COINS NOW IN USE IN NEW ZEALAND ARE TO BE GRADUALLY WITHDRAWN AND MELTED DOWN TO HELP PAY FOR THE COSTS OF CONVERTING TO DOLLARS AND CENTS. THE WITHDRAWAL OF HALF-CROWNS WILL START NEXT MAY AND THE RESERVE BANK WILL BE FACED WITH THE MAJOR TASK OF CONVERTING AND DISPOSING OF THESE VALUABLE METALS.



THIS MACHINE WILL SORT ALL SILVER COINS DOWN TO THREE-PENCES FROM MORE RECENTLY MINTED COINS OF CUPRO-NICKEL. HALF CROWNS CAN BE SORTED AT RATES UP TO 12 COINS A SECOND. SIX OF THESE MACHINES ARE BEING BUILT FOR THE BANK BY NEW ZEALAND'S DEPARTMENT OF SCIENTIFIC AND INDUSTRIAL RESEARCH TO COPE WITH 16 MILLION HALF CROWNS NOW IN CIRCULATION.




Initials



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Background: NEW ZEALAND'S MINISTER OF SCIENCE, MR TALBOYS, AND THE UNDER-SECRETARY FOR FINANCE, MR MULDOON, HAVE BEEN SHOWN A MACHINE WHICH WILL SEPARATE SILVER ALLOY AND CUPRO-NICKEL COINS IN PREPARATION FOR THE INTRODUCTION OF DECIMAL COINS IN NEW ZEALAND IN 1967.