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Questions and Answers on
5-cent and 10-cent Coin Distribution
What coins are being made
available?
One uncirculated pair each of the scarce 2004 5-cent and 2005 10-cent
coins
is being given to members of New Zealand numismatic societies for
free. Up to 1000 pairs are being
distributed by the Royal Numismatic Society of New Zealand (RNSNZ). These coins have been generously donated by
New Zealand Post. Existing members are
automatically eligible to receive the coins.
New members after 30 May 2007 may have to enter into a ballot.
Why is New Zealand Post
Making These Coins Available?
These coins are scarce and of great interest to collectors. This is a way of promoting interest in
collecting and supporting coin collecting generally. New Zealand Posts willingness to promote the hobby has been
greatly appreciated by all numismatic societies. NZ Posts web site explains;
www.stamps.nzpost.co.nz/Cultures/en-NZ/Coins/
How Many Coins Are Being Made
Available?
Up to 1000 pairs are
being made available through the offer.
New Zealand Post will return any remaining coins to the Reserve Bank.
Why are these coins being
distributed by the RNSNZ?
The Society is interested in helping members collect coins and in
promoting numismatics in New Zealand.
This gives many more collectors a chance to own the coins, examine them
and should promote much more membership of numismatic societies. We hope that a large proportion of those who
join will become active, longer term members.
Wont this Free Distribution
of Coins Lower the Value of the Coins?
- Originally
48,000 2004 5-cents and 28,000 2005 10-cents were released. Most were withdrawn but although up to
5000 2004 5-cents and 5000 circulation 10-cents are known to be available
in sets, or in circulation now, the coins will still be scarce.
- However the
RNSNZ believes the market will absorb the extra thousand coins without an
undue effect. Coin recipients only
get one pair and will undertake not to sell them for two years.
- The
circulation coins are different to those issued in official annual mint
sets, being struck at different mints and contain minor design
differences. Many collectors will want to have one of each. The prices of the annual sets are not
expected to move much because of this distribution.
- As the
promotion is being targeted at collectors, many of these coins will go
into collections and not be put up for sale anyway.
- A similar
distribution of the scarce 1967 Bahamas mule (a cross between a New
Zealand 2-cent reverse and a Bahamas 5-cent obverse) resulted in the price
dropping but then picking up again.
What will the coins be worth?
The societies will not take a direct interest in this and make no
guarantee about the worth of the coins.
Their main value is as a collectors item, helping collectors complete a
date set of the circulating New Zealand decimal coins, which is otherwise quite
difficult to assemble.
Which Existing Members of
Societies Are Eligible?
All existing paid-up members, life members, honorary members, junior and
overseas members and fellows of numismatic societies as at 30 May 2007 are
eligible to take part in the distribution.
They must sign a declaration that they will not sell the coin for two
years as from 30 September 2007 and return it to the RNSNZ, through their own
society. They must also agree to pass
on their name to the RNSNZ and New Zealand Post as a coin recipient so the
distribution can be checked as proceeding in a fair and proper manner. The form is attached. Alternatively, an online form, with online
subscription and postage payment details is available at www.RNSNZ.org.nz after 10 July 2007. Names will not be held or used by NZ Post or
the RNSNZ for any other purpose than the promotion in accordance with existing
privacy laws.
The eligible societies are the Numismatic Society of Auckland, the
Waikato Numismatic Society; Tauranga Numismatic Society; Wanganui Numismatic
Society; Manawatu Numismatic Society and Royal Numismatic Society of New
Zealand. Members of branches of the
Royal Numismatic Society of NZ need to be paid up members of the society
concerned to be eligible.
How Do New Members of
Societies Become Eligible for the Offer?
They apply at www.RNSNZ.org.nz or
fill in the attached declaration form, apply to become a member of a Numismatic
Society at a cost of $20, and pay the $20 to the Royal Numismatic Society of
New Zealand, together with the cost of postage and packaging of the coins to
them which is:
Courier Post: $4
Overseas Courier: $10
Optional special holder if wanted $15
(Overseas members of societies need to provide the equivalent of the New
Zealand dollar amount in either $US or $Australian. Exchange rates vary over time, but as a guide, $NZ10.00 is
currently equivalent to $A9.00 or $US8.00).
How Are The Coins Packaged?
There will also be an option to order some special packaging shown below
at an additional cost of $15.00. The
holder will unscrew to allow removal of the coins but gives a perfectly
transparent display in hard plastic.
The caption is likely to be Made available by the Royal Numismatic
Society of New Zealand and New Zealand Post.
An early sample is shown below.
Figure 1: Optional Coin Holder
Ordinary packaging, consisting of a standard coin flip, will be included
in the cost of $20 to join a society.
Coins will be in a plastic flip with a special insert.
All distribution through courier delivery will be at the risk of the new
and existing members.
How does payment of a
membership subscription work?
All societies will accept new members through this offer for the payment
of $20 (for all memberships, including junior memberships) from 10 July until
the offer closes at 30 September. The
amount will pay the subscription for one year and any balance above the cost of
the normal subscription will be passed to the society concerned. In the case of the Royal Numismatic Society
ordinary members, this is a discount on ordinary membership. In the case of the Numismatic Society of
Auckland, it is equal to the ordinary membership subscription.
Why Should I Join a
Numismatic Society?
Its a great way to share your hobby with other enthusiasts. You can learn more about the many issues of
coins, banknotes, medals and tokens and have fun doing it!
Societies typically:
·
hold meetings where you can meet other collectors, hear interesting
speakers and hear about interesting topics
·
run fairs and auctions where you can acquire material
·
issue newsletters (e.g. The Royal Numismatic Society normally issues one
high quality Journal each year and three newsletters free to members. The
Tauranga and Auckland societies also issue newsletters.)
·
provide news and opportunities to learn about events and special offers
·
have books, journals and other
resources (e.g. The Royal Numismatic Society of NZ has an extensive library on
New Zealand and World Coins)
·
look after the interests of collectors (e.g. The Royal Numismatic
Society of NZ has been clarifying the best way to send coins overseas and in
New Zealand, providing advice to the Reserve Bank, and makes submissions on
Government Bills affecting numismatics, promotes research and looks to support
selected events in Wellington and throughout New Zealand.)
Society Meetings
Royal Numismatic Society of
New Zealand
PO Box 2023 Wellington 6140
Contact 04 9344422
Established in 1931. Meets on
last Wednesday of the month in Wellington, February to November. Offers an extensive library; occasional
auctions and trading nights; speakers; visits to local collections and
displays; three newsletters and high quality Journal per year; and web site
with general information.
Copies of earlier Journals and proceedings are available, including some
on CD.
Numismatic Society of
Auckland
P O Box 818, Auckland 1140
Phone 09 428-1338
Was formed in 1959. Meets
monthly except January on the second Tuesday
in the Parlour of the Methodist Central Mission, opposite the Town Hall,
Queen Street. Meetings are
informal and interesting, normally with a quiz where each attendee brings a
question, guaranteeing at least ONE point.
The Society publishes a monthly magazine MINTMARK of 8 to 20 pages, with
some illustrations. Has
published "The Millennium Series" and The
Duodecimal Coinage of New Zealand" both illustrated, $5 each, plus
a
catalogue of the works of Anton Teutenberg, a German, Auckland-based
engraver of the 19th century. This is heavily illustrated.
$35 (all post free)
Has also issued medals from time to time.
Some members have extensive libraries and are usually willing to lend,
and otherwise assist newcomers.
Tauranga Numismatic Society
PO Box 202, Tauranga
Contact 07 533-1881 or 07
578-1221.
Meets on the first Wednesday night of the month (except January) at
7.45pm at the Wesley Church Hall, 13th Avenue, Tauranga.
Waikato Numismatic Society
PO Box 9593 Hamilton
Contact 07 825 9888
Meets 3rd Wednesday except December and January, Rostrevor
House
Wanganui Numismatic Society
PO Box 123, Wanganui 4500
Contact 06 345 6587
Meets 7.30 pm last Tuesday of month except December
Manawatu Numismatic Society
c/o 224 Tremaine Avenue
Palmerston North
Contact: 06 376-4446
Meets 2nd Tuesday of month at 7.30 pm
Are There Any Varieties in
These Coins?
Will Any Error Coins Be
Distributed?
All coins will be distributed
at random irrespective of whether they have (manufacturing) faults. The Royal
Numismatic Society of NZ checked 300 of the five-cent coins for faults and more
than 50% of these coins had one or more faults. This is an exciting prospect
for error coin collectors, as two main error varieties have been found: a
double-line seagull, and a single-line seagull. The single-line seagull is rarer than the double-line, 10% of the
coins compared to 40%. But the double-line seagull has additional faults: a
dripping 5 and a rough rim above the seagull.
DECLARATION FORM FOR
NUMISMATIC SOCIETY MEMBERS WISHING TO ACQUIRE 2004 5-CENT AND 2005 10-CENT
COINS
I
,
.., declare that:
I am (a) a member of
.. (Tick one)
or (b) wish to join
..
the
Numismatic Society
(Include one of Royal
Numismatic Society of NZ; Numismatic Society of Auckland; Waikato Numismatic
Society; Tauranga Numismatic Society; Manawatu Numismatic Society or Wanganui
Numismatic Society).
If successful in obtaining the
coins, either directly or through a ballot, I will not sell before 30 September
2009 the pair of New Zealand 2004 5-cent and 2005 10-cent that I receive.
I agree that my name and
address can be passed to the Royal Numismatic Society of NZ and New Zealand
Post for the purposes of:
(a) checking that the distribution of these coins has been
conducted in a fair and proper manner
(b) conveying the coins to me
(Neither the Royal Numismatic
Society of NZ nor New Zealand Post will keep these details for any other
purpose, except if you choose to join the Royal Numismatic Society, it will
keep your contact details for servicing your membership, such as sending
publications, meeting details and other matters of interest to you. Contact details will be passed to the
society you choose to join.)
I wish to have my coin sent to
me by (Tick one):
(a) Courier within New Zealand ($NZ 4.00)
.
(b) Overseas courier ($NZ 10.00)
.
(c) Collected from my Society (no charge)
.
I wish to order the special,
transparent, hard plastic packaging
($NZ 15.00
.
Payment for joining a Numismatic
Society (new members only) ($NZ 20.00)
.
(All amounts in New Zealand
dollars)
I enclose a cheque (made out
to the Royal Numismatic Society of New Zealand Inc) for membership for one year
of a numismatic society plus the amount required for courier service and
packaging as specified, a total of
..
Signed
.. Date
..
Name:
.. Email
...
Address
..
Telephone
..
Applications must include
name, signature and address to be valid.
Please fill in as many of the
blank spaces as you can in this form and send to:
The Secretary,
Royal Numismatic Society of
New Zealand (Inc)
PO Box 2023
Wellington 6140
New Zealand
(Or hand
to the Secretary of your Numismatic Society.
If you are an existing member of a numismatic society as at 30 May 2007,
your society Secretary will need to confirm to the Royal Numismatic Society of
NZ that you were eligible for the offer by being a member of the Society then.)
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