Pitcairn Islands dollar

Pitcairn Islands dollar
Pitkern Ailen dollar
ISO 4217
Code PND[lower-alpha 1]
Denominations
Subunit
 1/100 cent
Symbol $
 cent c
Nickname none
Banknotes $5, $10, $20, $50, $100 (New Zealand notes only)
Coins 5c, 10c, 20c, 50c, $1, $2 (only New Zealand coins circulate officially)
Demographics
User(s)  Pitcairn Islands
Issuance
Printer Note Printing Australia (provides base polymer note material)
 Website www.noteprinting.com
Valuation
Inflation NA
Pegged by New Zealand dollar
  1. ↑ Unofficial.

Pitcairn Islands is a non-sovereign British Overseas Territory and the New Zealand dollar is used as exchange. Pitcairn Islands began issuing its first commemorative coins in 1988. Though the Pitcairn Islands dollar is not a true currency in the strict sense of the word, and is not used as a circulation coinage, it can be lawfully exchanged as tender. The Pitcairn Islands dollar exists only because of the coin collecting market, which provides a major staple for the island nation. Having a population of only 56 according to the 2013 census, and with only one island in the group of four being populated, there is no need for local coinage. Coins consist of an important part of Pitcairn's tiny economy and help raise funds for the government's largely fixed and subsidized income.

Coins

New Zealand coins and notes are circulated in Pitcairn Islands. However, Pitcairn began issuing its first denominational coin set in 2009. They were in six denominations of copper-plated bronze 5, and 10 cents, nickel-plated bronze 20, and 50 cents, and bronze $1, and $2 pieces. They come in Uncirculated and Proof conditions and could be acquired in packaged sets or in rolls. The reverse of each coin depicts a relic from the H.M.A.V. Bounty along with its description and the coins respective denomination. This is surrounded by a fine border.

The coins are of similar size, weight, and coloration to those of a similar set from Niue. The Pitcairn set also has the addition of a 5 cent piece which New Zealand no longer uses.

A majority of Pitcairn Islands coins are minted in New Zealand. But many bullion commemoratives have also been made by the Royal Mint in the United Kingdom and other private mints under the order of the Pitcairn government.

The coin reverses depict as follows:

Elizabeth II is depicted on all coins of the Pitcairn Islands as Head of State and Queen of the United Kingdom of Great Britain and Northern Ireland, of which the Pitcairn Islands are a territory.

See also

References

This article is issued from Wikipedia - version of the 12/1/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.