2006: 5 Cent Coin Abolished
November 1, 2023
By AHNZ
The New Zealand 5 cent coin was abolished on 1 November, 2006.
It had existed since decimilisation on 10 July 1967. Ref. 1967: Decimalisation, AHNZ
New Zealand’s currency has become so weak that 5 cents no longer had any purchasing power so getting rid of the coin was an admission and symbol of this economic decline. It’s a Red Flag we blew right by that our economy is a sick man whose blood (money) is running thin.
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Image ref. ngccoin.com
2 thoughts on "2006: 5 Cent Coin Abolished"
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Anarchist History of New Zealand: I would a thousand times rather be right today than consistent for years and years."- Thomas Wilford, 1912 as the Liberal Era ended
Before decimal currancy the price of petrol was a very politically sensitive issue, any rise in price for example threepence a gallon was headline news in our newspapers.
At the pump we bought our petrol by the gallon.
When decimal currancy was introduced most of us were confused by the new order and found it easier to just push the dollar button rather than try to convert to litres and even today I buy petrol by the dollar and so that in my opinion was the start of inflation in NZ.
Oh yes, it will have been a part of the story. Bit of Keynesian wool-over-the-eyes trick to fool the Muggles for a wee bit at the end of the 60s so Rob’s budget could work slightly better for 10 seconds.