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Question: NZ Florin Mintages

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 Posted 04/24/2008  9:12 pm Show Profile   Bookmark this topic Add KurtS to your friends list Get a Link to this Message Number of Subscribers
If you're a collector in NZ or simply collect their coins, I have a question for you regarding the coin below.
This is the 1963 NZ Florin, which according to Krause has the lowest mintage of any Florin minted there: 100,000. Yet, this was a reasonably cheap coin...does anyone have an explanation? Is Krause wrong on the mintage?

Question:-NZ-Florin-Mintages
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Sap's Avatar
Australia
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 Posted 04/25/2008  12:49 am  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
When you say "reasonably cheap", what are you comparing it to? Remember, when collecting darkside coins, you must "unlearn what you have learned" with regard to price, rarity and mintage. As always, a coin's price is a function of supply and demand.

Supply: Not long after the coin was made, New Zealand's currency was reformed, so many of these coins would have been put away after only a short time in circulation. Furthermore, these coins are made of cupronickel, so were not prone to being melted down. Indeed, they continued to circulate as a 20¢ coin after decimalization in 1967, and could probably still have been found in circulation right up to 2006 when the old-size coins were formally withdrawn. So most of the mintage should still exist.

Demand: Who wants to collect New Zealand coins badly enough to "need" one of these coins? New Zealanders, for starters, but there probably aren't anywhere near 100,000 coin collectors in NZ. Some Australian collectors might also be interested in acquiring a complete date set, as well as Empire and Commonwealth collectors in other countries, but their numbers would be few.

Conclusion: 100,000 should be more than a high enough mintage for a New Zealand coin.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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 Posted 04/25/2008  12:58 am  Show Profile   Bookmark this reply Add KurtS to your friends list Get a Link to this Reply
Sap, I guess you made your point...and NZ coins aren't in huge demand. I do realize Australia has roughly 5X the population.

Still, I'm mostly curious why the '63 mintage was 100,000 in stark contrast to '64 which was 7 Million and '65 at 9.4 Million --did you notice that?
But I won't get painfully academic here. After all, I just like the coin and the mintage.
Edited by KurtS
04/25/2008 01:23 am
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 Posted 04/25/2008  01:39 am  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
New Zealand's economy is small, and was even smaller back then. It didn't need too many coins to keep it going, especially in comparison with larger economies like the USA, Great Britain or even Australia. Some years, they only needed just a few coins. You've probably noticed that for many of the years in New Zealand, there are gaps - no coins were issued at all. They just didn't need any more made in those years.

Fiji is an even more extreme example of this. An even smaller economy, with (usually) even smaller mintages (100,000 would be considered "typical" for Fiji), and far more "gap years" when no coins were made.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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 Posted 04/25/2008  01:44 am  Show Profile   Bookmark this reply Add KurtS to your friends list Get a Link to this Reply
Sap, makes sense to me--thanks! I guess I wish I had an Australian coin with that mintage.
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