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The shilling is a historical coin, and the name of a unit of modern currencies formerly used in the United Kingdom, Australia, New Zealand, other British Commonwealth countries and Ireland, where they were generally equivalent to 12 pence or one-twentieth of a pound before being phased out during the 1960s and 1970s.
The Australian dollar is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu. In April 2022, it was the sixth most-traded currency in the foreign exchange market and as of Q4 2023 the seventh most-held reserve currency in global reserves.
The New Zealand dollar is the official currency and legal tender of New Zealand, the Cook Islands, Niue, the Ross Dependency, Tokelau, and a British territory, the Pitcairn Islands. Within New Zealand, it is almost always abbreviated with the dollar sign ($). The abbreviations "$NZ" or "NZ$" are used when necessary to distinguish it from other dollar-denominated currencies.
Decimalisation or decimalization is the conversion of a system of currency or of weights and measures to units related by powers of 10.
Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt.
The Indian rupee is the official currency in India. The rupee is subdivided into 100 paise. The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank manages currency in India and derives its role in currency management based on the Reserve Bank of India Act, 1934.
Decimal Day in the United Kingdom and in Ireland was Monday 15 February 1971, the day on which each country decimalised its respective £sd currency of pounds, shillings, and pence.
The pound was the currency of Australia from 1910 until 14 February 1966, when it was replaced by the Australian dollar. Like other £sd currencies, it was subdivided into 20 shillings, each of 12 pence.
The Jamaican dollar has been the currency of Jamaica since 1969. It is often abbreviated to J$, the J serving to distinguish it from other dollar-denominated currencies. It is divided into 100 cents, although cent denominations are no longer in use as of 2018. Goods and services may still be priced in cents, but cash transactions are now rounded to the nearest dollar.
The pound was the currency of New Zealand from 1933 until 1967, when it was replaced by the New Zealand dollar. Prior to this, New Zealand used the pound sterling since the Treaty of Waitangi in 1840. Like the pound sterling, it was subdivided into 20 shillings each of 12 pence.
The Cook Islands dollar was the former currency of the Cook Islands, which now uses the New Zealand dollar, although some physical cash issued for the Cook Islands dollar remains in use. The dollar was subdivided into 100 cents, with some older 50-cent coins carrying the denomination as "50 tene".
The New Zealand twenty-cent coin is the second-lowest-denomination coin of the New Zealand dollar. The 20-cent coin was introduced when the New Zealand dollar was introduced on 10 July 1967, replacing the New Zealand florin coin. Its original reverse of a kiwi was changed in 1990 when the image was moved onto the one-dollar coin. In 2006 its size was reduced and its edge altered to a Spanish flower as part of a revision of New Zealand's coins, which also saw its alloy become nickel-plated steel instead of cupro-nickel.
The coins of the New Zealand dollar are used for the smallest physical currency available in New Zealand. The current denominations are ten cents, twenty cents, fifty cents, one dollar and two dollars. The $1 and $2 coins are minted in a gold colour, the 20c and 50c coins are silver colour and the 10c coin is plated in copper.
The Australian sixpence circulated from 1910 up until the decimalisation of Australian Currency in 1966. The coins were initially minted in England; however, Australia began to mint their own from the year of 1916 at branches of the Royal Mint in Sydney and Melbourne. The coins which made up Australia's pre-decimal currency were identical to British currency in the characteristics of weight and size. The Coinage Act of 1909–1947, authorised the issue of Australian coins in the select denominations, including the sixpence. By 1916 all silver denominations, including the sixpence, could be minted at the Royal Mint branch in Melbourne. Unique Australian currency was created with decimalisation in 1966.
New Zealand dollar banknotes are the banknotes in circulation in New Zealand, the Cook Islands, Tokelau, Niue and the Pitcairn Islands, denominated in the New Zealand dollar. They are issued by the Reserve Bank of New Zealand and since 1999 have been made of polymer.
The New Zealand one-cent coin, was the smallest denomination coin of the New Zealand dollar from the currency's introduction in 1967 to its demonetisation, along with the two-cent coin, on 30 April 1990. With a diameter of 17.53 millimetres, it is the smallest coin ever issued of the dollar, and at 2.07 grams in mass the lightest as well. Its reverse featured a fern leaf, a sign of New Zealand, associated also with its national rugby union team. The image was designed by Reginald George James Berry, who designed the reverses for all coins introduced that year.
The New Zealand fifty-cent coin is a coin of the New Zealand dollar. It was the largest by denomination, diameter and mass to have been introduced on the decimalisation of the currency on 10 July 1967, replacing the pre-decimal crown coin. A total of 81,585,200 pre-2006 50 cent coins were issued, with a total value of $40,792,600.00
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.
The New Zealand two-cent coin was the second smallest denomination coin of the New Zealand dollar from the currency's introduction in 1967 to its demonetisation, along with the one-cent coin, on 30 April 1990. Its reverse featured two kōwhai flowers, considered emblematic of New Zealand. The image was designed by Reginald George James Berry, who designed the reverses for all coins introduced that year.
The first coinage of the New Zealand pound was introduced in 1933 in response to large-scale smuggling of prior British imperial coinage after devaluation of New Zealand exchange rates relative to the pound sterling and large influxes of other foreign coinage into circulation. The Coinage Act, 1933 outlined the weights and compositions of various denominations, out of which five silver issues entered circulation over the following year, after lengthy disagreement between rival coinage design committees. The copper penny and halfpenny entered circulation in 1940, corresponding to anniversary of the New Zealand centennial. An eighth denomination of coin, the five-shilling piece or crown, was produced solely through three commemorative issues. The first issue, the Waitangi crown, was produced in extremely limited quantities and sold to collectors. Later commemorative crown issues in 1949 and 1953 were produced for circulation.
References
- ↑ "Coin mintings (F4)". Reserve Bank of New Zealand.
- ↑ "The history of New Zealand coins". Reserve Bank of New Zealand. 28 February 2022.
- ↑ "Five Cents from New Zealand". Online Coin Club.
- ↑ Archived at Ghostarchive and the Wayback Machine : The New Zealand Five Cent Coin. YouTube .