Story: Coins and banknotes

In 2006 the 5-cent coin was withdrawn from circulation because it cost more to produce than it was worth. By then, New Zealand's coins were among the largest and heaviest in the world, so the 10, 20 and 50-cent pieces were made smaller and lighter as both a cost-cutting and modernisation exercise. The newer coins (at left) are made from plated steel – the old coins were cupro-nickel.