Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Royal Canadian Mint selected to mint coins

Reserve Bank of New Zealand

News Release

Royal Canadian Mint selected to mint coins

The Reserve Bank announced today that it has selected the Royal Canadian Mint to mint New Zealand's new low-value coins.

"After a rigorous tender process the Bank is confident that the Royal Canadian Mint will be able to manufacture high quality coins for New Zealand," commented Brian Lang, Reserve Bank Currency Manager.

"The Canadian Mint impressed the Bank with their quality of coins, in particular their durability and their electromagnetic signature, which is important for the vending industry. The Mint has an excellent reputation and extensive experience in making plated steel coins for Canada."

On 31 March 2005, the Reserve Bank announced its decision to modernise New Zealand's silver coloured coins. The decisions are to make the current 50, 20, 10 cents coins smaller and of lighter, lower cost plated-steel, and to remove the 5 cent coin from circulation. The $1 and $2 coins will be retained, as will the existing images on the 50, 20 and 10 cent coins, including that of the Queen.

"The changes to New Zealand's silver coins will give New Zealand a coherent and logical set of coins that will be more convenient for the public, easier for those handling coin in bulk, such as banks and security firms, and less costly to manufacture, saving the taxpayer approximately $2 million annually," commented Brian Lang.

"These are important changes that will affect everyone in New Zealand. They will bring major benefits to the users of coins - the general public - as well as businesses involved in handling cash and their staff."

The Reserve Bank plans to issue the new coins in July 2006. The Reserve Bank is working closely with banks, security companies, vending machine suppliers, retailers and community groups to ensure a smooth transition.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>

ALSO:

Corrections Corrected: Supreme Court Rules On Release Dates

Corrections has always followed the lawful rulings of the Court in its calculation of sentence release dates. On four previous occasions, the Court of Appeal had upheld Corrections’ practices in calculating pre-sentence detention. More>>

ALSO:

Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>

ALSO:

General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Gordon Campbell: On Our Posturing At The UN

In New York, Key basically took an old May 2 Washington Post article written by Barack Obama, recycled it back to the Americans, and still scored headlines here at home… We’ve had a double serving of this kind of comfort food. More>>

ALSO:

Treaty Settlements: Bills Delayed As NZ First Pulls Support

Ngāruahine, Te Atiawa and Taranaki are reeling today as they learnt that the third and final readings of each Iwi’s Historical Treaty Settlement Bills scheduled for this Friday, have been put in jeopardy by the actions of NZ First. More>>

ALSO:

Gordon Campbell: On The Damage De-Regulation Is Doing To Fisheries And Education, Plus Kate Tempest

Our faith in the benign workings of the market – and of the light-handed regulation that goes with it – has had a body count. Back in 1992, the free market friendly Health Safety and Employment Act gutted the labour inspectorate and turned forestry, mining and other workplace sites into death traps, long before the Pike River disaster. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news