When was money first introduced to new zealand?

Question

details please thanks

Answer 1

From the Reserve Bank of New Zealand website.

History of New Zealand Coinage -

New Zealand introduces its own currency.

By 1933, it was obvious that something had to be done about the coin smuggling and the shortage of lower denomination coins in New Zealand. It was decided that New Zealand should start issuing currency from a single bank. The New Zealand Numismatic Society suggested that New Zealand adopt a decimal system of coinage.

However a distinctive New Zealand coinage was introduced in 1933 based on a fractional system (the same as sterling). These new coins used the same weights, sizes and denominations as the British coins. Bronze coins (penny and halfpenny) of British standard were not approved until 22nd December 1939. These were issued in 1940, at the time of the Centennial of New Zealand.

The Coinage Act, 1933 governed the currency, coinage and legal tender in New Zealand, and meant that British coin ceased to be legal tender as at 1st February 1935. New Zealand then became the last and most remote of the self-governing dominions of the British Commonwealth to introduce its own coinage.

Answer 2

they have money in NZ ??

i thought it was sheep swooping

Answer 3

The early years

In early 1840, Captain William Hobson, RN, the first Governor of New Zealand, extended British laws to New Zealand. This meant that certain sections of the Imperial Coinage Act, 1816 (UK) became relevant to the new colony. This allowed for the standard gold, silver and bronze British coins to circulate freely in New Zealand alongside the existing variety of foreign coins. British coins were made legal tender in terms of the above act by the passing of the English Laws Act in 1858.

In the 1840s and 1850s there was an extreme shortage of coins, especially copper coins. Traders tried the issue of low value paper notes to remedy this situation but this was soon abandoned. Instead, as this shortage intensified throughout the 1850s, businesses in Auckland and Dunedin decided to issue their first copper tokens in 1857. In all, 48 traders (mostly retailers) issued their own penny and half-penny tokens. This practice survived until 1881 with their use gradually declining in the 1880s.

In 1897, New Zealand's currency became subject to certain provisions stated in the Imperial Coinage Act, 1870 (UK). This meant that only British coin became the official legal tender coin of the colony. At that time, it was already one of the two `common' currencies, along with Australian minted gold sovereign and half sovereign coins.

In 1914, the gradual withdrawal of gold coin from circulation took place.

Silver coin was debased from .925 fine (Sterling Silver) to .500 fine in 1920.

Answer 4

Both of the above, or when the Kiwis traded.