New Zealand to replace three coins at once, but it worked successfully.

That completes my survey of New Zealand's coinage. Any comments, corrections or additions are welcome.
Title: Re: The decimal coinage of New Zealand
Post by: Alan71 on October 29, 2017, 10:44:24 PM
Yes, I agree, the bi-metal 50c is a very nice coin.  I got the 1994 set a long time ago to get this coin.  Not sure why they were thinking of introducing it though.

My New Zealand trip in March really got me into New Zealand coins.  Whilst I was there I got the following:

1988 set (as it was the last to include 1c and 2c coins)
1989 set (the last to include the Kiwi 20c)
2006 set (the last to contain the 5c and large size 10c, 20c and 50c)

I already had the 1994 and 1990 sets, the latter including the first $1 and $2 coins and new-design 20c.

A consequence of the re-sizing is that Australian coins can no longer find their way into New Zealand circulation.  Old New Zealand coins (5c, 10c and 20c) can and do still circulate in Australia.

Although the kiwi 20c design was replaced in 1990, it was apparently still more common than the newer design when the coins were withdrawn in 2006.  The re-issue meant that all 20c coins carried the same design for the first time since 1990.

I still don’t like the new 10c.  The others are fine but I just don’t like coins changing to a copper-colour, particularly when the coins are just plated.  I know it’s good practice to have coins in different colours, but to me it just makes them seem more worthless than “silvers”.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on October 29, 2017, 10:52:07 PM
They are nice coins to collect. I'm not keen on the kotuku as a design, though - it leaves too much space towards the bottom of the coin.

The 10 cents changing to "red" - well, it's an acknowledgement of its lower spending power. Traditionally the lowest denominations in NZ were red. Also, the more differences between coins (colour being one of them), the easier it is to differentiate between them.
Title: Re: The decimal coinage of New Zealand
Post by: redlock on October 30, 2017, 08:52:35 AM

My New Zealand trip in March really got me into New Zealand coins. 

How is the use of cash in New Zealand these days?
Rarely (like in Sweden), occasionally, frequently?
Title: Re: The decimal coinage of New Zealand
Post by: Alan71 on October 30, 2017, 01:29:11 PM
How is the use of cash in New Zealand these days?
Rarely (like in Sweden), occasionally, frequently?
Frequently, I’d say.  Similar to the UK anyway.
Title: Re: The decimal coinage of New Zealand
Post by: redlock on October 30, 2017, 07:57:16 PM
Frequently, I’d say.  Similar to the UK anyway.

Thanks for the information  :)
Title: Re: The decimal coinage of New Zealand
Post by: <k> on May 09, 2020, 12:12:29 PM
See also:

1] James Berry's 1947 NZ decimal sketches - 20 years too early! (http://www.worldofcoins.eu/forum/index.php/topic,9029.0.html)

2] James Berry's designs for NZ's first decimals that DIDN'T make it (http://www.worldofcoins.eu/forum/index.php/topic,9189.0.html)

3] The Waitangi crown: an alternative sketch from James Berry's papers (http://www.worldofcoins.eu/forum/index.php/topic,9472.0.html)

4] New Zealand: birds of 1984 and 1985 (http://www.worldofcoins.eu/forum/index.php/topic,37620.0.html)

5] New Zealand: Coinage Anniversaries (http://www.worldofcoins.eu/forum/index.php/topic,37642.0.html)

6] New Zealand: Rugby world cup, 1991 (http://www.worldofcoins.eu/forum/index.php/topic,37618.0.html)

7] New Zealand trials of the 1980s (http://www.worldofcoins.eu/forum/index.php/topic,33021.0.html)

8] The predecimal coinage of New Zealand (http://www.worldofcoins.eu/forum/index.php/topic,40498.0.html).
Title: Re: The decimal coinage of New Zealand
Post by: <k> on August 10, 2020, 09:08:19 PM
My thanks to Paul Bicknell of The Royal Numismatic Society of New Zealand for providing me with this scan of a report by the New Zealand Treasury. It was published some time before the decimalisation of the New Zealand coinage and currency.

Most interesting for me are the following points:

d) The set of seven coins includes the fern in its three forms, the 1c fern leaf, the 20c fern bush and the $1 fern fronds.

My note: the dollar coin was a collector coin and not a circulation coin.

e) The 2c kowhai bears 2 kowhai flowers to emphasise its value. 1c and 5c designs, featuring one and five kowhai flowers respectively, were prepared but not used.

f) The 5c tuatara design was initially planned as the 10c coin. However, it was decided to preserve a Maori motif on the 10 cents coin, since its predecimal counterpart, the shilling, featured a Maori warrior.



NOTE: Part g) refers to '10/-'. This means 10 shillings. For instance, 10/6 meant 10 shillings and sixpence, but 10/- meant 10 shillings and no pence. Similarly, '7/-' means 7 shillings, and so on.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on August 10, 2020, 09:10:43 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=22697.0;attach=37004;image)

With reference to the previous post, the image above features the design on the reverse of the New Zealand $1.

The design was by William Gardner. The coin was a collector coin only.
Title: Re: The decimal coinage of New Zealand
Post by: <k> on August 10, 2020, 09:24:19 PM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=4018.0;attach=76757;image)



From 1967 to 1969, the New Zealand 10 cents coin also carried the words 'ONE SHILLING' in addition to the numerals '10' (for 10 cents).

This was meant to provide an anchor for the public, as a way into understanding the new system. The term 'ONE SHILLING' was removed after 1969.



(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=4018.0;attach=76756;image)



My thanks to Paul Bicknell of The Royal Numismatic Society of New Zealand for providing me with this scan of a report by the New Zealand Treasury. It was published in May 1964.
Title: Re: The decimal coinage of New Zealand
Post by: Mister T on April 17, 2021, 09:46:56 AM
(http://www.worldofcoins.eu/forum/index.php?action=dlattach;topic=4018.0;attach=76757;image)
My thanks to Paul Bicknell of The Royal Numismatic Society of New Zealand for providing me with this scan of a report by the New Zealand Treasury. It was published in May 1964.

Is this from the same report at the top of the page?
Title: Re: The decimal coinage of New Zealand
Post by: <k> on April 17, 2021, 10:08:47 AM
No, that report does not include any images.
Title: Re: The decimal coinage of New Zealand
Post by: Mister T on April 17, 2021, 12:58:07 PM
No, that report does not include any images.

Gah I quoted the wrong image - are the pages of text both from the May 1964 report?
Title: Re: The decimal coinage of New Zealand
Post by: <k> on April 17, 2021, 01:03:45 PM
Yes, if I remember correctly, but I didn't keep the scans.