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The pound (symbol £, £NZ. [1] for distinction) was the currency of New Zealand from 1933 until 1967, when it was replaced by the New Zealand dollar.Prior to this, New Zealand used the pound sterling since the Treaty of Waitangi in 1840.
The half-crown is the largest of five denominations of New Zealand pound coinage first issued in 1933. Introduced due to shortages of comparable British silver coinage following the devaluation of the New Zealand pound relative to the pound sterling, the coin measures roughly 32 mm (1.3 in) in diameter.
However, as pound sterling coinage in New Zealand was devalued relative to the same coins' value in Britain, a resulting wave of currency smuggling caused a massive decline in the amount of British silver coins available in New Zealand. The devalued pound sterling coinage in circulation in New Zealand was smuggled into Australia and the United ...
Decimalisation of the New Zealand currency occurred on 10 July 1967, when the New Zealand pound was replaced by the New Zealand dollar. On the same day, new decimal banknotes were introduced to replace the existing pound banknotes, in denominations of $1, $2, $5, $10, $20, and $100. [3] [4]
The coins of the New Zealand dollar are used for the smallest physical currency available in New Zealand. The current denominations are ten cents, 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 are minted as ...
After several decades of proposals, the New Zealand government pursued the creation of a domestic coinage the same year. [4] The Coinage Act, 1933, outlined the weights and sizes of the six denominations of New Zealand silver coinage, defining the shilling as a coin with a weight of 5.66 grams. [5] The shilling was worth twelve pence or half a ...
The New Zealand sixpence is a coin of the New Zealand pound issued from 1933 to 1965. Equal to twice a threepence or half a shilling , the sixpence was one of five denominations of silver coins introduced in the initial issue of New Zealand coinage in 1933.
Sutherland cited precedence in the commemorative crown issues of the British pound alongside potential government profit. He proposed a mintage of at least 10,000 collectors' sets (through which the coin would be exclusively available), due to increased collector demand for a newly introduced coinage such as the New Zealand pound. [10]