SILVER COINAGE TO GO
Cupro-Nickel For Use In N.Z.
ANNOUNCEMENT BY MR NASH (From Qur Parliamentary Reporter.) WELLINGTON, July 23. A decision to replace gradually <he present silver coinage in New Zealand by cupro-nickel was announced topight by the Minister of Finance (Mr W. Nash). The new coins will be 75 per cept. copper and 25 per cent, nickel.
The reason given for the change is that since 1939 the price of silver has almost doubled and to continue making the present coins, which are 50 per cent, silver, would eptail a great deal of extra cost.
The new coins are considered to be aesthetically and practically just a? attractive as the present ones, which, aL though called “silver,” are of an alloy. Cuprp-pickel coinage has already been adopted in the United KingdomThe New Zealand coinage will not be withdrawn from circulation all at once but only as suppies of cupro-nickel coins come to hand from the Royal Mint. The first supplies are expected towards the end of this year.
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Bibliographic details
Press, Volume LXXXIII, Issue 25244, 24 July 1947, Page 6
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170SILVER COINAGE TO GO Press, Volume LXXXIII, Issue 25244, 24 July 1947, Page 6
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