Central Banking

Changes to New Zealand's 'silver' coins

The Reserve Bank of New Zealand announced on Thursday 31 March its decisions to modernise New Zealand's silver-coloured coins.

After extensive research and careful consideration of the issues, the Reserve Bank said it had decided to follow through with its proposals announced in November last year.

The decisions are:

the current 50, 20 and 10 cent coins will be made smaller, and of lighter and lower-cost plated steel; and

the 5 cent coin will be taken out of circulation.

The $1 and $2 coins will