Gold Price New Zealand
New Zealand is located in the southwest Pacific Ocean. The country is comprised of two major land masses, the North Island and the South Island, in addition to hundreds of smaller islands. New Zealand was one of the last places to be settled by humans, and as such it developed a very distinct biodiversity. The nation is widely considered to have a very beautiful landscape and topography, which may be attributed to volcanic activity in the area. The capital of the country is Wellington, although its most populous city is Auckland. English is the primary language spoken in the country, and its government is a unitary parliamentary constitutional monarchy.
The official currency of New Zealand is the New Zealand Dollar. In addition to the mainland, the currency is also legal tender of the Cook Islands, Niue, The Ross Dependency, Tokelau and the Pitcairn Islands. The currency is commonly referred to as the “kiwi,” the indigenous bird that is symbolic of the nation.
The kiwi was introduced in 1967, and like other major global currencies can be subdivided into 100 smaller units of currency called cents. The kiwi is one of the most heavily traded currencies in the world.
The New Zealand Dollar is issued and controlled by the Reserve Bank of New Zealand. The nation’s central bank was established in 1934 and is tasked with other responsibilities in addition to currency management such as conducting monetary policy and managing the nation’s banking system.
If you are looking to buy gold in New Zealand, you will likely see live gold prices quoted in the local currency. Prices may also be available in other major global currencies such as U.S. Dollars, Japanese Yen, Great British Pounds or euros. Gold is typically quoted by the ounce, gram and kilo.
New Zealand has an abundance of natural resources, and mining makes a substantial contribution to the nation’s economy. Resources that are available in the country include iron ore, coal, silver, gold and limestone.
The New Zealand Mint produces numerous gold and silver bullion products as well as collectible coins. The mint sells the 1 ounce Gold Kiwi Bullion coin. This gold bullion coin contains 1 troy ounce of 999.9 percent fine gold, and its reverse features the country’s iconic flightless bird: the kiwi. The coin’s obverse features the four stars of the Southern Cross, and the word Aotearoa, the Maori name for New Zealand. Coins like this can make an excellent addition to any collection or portfolio, and often carry very reasonable premiums over spot. Coins can be easily transported and stored in a safe, a bank safe deposit box or in the depository of your choice.
The mint also offers numerous other coin and bullion products, many of which have been made by its neighbor, the Perth Mint. If you are looking to acquire as much gold as possible, bullion bars and coins may provide the best overall value and most reasonable premiums above spot. Bars may be available in numerous fractional sizes as well, making them relatively more affordable for investors on a tight budget.