What to do with old coins?

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sidefx

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Topic # 236100 17-May-2018 20:14

I recently found a couple of 25 odd year old piggy banks in my garage. They're mostly full of 5 cent coins (no longer legal tender) and lots of the old big 10, 20 and 50 cent coins, along with a few oddities like some old shillings, old aussie, saffa and US coins, etc. I'll probably look for a coin collector or numasmatic dealer (new word of the day:D) for the oddities, and I'm assuming all the NZ 10, 20 and 50 cent coins can still be used despite looking huge compared to current ones? But what's the deal with the 5 cent coins? Will most banks exchange them? I see I can send them to the Reserve Bank but would prefer to pop into a local bank than courier...

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Reply # 2017898 17-May-2018 20:17

Some of the 2004 5c coins came out in a low print run (only 32k coins) and are worth real money

https://www.coincommunity.com/forum/topic.asp?TOPIC_ID=232273

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Stu

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Reply # 2017899 17-May-2018 20:17

Just take them to your bank. ~~They're the only place to take old money.~~ Edit: Forgot about Lions and RBNZ.

Keep calm, and carry on posting.

hsvhel

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Reply # 2017927 17-May-2018 20:28

check the dates on them, some are rare, likewise in the future with a limited run of the old $10 notes.

sidefx

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Reply # 2017941 17-May-2018 20:47

antoniosk:

Some of the 2004 5c coins came out in a low print run (only 32k coins) and are worth real money

https://www.coincommunity.com/forum/topic.asp?TOPIC_ID=232273

Good to know! I can attest to their rarity. Just spent ages looking through these and none from 2004 - haven't finished yet so fingers crossed. Very few from the 2000s TBH. Looots from the 90s and surprisingly more from the 70s than 80s by the looks of it.

Rikkitic

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Reply # 2017945 17-May-2018 20:49

If you make a bird out of cardboard with forward-pointing wings that extend further than the beak, you can tape a coin under each wingtip and entrance children with a magic bird that balances on your fingertip.

I reject your reality and substitute my own. - Adam Savage

ObidiahSlope

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Reply # 2018096 18-May-2018 02:25

http://www.resene.co.nz/headsup.htm

rscole86

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Reply # 2018099 18-May-2018 03:16

I think there was an amnesty period for the old coins at any bank, but now it needs to be returned to the reserve bank?

Journeyman

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Reply # 2018120 18-May-2018 07:47

Try calling an actual bank instead of asking a bunch of nerds on the internet.

Stu

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Reply # 2018122 18-May-2018 07:54

4 people support this post

This isn't Nerdzone, it's Geekzone!

Other than the exception of rare coins, they're not worth anything. And yes, I did ask a bank. They'll take them, but you won't get anything in return.

Keep calm, and carry on posting.

DarthKermit

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Reply # 2018123 18-May-2018 07:58

1. You could donate them to a charity like Lions. When they have enough of them they take them to the Reserve Bank and exchange them for new currency.

2. Send them to the Reserve Bank yourself (only the NZ coins) and get new money for them.

Stu

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Reply # 2018128 18-May-2018 08:11

DarthKermit:

1. You could donate them to a charity like Lions. When they have enough of them they take them to the Reserve Bank and exchange them for new currency.

I don't see them as often as I used to, but yes there are still the odd Lions donation boxes around. And as above, Resene supports Lions in this.

2. Send them to the Reserve Bank yourself (only the NZ coins) and get new money for them.

The problem with sending coins to the Reserve Bank, is that surely you'd lose any benefit with courier costs? Especially with 5c pieces. And then you have the not-supposed-to-send-cash via the post/courier issue.

Keep calm, and carry on posting.

MurrayM

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Reply # 2018132 18-May-2018 08:26

You'd be surprised at how many errors appeared on NZ coins over the years. If you've got a lot of coins then it might be worth checking them. Over the years I've found several 1967 50cent coins with a dot over the "1" in "1967". See http://www.coinerrors.nz/

DarthKermit

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Reply # 2018254 18-May-2018 11:22

Stu:

I don't see them as often as I used to, but yes there are still the odd Lions donation boxes around. And as above, Resene supports Lions in this.

I know one of our local New World supermarkets (in Palmy North) has a big perspex donation box and I've seen old NZ coins chucked in that.

Stu:

The problem with sending coins to the Reserve Bank, is that surely you'd lose any benefit with courier costs? Especially with 5c pieces. And then you have the not-supposed-to-send-cash via the post/courier issue.

True. The last time I was in Wellington, I popped into the Reserve Bank and exchanged a few bucks of old coins for new ones. They said people come in all the time with old currency. There must be a hell of a lot of it still around I guess.

DarthKermit

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Reply # 2018314 18-May-2018 13:15

I just checked my collection of old coins. I have a grand total of 61 cents in old coins. Woohoo! Someone take me back to 1967 so I can utalise the full spending power of that money back then!

During some of my numerous DIY projects, I've found these old coins around our early 1950s house:

Four pennies from 1952, 1946, 1961 and 1938. The last one has an inscription in Latin.

Three thrippences from 1956, 1954 and 1941.

I wonder what the equivalent spending power of those coins would be in today's money?

frednz

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Reply # 2018324 18-May-2018 13:39

I've often wondered what to do with my old coin collection..I have hundreds of coins that were collected a long time ago. I could get face value from the RBNZ but perhaps I would get more if I dumped the lot on a coin dealer? I found three 1935 threepences and I think these might be worth a bit?

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