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by lugg
2601 days ago
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I think it was actually the cost of the metal, i.e. the metal was worth more than the denoted value. There were other reasons like inflation making 5c coins largely irrelevant (we also had 1, and 2c coins phased out years earlier) (also 1nzd=0.5usd at that time) NZ has also been largely cashless for at least 20 years now. (Link below has some interesting info/graphs) https://www.paymentsnz.co.nz/resources/articles/two-sides-of... I think the only reason this happening was even a big deal at the time was because they replaced all coins at the same time with much smaller, lighter and cheaper versions. I.e. it wasn't a big deal at all but rather the swap over was. |
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