Last Updated on July 3, 2022
The reverse side of the 1942 New Zealand penny depicts King George VI, with the surrounding legend “GEORGE VI KING EMPEROR.”
The tui bird is perched on a budding kowhai limb in the reverse of the 1942 New Zealand penny. Around the main design are the words “NEW ZEALAND ONE PENNY,” with a date below.
How Much is New Zealand 1942 One Penny Worth?
The value of the 1942 New Zealand penny varies greatly at retail, with values ranging from $2.50 to well over $425 depending on the degree of wear, demand, and availability in that particular condition of preservation.
The Beginning of New Zealand Coins
In early 1840, Captain William Hobson, RN, the colony’s very first governor, enacted British legislation throughout New Zealand. As a result of his actions, several provisions of the Imperial Coinage Act of 1816 (UK) were extended to the new territory.
When the gold standard was abandoned in 1890, New Zealand’s monetary system became anchored on gold. The act of 1858 made English currency legal tender according to the rules mentioned above.
Throughout the 1840s and 1850s, there was a severe lack of currency, particularly copper coins. Traders attempted to alleviate the problem by printing low-value paper notes, but this quickly stopped.
Instead, in the 1850s, businesses in Auckland and Dunedin began issuing copper tokens. There were 48 merchants, mostly shopkeepers, who produced their own penny and half-penny coins. This custom persisted until 1881, when it began to fade away in the 1890s.
When Did New Zealand Started Issuing its Own Currency?
In 1933, the coin smuggling and a scarcity of lower-value coins necessitated action. It was decided that New Zealand’s money would be printed by a single bank.
The New Zealand Numismatic Association pushed for a decimal currency system that would be used by the people and even their top online casinos have adopted it to get the money flowing.
In 1933, however, a special New Zealand currency with a fractional system was introduced (similar to sterling). The new coins’ weights, sizes, and values were all the same as those of British money.
The Royal Mint’s first British standard bronze coins, the penny and half-penny, were not legal tender until December 22nd, 1939. These were produced in celebration of New Zealand’s centennial in 1940.
Are Old NZ Coins Worth Anything?
The Reserve Bank of New Zealand began a public information campaign concerning the new coins in 2006, including a website, newcoins.govt.nz. This website was taken down in 2012.
Where are coins minted?
The Royal Mint in the United Kingdom creates New Zealand’s $1 and $2 coins. The Royal Canadian Mint produces 10 cents, 20 cents, and 50 cent coins. In the past, the Bank has worked with the Royal Australian Mint, the Norwegian Mint, and the South African Mint.
How to Know if A Coin is Worth Big Money?
If you’re new to coin collecting, it’s a good idea to learn everything there is to know about coins. Pick up the “Blue Book,” an annual printed Guide Book of United States Coins, which contains information on the value of your coins.
The values in the Blue Book are more comparable to selling prices than those in the Red Book. The Red Book typically records higher retail figures that most dealers and coin buyers would be willing to pay.
The value of your collection is revealed right in front of you. You’ll discover many coins that are worth at least $100, such as the 1804 Seated Liberty Half Eagle and the 1798/7 Capped Bust Silver Dollar.
A curious bit of information is that the retail cost of this book is not what it costs at coin dealers, but rather the wholesale value.
Search for Errors
Every little change can make a coin more valuable than its face value. You’ll want to search for die cracks and missing components, paying close attention to the words printed on the coin as well as the images’ edges. Strike problems such as doubling, fractures, and gaps are all typical mistakes that may boost a coin’s worth.
Errors are fascinating simply because a coin may have an error; it all depends on what the error is, and many to most error coins are not particularly valuable. And just because you found something on the internet doesn’t necessarily indicate true real-world value, and many times it’s exaggerated.
It’s best to have mistakes and value settled by a third-party authenticating agency like NGC or PCGS to grade and authenticate your coins. These companies charge a fee per coin and must be members in order to forward their coins.