Design of $10 millennium bank note unveiled

News Release

Date: 15.09.99

The Reserve Bank today unveiled the design of a special $10 bank note to commemorate the new millennium.

The $10 millennium bank note depicts New Zealand's development into the digital age and some of the recreational pursuits that make New Zealand special. It was designed by graphic design company Cue Design Limited.

The millennium bank note will be printed on the same flexible polymer plastic as the $20 and $100 notes that are currently in circulation.

Reserve Bank Currency Department Chief Manager Brian Lang said today, “Primarily, this bank note is a celebration of New Zealand moving into the new millennium. However, another key objective in releasing it is to gauge public reaction to new security features, which we will test for future use with our other plastic bank notes.

“People will notice that there is no portrait of a well-known person on this note. Historically, having a face depicted on a bank note made the note much harder to forge. This is because, from infancy, people are able to detect even small differences in faces. Having a portrait on bank notes thus used to make things difficult for forgers.

“However, these days, scanning technology means that faces and other visual details can be replicated sufficiently accurately to deceive the eye. This is one of the reasons that bank note manufacturers have had to include more sophisticated anti-counterfeiting features on notes. The $10 millennium bank note will incorporate some of these new and innovative security features, details of which will be released closer to the time the notes are available.

“In total, two million of these special notes will be printed. Five hundred thousand are earmarked for sale in commemorative packs and 1.5 million notes will go into general circulation alongside existing design notes. Commemorative packs should be available in late October and circulating notes will be available early next year”, Mr Lang concluded.

Information on how the commemorative bank note packs will be marketed is attached. The notes issued into general circulation early next year should be available from bank branches around the country at that time.

For further information contact:

Lisa Weekes

Communications Officer

Phone 04 471 3767, pager 026 103 787

Email weekesl@rbnz.govt.nz