The New Zealand threepence is a coin of the New Zealand pound issued from 1933 to 1965. Equal to three pence, the coin was the smallest in size of all New Zealand pound coinage, and the smallest in denomination of the initial 1933 issue of New Zealand pound coinage, produced due to shortages of British silver coins resulting from the devaluation of local currency relative to the pound sterling. British artist George Kruger Gray designed the coin's reverse design after an earlier pattern design featuring a hei-tiki was rejected by a coinage design committee organised by Gordon Coates. It features two crossed patu (ornamental Māori clubs) below the label "3d". Initially struck in silver by the Royal Mint, it was struck in cupronickel from 1947 onward due to rising precious metal prices. Following decimalisation in 1967, the threepence was replaced by the coinage of the New Zealand dollar.
British threepence first circulated in New Zealand during the early 19th century alongside various other silver coinage, including American, Spanish, French, and Dutch issues alongside other British silver denominations. The British pound sterling was confirmed as the sole legal tender in 1858,[1] but had in effect been the sole circulating currency since 1847.[2] Australia began issuing its own coinage in 1910, including the Australian threepence. Widespread circulation of the Australian silver coinage in New Zealand began in 1930, when Australia devalued the Australian pound relative to the pound sterling. Large amounts of the devalued Australian currency began to flood into New Zealand, eventually making up 30–40% of all coinage in circulation by early 1933. The counterfeiting of silver coins also increased during this period.[3]
New Zealand followed in devaluing the New Zealand pound in 1933, triggering mass smuggling of silver coinage to Britain and its other colonial possessions. After several decades of proposals, the New Zealand government pursued the creation of a domestic coinage the same year.[4] The Coinage Act 1933, outlined the weights and sizes of the six denominations of New Zealand silver coinage, defining the threepence as a coin weighing 1.41 grams, with a silver fineness of .500.[5] The coin was worth one quarter of a shilling. Although domestic firms offered to produce the coinage, the New Zealand government deemed that domestic facilities were not sufficient for mass production, and contracted with the Royal Mint for minting.[6]
All coinage obverses from the initial 1933 issue featured a crowned bust of George V designed by Royal Mint designer Percy Metcalfe, initially for use on the Southern Rhodesian pound. This was based on an older crowned bust by Australian sculptor Bertram Mackennal, used on the coinage of other British colonies and dominions. Reverse designs were a matter of collaboration between the Royal Mint Advisory Committee, headed by Deputy Master Robert Johnson, and the New Zealand government. Local artists and members of the New Zealand Numismatic Society were consulted throughout the design process, but British designers were tasked with creating an initial series of designs, despite requests from local art societies for domestic artistry of the coins. Metcalfe and George Kruger Gray were experienced artists who had each previously designed coinage for several other British dominions and colonies. The two were tasked to submit designs for each of the five initial silver denominations of coinage.[7][8]