NEW ZEALAND COINAGE

Taranaki Daily News, 24 January 1934, Page 9

NEW ZEALAND COINAGE

SIXPENCES COMING NEXT.

DESIGNS OF OTHER COINS. Sb far the only coin of the new series of Dominion silver coins to appear in circulation is the new familiar halfcrown. Much interest has been evinced in the nature of the designs of the other coins of the series, and it appears that curiosity on that matter will shortly be set at rest. Half-crowns to the value of £250,000 reached the Dominion about the end of November, and went immediately into the circulation. The next shipment, consisting of sixpences, to the value of £200.000, is expected to reach New Zealand from the Royal Mint in about a fortnight. The main feature of the sixpenny design, it is understood, is to be a tui. The twoshilling piece will bear a kiwi, the shilling a Maori warrior brandishing a taiaha, and the threepenny bit two meres crossed. All will be carried out’ with the same fineness of workmanship that characterises the new half-crown. The official estimate is that about 40,000,000 new silver coins will be required to replace all those now in circulation in the Dominion. After careful inquiry the order for the different denominations of coins was based on the calculation that in every £lOO worth of silver coins there is £35 worth of halfcrowns, £3O of florins, £l5 of shillings, £lO of sixpences and £lO of threepences. When the first shipment of each of the new coins has been received their total value will be over £700,000. The same cycle will be repeated, twice if necessary, until the banks are satisfied that the people hold only new coins, and until the banks’ reserve stocks are restored to the normal level.