FF:NZ Do you hate change?

[image=http://www.newcoins.govt.nz/index-coins-1.jpg]

From 31 July 2006 the current 50, 20, and 10 cent coins will be replaced with smaller and lighter coins, and the 5 cent coin will begin to be phased out. The coins will still be easy to tell apart - they will retain the same designs, and the 10 cent coin will be copper-coloured. The $1 and $2 coins will be unchanged.

There will be a transition period of three months, from 31 July 2006 to 31 October 2006. During this period the existing and the new coins can be used.

From 1 November 2006 the current 50, 20 & 10 cent coins, including the 5 cent coin will no longer be legal tender, which means that retailers do not have to accept them for payment of goods. The Reserve Bank will always redeem the existing coins.

How exciting.

 

I rarely have or use money. Go EFTPOS and Student Bank accounts that don't charge for EFTPOS usage.

But yes, having a wallet in the back pocket is bad enough, let alone when it's full of bloody coins.

I like the 5c though... it's the only coin I use to scratch instant kiwi's (lucky 5er) and the Tuatara is way better than the Taniwha on the 10c.

50c being smaller is good, 50c can't fit in the coin tray slot things along the side of my dash, when I do occasionally have some coinage.

 

although everything will basically increase in price by 5c, as no one's going to be rounding _down_ to 0.90 when they could just go up the nearest whole dollar. The US still has one cent pieces and the UK still has a one pence coin and they seem to cope fine.

 

IMO it's a waste of time and money.

If they wanted to scrap the 5c coin, then that is cool, but to change them all is just pointless. I feel sorry for all those companies that have to change all their vending machines etc to accept the new coins.

Oh and that fact that the 20c will now have that maori design instead of the gool old Kiwi ***** me right off!

 

I'd imagine the thinking was, about the 20c coin, that it's better to have one design instead of two, or else people think it's a foreign coin when they see the alternative design. Plus the $1 coin already has the kiwi design very similar to the 20c.

 

Actually you may be wrong about that. The thought is that $4.90 is a lot more appealing due to a perceived lower cost than $5.00 to the consumer, as it's a lower number out in front next to the dollar sign. I've never really bought into that theory (ha!), but a lot of retailers probably will continue to.

And they only really lose money during single item purchases, as the totals at checkout are the only things that will be rounded - and that's only if you pay with cash, which is becoming less common by the day.

 

Yea, that theory is bollocks. My mate and I were driving past a car parked on the side of the road;

"FOR SALE
$999"

We both looked at each other and pretty much said at the exact same time "cause $1000 is so much more!"

It's so stupid. Like petrol.

$1.70.9 Why not just $1.71 for god sake!!??!?!?! Who honestly gets fooled or higher hopes of a cheaper deal by it?

 

wow. Just saw the new $0.50 coin. It is tiny tiny tiny!

 

Isn't it just the size of the old 20c?

 

nope, halfway in between the size of the old $0.20 and and the old $0.10. It's also very thin. Honestly, when you see it, you'll be gobsmacked as to how tiny it is.

 

I am all for them changing the sizes of the coins if it saves money in production, but I'm also all for compensation for small vending machine operators which have to go through conversations so their machines can accept and process the smaller, lighter coins. Poor buggers.

I very rarely have coinage as it is, but smaller = better, esp in my leather wallet, I hate it getting stretched when I get shrapnel.

 

This would be the week to dump conterfeit coins into the market.

Anyone got a mint?

 

tisk tisk JP.

 

I brought all my coins to work on Tuesday, to change over in the vending machine, and found it had already stopped accepting 5c coins. Plus the prices seemed to have increased ... I guess they were compensating for the cost of updating the machines.

 

mmmmmmmmmm lol.

 

It's been less than a week and already it's bl**dy hard to get the old coins in change.

We've managed to keep 2 full sets for both our boys to keep. Kids were so hell-bent on getting the new coins, when they should have hung on to the old.

Not long now until they'll be gone forever.

 

Yea, I was thinkg about that myself. My old man has a few old coins and coins from other countries... wonder if he's kept any, haven't asked...

Good to see you around Roff! Hope you've been keeping your pants up lately!

ah memories.

 

I'm so busy mucking around with 'puters at work, I usually don't bother with my one at home.

BTW: It's been too cold to play pool lately.

>> Back on topic: So, how 'bout those new fangled pennies huh?

 

I don't understand it. The 2p coin is worth about the same as 5c, and 1p is definitely worth less, but they're still in use. Is 5c too costly to produce or something?

I have a set stashed far, far away. All except for a 5c coin, as the only one I took with me happened to be an Aussie 5c coin. D'oh!

 

You know what is worse? Some of the parking machines don't even take the new coins yet.
I watched a wgo lady kept trying to put in the new coins, and it kept rejecting them. She just wouldn't give up.

 

that's why TXT-A-PARK is so great, although the $0.50 surchange annoys me. It's always amazed me that no one has ever thought of 'parking card', whereby you have a smart card like a bus ticket, which you can load with money, and then swip in a parking meter rather than having to carry a wallet full of coins all the time.

 

Yeah 'txt a park' is awesome, especially seeing as i have a work mobile phone so i just use that and it costs me nothing!!


EDIT: txt a park , yes SFl very funny!!

 

Is that like a new Wellington Parliment thing where you can text your local MP?

ooooh, fun!

 

I still got heaps of the old coins, i find them everywhere.

I'm so lazy though, i bet i'll never take them to the bank

 

Yea, i just realised i have a draw full of coins from poker night. 20's and stuff... meh

I like the new coins, my wallet isn't so stretched and is far lighter... in the rare instances i have coinage.