Description and research notes
The 1967 one-dollar note represents the inaugural circulating issue of New Zealand’s decimal currency system, introduced in July 1967 to replace the long-standing sterling-based structure. This example bears the signature of Roderick Ninian Fleming, issued during the ND (1967–1968) period, marking the first Chief Cashier to appear on the decimal series. Fleming’s tenure, extending until 1969, defines a narrow production window at the very beginning of New Zealand’s modern monetary era.
Printed by Thomas De La Rue & Company, London, the note reflects the firm’s mid-twentieth-century mastery of intaglio engraving and guilloche design. The obverse features Queen Elizabeth II in a formal portrait composition, while the watermark of Captain James Cook reinforces the historical continuity between New Zealand’s colonial past and its modern national identity. The one-dollar denomination replaced the ten-shilling note, becoming the foundation of everyday transactional currency within the new decimal framework.
Unlike specimen issues prepared for institutional distribution, this note is a fully issued circulation example, retaining its original serial IB563273 and standard production characteristics without cancellation markings. Its preservation at an exceptional level allows for full appreciation of De La Rue’s engraving precision, ink clarity, and paper quality.
As an issued example from the ND (1967–1968) Fleming signature period, this note captures the earliest phase of decimal circulation in New Zealand. The limited duration of the Fleming signing window, combined with high-grade preservation, contributes to its significance within the series.
Graded PMG 67 EPQ Superb Gem Uncirculated, this note stands at the top of the PMG population for the type, with only a small number of examples reaching this grade and none certified higher at the time of cataloging. The Exceptional Paper Quality designation confirms full originality, undisturbed paper fibers, and complete embossing as produced. In this state of preservation, the note transcends its role as a circulating instrument and becomes a reference-level example of New Zealand’s first decimal issue.