Banknotes of the New Zealand dollar facts for kids

New Zealand dollar banknotes are the paper money used in New Zealand. They are also used in the Cook Islands, Tokelau, Niue, and the Pitcairn Islands. These banknotes are called the New Zealand dollar (symbol: $; NZD). The Reserve Bank of New Zealand prints and releases them. Since 1999, these banknotes have been made from a special type of plastic called polymer.

History of New Zealand Banknotes

Before 1934, many different banks in New Zealand printed their own money. These banks didn't have to accept money from other banks. People wanted one national currency for everyone. So, in 1934, the Reserve Bank was created. It became the only place allowed to print New Zealand's national banknotes. New Zealand was the last British country to create its own national money.

The Reserve Bank has made seven different sets of banknotes. Two sets were for the New Zealand pound, which was the money before the dollar. The other five sets have been for the New Zealand dollar, after the country switched to decimal currency in 1967.

Early Banknotes: Before the Dollar

The first New Zealand banknotes came out on August 1, 1934. They were signed by Leslie Lefeaux, the first Governor of the Reserve Bank. These first notes were printed in London. They included values like 10 shillings, £1, £5, and £50. All these notes were the same size.

These first notes were designed quickly and were meant to be temporary. They looked like other money already in use. They featured Māori designs, a kiwi bird, the New Zealand coat of arms, Mitre Peak, and a picture of Tāwhiao, the second Māori king.

The second set of notes came out on February 6, 1940. This was to celebrate 100 years since the Treaty of Waitangi was signed. The designs were mostly created by a Reserve Bank team. The 10-shilling and £50 notes had new designs and colors. A new £10 note was also added. A picture of Captain James Cook replaced King Tāwhiao. Māori designs were less noticeable, but the King was still in the watermark. A small picture of the Treaty signing was added to the 10-shilling note.

The British King at the time, George VI, was not on these early banknotes. His picture was not ready in time.

Third Series: 1967 to 1981

New Zealand changed its money to dollars on July 10, 1967. The New Zealand pound was replaced by the New Zealand dollar. On that same day, new dollar banknotes were introduced. These included $1, $2, $5, $10, $20, and $100 notes.

A special committee chose the designs in 1964. All notes in this series had Queen Elizabeth II on the front. They also had a watermark of Captain Cook. The back of each note showed a New Zealand bird and a plant linked to that bird. The colors of most notes stayed the same as the old pound notes. For example, the £10 note and the new $20 note were both green. This made it easier for people to get used to the new money.

Fourth Series: 1981 to 1991

In 1981, the Reserve Bank started using a different printer. This meant new printing plates had to be made. The only changes to the notes were small design updates and a new picture of Queen Elizabeth II. In this series, the Queen faced forward instead of to the left.

A fifty-dollar note was added in 1983. This note filled the gap between the $20 and $100 notes.

In 1990, a special ten-dollar note was made. It celebrated 150 years since the signing of the Treaty of Waitangi.

The one-dollar and two-dollar notes were stopped in 1991. They were replaced by one-dollar and two-dollar coins. These coins are both gold-colored. Sometimes, when people ask for a donation, they might ask for a "gold coin donation."

Fifth Series: 1992 to 1999

New Zealand's banknotes were completely redesigned in 1991. They now featured unique New Zealand designs. Most notes showed famous New Zealanders on the front. The $20 note still featured Queen Elizabeth II. The back of the notes showed a natural New Zealand scene with a native bird. The Queen replaced Captain Cook as the watermark image.

A special thing about this series was the picture of Sir Edmund Hillary on the five-dollar note. He was the only living person (besides monarchs) to appear on a New Zealand banknote during his lifetime.

The banknotes were redesigned because of a copyright issue with the old printer. The Reserve Bank wanted to find a new printer to save money. The old printer said they owned the designs. So, the bank decided to create new designs to avoid problems.

Sixth Series: 1999 to 2014

In 1999, New Zealand switched from paper banknotes to polymer banknotes, which are made of plastic. This change made the notes last longer. It also allowed for new and better security features to stop fake money. The overall design of the notes stayed mostly the same, with small changes for the new security features.

The Reserve Bank also made another special ten-dollar note in 1999. This note celebrated the new millennium. Over three million of these notes were put into use. The Reserve Bank started taking them out of circulation in 2002. Now, they are collector's items.

Seventh Series: 2015 Onwards

The front of a Series 7 (2015) $10 note.

In 2011, the Reserve Bank announced new banknotes would come out from 2015. The new five-dollar and ten-dollar notes were released in October 2015. The new twenty-dollar, fifty-dollar, and one-hundred-dollar notes came out in May 2016. The Reserve Bank called this new set the "Brighter Money" series.

The new series was made to add more security features to the notes. People liked the old designs, so very few changes were made. The new notes are brighter in color. They also have the Māori translation of Reserve Bank, "Te Putea Matua," and "New Zealand, Aotearoa" on the back. These new notes slowly replaced the old ones. Polymer banknotes last four times longer than cotton ones.

Future of Banknotes

After Queen Elizabeth II passed away in September 2022, the Reserve Bank said it would use up its current supply of twenty-dollar notes. After that, new twenty-dollar notes will feature King Charles III. This will likely take several years.

Current Banknotes

The newest New Zealand banknotes are from the seventh series. They were first released in October 2015 and May 2016.

Past Banknotes

The front of a Series 3 (1967) $20 note.

New Zealand banknotes have changed designs and materials over time. Most dollar notes issued since 1967 are still valid. However, the $1 and $2 notes are no longer used.

Special Commemorative Banknotes

Sometimes, special banknotes are made to celebrate important events.

Security Features on Banknotes

New Zealand banknotes have many security features. These features help stop people from making fake money. Modern plastic banknotes also feel different and are hard to tear.

Here are some security features on the Series 7 notes:

• There is a large clear window on the right side of the note. It has tiny details like the note's value and fern patterns. Inside, there's a metallic bird, a map of New Zealand, and silver ferns. There's also a 3D number showing the note's value.
• The front and back of the note have raised ink. You can feel this ink. The large number, the person's picture, and the words "Reserve Bank of New Zealand Te Pūtea Matua" are raised on the front. On the back, the large number, the featured bird, and the words "New Zealand" and "Aotearoa" are raised.
• If you hold the note up to a light, small puzzle pieces on the front and back join together. They form a complete number, which is the note's value.
• A bird's shape appears on the left side, above the serial number. When held to light, the fern window from the back shines through this bird shape. The bird's color changes when you move the note. The metallic image in the large clear window also changes color.

Security features on the older Series 6 notes include:

• The clear window on the right side is oval-shaped. It has the note's value pressed into it. The clear window on the left is shaped like a fern leaf.
• There is a curved fern leaf above the clear fern on both sides. When held to light, the ferns on both sides should line up perfectly.
• If you hold the note to a light, you should see a watermark of Queen Elizabeth II. This is in the area to the left of the clear oval.
• The front and back of the note have raised ink that you can feel.
• Tiny letters, "RBNZ," are printed very small. You can see them with a magnifying glass. They are in the band between the picture and the value.
• The note's serial number is printed both across and down the note. Both numbers should be the same.
• Under ultra-violet light, the note should look dull. But a patch on the front, showing the note's value, will glow under UV light.

Old or Damaged Banknotes

The Reserve Bank accepts all New Zealand money at its original value. This includes money that is no longer printed or used. However, money changers do not have to accept notes that are no longer legal tender. All dollar banknotes printed since 1967 are still valid, except for the one-dollar and two-dollar notes, which were stopped in 1991.

The Reserve Bank will usually replace damaged notes if they can still be recognized. If a note is missing a piece, you might get less than its full value. For example, if more than two-thirds of the note is left, you get the full value. If between one-third and two-thirds is left, you get half the value. Notes with less than one-third remaining are considered worthless.

See also

• Coins of the New Zealand dollar (currently ten cents to two dollars)