I've asked a few of our money smarts people, via PM
about this enigma. No one really seems to have the
answer, so far. Yours?
Let's start with this statement:
"I can tell you that the price per unit (Coin or Note) is
less than the face value for each."
A reasonable extrapolation from that statement is that
a five dollar note costs less than five dollars to print.
Given that there is only a slight difference in sizes, it
seems fair to presume that a $100 note also costs
less than $5.
Then let's move on to this statement:
"They place an order with us for various denominations
and prior to delivery being made the bank concerned
pays us the full face value by electronic transfer."
E-transfer of what? While that may have some import,
the nub is simple: The NZ government, via the RBNZ
gets a $100 real-time, 100c-in-the-dollar payment for
an item that can not have cost more than $5, given the
RBNZ statement.
Now that's SOME capital gain! CGT, anyone?
Is this another part of the currency scam unfolding?
Or am I missing something simple or complex, here?
about this enigma. No one really seems to have the
answer, so far. Yours?
Dear Perry,
Thank you for your enquiry,
You have asked about the cost of manufacturing currency.
I am sorry, but unfortunately we are not able say what the
manufactured price is as that information is commercially
sensitive. Other companies ( mints and note printers )
around the world would all like to know how much it
costs New Zealand to produce its notes and coins.
The companies that makes our currency have also asked
us to keep the price private.
I can tell you that the price per unit (Coin or Note) is
less than the face value for each. This means that a 10
cent coin costs less than 10 cents to make. The same
is true for all the denominations.
The total cost of manufacturing, packaging and sending
currency to New Zealand is all included in the price
we pay.
In response to your enquiry on issues, the notes and
coins are issued only to New Zealand registered trading
banks. They place an order with us for various
denominations and prior to delivery being made the
bank concerned pays us the full face value by
electronic transfer.
I trust this information is helpful
Manager Currency Operations
Reserve Bank of New Zealand
Thank you for your enquiry,
You have asked about the cost of manufacturing currency.
I am sorry, but unfortunately we are not able say what the
manufactured price is as that information is commercially
sensitive. Other companies ( mints and note printers )
around the world would all like to know how much it
costs New Zealand to produce its notes and coins.
The companies that makes our currency have also asked
us to keep the price private.
I can tell you that the price per unit (Coin or Note) is
less than the face value for each. This means that a 10
cent coin costs less than 10 cents to make. The same
is true for all the denominations.
The total cost of manufacturing, packaging and sending
currency to New Zealand is all included in the price
we pay.
In response to your enquiry on issues, the notes and
coins are issued only to New Zealand registered trading
banks. They place an order with us for various
denominations and prior to delivery being made the
bank concerned pays us the full face value by
electronic transfer.
I trust this information is helpful
Manager Currency Operations
Reserve Bank of New Zealand
"I can tell you that the price per unit (Coin or Note) is
less than the face value for each."
A reasonable extrapolation from that statement is that
a five dollar note costs less than five dollars to print.
Given that there is only a slight difference in sizes, it
seems fair to presume that a $100 note also costs
less than $5.
Then let's move on to this statement:
"They place an order with us for various denominations
and prior to delivery being made the bank concerned
pays us the full face value by electronic transfer."
E-transfer of what? While that may have some import,
the nub is simple: The NZ government, via the RBNZ
gets a $100 real-time, 100c-in-the-dollar payment for
an item that can not have cost more than $5, given the
RBNZ statement.
Now that's SOME capital gain! CGT, anyone?
Is this another part of the currency scam unfolding?
Or am I missing something simple or complex, here?
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