A series of TV ads were used to introduce the concepts to New Zealand viewers. A great deal of work was needed to make the change from imperial currency, including a large publicity campaign. In 1963, New Zealand changed to decimal currency. Both metal types of coins were still considered legal tender. 500 fine silver coins due to the rising costs of mining and the price of silver. These were issued in 1940 at the same time as the New Zealand Centennial. Bronze coins (penny and halfpenny) of British standard were not approved until six years later on 22 December 1939.
About the new coinageīased on a fractional system, the new coins used the same weights, sizes and denominations as the British coins. Instead, in 1933, a unique New Zealand coinage was introduced by the Coinage Act 1933, with British coin no longer legal tender from 1 February 1935. It was decided the country should start issuing banknotes and coins from a single bank, while the New Zealand Numismatic Society suggested adopting a decimal system of coinage. 1933: We get our own currencyīy 1933, it was obvious something needed to be done about coin smuggling and the shortage of lower-value coins. Then in 1920, silver coin was debased from. At the time, British coin was one of two ‘common' currencies, the other being Australian-minted gold sovereign and half sovereign coins.įrom 1914, gold coins gradually started to be withdrawn from circulation. This meant only British coin was the official legal tender in the colony. In 1897, New Zealand's coins became subject to some parts of the Imperial Coinage Act 1870 (UK). Use of these coins gradually declined during the 1880s. In total, 48 traders (mostly retailers) issued coins and continued to do so until 1881. Instead, traders tried issuing low-value paper notes but soon gave up this approach.Įventually, in 1857, a group of Auckland and Dunedin businesses decided to issue their own penny and halfpenny copper tokens. In short supplyĬoins, especially copper coins, were very hard to get in the 1840s and 1850s.
This allowed for the standard British gold, silver and bronze coins to circulate freely in New Zealand alongside a variety of foreign coins. In early 1840, some parts of the Imperial Coinage Act, 1816 (UK) began to apply in New Zealand when the first Governor, Captain William Hobson, RN, extended British laws to the new colony.
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