10 July 1967 Fifty years of decimal currency

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Forums › Finance and wealth management › 10 July 1967 Fifty years of decimal currency

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#1818947 10-Jul-2017 15:54

I still remember the early 90's, the 1 cent lollies at the dairies, and you could get a huge bag for $1. Guessing they weren't cheap imported lollies either, like they can be these days.

Aredwood

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#1819000 10-Jul-2017 17:50

Plumbing pipes and fittings are often still described in imperial measurements. As NZ plumbing standards are based on British standards. Both the diameters and the thread standards.

JimmyH

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#1819017 10-Jul-2017 18:17

Some stuff I am looking at importing from the US for a bit of DIY I want to do will (if I get it) require me to get some drill bits and hole cutters in imperial sizes. The tolerances are tight, and metric "close enough" kit apparently won't do.

I can remember being yelled in front of the whole third-form woodwork class by the teacher when I said I needed to trim about three-sixteenths of an inch off something to make it fit. Apparently only metric was acceptable. What can I say ..... I used to do a bit of carpentry with my granddad as a kid. That's how I was used to sizing things.

old3eyes

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#1819018 10-Jul-2017 18:22

One of my spare time hobbies is helping restoring trams at MOTAT. As these were all built before 1950 they're all imperial measurements. It's a real pain trying to do these measurements.

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Old3eyes

blakamin

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#1819019 10-Jul-2017 18:22

richms:

old3eyes:

The only time I use imperial measurements is for screen sized in inches..

Wheels, speakers, other things where they are a set size based on the legacy measurements are best described in those measurements since it is a whole number (ish) - know one knows the actual size of their 6 inch midrange and 12 inch woofer unless you are making the box for them.

Wheels are interesting... Measured in inches, but tyres are even better.... Millimetres and percentages AND inches. And then speed rated in Km/h.

Rikkitic

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#1819024 10-Jul-2017 18:41

Let us all hold a moment of silence for that poor spacecraft that cost so many millions by either measure as it smashed into Mars while trying to figure out whether it was navigating in metric or imperial.

Plesse igmore amd axxept applogies in adbance fir anu typos

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richms

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#1819065 10-Jul-2017 19:10

JimmyH:

Some stuff I am looking at importing from the US for a bit of DIY I want to do will (if I get it) require me to get some drill bits and hole cutters in imperial sizes. The tolerances are tight, and metric "close enough" kit apparently won't do.

Bunnings has heaps of imperial holesaws - they are labeled with the mm in large writing that the inches convert to, but they have the actual inch measurement on them as well. That is why they dont have a 60, 80, or other useful sizes.

Richard rich.ms

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#1819071 10-Jul-2017 19:20

The old florins (same size as 20c) used to appear frequently even after 2k. Maybe someone had a massive stash of them.

The sixpence (same size as 5c) were less frequent and hardly ever appeared by the time of the 2006 update.

Amazing they were still appearing at all.

DarthKermit

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#1819074 10-Jul-2017 19:22

I assume that the trading banks systematically removed these old coins out of circulation, when they had a hold of them.

Fred99

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#1819182 10-Jul-2017 21:05

DarthKermit:

I assume that the trading banks systematically removed these old coins out of circulation, when they had a hold of them.

Pre 1946 florins contained silver worth about NZ $4 at current market price and exchange rate.

Face value of the coin, adjusted to inflation since 1967, would have only been $3.52.

Some canny investor would have been on a real winner there, if they'd accumulated a few million of them and had 50 years worth of free warehousing.

I wonder what a bitcoin will be worth in 50 years?

Fred99

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#1819183 10-Jul-2017 21:09

richms:

JimmyH:

Some stuff I am looking at importing from the US for a bit of DIY I want to do will (if I get it) require me to get some drill bits and hole cutters in imperial sizes. The tolerances are tight, and metric "close enough" kit apparently won't do.

Bunnings has heaps of imperial holesaws - they are labeled with the mm in large writing that the inches convert to, but they have the actual inch measurement on them as well. That is why they dont have a 60, 80, or other useful sizes.

But despite that, Bunnings have never had the size of hole-saw I needed to suit fittings I'd bought from Bunnings.

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robjg63

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#1819243 10-Jul-2017 22:34

trig42:
I saw something on the herald website - must have been a picture from the day it came in- looked like a guy handing over $2 for a taxi ride. In 1967, that $2 would have got you a very long trip in a taxi i'd have thought.

http://www.rbnz.govt.nz/monetary-policy/inflation-calculator
$2.00 in 1967 = $35.15 or there abouts based on CPI changes.

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evilengineer

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#1819501 11-Jul-2017 11:50

I sure there was a debate back in the day.

But its a shame nobody came up with a better name than "Dollar" for the shiny new decimalised currency. :-)

MikeAqua

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#1819507 11-Jul-2017 12:05

evilengineer:

I sure there was a debate back in the day.

But its a shame nobody came up with a better name than "Dollar" for the shiny new decimalised currency. :-)

I'm guessing NZ wanted the new currency to sound solid and anglophonic. We had only been an autonomous country for 20 years and probably didn't want to seem like a banana republic by having the kiwi or similar as our currency.

It couldn't be a pound like Britain (that's what the pre-decimal currency was called), so that left dollar as per US, Canada and (recently decimalised) Aussie.

Mike

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#1819547 11-Jul-2017 13:04

evilengineer:

I sure there was a debate back in the day.

But its a shame nobody came up with a better name than "Dollar" for the shiny new decimalised currency. :-)

Oh there were all sorts of wanky names put forward. Thank goodness logic prevailed and we went Dollars and cents..

Regards,

Old3eyes

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