What you need to know
What can I return?
You can exchange old banknotes or coins that are no longer legal tender, or banknotes that are damaged or incomplete (have pieces missing) which can't be used for payment.
- If you're exchanging an incomplete banknote, we will only reimburse you a certain value if you have at least more than one-third of the banknote. As a general rule, we will pay half the value of the banknote if you have between one-third and two-thirds of the banknote. If you have two-thirds or more of the banknote, we'll pay you the full value of the note.
- Contact a numismatic dealer if you think the banknotes or coins may be worth more than face value.
- We don't accept foreign currency.
How to make a claim
- Fill in this claim application form if you have a New Zealand bank account, or this claim application form if you have an overseas bank account.
- Separate coins by size and denomination before returning.
- When lodging a claim for incomplete or heat damaged bank notes, collect as much bank note material as possible to help with our assessment of your claim.
- When your banknotes are showing signs of disintegration, handle them with care and package carefully to prevent further loss of bank note material.
- Contaminated currency should be sealed in a bag or container to allow safe handling, with the type of contamination written clearly on the outside and described in the claim form.
How do I value my claim?
- The value of your claim is calculated using our decimal system.
- If you return pre-decimal banknotes or coins, you can use the conversion table to decimal value below.
- We do not offer advice on the value of banknotes and coins as collectable items.
| Coins | Notes | |||
|---|---|---|---|---|
| Half Penny | 24 needed to make 10 cents | Ten Shillings | 1 needed to make $1 | |
| Penny | 12 needed to make 10 cents | 1 Pound | 1 needed to make $2 | |
| Three pence | 4 needed to make 10 cents | 2 Pound | 1 needed to make $4 | |
| Six pence | 2 needed to make 10 cents | 5 Pound | 1 needed to make $10 | |
| Shilling | 1 needed to make 10 cents | 10 Pound | 1 needed to make $20 | |
| Florin | 1 needed to make 20 cents | 20 Pound | 1 needed to make $40 | |
| Half Crown | 1 needed to make 25 cents | 50 Pound | 1 needed to make $100 | |
| Full Crown | 1 needed to make 50 cents |
What you need to do
1. Print and complete by the claim application form or fill it in electronically, then print it out and sign it.
2. Bring the completed form and your old or damaged cash with you to our office on 2 The Terrace in Wellington.
3. Tell the reception staff how much money you are exchanging and they will help you with your claim.
What you need to do
Send your old or damaged or damaged cash with the completed application form in a tracked parcel by courier to:
Reserve Bank of New Zealand
2 The Terrace
Wellington 6011
New Zealand
Old or damaged cash are sent at your own risk. You must pay the total cost of sending the banknotes and coins to us.
*Only send old or damaged cash in an envelope to our postal address if the value of the claimed amount exceeds the cost of tracking.
How and when do I get paid?
- We will pay out claims to a valid bank account only.
- Banknotes and coin returns may take up to 20 working days to process.
How to contact us
If you have any questions about your claim, you can contact us:
- by phone: +64 4 472 2029
- by email: [email protected]
If you have an overseas bank account, your bank and the Reserve Bank’s trading bank may charge you overseas transaction fees. If your claim value is less than the sum of these transaction fees, you will not receive a payment for your claim.
You can choose to donate your claim to charity, particularly if your claim is for a small amount (less than NZD25). You can indicate this on the form.
- To donate the claim amount to the New Zealand Red Cross (international work) - www.redcross.org.nz
- To donate the claim amount to UNICEF New Zealand (international work) - www.unicef.org.nz
What is legal tender?
Our banknotes and coins stop being legal tender when we call them in (demonetise) or withdraw them from circulation.
We will always pay face value for currency that has been legally issued for use in New Zealand but has ceased to be legal tender (including pre-decimal currency).
Read our explainer on legal tender
Buying banknotes and coins from us
We only issue banknotes and coins to the retail banks. We don't sell new or old banknotes and coins directly to the public.