Kiribati dollar
Encyclopedia
The dollar is the currency of Kiribati
. It is not an independent currency
but is pegged at 1:1 ratio to the Australian dollar
. Coins
were issued in 1979 and circulate alongside banknotes
and coins of the Australian dollar
.
sterling was chiefly used throughout the islands, though Gilbert and Ellice Islands
banknotes issued in the 1940s were also in use and were redeemable for Pound Sterling at face value.
During Japanese occupation of the islands during World War II, the Oceania Pound, an all banknote currency created by the Japanese Government to be a universal currency for the pacific, was in use. The Australian pound was restored as the official national currency after the war ended.
A call to issue coinage for an independent Kiribati in 1979 was made to legitimize its new political status, and although Australian banknotes would be used, the decision to issue domestic coins was widely favored and accepted.
. they were issued in denominations of 1, 2, 5, 10, 20 and 50 cents, and 1 dollar. Except for the 50 cents and 1 dollar, all of these coins are the same size, weight, and composition as the corresponding Australian coins, with the 1 and 2 cent pieces composed of bronze and the 5, 10, 20, 50, and $1 being composed of cupro-nickel. As usual for other pacific islands, only the lower denominations (1-20 cent) share any commonality, with the largest denominations being unique to their respective countries. The 50 cent piece is round with reeded edges, unlike the dodecagonal (twelve sided) Australian equivalent. The Kiribati 1 dollar is the same twelve sided shape as the Australian 50 cent coin, but it is smaller and oddly enough, weighs about 4½ grams less than both the Australian and Kiribati half dollars. In 1989, nickel-brass 2 dollar coins were introduced coinciding with Kiribati's tenth anniversary of independence and Australia's issuance of their 2 dollar coin and the demonetization of the 2 dollar note. The Kiribati $2 piece is round and larger than the Australian $2 piece, and closer in weight to the Australian $1 piece.
Most Kiribati coins are dated 1979, but with some exception. In 1992, Kiribati began producing 1 and 2 cent pieces in copper-steel clad and 5 cent pieces in nickel-steel clad as production of these denominations began to exceed the face value with the original materials. These coins are distinct in their luster and obvious attraction to a magnet. However, a small mintage of the 1992 issue was struck in bronze. 10, 20, 50, and $1 coins are still minted in cupro-nickel but all newer Kiribati coins, with the exception of only the 1 cent piece, have been restruck off of the original 1979 planchets (coin stamps), so most of the denominations remain as a single date issue.
The obverse of all Kiribati coins depicts the national crest of the republic, while the obverse depict flora, fauna, and items of cultural importance to the islands.
Reverse depictions are as follows:
1 CENT: Christmas Island Frigate Birds
2 CENTS: B'abal Plant
5 CENTS: Tokai Gecko
10 CENTS: Unripened Breadfruit Plant
20 CENTS: Three Dolphins
50 CENTS: Panda Nut Plant
1 DOLLAR: Outrigger Canoe
2 DOLLARS: Traditional Hut and Hibiscus Blossom
Kiribati
Kiribati , officially the Republic of Kiribati, is an island nation located in the central tropical Pacific Ocean. The permanent population exceeds just over 100,000 , and is composed of 32 atolls and one raised coral island, dispersed over 3.5 million square kilometres, straddling the...
. It is not an independent currency
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
but is pegged at 1:1 ratio to the Australian dollar
Australian dollar
The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu...
. Coins
COinS
ContextObjects in Spans, commonly abbreviated COinS, is a method to embed bibliographic metadata in the HTML code of web pages. This allows bibliographic software to publish machine-readable bibliographic items and client reference management software to retrieve bibliographic metadata. The...
were issued in 1979 and circulate alongside banknotes
Banknotes of the Australian dollar
The banknotes of the Australian dollar were first issued on 14 February 1966, when Australia adopted decimal currency.- Former series :The $5 note was not issued until 1967...
and coins of the Australian dollar
Coins of the Australian dollar
Coins of the Australian dollar were introduced on 14 February 1966, although they did not at that time include a one-dollar coin. The dollar was equivalent in value to 10 shillings in the former currency .- Regular coinage :...
.
History
Before independence, Australian coins were used in Kiribati (then called the Gilbert Islands) from 1966 until 1979. Previous to Australia's introduction of the dollar, the Australian poundAustralian pound
The pound was the currency of Australia from 1910 until 13 February 1966, when it was replaced by the Australian dollar. It was subdivided into 20 shillings, each of 12 pence.- Earlier Australian currencies :...
sterling was chiefly used throughout the islands, though Gilbert and Ellice Islands
Gilbert and Ellice Islands
The Gilbert and Ellice Islands were a British protectorate from 1892 and colony from 1916 until 1 January 1976, when the islands were divided into two different colonies which became independent nations shortly after...
banknotes issued in the 1940s were also in use and were redeemable for Pound Sterling at face value.
During Japanese occupation of the islands during World War II, the Oceania Pound, an all banknote currency created by the Japanese Government to be a universal currency for the pacific, was in use. The Australian pound was restored as the official national currency after the war ended.
A call to issue coinage for an independent Kiribati in 1979 was made to legitimize its new political status, and although Australian banknotes would be used, the decision to issue domestic coins was widely favored and accepted.
Coins
Kiribatis first coins were introduced in 1979 following independence and were directly pegged to the Australian dollarAustralian dollar
The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu...
. they were issued in denominations of 1, 2, 5, 10, 20 and 50 cents, and 1 dollar. Except for the 50 cents and 1 dollar, all of these coins are the same size, weight, and composition as the corresponding Australian coins, with the 1 and 2 cent pieces composed of bronze and the 5, 10, 20, 50, and $1 being composed of cupro-nickel. As usual for other pacific islands, only the lower denominations (1-20 cent) share any commonality, with the largest denominations being unique to their respective countries. The 50 cent piece is round with reeded edges, unlike the dodecagonal (twelve sided) Australian equivalent. The Kiribati 1 dollar is the same twelve sided shape as the Australian 50 cent coin, but it is smaller and oddly enough, weighs about 4½ grams less than both the Australian and Kiribati half dollars. In 1989, nickel-brass 2 dollar coins were introduced coinciding with Kiribati's tenth anniversary of independence and Australia's issuance of their 2 dollar coin and the demonetization of the 2 dollar note. The Kiribati $2 piece is round and larger than the Australian $2 piece, and closer in weight to the Australian $1 piece.
Most Kiribati coins are dated 1979, but with some exception. In 1992, Kiribati began producing 1 and 2 cent pieces in copper-steel clad and 5 cent pieces in nickel-steel clad as production of these denominations began to exceed the face value with the original materials. These coins are distinct in their luster and obvious attraction to a magnet. However, a small mintage of the 1992 issue was struck in bronze. 10, 20, 50, and $1 coins are still minted in cupro-nickel but all newer Kiribati coins, with the exception of only the 1 cent piece, have been restruck off of the original 1979 planchets (coin stamps), so most of the denominations remain as a single date issue.
The obverse of all Kiribati coins depicts the national crest of the republic, while the obverse depict flora, fauna, and items of cultural importance to the islands.
Reverse depictions are as follows:
1 CENT: Christmas Island Frigate Birds
2 CENTS: B'abal Plant
5 CENTS: Tokai Gecko
10 CENTS: Unripened Breadfruit Plant
20 CENTS: Three Dolphins
50 CENTS: Panda Nut Plant
1 DOLLAR: Outrigger Canoe
2 DOLLARS: Traditional Hut and Hibiscus Blossom