The pound was the currency of the Australia territory of New Guinea between 1915 and 1966. It replaced the mark when Australia occupied the former German colony at the end of World War I. It was equal to the Australian pound and Australian currency circulated, alongside coins issued specifically for New Guinea between 1929 and 1945. The pound was subdivided into 20 shillings, each of 12 pence.
Between 1942 and 1945, the Oceania pound circulated, issued by the Japanese occupiers. Australian coins and banknotes resumed circulation after the war and continued until 1975, when the kina replaced the Australian dollar at par.
In 1929, nickel halfpennies and pennies, as well as cupro-nickel pennies were introduced. These (as well as all subsequent New Guinean coins) were holed. The inscription on the reverse read Georgius V. D G Rex et Ind. Imp., which translates from Latin as, "George the Fifth, by the Grace of God King and Emperor of India". The inscription on the obverse reads Territory of New Guinea. These coins were followed in 1935 by threepence, sixpence and shillings. The following year, pennies were minted under King Edward VIII, a relatively rare feature as Edward abdicated less than eleven months after succeeding to the throne. Most other dominions and colonies featuring the British monarch on their currency did not have enough time to redesign their coins before the king abdicated. Coins of varying denominations were minted under the reign of George VI, beginning in 1938. In 1945, production of coins ceased until Papua New Guinea started minting their own currency in the 1970s.