15 March 2024 – The Reserve Bank of New Zealand – Te Pūtea Matua has confirmed that New Zealand’s circulating and commemorative coins will bear the Commonwealth effigy (image) of King Charles III, King of New Zealand.
Ian Woolford, Director of Money and Cash – Tari Moni Whai Take, said that the King had recently approved application of the effigy, designed for the Royal Mint by Dan Thorne, to all New Zealand’s current circulating coin designs. The King faces to the left in keeping with the convention that the direction changes between sovereigns.
“While it’s unlikely that New Zealanders will see the new effigy in their change until 2027,” Mr Woolford said, “it will be seen on our legal tender coins for the first time with the 2024 proof currency set to be produced by NZ Post under licence from the Reserve Bank.
“The first circulating coin to bear the new effigy will likely be the 10-cent piece, with an expected minting date of 2025. The first mintings of the other four denominations with the new image are likely to be in 2027. Coins typically enter circulation about two years after production.
“These anticipated timings are based on typical demand and stock levels, which are kept sufficient to deal with any demand spikes or supply chain issues.
“The new coins will have the same physical characteristics as those bearing the effigy of the late Queen Elizabeth II. We will not be withdrawing any existing coins in circulation, and these will remain legal tender.
“We will update on circulation dates as the time nears, and we’ll also work with cash handling machine manufacturers to confirm that there are no glitches with acceptance of the new coins,” Mr Woolford said.
An interim New Zealand effigy of the King, by Wellingtonian Stephen Fuller, was approved by the King to appear on legal tender coins in 10 commemorative coin issues by, or in production for, NZ Post under licence from the Reserve Bank.
More information
Read our media release – The Queen and the King on New Zealand’s currency https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=8f7d97c226&e=f3c68946f8
Coins in circulation https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=e37e385a1d&e=f3c68946f8
