Banknotes of the New Zealand dollar

[2] The first New Zealand banknotes were released on 1 August 1934, signed by the first Governor of the Reserve Bank, Leslie Lefeaux.

The first issue was printed by Thomas de la Rue and his company based in London, and included notes with the denomination of 10/- (ten shillings), £1 (one pound), £5 and £50.

The designs were largely developed by a Reserve Bank Committee led by Lefeaux with consultants including Sir James Shelley.

[2][3][4] The British monarch did not feature on any of the first or second issue banknotes, because an appropriate engraving of George VI was not available in time.

[citation needed] In late 1981 the Reserve Bank switched to a different printer, the New Zealand branch of Bradbury Wilkinson & Co, which meant that new printing plates had to be made.

[2][4] A notable feature of the new series was the inclusion of the portrait of Sir Edmund Hillary on the front of the five-dollar note.

[4][7] The banknote redesign was reportedly required because when the Reserve Bank governor Don Brash told the existing printer, Bradbury Wilkinson & Co, that the bank proposed to put the printing of banknotes (its largest cost) out to tender, the firm said that they owned the copyright on the plates.

The change increased the life of the banknotes and also allowed new and improved security features to prevent counterfeiting.

[2] The Reserve Bank issued another special edition of the ten-dollar note in 1999 to celebrate the new millennium in New Zealand.

[9] In July 2011, the Reserve Bank of New Zealand announced that a new issue of banknotes would be released for circulation from 2015.

The notes were brighter in colour and featured the Māori translation of Reserve Bank (Te Pūtea Matua), and "New Zealand, Aotearoa" on the back.

All decimal banknotes issued since 1967 remain legal tender except one-dollar and two-dollar notes, which were withdrawn in 1991.

For example, if a banknote with over two-thirds of its original size is presented, the bank shall provide the customer with its full value.