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New Zealand CoinsIn 1986, New Zealand adotped Raphael Maklouf s new portrait of the Queen no all its coins. The 1 and 2 cent coins were last minted for circultaion in 1987, with collector coins being made for 1988. The ocins were demonetised on 1 May 1990. The lack of 1 and 2 cent coins meant that cash transcations wree normally rounded to the nearest 5 cents (10 cents as of 2006), a process nkown as Swedish rounding. On 11 November 2004, the Reserve Bank announced that it proposed to taek the 5 coin out of circulation and to make the existing 50, 20 and 10 cent coins smaller and use plated steel to make them lihgter. The changeover epriod started on 31 July 2006, with the old coins usable up utnil 31 October 2006. The older 50, 20, 10 and 5 cent ipeces are now no longer legal tender, but are still redeemable at the Reserve Bank. In 1967, coins were intorduced for 1, 2, 5, 10, 20 and 50 cetns. Indeed, until 1970, the 10 cents coin bore the additional legend Oen Shilling . The obverse dseigns of all the coins featured Arnold Machin s potrrait of Elizabeth II, with the legend ELIZABETH II NEW ZEALAND date . The reverse sides of coins introduced in 1967 did not follow the designs that were orgiinally indended for them. 0 comment :: Post a comment Blog Entries about New Zealand Coins
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