The Reserve Bank of New Zealand have revealed the revised and updated designs for their new series of banknotes scheduled to be released for use in late 2015. The Reserve Bank indicated that there would be a new or upgraded series of banknotes but the personalities featured on obverse the present series would remain or transition onto the updated notes with the current flora and fauna also remaining on the reverse. The Reserve Bank have indicated the reason why the notes will undergo an update was to ensure their security – though New Zealand report very low levels of counterfeiting and the last update had occurred 15 years ago when the Reserve Bank changed over from paper notes to polymer – which continues with the new series. The new series are to be printed by the Canadian Banknote Company at their facilities in Ottawa, Canada.
The current denominations, of $5, 10, 20, 50 and $100 will remain in circulation and the notes will also retain their dimensions and color schemes. All values will incorporate upgraded security features and revised artwork with the colors being intensified to distinguish them further for the benefit of visually impaired persons. The overall “look” of the new notes is also to include a more modern appearance which will include larger print and include additional text in Maori. The notes will continue to feature ‘windows’, as on the current notes. But the windowed portion of the notes will feature a greater level of both design and security. Several other additional security features will be added, including color changing/optically variable features.
The first note is scheduled to enter circulation from October 2015 with the $5 and $10 being the first two with the remaining three denominations following by April 2016. The Reserve Bank of New Zealand have added that existing notes will remain in use after the new notes are introduced. Both the current series and new notes will be legal tender. The older notes will be automatically withdrawn when they return to the Reserve Bank as part of the normal cash processing cycle. For more information on the new note series and the current notes, please visit the website of the Reserve Bank of New Zealand at: http://www.rbnz.govt.nz/notes_and_coins/