Silver Ounce 2017 Decimal Currency, 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 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.

This coin commemorates 50 years since the introduction of decimal currency in New Zealand.

NZ Post (the issuer of the coin) says about it:
On 10 July 1967, New Zealand abandoned pounds, shillings and pence in favour of decimal currency. The new system was quickly adopted by New Zealand and was generally easier to understand than the complex imperial system. Of course, this new currency meant that there also needed to be new coins. The designs that were finally settled on had been designed by New Zealander James Berry. His designs of a silver fern, kōwhai, tuatara, Māori carved head or kōruru, kiwi and HMS Endeavour were chosen from a wide selection of submissions, and his 10-cent and 50-cent coin designs remain in use today.

This commemorative coin incorporates all of the iconic New Zealand symbols that were used in James Berry’s original designs. Each of the key elements are dispersed around the edge of the coin and encompassed by delicate koru designs.