The coins of the New Zealand dollar are used for the smallest physical currency available in

New Zealand New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island count ...

. The current denominations are

ten cents Ten cents or Ten Cents may refer to: * 10 cent coin, a coinage value in many systems using decimal currencies * Ten Cents (''TUGS''), a fictional character in children's television series, ''TUGS'' * Tencent Tencent Holdings Ltd. () is a Chine ...

, twenty cents, fifty cents, one dollar and two dollars. The $1 and $2 coins are minted in a gold colour, the 20c and 50c coins are silver colour and the 10c coin is plated in copper. Larger denominations of the

New Zealand dollar The New Zealand dollar ( mi, tāra o Aotearoa; sign: $, NZ$; code: NZD) is the official currency and legal tender of New Zealand, the Cook Islands, Niue, the Ross Dependency, Tokelau, and a British territory, the Pitcairn Islands. Within Ne ...

are minted as

banknotes of the New Zealand dollar New Zealand dollar banknotes are the banknotes in circulation in New Zealand, the Cook Islands, Tokelau, Niue and the Pitcairn Islands, denominated in the New Zealand dollar (symbol: $; ISO 4217 currency code NZD, also abbreviated ). They ar ...

History

Pre-dollar

Prior to 10 July 1967, the New Zealand pound, using the

£sd £sd (occasionally written Lsd, spoken as "pounds, shillings and pence" or pronounced ) is the popular name for the pre-decimal currencies once common throughout Europe, especially in the British Isles and hence in several countries of the ...

system, was the currency of New Zealand. Coins of the pound tend to follow the size, weight, and composition of their British counterparts. The main coins in usage were the halfpenny (d), penny (1d), threepence (3d), sixpence (6d), shilling (1s), florin (2s), and halfcrown (2s 6d).

First coins

Decimalisation of the New Zealand currency occurred on 10 July 1967, when the New Zealand pound was replaced by the New Zealand dollar at a rate of one pound to two dollars (10 shillings to a dollar). On the same day, new decimal coins were introduced to replace the existing pound coins. The first coins of the New Zealand dollar were 1c, 2c, 5c, 10c, 20c, and 50c. The 1c, 2c, and 50c coins were new sizes, with the 1c and 2c minted in bronze, and 50c in cupronickel. The new 5c, 10c, and 20c were the same size, weight, and value as the former sixpence, shilling, and florin coins. Indeed, until 1970, the 10 cents coin bore the additional legend "One Shilling". The obverse designs of all the coins featured

Arnold Machin Arnold Machin OBE, R.A., FRSS (; 30 September 1911 – 9 March 1999) was a British artist, sculptor, and coin and postage stamp designer. Life Machin was born Stoke-on-Trent in 1911. He started work at the age of 14 as an apprentice china pa ...

's portrait of

Elizabeth II Elizabeth II (Elizabeth Alexandra Mary; 21 April 1926 – 8 September 2022) was Queen of the United Kingdom and other Commonwealth realms from 6 February 1952 until her death in 2022. She was queen regnant of 32 sovereign states during ...

, with the legend ELIZABETH II NEW ZEALAND

ate Ate or ATE may refer to: Organizations * Active Training and Education Trust, a not-for-profit organization providing "Superweeks", holidays for children in the United Kingdom * Association of Technical Employees, a trade union, now called the Nat ...

The initial designs for the reverse sides of the coins introduced in 1967 were rejected by the Royal Mint. Several more designs were produced, followed by a vigorous public debate. James Berry's designs were eventually accepted for most of the coins, although he was asked to rework his design for the 5c coin and Francis Shurrock's design for the 10c coin. The value of all New Zealand coin per piece value each: (1967 - 1986) 1cent and 2 cent : $250(NZD) (1967 - 1986) 5cent : $209(NZD) (1967 - 1997) 10cent : $105(NZD) (1967 - 1998) 20cent : $84.25(NZD) (2000) Millenium 50cent : $800(NZD) In 1986, the portrait of Elizabeth II on New Zealand coins was changed to

Raphael Maklouf Raphael David Maklouf (born 10 December 1937) is a British sculptor, best known for designing an effigy of Queen Elizabeth II used on the coins of many Commonwealth nations. Maklouf was born in Jerusalem, to a Jewish family; his father was S ...

's new portrait of the Queen.

Removal of 1 and 2 cent coins

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 became instead of ). 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 . Value of each 1 cent and 2 cent is $250(NZD)

Introduction of 1 and 2 dollar coins

On 11 February 1991, $1 and $2 coins were introduced to replace the $1 and $2 notes in circulation. These coins were minted in aluminium bronze, and were the first New Zealand coins to be minted to metric specifications. At the same time, because the new $1 coin depicted a kiwi, the 20c coin reverse design was changed. The new 20c coins depicted a Māori carving of Pukaki, a chief of the Ngati Whakaue

iwi Iwi () are the largest social units in New Zealand Māori society. In Māori roughly means "people" or "nation", and is often translated as "tribe", or "a confederation of tribes". The word is both singular and plural in the Māori language, ...

. Coins with kiwi design, however, outnumbered coins with the new design until they were replaced with the new 20c coins, all depicting the later design, in 2006. In 1999,

Ian Rank-Broadley Ian Rank-Broadley FRBS (born 1952) is a British sculptor who has produced many acclaimed works, among which are several designs for British coinage and the memorial statue of Princess Diana at Kensington Palace in London unveiled on her 60th ...

's portrait of the Queen was introduced and the legend rearranged to read NEW ZEALAND ELIZABETH II

Change to smaller coins

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 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 & 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 able to be handed in at the Reserve Bank in Wellington, either in person or by post, in exchange for their face value. Any old currency surrendered in this way for its face value must be paid directly into a bank account. This can be either a New Zealand account in New Zealand Dollars, or a Foreign bank account in any of the following five currencies: USD, CAD, GBP, AUD, or EUR. In August 2005, the

Royal Canadian Mint }) is the mint of Canada and a Crown corporation, operating under the ''Royal Canadian Mint Act''. The shares of the Mint are held in trust for the Crown in right of Canada. The Mint produces all of Canada's circulation coins, and manufacture ...

, 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 coin
Change For The Better Learning Resources
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, parking meters, and coin deposit machines at banks.

Future

After the death of Queen Elizabeth II in September 2022, the Reserve Bank said it would exhaust its existing coin stocks before introducing new coins featuring

King Charles III Charles III (Charles Philip Arthur George; born 14 November 1948) is King of the United Kingdom and the 14 other Commonwealth realms. He was the longest-serving heir apparent and Prince of Wales and, at age 73, became the oldest person to a ...

. Based on current stock levels, this would likely be several years away.

Current coinage

there are five denominations of coins in regular circulation: 10c, 20c, 50c, $1, and $2. All New Zealand coins are round, and use medallic orientation. Commemorative and collectable coins are available from

New Zealand Post NZ Post ( mi, Tukurau Aotearoa), shortened from New Zealand Post, is a state-owned enterprise responsible for providing postal service in New Zealand. The New Zealand Post Office, a government agency, provided postal, banking, and telecommuni ...

as the agent for the

Reserve Bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central ba ...

. There are two commemorative coins currently in circulation as legal tender. The first one was released on 23 March 2015 and has a monetary value of 50c. It features the standard obverse design but on the reverse it features two soldiers, one New Zealander and one Australian surrounded by two ferns and a mangopare (hammerhead shark) design; with the words "The Spirit of Anzac We Will Remember Them" and "1915–2015" in reference to the 100th anniversary of the Battle of Gallipoli in 1915. It is the first circulating coin to feature colour, a black background around the soldiers. The coins are limited to 1,000,000 and were minted by Canadian Mint. The second one was released on 1 October 2018 and also has a monetary value of 50c. It also features the standard obverse design but on the reverse it features a RSA poppy in the middle, surrounded by a free formed remembrance wreath that has incorporated the silver fern and the koru; with the words "Eleventh Hour of the Eleventh Day of the Eleventh Month". It was issued to commemorate the 100th anniversary of Armistice Day. It is the second circulating coin to feature colour. The coins are limited to 2,000,000 and were minted by the Canadian Mint.

Past coinage

Changes to coinage in 1990 and 2006 has resulted in several demonetised coins. Coins have been demonetised for various reasons. This is a list of demonetised coins:

Other coins

Mule coins

Numerous mule coins have been accidentally minted, at least two of which have ended up in circulation. The first instance occurred in 1967, when the two cent coin was accidentally minted with the obverse of the Bahamian five cent coin. Subsequent examples include a New Zealand 1981 5c obverse muled with a Canadian 10c reverse and a 1985 50c obverse muled with a Canadian $1, both of which are extremely rare. Another example occurred in 2000, with ten known instances of the commemorative $5 coin found in uncirculated sets. This coin had the pied cormorant on the reverse side, as did the other $5 coins of the year, however the obverse was from Solomon Islands. Though not technically a mule, a mix-up of a different kind arose in 1975 when some NZ 20c coins were accidentally struck on scalloped blanks intended for the Hong Kong $2 coin. The obverse and reverse dies are correct for the NZ coins; only the blank is the incorrect shape. An earlier reported instance of a mule involving the small-sized 20c coin introduced in 2006 with a Canadian 5c most probably relates to reports in the press of the discovery of Canadian 5c coins in mint rolls of NZ 20c coins, mainly in the

Taranaki region Taranaki is a region in the west of New Zealand's North Island. It is named after its main geographical feature, the stratovolcano of Mount Taranaki, also known as Mount Egmont. The main centre is the city of New Plymouth. The New Plymouth D ...

; this was simply a packaging error and no actual muled coins are known.

Commemorative coins

* Silver dollars: New Zealand has produced many silver dollars, usually annually, from 1967 onwards. ** 1967: Decimalisation of New Zealand's currency ** 1969: 200th anniversary of the landing of

Captain Cook James Cook (7 November 1728 Old Style date: 27 October – 14 February 1779) was a British explorer, navigator, cartographer, and captain in the British Royal Navy, famous for his three voyages between 1768 and 1779 in the Pacific Ocean and ...

in New Zealand ** 1970: Mount Cook ** 1970:

Cook Islands ) , image_map = Cook Islands on the globe (small islands magnified) (Polynesia centered).svg , capital = Avarua , coordinates = , largest_city = Avarua , official_languages = , lan ...

** 1971–1973: New Zealand Coat of Arms ** 1974: 1974 Commonwealth Games in

Christchurch Christchurch ( ; mi, Ōtautahi) is the largest city in the South Island of New Zealand and the seat of the Canterbury Region. Christchurch lies on the South Island's east coast, just north of Banks Peninsula on Pegasus Bay. The Avon Rive ...

** 1974: New Zealand Day, 6 February ** 1975–1976: New Zealand Coat of Arms ** 1977: 25th Anniversary of accession of Elizabeth II to Queen of New Zealand, on

Waitangi Day Waitangi Day ( mi, Te Rā o Waitangi), the national day of New Zealand, marks the anniversary of the initial signing – on 6 February 1840 – of the Treaty of Waitangi, which is regarded as the founding document of the nation. The first Wai ...

(6 February) ** 1978: 25th anniversary of the

coronation of Queen Elizabeth II The coronation of Elizabeth II took place on 2 June 1953 at Westminster Abbey in London. She acceded to the throne at the age of 25 upon the death of her father, George VI, on 6 February 1952, being proclaimed queen by her privy and executive ...

on 2 June ** 1980:

Fantail Fantails are small insectivorous songbirds of the genus ''Rhipidura'' in the family Rhipiduridae, native to Australasia, Southeast Asia and the Indian subcontinent. Most of the species are about long, specialist aerial feeders, and named as " ...

bird ** 1981: Royal Visit by Queen Elizabeth II ** 1982: Takahē bird ** 1983: Royal Visit by Prince Charles and

Princess Diana Diana, Princess of Wales (born Diana Frances Spencer; 1 July 1961 – 31 August 1997) was a member of the British royal family. She was the first wife of King Charles III (then Prince of Wales) and mother of Princes William and Harry. Her ac ...

of Wales ** 1983: 50th Anniversary of New Zealand coinage ** 1984: Chatham Island black robin ** 1985:

Black stilt The black stilt (''Himantopus novaezelandiae'') or kakī (Māori) is a wading bird found in New Zealand. It is one of the world's rarest birds, with 169 adults surviving in the wild as of May 2020. Adult kakī have distinctive black plumage, l ...

** 1986: Royal Visit by Queen Elizabeth II ** 1986: Kakapo (native parrot) ** 1987:

National Parks A national park is a natural park in use for conservation purposes, created and protected by national governments. Often it is a reserve of natural, semi-natural, or developed land that a sovereign state declares or owns. Although individua ...

** 1988:

Yellow-eyed penguin The yellow-eyed penguin (''Megadyptes antipodes''), known also as hoiho or tarakaka, is a species of penguin endemic to New Zealand. Previously thought closely related to the little penguin (''Eudyptula minor''), molecular research has shown it ...

** 1989: 1990 Commonwealth Games in

Auckland Auckland (pronounced ) ( mi, Tāmaki Makaurau) is a large metropolitan city in the North Island of New Zealand. The most populous urban area in the country and the fifth largest city in Oceania, Auckland has an urban population of about ...

(4 variants, runner, gymnast, swimmer, weightlifter) ** 1990: 150th Anniversary of the (

Treaty of Waitangi The Treaty of Waitangi ( mi, Te Tiriti o Waitangi) is a document of central importance to the History of New Zealand, history, to the political constitution of the state, and to the national mythos of New Zealand. It has played a major role in ...

) * A range of two-dollar coins depicting a

kingfisher Kingfishers are a family, the Alcedinidae, of small to medium-sized, brightly colored birds in the order Coraciiformes. They have a cosmopolitan distribution, with most species found in the tropical regions of Africa, Asia, and Oceania, ...

were made during 1993. * Five dollar coins: Minted sporadically from 1990 onwards. Five dollar coins have never been minted for circulation but specifically for commemorative purposes. They are legal tender. * Ten dollar coins: Minted sporadically from 1995 onwards. Ten dollar coins have never been minted for circulation. They are legal tender. * Twenty dollar coins: Minted in 1995 and 1997, only 2 sets of twenty-dollar coins have been made. * One Hundred and Fifty dollar coins: Minted in 1990 and 1998, only 2 sets of one hundred and fifty dollar coins have been made. * 1 million commemorative 50-cent coins were issued in 2015 to mark the centenary of the Gallipoli landings. Unlike previous New Zealand commemorative issues, they entered general circulation. * 2 million commemorative 50-cent coins were issued in 2018 to mark the centenary of Armistice Day. These also entered general circulation.

Limits on coins constituting legal tender

According to the Reserve Bank Act 1989, there are limits on the amount that constitutes legal tender: * coins of a denomination of or more, there is no limit * coins of a denomination of or more but less than , the limit is * coins of the denomination of 5 cents or more, but less than , the limit is

Use of other countries' coins

Due to regional travel and the fact that many other former British colonies around the world use coinage systems with British-derived origins of sizing and weight, many Fijian, Samoan,

Singaporean Singaporeans, or the Singaporean people, refers to citizens or people who identify with the sovereign island city-state of Singapore. Singapore is a multi-ethnic, multi-cultural and multi-lingual country. Singaporeans of Chinese, Malay, Ind ...

, South African, and especially Australian coins had been in daily circulation in New Zealand despite not being official legal tender. It is of note that the United Kingdom itself does not use these sizes of coins any more, and there has been the odd case of foreign coins appearing in a customer's change. The consistently similar but not significantly higher value of the Australian currency and the obverse side of Australian coins being almost the same as New Zealand coins also didn't discourage this practice, with millions of 5, 10, and 20 cent Australian coins having been used in New Zealand in an identical manner to their true counterparts. These coins could circulate for long periods without being recognised. The coinage size and material changeover (see section ''Change to smaller coins'' above) of 31 July to 31 October 2006 means these foreign coins can no longer be accepted interchangeably, though the new 10 cent coin strongly resembles the British one penny coin in size, weight and appearance and the unchanged one dollar coin remains very similar to the Fijian counterpart. There is also occasional confusion between the New Zealand one-dollar coin and the Australian two dollar coin, and similarly between the New Zealand two dollar coin and Australian one dollar coin, on account of the coins' similar sizes and weights.

Minting figures

Source:

References

{{Economy of New Zealand *Decimal