History of Currency

Hey everyone, this week post is about the history of New Zealand currency system. Between the 1840s and the 1850s there was an extreme coin shortage in New Zealand. The reason for this was because the first governor of New Zealand, Captain William Hobson, allowed British standard for gold, silver, and bronze to circulate with foreign bills in New Zealand. This caused the value of the gold standard to become lower. In 1933 the New Zealand Numismatic Society addressed this problem of the shortage and the smuggling of these coins into New Zealand. The New Zealand Numismatic Society said the country should switch to a decimal coin system.
Some coins introduced were the half-coin and florin. These days New Zealand economy uses coins and dollars. Since previous years there have been many acts adding and changing the currency. One interesting fact is one New Zealand dollar is about 70 cent compared to the United States of America. Hope this post was interesting.