History has been made with three Pacific Island nations marking the introduction of their own brand new circulating coins at the official coin striking ceremony at the Royal Australian Mint (the Mint). Mint CEO Mr Ross MacDiarmid explained that with the Mint’s assistance and expertise, Cook Islands, Tonga and Vanuatu have embarked on the important journey of coin reform, bringing each country’s coinage system in line with world best practice.
The Parliamentary Secretary to the Treasurer, the Hon Kelly O’Dwyer MP, said this was a significant time for the Royal Australian Mint and the three nations. “These partnerships are an example of how the Australian Government is committed to further strengthening relationships with our Pacific neighbours,” Ms O’Dwyer said. “The Royal Australian Mint has demonstrated how valuable knowledge, technology and production facilities may be shared across borders and they are to be commended for that.” Ms O’Dwyer added.
Mr MacDiarmid explained that the new coins will be launched in each country over the coming months. The three coinage reforms are timed to recognise significant national milestones, namely 50 years of self-government for the Cook Islands, the Coronation of King Tupou VI of the Kingdom of Tonga and the 35th Anniversary of Independence for the Republic of Vanuatu.
Mr MacDiarmid stated that the Mint has a proud record of assisting five countries with coinage reforms in just over three years. “We have been able to assist our neighbours in producing smaller, lighter coins with designs of cultural significance to the people,” said Mr MacDiarmid. “Their new coins are now in line with international trends resulting in lower production costs which translate into savings for the countries.”