New zealand coin currency
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New Zealand has had an official currency for about years. Here is a brief history of our notes and coins. A variety of foreign coins and notes are used around New Zealand before British currency becomes legal tender in A penny bearing the legend "New Zealand" is made, but it isn't known who made it.
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Coins in circulation
New Zealand dollar - Wikipedia
This meant that certain sections of the Imperial Coinage Act, UK became relevant to the new colony. This allowed for the standard gold, silver and bronze British coins to circulate freely in New Zealand alongside the existing variety of foreign coins. British coins were made legal tender in terms of the above act by the passing of the English Laws Act in In the s and s there was an extreme shortage of coins, especially copper coins. Traders tried the issue of low value paper notes to remedy this situation but this was soon abandoned. Instead, as this shortage intensified throughout the s, businesses in Auckland and Dunedin decided to issue their first copper tokens in In all, 48 traders mostly retailers issued their own penny and half-penny tokens.
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The history of coins in New Zealand
The front of a coin or 'heads' is called the obverse. The edge of the coin is the thin strip between the two sides of the coin. The texture, feel or pattern on the edge of a coin is called the edge treatment.
This article concerns the coins of the New Zealand dollar. Coins of the pound tend to follow the size, weight, and composition of their British counterparts. Decimalisation of the New Zealand currency occurred on 10 July , 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.