This article concerns the banknotes of the New Zealand dollar
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Prior to 10 July 1967, the New Zealand pound, using the £sd system, was the main currency of New Zealand. Since 1934, banknotes of the New Zealand pound were issued by the Reserve Bank of New Zealand, and came in denominations of 10s, £1, £5, £10, and £50.
Decimalisation of the New Zealand currency occurred on 10 July 1967, when the New Zealand pound was replaced by the New Zealand dollar at a rate of one pound to two dollars (10 shillings to a dollar). On the same day, new decimal banknotes were introduced to replace the existing pound banknotes, in denominations of $1, $2, $5, $10, $20, and $100.
These first decimal banknotes all featured a portrait of Queen Elizabeth II, the Queen of New Zealand, on the obverse. The reverse featured a native New Zealand bird and a native New Zealand plant. The colour scheme on all but the $5 note (which was an entirely new denomination, worth £2 10s) remained the same on equivalent pound and dollar notes to ease the transition (e.g. £10 and $20 were both green).
The second issue of New Zealand dollar banknotes occurred in 1981, when the Reserve Bank changed printer. As a result, the new notes were slightly different from their predecessors. The most notable change was to the portrait of the Queen, which had been updated, and was now facing forward, not to the left.
In 1983, a $50 banknote was introduced to fill the long gap between the $20 note and the $100 note.
In 1991, all the banknotes except the $1 and $2 notes were redesigned. The new series featured notable New Zealanders on the obverse, with the exception of the $20 note, which still featured the Queen, while the reverse sides were redesigned to incorporate a natural New Zealand scene, with a native New Zealand bird in the foreground.
A notable feature of this series was the inclusion of the portrait of Sir Edmund Hillary on the obverse of the $5 note. Hillary was one of the few living non-heads of state to ever feature on a banknote in the world, and this remained true until his death on 11 January 2008.
Also in 1991, the existing $1 and $2 notes were withdrawn after $1 and $2 coins were introduced the previous year.
In 1999, New Zealand changed from paper banknotes to polymer banknotes. The change increased the life of the banknotes fourfold, and also allowed new and improved security features to prevent counterfeiting. The overall design of the notes remained unchanged albeit for slight modifications for the new security features.
In 2000, a commemorative $10 note was issued for the new millennium.
In July 2011, the Reserve Bank of New Zealand announced a new issue of banknotes will be released for circulation from 2014. The new issue will use the same basic designs as the third and fourth note issues, but the overall look will be refreshed and the security features will be upgraded. [1][2]
These banknotes are in regular circulation as of January 2009.
| Value | Dimensions | Main Colour | Description | Date of issue | ||
|---|---|---|---|---|---|---|
| Obverse | Reverse | Watermark | ||||
| $5 | 135 × 66 mm | Orange | Sir Edmund Hillary Aoraki/Mount Cook |
Hoiho (Yellow-eyed Penguin) Campbell Island scene |
Queen Elizabeth II | 1999 |
| $10 | 140 × 68 mm | Blue | Kate Sheppard White camellia flowers |
Whio (Blue Duck) River scene |
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| $20 | 145 × 70 mm | Green | Queen Elizabeth II New Zealand Parliament Buildings |
Karearea (New Zealand falcon) New Zealand alpine scene |
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| $50 | 150 × 72 mm | Purple | Sir Apirana Ngata Porourangi Meeting House |
Kōkako (Blue wattled crow) Conifer broadleaf forest scene |
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| $100 | 155 × 74 mm | Red | Lord Rutherford of Nelson Nobel Prize medal |
Mohua (Yellowhead) Beech forest scene |
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Due to changes in printer, designs, and base material, there have been several designs on New Zealand banknotes. With the exception of the demonetised $1 and $2 notes, all decimal notes are still legal tender, although it is rare to see them in regular circulation.
| Image | Value | Dimensions | Main Colour | Description | Date of | Remarks | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Obverse | Reverse | Obverse | Reverse | Watermark | Issue | Withdrawal | ||||
| $1 | 140 × 70 mm | Brown | Queen Elizabeth II | Piwakawaka (New Zealand fantail) New Zealand clematis |
Captain James Cook | 10 July 1967 | 1991 | |||
| 1981 | ||||||||||
| $2 | 145 × 72.5 mm | Mauve | Titipounamu (Rifleman) Mistletoe |
10 July 1967 | ||||||
| 1981 | ||||||||||
| $5 | 150 × 75 mm | Orange | Tui Kowhai |
10 July 1967 | still legal tender | |||||
| 1981 | ||||||||||
| 135 × 66 mm | (as today) | (as today) | (as today) | 1992 | Paper version of today's note | |||||
| $10 | 155 × 77.5 mm | Blue | Queen Elizabeth II | Kea Mount Cook lily |
Captain James Cook | 10 July 1967 | ||||
| 1981 | ||||||||||
| 140 × 68 mm | (as today) | (as today) | (as today) | 1992 | Paper version of today's note | |||||
| $20 | 160 × 80 mm | Green | Queen Elizabeth II | Kereru (wood pigeon) Miro |
Captain James Cook | 10 July 1967 | ||||
| 1981 | ||||||||||
| 145 × 70 mm | (as today) | (as today) | (as today) | 1992 | Paper version of today's note | |||||
| $50 | 160 × 80 mm | Orange/Mango | Queen Elizabeth II | Morepork (ruru) Pōhutukawa |
Captain James Cook | 1983 | ||||
| 150 × 72 mm | Purple | (as today) | (as today) | (as today) | 1992 | Paper version of today's note | ||||
| $100 | 160 × 80 mm | Crimson | Queen Elizabeth II | Takahe Pekapeka (mountain daisy) |
Captain James Cook | 10 July 1967 | ||||
| 1981 | ||||||||||
| 155 × 74 mm | Red | (as today) | (as today) | (as today) | 1992 | Paper version of today's note | ||||
In October 1999, a commemorative $10 note was issued for the new millennium. The note demonstrated the security features that were possible with polymer banknotes, which were being introduced into general circulation at the time.
| Image | Value | Dimensions | Main Colour | Description [3] | Date of issue | |||
|---|---|---|---|---|---|---|---|---|
| Obverse | Reverse | Obverse | Reverse | Watermark | ||||
| $10 | 140 × 68 mm | Blue | The Journey - Socially and Technologically A Māori waka to represent the Māori migration to New Zealand around 1000 AD; binary digits and satellite dish to represent the digital age |
The Kiwi Spirit - A Sense of Adventure Several images representing the Kiwi lifestyle |
A Māori carved face | October 1999 | ||
New Zealand's banknotes incorporate many security features to prevent counterfeiting. The use of polymer makes the current series of banknotes very difficult and expensive to counterfeit due to the vast array of security features.
Some of the security features are:
The Reserve Bank accepts all New Zealand currency for payment at face value. This applies to all demonetised or withdrawn currency, however such currency need not be accepted by money changers as this is no longer legal tender. All decimal notes are legal tender except $1 and $2 notes as these have been withdrawn.
Damaged notes are still usable so long as they are recognisable. In particular, the legibility of the note's serial numbers is important. The Reserve Bank website notes that as a rule of thumb if there is more than half a bank note they will pay its full value. In practise banks may pay a quarter of the value for every visible denomination figure on the note, of which there are four. For instance, if a $5 note is ripped in half vertically, two "5" symbols will still be visible on each half, and the amount exchanged will $2.50 for each. To receive payment people can return in the note to any commercial bank or the Reserve Bank in Wellington.[4]
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