First new coins come off the production line

Saturday March 07, 2015 Written by Published in Economy
Parliamentary Secretary, Kelly O'Dwyer and Finance Minister Mark Brown with the new two dollar coin, which is gold and triangular. Parliamentary Secretary, Kelly O'Dwyer and Finance Minister Mark Brown with the new two dollar coin, which is gold and triangular.

Cook Islands Minister of Finance Mark Brown was in Australia this week to officially strike the Cook Islands’ new coins, set to be released later this year. 

 In August last year, Brown announced that the Government would launch a set of new coins to celebrate the 50th anniversary of Cook Islands self-government. 

On Wednesday he officially started production of each of the six denominations of the Cook Islands’ new coins in a ceremony at the Royal Australian Mint in Canberra.  

Brown was accompanied by the Secretary of the Ministry of Finance and Economic Management (MFEM) Richard Neves. 

MFEM will be responsible for delivering the Cook Islands’ coinage reform and managing the process of distributing new coins and withdrawing old coins from circulation.

 “From August this year, Cook Islanders will have shining new coins with much-loved Cook Islands designs that they can use every day with pride,” said Brown. 

The new coins will be smaller, lighter and made of modern materials. 

There will be six new coins: 10 cents, 20 cents, 50 cents, $1, $2 and $5. The 10 cent, 20 cent and 50 cent coins will be made of nickel plated steel and will be silver in colour.

The $1, $2 and $5 coins will be made of aluminium bronze and will be coloured gold.

The back of all coins will feature the Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II.  

The reverse designs of most existing coins will be retained. A new look will be introduced for the $5 coin, which will feature a traditional vaka.  

All coin designs will be released in conjunction with a public awareness campaign to be launched mid-year.  

More information will be provided about the public awareness campaign closer to the time of the official launch of the coins.

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