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New Coins
NZ’s new coins: spend, save, covet or collect?
The old 10, 20, 50 and 5 cent coins are no longer legal tender (from 1 November 2006). This means that retailers do not have to accept them for payment of goods. But the old coins will always be redeemed by the Reserve Bank in Wellington.
On 31 July 2006, New Zealand’s 50c, 20c and 10c coins were replaced with smaller, lighter versions and the 5c coin was phased out. It’s the first change to these coins since the country switched to decimal in 1967. 140 million new 10c coins have been minted, along with 50 million 20c and 40 million 50c coins. They’ll be made of plated steel instead of the copper and nickel mix of their predecessors.
You can also explore the changes in detail at the Reserve Bank of New Zealand’s New Coins site.
Christchurch City Libraries can help you put the new coins to good use with our extensive resources:
SPEND pay out (money)
When you’ve gathered enough coins together, we can help with lots of ideas on how to spend them! Our recreation pages will point you in the right direction if you’re looking to invest in a hobby or interest, or check out our home decorating, car, travel or fashion resources. If your spending is getting out of control, you could probably use some help from our books about compulsive shopping.
SAVE keep for future use, relieve (person) from spending
If you’re thinking of investing some of your hard-earned cash, take a look at our investing resources, including sources of advice, useful books and magazines, suggested websites and tips on where to find the latest market information. We’ve also got plenty of useful books on saving and investment.
COVET desire greatly (esp. thing belonging to another person)
If you’re dreaming about leading the life of the rich and famous, you could immerse yourself in fiction about rich people or read about the lives of millionaires! You can also take a look around other people’s lavish holiday homes or get over any ideas of robbing a bank by finding out how other people have been caught and locked up!
COLLECT accumulate; seek and acquire
Finally, you may choose the safe option and put aside a few bright new coins for your coin collection. Check out our resources for coin collectors as well as our books on the history of coins. Our Hobbies page has more helpful information on making the most of your interest. You can also use CINCH – Christchurch’s one-stop source for community information – to find out about local groups of collectors, people with a passion for the same interests as you.
