Special security features on millennium $10 bank note a world first

News Release

Date: 11.11.99

The Reserve Bank today released to collectors the special $10 bank note commemorating the new millennium. At the same time, the Bank revealed two features at the cutting edge of bank note security.

Reserve Bank Currency Department Chief Manager Brian Lang said today, “This bank note will be printed on the same flexible polymer material used for our new circulating notes, with a design that celebrates New Zealand moving into the new millennium. A key objective in releasing the note is to gauge public reaction to the new security features and test their effectiveness, with a view to perhaps incorporating the features in future issues of our circulating notes.

“The special security features on the millennium $10 bank note are world firsts. The most obvious feature is the two silver ferns within the clear window, which reflect rainbow colours when the note is tilted to the light. The other feature isn’t so obvious at first glance. When you fold the note over and look at the map of New Zealand on the back of the note through the clear window, the letters “Y2K” become visible on the North and South Islands. The letters can only be seen with the use of the filter incorporated in the note's clear window.

“These innovative security features are in addition to the standard security features on our other polymer bank notes. 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 these more sophisticated anti-counterfeiting features on notes,” Mr Lang concluded.

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 collectors' edition millennium $10 bank notes will have some unique features that will not appear on the 1.5 million millennium notes that the Reserve Bank will release into general circulation early next year. They have a special overprint of the Reserve Bank’s Coat of Arms on the front of the note and the serial numbers are printed in red and have a distinctive “NZ” prefix.

More detailed information on the special security features and details of how people can get hold of the commemorative packs are below.

For further information contact:

Lisa Weekes

Communications Officer

Phone 04 471 3767, pager 026 103 787

Email weekesl@rbnz.govt.nz

Security features

The specially designed $10 millennium bank note is printed on the same polymer material (a type of plastic) that is being used for all of New Zealand’s circulating notes. The millennium note includes many of the security features that are common to our other bank notes, such as:
a clear window area;

a watermark (or shadow image);

intaglio (raised) printing;

micro lettering;

a matching see-through feature on both sides of the note; and

fluorescent ink features.

The millennium $10 note also contains two new security features, which are firsts in bank note security technology.

Diffraction Optically Variable Device (DOVD)

The DOVD, which can be viewed from both sides of the note, is a de-metalised aluminium coating in the shape of two silver ferns within the clear window area. A major characteristic of the DOVD is that the colour changes as the viewing angle is varied. Different rainbow patterns are produced as the DOVD is tilted to the light. Also, under magnification the DOVD reveals tiny silver fern images and the text NZ 2000.

Screen Angle Modulation (SAM)

This is a sophisticated and complex security feature, which changes certain visual images by the use of a filter and digitised tone and line images. In the centre of the clear window area is a built-in filter or screener. When the note is folded so that the window within the DOVD is placed over the image of New Zealand on the back of the note, the letters Y2K become visible.

Where to buy

Commemorative packs of the millennium notes can be purchased from Monday 15 November 1999 by:

telephoning 0800 4NOTES (0800 466 837) or 0800 4COINS (0800 426 467);

going into American Express foreign exchange bureaux in Auckland, Wellington and Christchurch;

contacting the Reserve Bank of New Zealand’s Collectors’ Currency Section, 2 The Terrace, PO Box 2498, Wellington. E-mail collectors@rbnz.govt.nz, fax 04 471 0313; or

mail order from MoneyWorld New Zealand 2000 Ltd, PO Box 5840, Wellesley Street, Auckland.

The packs available are:

a single note in a colourful cheque-book style wallet with full descriptive details: NZ$19.00;

a single note in a fully illustrated folder with descriptive details: NZ$19.00;

an uncut pair of notes in a fully illustrated folder with descriptive details: NZ$37.00;

an uncut sheet of 20 notes in a stylish protective tube with Certificate of Authenticity: NZ$345.00.

All prices include GST, but a charge for postage and packing of NZ$4-00 per order will be added for mail order requests.