New Zealand’s central bank is considering issuing coloured coins, while plans are progressing for redesigned banknotes next year.
The bank is also looking at ways of marking next year’s centenary of the ANZAC landings at Gallipoli.
The moves were detailed by Reserve Bank of New Zealand deputy governor Geoff Bascand in a speech to the international numismatic conference in Wellington on Saturday.
The Royal Canadian Mint produces New Zealand’s 10 cent, 20 cent and 50 cent coins.
In June the mint unveiled improvements in technology that would revolutionise coloured coins, Mr Bascand said.
“This opportunity, which could be a first for New Zealand, is currently under evaluation by the bank’s currency staff,” he said.
He also detailed plans for new banknotes with better security features and refreshed designs to be issued from the fourth quarter of 2015.
The notes will be the same size and denominations as are now in circulation, and will continue to be made of a flexible polymer plastic.
The designs will be updated, but flora and fauna will remain key features.
The “near final” designs will be released in November.
Two denominations will be put into circulation in the fourth quarter of 2015 and three denominations about six months later.
The notes will continue to have transparent windows, but will have “colour-changing and optically variable features”, he said.
Operating costs of the new notes will be $US43 million ($A46.5 million) over five years.
The Canadian Banknote Company has been selected to design and print the notes for five years.
The new notes will co-circulate with current notes for a period of time.
“The Reserve Bank will continue consultation with banknote equipment manufacturers and industry stakeholders in the lead-up to the release of the new notes to ensure a smooth transition,” Mr Bascand said.