New Zealand begins production of 10-cent coin featuring King Charles III

WELLINGTON, May 29 (Xinhua) -- New Zealand has begun producing its first 10-cent coin bearing the image of King Charles III, with circulation expected by 2027, the Reserve Bank of New Zealand (RBNZ) said on Thursday.

Photos released show the final approved coin, which has undergone quality checks for design, weight, size, and security features, marking the first update to New Zealand's coinage since the passing of Queen Elizabeth II in September 2022, according to a RBNZ statement.

Other denominations -- 20 cents, 50 cents, 1 dollar, and 2 dollars -- featuring the new monarch are expected to begin production around 2027 and enter circulation roughly two years later, the statement said.

Existing coins and 20-dollar notes featuring Queen Elizabeth II remain legal tender, RBNZ said, adding it does not plan to withdraw them early, citing environmental and economic concerns. Enditem