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Tokelau (/ ˈ t oʊ k ə l aʊ / ⓘ; lit. ' north-northeast ' or ' north wind '; [7] known previously as the Union Islands, and, until 1976, known officially as the Tokelau Islands [8]) is a dependent territory of New Zealand in the southern Pacific Ocean. It consists of three tropical coral atolls: Atafu, Nukunonu, and Fakaofo.
The new silver coins were expected to flow into the Treasury in exchange for gold under this arrangement, but the government refused to implement the law until forced to by the Supreme Court. To avoid a financial panic, major private banks and businesses agreed to exchange gold for the new silver coins, in which there was little public confidence.
Bullion coins are government-minted, legal tender coins made of precious metals, such as gold, palladium, platinum, rhodium, and silver. They are kept as a store of value or an investment rather than used in day-to-day commerce. [1]
Although coin collecting is intended to be a fun, interesting and potentially lucrative hobby, it's also a big business -- and like any form of trade, there's always someone out there who'll try to...
By the 1920s there was a general desire to have a single, uniform national currency. Accordingly, the Reserve Bank was established in 1934 as the sole authority for issuing New Zealand's national banknotes, while the New Zealand Treasury had responsibility for issuing new coins. [2] [3] New Zealand was the last Dominion to establish a national ...
Silver coins are one of the oldest mass-produced form of coinage. Silver has been used as a coinage metal since the times of the Greeks; their silver drachmas were popular trade coins. The ancient Persians used silver coins between 612–330 BC. Before 1797, British pennies were made of silver.
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