Guest Corey M Posted September 26, 2014 Share Posted September 26, 2014 Q: Which worldwide event of the last 25 years prompted the Reserve Bank of New Zealand to destroy over $2.6 million dollars of its currency? Our first place winner will receive a coupon for 1 note graded under the Standard grading tier. (You must have an active account with PMG,call PMG for details) There will also be a runner up prize given to someone with the correct answer. REMINDER: The Numisma-Quest ends on Saturday at midnight EST. Entries after that time will not be valid. See the Trivia info post for more details. Good luck everyone and have a great weekend! Link to comment Share on other sites More sharing options...
dan8402 Posted September 26, 2014 Share Posted September 26, 2014 The notes were kept in reserve in case Year 2000 (Y2K) fears were realized. The demand for the notes never arose, and with the phasing out of there paper noted in favor of polymer notes, they were destroyed. Link to comment Share on other sites More sharing options...
wdrob Posted September 27, 2014 Share Posted September 27, 2014 Advances in use of polymer in money usage. Link to comment Share on other sites More sharing options...
Coindude Posted September 27, 2014 Share Posted September 27, 2014 Earthquake? Link to comment Share on other sites More sharing options...
SamD Posted September 27, 2014 Share Posted September 27, 2014 It was Y2K related. RBNZ kept a large amount in reserve in case Year 2000 fears led people to withdraw large amounts from banks during the last few weeks of 1999. It didn't happen, so the currency was destroyed. Link to comment Share on other sites More sharing options...
Guest Corey M Posted September 29, 2014 Share Posted September 29, 2014 A: The Y2K scare was cause for concern not only in the world of technology, but also among treasuries, as evidenced by New Zealand’s actions. The notes in question were printed as a precaution in case of mass hoarding by Kiwi residents. Congratulations to our winner Dan8402 and runner up SamD. Stay tuned for NGC's question on Friday! Link to comment Share on other sites More sharing options...
