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 one ounce of silver format (abbreviated as 1 oz Ag, where "Ag" comes from the Latin word for silver, Argentum). 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.
New Zealand has the tradition of issuing one "main" large commemorative per year, and this coin is the 2016 New Zealand Annual Coin, featuring Haast's Eagle.
NZ Post says about it: Hundreds of years ago New Zealand was home to a variety of unique animals that are sadly now extinct. The 2016 New Zealand Annual Coin features the fearsome and fantastic Haast’s eagle - the greatest predator to ever grace our skies.
This 1oz silver proof coin has been designed by renowned Māori artist Dave Burke and features a visually impactful design. The coin depicts a close-up of the Haast’s eagle in the background, with the impressive bird swooping down to catch its prey in the foreground. The rim of the coin features both the Māori and English name of this extinct species.
This legal tender coin is the only $5 silver proof commemorative coin to be issued annually. |