1990: One and Two-cent Coins Withdrawn
April 30, 2024
By AHNZ
Today in history, 30 April, 1990, one and two-cent coins were withdrawn from legal tender. They had existed since decimilisation on 10 July 1967
The value of government fiat currency was now so inflated that these lowest denominations now had no meaning. The 5 cent coin was to follow in 2006.
It will be interesting to see how much longer the New Zealand ten-cent coin survives. Can’t buy much with it in the 2020s.
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Image ref. Cyber Coins and Banknotes, Ebay
Ref. 1966: Decimal Coins, AHNZ
Ref. 2006: 5 Cent Coin Abolished, AHNZ
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Anarchist History of New Zealand: Laws are like spiders webs which, if anything small falls into them they ensnare it, but large things break through and escape.- Solon
