Description and research notes
Perforated specimen of the inaugural 1967 hundred-dollar issue bearing the signature of R.N. Fleming, the first Chief Cashier to appear on New Zealand’s decimal currency. Fleming’s signing period lasted barely two years—from the currency’s introduction in July 1967 until his retirement in 1969—making any surviving hundred with his name historically significant. These notes were printed by Thomas De La Rue & Company, London, using classic intaglio and guilloche techniques refined during Britain’s own post-war banknote reforms.
Unlike the overprint presentation type, this piece has the legend 'SPECIMEN OF NO VALUE' perforated across the design and no ink overprint or colored stamp. Perforated specimens were held internally by De La Rue for record and archival verification rather than distributed to correspondents. Their survival rate is extremely low, as most were destroyed once the next signatory—R.L. Knight—assumed office.
The 1967 hundred carried both symbolic and logistical weight: it was the highest denomination of the decimal launch, equal to fifty pounds in pre-decimal terms, and intended primarily for institutional and reserve use. PMG 64 Choice Uncirculated, with crisp paper and deep crimson tones, this specimen captures a fleeting intersection of technological modernization, national identity, and one of the shortest Chief Cashier tenures in New Zealand’s numismatic history.