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Topic # 165489 11-Feb-2015 15:05
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For those who've not caught up with the news, the Reserve Bank is it is releasing 1,000,000 coloured (black and white on top of the normal 'silver') 50c commerative coins into circulation in March. (Reserve Bank - Anzac circulating commemorative coin )

I think it is a very smart looking coin


But I wonder how many will stay in circulation, and how easy they will be to get your hands on. Or how quickly they will all disappear into the hands of collectors and speculator...

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  Reply # 1235733 11-Feb-2015 15:28
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According to the Reserve Bank website, as of October 2014 there have been 98,200,000 new style 50 cent coins minted. Assuming that no other 50 cent coins have been minted since then, and assuming that all those 50 cent coins are still in circulation, then you "should" have about a 1% chance for any coin you receive to be in the ANZAC style, if all things are equal. It will probably be bit higher chance though, as I would assume a lot of those already minted coins will be out of circulation. Also, it will vary depending on how you intend to acquire the coins.

As for my opinion on the coin, I like it.

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  Reply # 1235750 11-Feb-2015 15:42
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I like the design and I like the idea.




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  Reply # 1235753 11-Feb-2015 15:52
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That looks awesome! I want one.

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  Reply # 1235761 11-Feb-2015 16:11
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cant remember the last time i had any coins in my wallet, no need for them. could be a while before i see it , but i do want one .




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  Reply # 1235773 11-Feb-2015 16:18
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For those eager to get your hands on one, according to http://www.rbnz.govt.nz/notes_and_coins/anzac-coin/Index.html (the link in the original post)...

"The coin will be available in New Zealand Post/Kiwibank stores from 23 March, 2015 and will be sold at ‘face value’ – 50 cents."

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  Reply # 1235774 11-Feb-2015 16:21
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People will try sell these on Trade Me for stupidly high prices, it's a good thing a decent amount are being made.







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  Reply # 1235778 11-Feb-2015 16:25
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Are you allowed to sell them for more than face value as they are legal tender?




Mike
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Using empathy takes no energy and can gain so much. Try it.

 

 


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  Reply # 1235780 11-Feb-2015 16:29
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KiwiNZ: Are you allowed to sell them for more than face value as they are legal tender?
You must be able to. They make other commemorative coins which are legal tender for a nominal amount (say, $2) but are made from rare metals so have a much higher value, and are sold at that price point.

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  Reply # 1235783 11-Feb-2015 16:32
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I purchased some coins a while back and got an email yesterday to pre-order these ones (which Ive done). A roll of 20 is $10 (duh!)

They also have a commemorative packaging (1 coin) for $10.

Im sure Im not the only one who got the email.

I suspect out of the 1 million minted a good proportion wont get into general circulation.

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  Reply # 1235784 11-Feb-2015 16:34
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SirHumphreyAppleby: For those eager to get your hands on one, according to http://www.rbnz.govt.nz/notes_and_coins/anzac-coin/Index.html (the link in the original post)...

"The coin will be available in New Zealand Post/Kiwibank stores from 23 March, 2015 and will be sold at ‘face value’ – 50 cents."


Totally sux for me... I live in Adelaide.

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  Reply # 1235786 11-Feb-2015 16:34
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Disrespective:
KiwiNZ: Are you allowed to sell them for more than face value as they are legal tender?
You must be able to. They make other commemorative coins which are legal tender for a nominal amount (say, $2) but are made from rare metals so have a much higher value, and are sold at that price point.


Are those coins in general circulation? The ANZAC coins are commemorative but they are also general circulation coins.




Mike
Retired IT Manager. 
The views stated in my posts are my personal views and not that of any other organisation.

 

Using empathy takes no energy and can gain so much. Try it.

 

 


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  Reply # 1235788 11-Feb-2015 16:38
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KiwiNZ:
Disrespective:
KiwiNZ: Are you allowed to sell them for more than face value as they are legal tender?
You must be able to. They make other commemorative coins which are legal tender for a nominal amount (say, $2) but are made from rare metals so have a much higher value, and are sold at that price point.


Are those coins in general circulation? The ANZAC coins are commemorative but they are also general circulation coins.


Good question. I have several coins from Hobbit/Lord of The Rings. I think they are 20c, 50c and $1 but obviously worth more than that. They are not general circulation.

I believe these are the first commemorative coins to go into general circulation.

Confirmed, email from NZ Post says New Zealand’s first-ever commemorative circulating coin

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  Reply # 1235790 11-Feb-2015 16:40
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tchart: I purchased some coins a while back and got an email yesterday to pre-order these ones (which Ive done).


Where did you pre-order from?







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  Reply # 1235791 11-Feb-2015 16:41
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Are those coins in general circulation? The ANZAC coins are commemorative but they are also general circulation coins.


Most coins cost more than their face value to produce. Fortunately, not so much more that you can melt them down and make a profit, although I believe that has happened with gold coins released for circulation in other countries.

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  Reply # 1235798 11-Feb-2015 16:55
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solaybro:
tchart: I purchased some coins a while back and got an email yesterday to pre-order these ones (which Ive done).


Where did you pre-order from?


You can order these, and a whole host of other coins, at https://coins.nzpost.co.nz. I've order a couple of rolls of the 50c as a momento. Because they are legal tender they can only be sent by Courier so expect to pay $5 for a courier (best to order a large amount at once).

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