Why Half-Penny Was Dropped
Controversy had raged over the possible inclusion of a half-penny or half-cent in NewZealand’s decimal coinage system, and the Decimal Currency Board had finally decided against it, the official speaker for the board in Christchurch (Mr 0. R. Haddock), told a housewives’ seminar in Christchurch yesterday.
Housewives and retailers, called together by the board to discuss the issue, had agreed that nowadays the penny had hardly any purchasing power and the halfpenny less. Why mint a new coin which had no practical value? asked Mr Haddock.
The Post Office would issue half-cent stamps and two and a half cent stamps and these would be the only half-cent units.
Throughout New Zealand post offices handled 550 million letters and 323 million stamps every year, and a halfcent stamp was essential to ensure the stability of the present postal rates. When the change arrived, sixpences would be accepted indefinitely as five-cent pieces because of their exact conversion. Threepences would revert to two cents.
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Press, Volume CVI, Issue 31224, 23 November 1966, Page 2
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165Why Half-Penny Was Dropped Press, Volume CVI, Issue 31224, 23 November 1966, Page 2
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