Gold Quarter Ounce 2016 1916 Courage and Commitment, Coin from New Zealand - detailed information

New Zealand uses the New Zealand Dollar as its circulation currency for daily transactions. The country also issues a number of commemorative and collector coins, including in the internationally popular gold quarter-ounce format (abbreviated as 1/4 oz Au, where "Au" comes from the Latin word for gold, Aurum). Authorised by the Reserve Bank of New Zealand, the official issuer of these coins is NZ Post - which also issues the country's postal stamps. Manufacturing of the coins is commissioned to various foreign mints.

The coins are "Non-Circulating Legal Tender" (NCLT) and not bullion because they are issued at prices much higher than their intrinsic value and are targeted at collectors who appreciate them for their artistic or sentimental value, and not at bullion investors.

This coin is part of a five year programme by New Zealand Post, of legal tender commemorative coins commemorating the First World War. The coin tells the story of the New Zealand Tunnelling Company (NZTC) and the Arras tunnels. These hard-working men were the first New Zealanders on the Western Front, on 9 March 1916. Digging largely with pickaxes, they created a vast underground network providing access to the front line. After successfully countermining at Vimy Ridge, the NZTC began work beneath French town Arras in November.

Over five months the New Zealanders slowly but surely linked and greatly extended two medieval mines. To orient themselves from north to south, they named key locations Russell, Auckland, New Plymouth, Wellington, Nelson, Blenheim, Christchurch, Dunedin and Bluff. Eventually, the tunnels would house upwards of 20,000 men.