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Changes to New Zealand's 'Silver' coins?

Wed, 26 Jan 2005

Reserve Bank of New Zealand

26 January 2005

Changes to New Zealand's 'Silver' coins?

The Reserve Bank today reminded the public, that the close off date for feedback on the Bank's proposals to modernise New Zealand's 'silver' coloured coins is 4 February 2005.

The Bank's proposals announced in November 2004 are:

* the current 50, 20 and 10 cent coins would be made smaller, and of a lighter and lower-cost plated steel; and * the 5 cent coin would be taken out of circulation.

The Reserve Bank emphasised that no decisions have been made and if changes are to occur, they will be implemented in mid-2006.

Analysis of the public feedback will be undertaken by a third party and the Bank expects to make final decisions in late March 2005.

For more information on the proposals visit the Bank's website (www.rbnz.govt.nz/silvercoin). Feedback can be provided by emailing silvercoin@rbnz.govt.nz by 4 February 2005 or by writing to:

Silver Coin Review Reserve Bank of New Zealand P O Box 2498 Wellington

ENDS

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