Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Dig out your old coins - three weeks to go


Reserve Bank of New Zealand

10 October 2006, 9.30 am

Dig out your old coins - three weeks to go

With three weeks to go, the Reserve Bank and the Retailers Association are encouraging people to dig out their old 50, 20, 10 and 5 cent coins.

To date just over 270 million old coins have found their way back to the Reserve Bank - mainly through people using them, or banking them, said Reserve Bank Currency Manager, Brian Lang.

"But there are more out there. Since 1967 the Reserve Bank has issued more than a billion of the old 'silver' coins and it is estimated the average household had an astonishing 185 old coins before we introduced the new coins."

>From 1 November 2006, the old 50, 20, 10 and 5 cent coins will no longer be legal tender, which means retailers do not have to accept them as payment for goods.

"As part of the transition process, we are encouraging our members to stop giving out old coins as change," says John Albertson, Chief Executive of the New Zealand Retailers Association.

So if you don't want to be stuck with loads of old coin - there's never been a better time to empty your coin jars, sweep the car glove box and rummage behind the couch cushions.

Ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Auckland: Quarterly Update: Rents Stable During Third Quarter

The average weekly rent for a home in Auckland moved less than $1 during the third quarter, ending 30 September at $606.25, according to data from more than 16,000 rental properties managed by Barfoot & Thompson... More>>



Electricity Authority: Review Of Competition In The Wholesale Electricity Market Raises Questions

In March 2021 the Electricity Authority announced it would conduct a review into competition in the wholesale electricity market. The period of the review covers the sustained elevated electricity prices since an unplanned outage at the Pohokura gas facility in Spring 2018... More>>


Government: RSI ‘State Of The Nation’ Report Published
latest research, science and innovation system report card is now available, and outlines how the system is performing, Research, Science and Innovation Minister Megan Woods has announced. “The report seeks to increase transparency, act as a reliable data source and stimulate discussion... More>>


LAWA: New Zealand Lakes Are Diverse In Their Condition And Type

Freshwater scientists have come together through the Land, Air, Water Aotearoa (LAWA) project to summarise the condition of New Zealand’s monitored lakes. They have found a varied picture of lake condition... More>>



Pamu & Westpac: Market-leading Sustainability-Linked Loan

Westpac NZ and Pāmu have signed New Zealand’s most comprehensive Sustainability-Linked Loan to date, also the largest in the agricultural sector, and the first involving a state-owned enterprise. Pāmu, also known as Landcorp, is New Zealand’s biggest farming business. It will borrow $85m from Westpac NZ over three years... More>>


Retail NZ: Some Good News In COVID Announcements, But Firm Dates Needed

Retail NZ is welcoming news that the Government is increasing financial support for businesses in light of the ongoing COVID-19 lockdown, and that retail will be able to open at all stages of the new “Covid Protection Framework... More>>