New Zealand ten-cent coin

Ten cents
New Zealand
Value 0.10 New Zealand dollars
Mass 3.30 g
Diameter 20.5 mm
Thickness 1.58 mm
Edge unmilled
Composition Copper-plated steel
Years of minting 2006–present
Catalog number -
Obverse
Design Queen Elizabeth II
Designer Ian Rank-Broadley
Design date 1999
Reverse
Design A Māori carved mask or koruru with Māori rafter patterns
Designer Reginald George James Berry
Design date 1967

The New Zealand ten-cent coin is the lowest-denomination coin of the New Zealand dollar. The 10-cent coin was introduced when the New Zealand dollar was introduced on 10 July 1967, replacing the New Zealand shilling coin. In 2006 its size was reduced as part of a revision of New Zealand's coins, which also saw its alloy become copper-plated steel.

Due to inflation, the purchasing power of the ten-cent coin continues to decrease. As of 1 April 2018, it represents 0.61% country's minimum hourly wage for workers age 16 or over.[1]

Design

1967 to 2006

On 10 July 1967, New Zealand's former pre-decimal pound currency, pegged to the British pound, was changed to a decimal dollar at a rate of two dollars to a pound. Therefore, 10 cents was worth a twentieth of a pound. The 10-cent coin replaced the shilling coin.

The coin was made of cupronickel, 23.62 mm in diameter, and weighed 5.66 grams. It included the word "shilling" for the years 1967, 1968 and 1969; this was dropped in 1970.

2006 onwards

On 31 July 2006, the new 10-cent coin was released alongside the new 20-cent and 50-cent coins as part of the Reserve Bank's "Change for the better" silver coin replacement. The new 10-cent coin had the same reverse as the 1967 to 2006 minted coins and the same obverse as the 1999-onward coins, but the coins were reduced in size. The new 10-cent coins are made of steel, plated with copper. The new coins are 20.5 mm in diameter and 3.30 grams in weight. They have unmilled edges.[2]

The old 10-cent coins were demonetised on 1 November 2006.

See also

References

  1. ↑ "Minimum wage". New Zealand Government. Retrieved 2018-08-01.
  2. ↑ http://www.rbnz.govt.nz/notes_and_coins/coins/0101459.html
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.