Introduction of Decimal Currency
In
1959, a committee was set up to study and report on decimal coinage. This
committee was in favour of such an adoption, and after further study, it was announced
in 1963 that New Zealand would change to a decimal coinage system.
In
1964, the Decimal Currency Act, 1964 prescribed the designs, diameters, and
standard weights of the decimal coins, which first appeared in circulation on
10th July 1967. These coins were all designed by Reginald George James Berry
(known as James) of Wellington. His initials (JB) appear on the reverse of all
of our then bronze and cupro-nickel coins.
The
word Shilling was included on the 10 cent coin to assist with the transition to
decimal currency, it featured on minting of the 10c coin for the years 1967,
1968 and 1969 and was dropped in 1970. The 1968 10 cent coin minting were for
collectors sets only.
The
coins introduced :
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New
Denomination Old Denomination Coin Specification
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50
cents 5 shillings Alloy: Cupro-nickel
(one Crown) Diameter: 31.75mm
Weight:
13.61gm
Design: The barque Endeavour,
commanded by Captain Cook, sailing south, with Mt. Taranaki (Egmont) in the
distance under the figure "50"
20
cents 2 shillings Alloy: Cupro-nickel
(one Florin) Diameter: 28.58mm
Weight:
11.31gm
Design: Kiwi facing right and fern
bush with figure "20"
10
cents 1 shilling Alloy: Cupro-nickel
(one Bob) Diameter: 23.62mm
Weight:
5.66gm
Design: A Maori carved head or koruru
under the figure "10" with Maori rafter patterns
5
cents 6 pence Alloy: Cupro-nickel
Diameter:
19.43mm
Weight:
2.83gm
Design: A tuatara curled on a coastal
rock on which is superimposed the figure "5". A gull flies in the
background
2
cents 3 pence Metal:
Bronze
Diameter:
21.08mm
Weight:
4.14gm
Design: Two kowhai flowers and leaves
surrounding the figure "2"
1
cent 1 penny Metal: Bronze
Diameter:
17.53mm
Weight:
2.07gm
Design: A stylised fern leaf
enclosing the figure "1"
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On
the 31st March 1989, the issue of 1 and 2 cent pieces ceased. Both coins were
demonetised on the 30th April 1990.
In
December 1990, a new 20 cent piece was introduced to replace the old 20 cent
piece, as the Kiwi design on the old 20 cent piece was transferred to the new
$1 coin. Both designs of the 20 cent coin are legal tender along with the
earlier two shilling piece or florin.
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20
cents Alloy:
Cupro-nickel
Diameter:
28.58mm
Weight:
11.31gm
Design: A representation of a
well-known Maori "pukaki" carving.
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On
the 11th February 1991, new $1 and $2 coins were introduced to replace the $1
and $2 notes. These two coins and above 20 cent coin were all designed by
Robert Maurice Conly, M.B.E. of Wellington.
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$1 Alloy:
Aluminium-bronze
Diameter:
23.0mm
Weight:
8.0gm
Design: The
kiwi, bringing to reality the colloquial
term ‘Kiwi Dollar'.
$2 Alloy:
Aluminium-bronze
Diameter:
26.5mm
Weight:
10.0gm
Design: The kotuku (white heron),
flying right. The kotuku is one of New Zealand's rarest birds and is held in
particularly high regard in Maori mythology.
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On
the 31st July 2006, the Reserve Bank introduced new smaller and lighter 10, 20
and 50 cent coins made of plated steel.
The Bank started withdrawing the corresponding old silver-coloured
cupronickel coins at the same time. The
5 cent coin was withdrawn and not replaced.
The old coin were demonetised, ie declared no longer legal tender, with
effect from 1 November 2006.
