New Zealand's most expensive coin sells out

23 June 2010

New Zealand's most valuable legal tender coin, retailing at $2,650 each, has been snapped up within four months of its release.

Featuring a heitiki and huia feathers, the one ounce pure gold coin has a $10 denomination and was issued by New Zealand Post in February 2010. Only 500 coins were minted.

James Te Puni, Marketing and Commercial Director for Stamps, Coins and REAL Aotearoa, said: "Traditional Maori icons are becoming increasingly popular in international and domestic markets. This gold coin has clearly been very well received and demand continues to be high following the sell-out. We've noticed considerable activity on the secondary market, including listings for the coin, at a significant premium, on the international online trading platform Ebay."

The heitiki on the coin was carved by internationally renowned Maori artist Raponi (Ngati Rangitihi and Tuhourangi), and was presented in a waka huia (treasure box), specially designed by Warren McGrath, Tohunga Whakairo (master carver) to the Maori King.

New Zealand Post also released a $1 denomination pure silver proof version of the heitiki coin, which retails at $129.00 each.

The obverse side of the coin feathers a portrait of Her Majesty Queen Elizabeth II by Ian Rank-Broadley, of England.

Note: New Zealand Post is authorised by the Reserve Bank of New Zealand as the only official issuer of legal tender New Zealand commemorative coins.