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jokinen
Joined: 10-Feb-2013
Posts: 1677
New Zealand is a country in the south west Pacific with a population of 4.5 million. Because of its remoteness, it was the last major land mass (outside of Antarctica) to be settled by humans. Only in the 13th century AD Polynesian tribes arrived and developed a separate Maori culture.

The first Europeans to sight New Zealand were Dutch explorer Abel Tasman and his crew in 1642. They named it 'Staten Eiland' but Dutch cartographers started using New Zealand after the Dutch province of Zeeland.

It would take another 130 years for Europeans to visit the place. James Cook claimed New Zealand for Britain and in 1840 the Waitangi Treaty was signed between the British authorities and Maori tribes establishing British sovereignity. The Maori felt betrayed by the controversial land purchases and a guerilla against the Europeans was waged for decades to follow.

In 1907 New Zealand became a Dominion within the British Empire. Self-rule and therefore factual independence was established with the Westminster Act in 1947. The head of state of New Zealand is Queen Elizabeth II.

New Zealand is a developed economy but enjoys less prosperity than neighbouring Australia. Food products form the majority of New Zealand's export value.

Currency
New Zealand used British and Australian Pounds until the New Zealand Pound was introduced in 1933 that was worth 20% less (16 UK Shillings) than the British Pound in order to keep its exports competitive during the Great Depression.

After WW2 the UK devalued and the New Zealand Pound was reset at par with the British Pound, making it worth 1.25 Australian Pounds. The currency was decimalised in 1967, a year after Australia. The New Zealand Dollar replaced the Pound at a rate of 10 Shillings or 1£=2$. That same year the UK and New Zealand devalued their currencies, and the NZ$ dropped from $1.40 to $1.20 in USD.

The following decades the Kiwi (as the NZD is nicknamed) dropped to below the Australian Dollar's value reflecting the weaker economy. It is now worth around 68 US cents.

The New Zealand Dollar is also the official currency of the Cook Islands (alongside the Cook Islands Dollar which mainly functions as souvenir but is legal tender), Niue, Tokelau and the Pitcairn Islands.

Coins
New Zealand's first coins were bank tokens used to supplement the shortage in small change. Official currency issuance started in 1933, with silver coins of 50% fineness in denominations of 3d, 6d, 1s, 2s and a Half Crown (two and a half Shilling). Bronze half and one Penny were added in 1937. Silver was replaced by cupro-nickel in 1947, similar to the UK. Australia on the other hand, despite the 20% lower value of its Pound, continued to use silver in its coins until 1966.

The first issues of the decimalised 10 Cents coin also had the value '1 Shilling' on it, to ease the transition to the new currency. The sizes of the 5c, 10c and 20c coins were equal to its predecessors the sixpence, shilling and florin.

In 1990 a new design of the 20 Cents was introduced to reflect Maori culture. That year also saw the introduction of the 1 and 2 Dollar coins. The following years the 1, 2 and 5 Cents were phased out as inflation made them obsolete.

https://en.numista.com/catalogue/nouvelle-zelande-1.html
jokinen
Joined: 10-Feb-2013
Posts: 1677
Perhaps Neil wishes to add a few nice Kiwi anecdotes to this topic?
neilithic
Joined: 28-Mar-2011
Posts: 7494
The coins were resized in 2006 at the same time that the 5c coins were phased out as the cost of production was not economic with the larger coins. They also changed the composition of the 10c, 20c and 50c coins from cu-ni to a more hardwearing copper plated steel for the 10c and nickel plated steel for the 20c and 50c.

The first coins used were actually British coins, but mostly silver coinage was taken over from the UK as it was easier and more economical to take silver coins than it was to take large quantities of copper coinage on the four month boat journey. So to cover the shortage of lower values it was merchants that minted their own tokens that circulated as normal currency, not bank tokens. These make an interesting area of collection and I urge everyone to have a look at the Traders Tokens section of the New Zealand catalogue.

https://en.numista.com/catalogue/nouvelle-zelande-1.html#devise2978
Moneytane
Joined: 28-Jan-2014
Posts: 97
Not a bad description, but the Pennies and Halfpence were not added in 1937, they were added in November 1939 and the coins released were dated 1940. There was originally a plan to release them in 1940 to coincide with the centenary of the Treaty of Waitangi (The Treaty of spvereignship in which my people, the Maori ceded sovereignty to the British crown and the British monarch as head of state). However World war 2 intervened and the coins were rushed out from the Royal mint in London before the end of 1939.

All of our currency has been minted in the United Kingdom, with the exception of some coin issues from the Royal Australian Mint and Canadian mints (Mostly Uncirculated sets). Some of the 1997 $2 coins were also minted in South Africa, which caused headaches, as the $2 is a the Pokie machine (Fruities, one armed bandits) coin and the slightly different SA coins were rejected and jammed hoppers along with car parking machines.

Our coins were sterling to 1967. The silver was ceased in 1946, with 1947 3d to 5/- all being Cupro nickel and base metal. There were no coins minted in 1938 or 1966 and no denomination was minted every single year. Our great rarities are the 1935 Waitangi Crown (5/-) as it was sold at 7/6 in 1935, few sold as it was still the depression and now the coin is worth at least $3000 in any condition - only 1,128 were minted. The proof set of 1935 is even more collectable with the Crown, 3d and 6d,1/-,2/- and 2/6 Halfcrown all scarce themselves. Generally NZ silver is hard to find truly AU or UNC, Coins to VF are fairly easy though, except 1943, 1945 and 1946 which are fairly easy to find along with 1933 and 1934 which had generous mintages.

The other great rarity is the 1935 3d, the tiny coin had only 40,000 minted compared to the millions for other dates. Even a VG copy will set you back the low hundreds and truly XF/UNC coins cost $1000's. Other varieties include the 1942 3d with one diamond on the date, the Broken back shilling of 1946 and the high relief florin of 1946 (In silver, but minted in sharper relief like later Cupro nickel coins - the decision to scrap silver came in 1945 and tests were done in 1946, most 1947 dated CuNI coins were minted in 1946). Also collectable are various 1956 coins with the Strapless portrait of Her Majesty (They changed to Straps in 1956)

1967 saw the Introduction of Decimal currency, with 6 coins 1c and 2c in Bronze and the 5c, 10c, 20c, and 50c in Copper Nickel. The 50c was the size of the old half crown but worth twice as much, it had a reeded and plain edge to separate it from the lower coins. NZ did not bother with a Silver 50c like Australia and as we know it was only 1966 and in 1969 the 50 cents there came out in 12 sided form.

Also a $1 large coin was released, the same as the old crowns (1935 Waitangi and 1949 Royal Visit (The visit that never happened due to KGVI being ill). Like the 1953 Coronation/Royal Visit coin, it was Cupro nickel. These dollars came out every year to 1990, when it was changed to $5 as that year circulation $1 and $2 were released. Each dollar had a different design, but some years like 1967, 1971 - 73, 1975, 76 had the Coat of arms. Some years like 1983 had two designs.

The coins continued through to 1986, when the portrait changed from the Machin one to the Maklouf, a year later than Australia and Britain. In 1987 the last circulation 1 and 2 cent pieces were released and demonitised in 1989, but set coins appeared in the 1988 set. In 1968 no coins were released or circulation, but were issued in sets and 1968 also had no $1 coin.

In 1990, two major changes happened, the 20 cent got an updated design showing a giant Maori carving gate post called Pukaki. The $1 and $2 notes were phased out and replaced by $1 and $2 coins in aluminium bronze. Although dated 1990, the coins only emerged in February 1991, I remember them as I was 14 and dying to see what they looked like!

Very few circulation coins came out in the early 1990s, with nothing between 1990 20 cent pieces and a new issue of 5 cent pieces in 1994. The late 90s and early 2000s saw many coins issued.

More in a later post.
I love change coins and old coins, but my main focus is stamp collecting and the Muscial God - Prince
Moneytane
Joined: 28-Jan-2014
Posts: 97
Another mistake in the original post was the role of the 5 cent piece. The tiny coin hung on until 2006. The last mintings were done in 2004, when some 4 million coins were made, but only 30,000 made it in into circualtion making them scarce now. Many went into a tourist set of coins and another into the small change set released in 2006 and now very scarce costing $90 or so for 85 cents of old currency and 80 cents of new.

On July 31st 2006, the old 5 cent coin was phased out along with the 10c, 20c, and 50c. This ended a uniform size for the 3 lower coins since 1933. Cupro nickel had become too expensive and the real value of the coins was practically worthless, with a cup of coffee that cost 10c in 1967 now costing about $4 for a fancy one and $2 for filter coffee. Many complaints were received about the large 20c and 50c given their worthlessness.

However the last 5 cent coins were minted in 2004 and the other coins 2005 and now these coins are very rare and that is why the Small change sets are so collectable (Only 5000 issued and numbered). I have squirrelled away 2005 20c and 50c coins.

A two month toleration period was given to redeem the old coins, which became illegal on October 1st. At this time I was working in a $2 shop (Another effect of the poverty economy of the millenial era) and people from all around desparate to offload jars of change redeemed their cash on September 30. We imposed a limit of $10 change for sales (In NZ the legal limit is actually $5 for coins in cents and $20 for dollar coins), from it I pulled out mountains of rusted and dirty coins, but also a good lot of old Florins, shillings and sixpences including a 1942 silver shilling coin.

The coins were replaced by a new 10c in copper plated steel and stainless steel 50c and 20c. The new coins were smaller and lighter than the older ones. The old 50c was 32.5mm in size and weighed 13.5 grams, the new one was 26mm and weighed only 6 grams. This now meant the $2 was our largest and thickest coin weighing 10 grams and 27mm in size. The 20c dropped from 28.5mm and 11.3 grams down to 22mm and 5 grams. Designs were the same as the old coins.

There have been limited issues of these coins for circulation as they really are change coins only. The work horses are the $1 and $2 coins along with the 3 lower notes $5, $10 and mostly the $20. The 10 cents has been released most years since 2006, but 20c only appeared in 2006 and 2008, although new issues from 2014 and 2016 have just appeared. The 50c has only appeared in 2006 and 2009, with a limited 2015 issue. This does not include annual set coin issues.

A second 2015 50 cent issue showing an Anzac soldier pair with blackened background and specially printed flags was also issued, only 1 million were made and most were given to veterans and soldiers with the rest disappearing into collectors rolls of 20, which sold out in seconds. These coins are now rare collector pieces with almost none entering circulation (Trade Me seller sell them at $3 each when they came out and $10 orso each now - I squirreled away 10 of these coins).

Eftpos which is Debit card payment systems and advanced swipe creditcards and now apple cash have ensured cash money is limited here and coins are quite rarely used except by Kids, ethnic minorities and the poor. Some 80% of all payments in NZ are done by Eftpos.

Next sets of coins
I love change coins and old coins, but my main focus is stamp collecting and the Muscial God - Prince
Moneytane
Joined: 28-Jan-2014
Posts: 97
In addition to circulation currency, we have a tradition of coin sets issued from the Reserve Bank of New Zealand and sold at a hefty premium to collectors.

The first official set came in 1935 with the Waitangi Crown and the 5 silver coins then in circulation. This set is extrememly rare with under 363 copies issued. The 3d and Crown are both extremely rare coins and the rarest we have issued and the other 4 coins are not exactly common either. Very few sold given their cost (One Guinea 21/- or something like that for 11/3 worth of currency) and it was the Depression with men being as little as 5/- on work gangs. The red cardboard covers are also quite flimsy and have not survived. These sets appear in various states of completeness from time to time. They are never sold for less than $10,000 or so. 97 of the sets came in a plush case, but again most are stained and falling apart after 80 years.

The rest of the Predecimal era saw proof like coins issued, but apart from the 1961 - 1965 most ciruclation pieces are heavily worn and truly Proof like quality is rare for most dates and not known for some others. The 1949 coin crown for the Royal Visit was issue separately with no accompanying set, like all early dates people may have made their own sets though, but 1949 saw no 3d, 6d or 1/- coins issued. The coin was at least .500 silver when all the others were base metals. Unlike 1935, this coin is very common and usually found in VF or EF condition selling only above melt in truly UNC condition.

The second Proof set came in 1953, with the cupronickel "Coronation" crown being issued. This set is much more common (7000), but still quite expensive costing $175 to $500 depending on the quality of the coins. Also in a case, it is impossible not to find burnished and tarnished coins, so truly nice coins cost much more. Also none of the coins in this set are Precious metal and most 1953 Circulation coins are very common in average condition (VG to VF) but scarce in UNC condition. The crown was also issued in a nice plastic case and often the Crowns survive better than the Proof sets. Nice but super common. New Zealand in 1953 was a different country to 1935, Prosperous and well off, people bought this and the 1965 set in droves.

Then in 1965 Uncirculated sets were issued for the last Predecimal coins in heavy card packets. The sets were ultra common and designed so everyone could buy them as a souvenir. There were two grades (Blue - Standard coins and Pink - Polished coins) despite the high catalogue prices, these are common as muck and you can get both for $10 if you look wisely. By this stage every man and his dog was collecting and saving coins. NZer's knew of decimal currency and many saved as much of the old currency as possible. Many of the 1965 coins entered circulation (All except the penny and Halfcrown) and some can be found worn. And this was in addition to large issues of the ½d 3d, 6d, 1/- and Florin that year. Many 10/- and £1 notes were also issued and hoarded by well off 1960s New Zealanders. Even a few £5 and £10 were put aside but the rare £50 was too elusove and too great a sum of money (Average pay was about £15 - 25 a week for an average working man whether white or blue collar).

500 sets were balloted quality and are rare, 24,500 were proof sets with the Pink label and the other 175,000 were standard coins, all but the 500 came in the cardboard folder. None contained precious metals. So many 1965 dated coins were hoarded, that a boatload of used Australian pennies now obselete were bought over in early 1966 to alleviate a coinage shortage. During 1966 the Royal Mint issued no more coins as they were minting some of the nearly 300 million decimal coins dated 1967 for the rollout on July 10th.
I love change coins and old coins, but my main focus is stamp collecting and the Muscial God - Prince
jokinen
Joined: 10-Feb-2013
Posts: 1677
Thank you moneytane for the very informative posts!
Moneytane
Joined: 28-Jan-2014
Posts: 97
Starting with decimal currency, the Reserve bank started issuing annual sets of coins, not for circulation but for collectors. Numbers for 1967 were very high with the same arrangements as 1965, standard coins, polished and a few balloted sets. The first two came in cardboard sleeves like 1965, and there was a plush case one could buy for their set as well.

These sets contained the 1c to 50c of circulation coins and a special $1 coin showing the coat of arms of NZ, both are extraordinarily common and even now I pay 70c for an uncirculated 1967 $1 coin. However in 1968, no coins were issued for circulation and the set only went to 50c with no $1 coin. The six coins again were released as Standard and Polished coins, and a case was made for sale. The coins came packaged in a horrible plastic sleeve in PVC like every issue from 1965 to 1988. Until 1982, this plastic had softeners so the copper 1c and 2c often burnished and the other coins toned. It is recommended these sets are opened up and transferred to mylar flips.

Starting in 1969, an annual uncirculated set was issued each year in a plastic wallet, that had the set of 7 coins (1c to 50c and the $1 commem coin) in one pocket and an information card listing the weights and design of each coin in the other. Only the date and the description for the dollar changed from year to year. Starting in 1980 they used better plastic and the coins come across less toned.

The dollars had new designs each year, 1969 was James Cook, 1970 was Mt Cook, and so on. Then 1971 to 1973 was standard coats of arms and same with 1975/76. 1974 Commonwealth games and 1977 to 1988 featured a new anniversary each year. These large dollars were also sold separately in jewel cases with a plastic surround and cost $5 or so each, so these large dollars did not circulate, although they were legal tender. Average mintages were only 10 - 30,000 and were aimed at collectors. 1970 saw the Mt. Cook dollar and a Cook Islands dollar (Cook Islands only got their own coinage in 1972). The latter is scarce and issued loose only. 1983 saw 50th anniversary of coins and the Royal visit, the former was in sets, and latter as a loose $1 coin only.

From 1968 to 1971 the Proof sets were polished coins in base metal like the Uncirculated sets and again, these were sold loose or in packets, but designed for separate plush cases. As a result most are toned or burnished and exceptionally nice proof sets of the era are more rare than usual examples. Starting in 1972 however the Proof sets improved to being a $1 coin minted in Sterling (0.925) silver next to polished base metal 1c to 50c coins. As the $1 was huge and contained 25 grams of silver, the price was high, being at some $25 in 1972 and over $100 by the late 1980s. The set was enclosed in a thick plastic case with a foam cushion for the coins to fit snuggly in. By the mid 1970s the cases could also stand up and the inserts included the same cards as uncirulated, but nicer card. lettering and even numbered certificates. Proof dollars in silver were also issued separately in "Ring" plush velveteen boxes.

The next change came in 1989, when the plastic cases for uncirculated sets were changed to glossed card board covers with a slipcase for them and a thinner plastic covering each coin. Also the 1989 and 1990 sets only contained 5 coins as the 1c and 2c had been phased out.

In 1990 also the $1 commem coin became a $5 coin as the $1 and $2 were now small sized coins. 1990 saw the issue of a special 1990 sesquicentennial set of 5c to $1 with new designs and also issued in Proof silver versions. There were also 4 x $1 coins issued for the 1990 Commonwealth games in Auckland.

1991 saw another change with the Uncirculated and Proof sets being of 7 coins again. Now they contained a 5c, 10c, 20c and 50c in Cupronickel, the Aluminium Bronze $1 and $2 and the $5 large size coin in Cupronickel for Uncirculated sets and Silver for Proof sets. The Proof sets came in the same cases as before and the $5 coinw as polished silver and others also polished, whereas the Uncirculated were standard coins chosen at the time of minting.

Like the $1 before the $5 was the same size and featured new topics each year. Again the coin was a commem and not intended for circulation, as the $5 denomination was and still is a banknote. As the 1990s wore on Minting numbers dropped into the low Thousands.

Starting in the late 1990s coins for bullion and collectors were released in addition to the set coins, these included 50c, $10, $20 and even a gold bullion $150 coin released at various times. Special $5 coins were released in the late 1990s for each of the 4 main cities in Uncirculated CuNi and Proof silver versions. Pride in New Zealand and various bullion issues followed.

In the 2000s, gimmicky gold, silver and aluminium bronze collectors coins followed for the Lord of the Rings and Hobbit movies, tie ins with stamp issues were also issued. The amount of overpriced rubbish expanded exponentially, so that the old Proof and uncirculated sets were just one part of a massive issuing craze at the time.

Today Proof and Uncirculated sets and coins are still issued, but are hard to get as barely 1,000 are minted and prices are ridiculous to say the least.
I love change coins and old coins, but my main focus is stamp collecting and the Muscial God - Prince
Moneytane
Joined: 28-Jan-2014
Posts: 97
Updating these posts, I need to correct a few mistakes

Proof sets were in Cupronickel until 1977 not 1972 as I noted earlier. I found this out when I got a 1976 set (The year of my birth) and they were clearly cupro nickel coins including the dollar.

Also uncirculated sets after 2006 with the small coins had the small coins minted in bronze (10c) and Cupronickel (20c and 50c) this differed to the stainless steel of standard coins. In 2012 the last set of 6 coins was issued, in 2013 and 2014 Uncirculated $5 coins were issued separately from the $2 - 10c coins and in 2014 Uncirculated sets stopped with only Proofs being issued. Several large $1 and $5 coins are issued yearly in .999 Silver ($1 Bullion) and .925 Sterling for $5 commemorative coins.

Small sized circulation coins have been issued in 2006, 07, 09, 10 - 15 for 10 cents, 2006, 08, 14 and 15 for 20c and 2006, 09, 14 and 15 for 50 cents.

The 50 cents also had a Gallipoli special coin in 2015 and an armistice coin in 2018. The first had a mintage of 1 million and 2nd of 2 million. Both are scarce and sell for around $3 each on trade me.

Dollar coins include the dates 1990, 91, 00, 02 - 05, 08, 10, 15
Two dollar coins - 1990, 91, 97, 98, 99, 01 - 03, 05, 08, 11, 14 - 16 (Although I have not seen any 2016 dated coins yet)

So we don't get circulating pieces every year and they are all minted overseas, so the Reserve Bank decides when we get coins released. Also for all denominations, the first two years of dollars (1990 and 1991) saw 100 million coins released and most are still doing well (Avg condition F - VF) and 2006 saw jumbo numbers of cents coins, most 2006 coins are still XF or better and lustrous given this cheap metals durability.
I love change coins and old coins, but my main focus is stamp collecting and the Muscial God - Prince
Moneytane
Joined: 28-Jan-2014
Posts: 97
The special 50 cent coins



2015 Gallipoli 50 cent piece - Stainless steel 24.5mm, minted Royal Canadian mint
I million, 500k distributed to Armed forces, 400k sold in rolls through Post Office, 100k in circulation - never seen

2018 Armistice coin - 2 million, same specs as above - most disappeared to Armed forces, rolls and collectors (I have 48 of these coins!)



2018 close up
Outside (On the eleventh hour of the eleventh day of the eleventh month)
Inner ring Maori korus and ferns
Middle - Coloured poppy with ferns and wreaths
I love change coins and old coins, but my main focus is stamp collecting and the Muscial God - Prince
neilithicman
Joined: 22-Nov-2017
Posts: 642
It's a pity they only allowed 1 roll per person to be ordered at a time. I was hoping to get 2 rolls so I could have one roll to keep whole and one to split up to give away, but I wasn't going to pay two lots of $5 postage for a $10 roll of coins.
What? Me Worry
Moneytane
Joined: 28-Jan-2014
Posts: 97
Quote: "neilithicman"​It's a pity they only allowed 1 roll per person to be ordered at a time. I was hoping to get 2 rolls so I could have one roll to keep whole and one to split up to give away, but I wasn't going to pay two lots of $5 postage for a $10 roll of coins.
​That $5 postage was a deliberate rort. There was no way to buy them at the Post Shops like with the 2015 coins, and they had all sold out on Day 1. I had friends who got 3 rolls and I want to know how anyone could be selling a box of 50 rolls on Trade Me a week later.

These coins were all like $3 each on Trade Me straight away (Non Kiwis - Trade Me is our Ebay style online site - our Bid or Buy or Kajiji). I bought my one roll and then my friend sold me one for $15 and he let pick some change out of his box with numerous 50c in it, hence why I have 48 of them.

You know something's up when standard currency sets cost over $100 for $3.80 worth of coins and another $80 for the $5 commem.
I love change coins and old coins, but my main focus is stamp collecting and the Muscial God - Prince
Moneytane
Joined: 28-Jan-2014
Posts: 97
New Zealand also issued some commemorative coins in the Predecimal era.

There was the 1935 Waitangi crown which is very rare and sells in the 5 figures.

More affordable was the 1940 Centennial Half Crown https://en.numista.com/catalogue/pieces18188.html


100,080 were issued and they were sold at the Centennial Exhibition, minted in 50% and rest copper, the coins were snapped up quickly and put away. Very few entered circulation and even VF examples retail around $20 now. However unlike most silver Half crowns, which range from Good condition to UNC, prices range from $5 or melt for G/VG examples through to $1000s for UNC pieces, an Uncirculated example of this coin is only about $80.

Most of these coins are found in VF condition and very few are more worn The coin on the Numista page is a standard VF/gVF example. This example is a decent EF/AU. The King had visible wear on cheek and headlines, but the other side is virtually UNC, but with some wear on the dress (AU). It is probably worth twice what a VF coin is, yet I paid only $10 for it.
I love change coins and old coins, but my main focus is stamp collecting and the Muscial God - Prince
neilithicman
Joined: 22-Nov-2017
Posts: 642
I actually find that the 1949 Crown is cheaper than the 1940 half, perhaps because of the wonderful design.

VF examples of the 1940 half are usually listed for $25-$30 whereas the 1949 crown in similar condition is usually $20-$25. I had one up for sale for $25 for several weeks and had no bites at all. Eventually sold I off to a young Australian member of Numista for $15, because I felt better about that than offering it to the numerous vultures on trademe who were hanging out trying to get it for next to nothing.

What? Me Worry
muzz0000
Joined: 11-Dec-2013
Posts: 512
Quote: "neilithicman"​It's a pity they only allowed 1 roll per person to be ordered at a time. I was hoping to get 2 rolls so I could have one roll to keep whole and one to split up to give away, but I wasn't going to pay two lots of $5 postage for a $10 roll of coins.
​Hi Neil- I got 2 rolls for myself and 2 for my wife with $5 postage- i think you need to be nice to the ladies in Wanganui , have been giving to traders as a gift -- unlike the first one have not seen circulating Murray
Moneytane
Joined: 28-Jan-2014
Posts: 97
Yes, we do have a bit of corruption with these things, I feel the Reserve Bank is deliberately making these coins as expensive collectables rather than circulating currency as their intention.

Another mistake I need to correct from earlier posts.

1. The 2004 5 cent piece was released in bigger numbers and now hoards have been found and the coin is now common and quite cheap to buy (Catalogue value crashed from $50 to $4)

2. Proof collectors sets, from 1977 onwards, only the $1 or $5 for post 1990 sets, was minted in Sterling Silver, the 1c to 50c (pre 1990) and 5c - $2 (Post 1990) were all base metal.
I love change coins and old coins, but my main focus is stamp collecting and the Muscial God - Prince
PhilipBe
Joined: 28-Oct-2012
Posts: 75
A small question, as New Zealand and also Australia are part of the commonwealth,
why do they have the "dollar" and not the "pound" ?
CassTaylor
Joined: 30-May-2014
Posts: 7363
Quote: "PhilipBe"​A small question, as New Zealand and also Australia are part of the commonwealth,
​why do they have the "dollar" and not the "pound" ?
​They did until 1966, when they switched from the Aussie/NZ pre-decimal pound to a new currency, the decimal Aussie/NZ dollar at the rate of 10 shillings (or half a pound) to 1 dollar.
une Franglaise; ♪ je brosse ma chevelure ♫
neilithicman
Joined: 22-Nov-2017
Posts: 642
Most countries that used to use the pound sterling as their currency decimalised their coins in the 1960s-1970s. The UK was the only one that kept their currency name as the pound.

NZ, Australia, Fiji, Jamaica, Rhodesia, etc changed to the dollar, South Africa switched to the rand, Samoa the Tala, Tonga the Pa'anga, Gambia the Dalasi, etc. All of them are a base 10 system rather than the confusing 240 pence to the pound system.
What? Me Worry
Moneytane
Joined: 28-Jan-2014
Posts: 97
Quote: "PhilipBe"​A small question, as New Zealand and also Australia are part of the commonwealth,
​why do they have the "dollar" and not the "pound" ?
​Change is a wonderful thing. By the 1960s we were cutting our Apron Strings to Mother Britain and wanted a distinctive currency. Yet remain in the currency union with the UK (The dollar was pegged at 10/- and later 50p).

Early suggestions were to call our new dollar the Kiwi, and the Australian's to call theirs the Royal.

Another reason was for simplicity, dollar currencies are base 10, meaning you have the 100 cents rather than 240 pennies and 20 shillings. It is simpler too as the main unit has 1 subunit not 2. Maths and accounting became easier overnight.

Also both countries were in ANZUS (Australia, New Zealand, United States) and it seemed good to have similar named currencies (Although initially our dollar was stronger than the US and Australian and now its weaker than both (NZ$1 = 94 cents AUD and 67 cents USD). This was because our dollar was floated in 1984 and promptly dropped in value. Despite this our Dollar is the 10th most traded currency in the world (Australian is 4th or 5th) and is a stable unit of currency.

Finally most of the world by the 1960s was using a "Base 10" system with dollars, francs, marks, yuan, pesetas, pesos, escudos, lira etc - all were base 10 decimal style currencies. Only the British held out and even by 1967 it was only the UK and a few colonies still using sterling, the Asian colonies all used a decimal system based on dollars, the Indians decimalised the rupee in 1957 and Pakistan in 1961. Most of the Caribbean colonies used a communal Caribbean dollar. Also East Africa (Kenya, Uganda, Tanzania) had been using decimal shillings since 1927.

In 1966 Australia changed over taking Papua and New Guinea, Gilbert and Ellice, the Solomon Islands and Nauru into decimal currency with it. When we switched in 1967, the Cook Islands, Niue, Tokelau and Tonga and Samoa also adopted decimal currency. In 1969 laggards Fiji and Jamaica became decimal.

Southern and West Africa in the Commowealth were the last to convert. Ghana, Gambia and Sierra Leone in 1965, Botswana in 1966, South, South West Africa, Lesotho and Swaziland in 1961 - Rhodesia Zimbabwe in 1970, Zambia in 1968,

Gibraltar, Cyprus and the Channel Islands all did in 1971 with Britain along with Ireland. The last two sterling holdouts were Malta who only converted in May 1972 and the very last was actually Nigeria whom only abandoned the Pound in April 1973 for the Naira made up of 100 Kobo
I love change coins and old coins, but my main focus is stamp collecting and the Muscial God - Prince

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