The Queen is expected to remain on $20 bills issued from existing funds for many years to come. It could be a very long time before there are no more QEII banknotes at all – in 2021, there was still $1.9 million in 10-pound notes in the hands of the public. New Zealand has not used them since 1967. In 1999, New Zealand switched from paper to polymer notes. The change has increased the lifespan of banknotes and has also led to new and improved security features to prevent counterfeiting. The overall design of the banknotes remained unchanged, although slight changes were made to the new security features.  The Reserve Bank spokesman said it would likely take a few years for King Charles to appear on coins, and even longer for $20 bills, given the standard holdings and the rate at which the new currency is issued. From 1. As of January 2021, the $1, $2, $25, $500 and $1,000 notes of each Series of the Bank of Canada will no longer be legal tender. After the death of Queen Elizabeth II in September 2022, the Reserve Bank said it would deplete its existing holdings of twenty-dollar bills before introducing new twenty-dollar notes with King Charles III. Based on current stocks, this would probably be several years away.  The British monarch was not to be seen on any of the banknotes in the first or second edition, as a corresponding engraving of George VI was not available in time.
 The new series was introduced to add more security features to New Zealand banknotes. Since surveys showed that the New Zealand public was generally satisfied with the design of the notes, very few changes were made to the design and the designs remained essentially the same as the Series 5 designs. The notes were lighter in colour and featured the Maori translation of Reserve Bank (Te Putea Matua) and “New Zealand, Aotearoa” on the back.  The new banknotes were slowly filtered as they were only issued when the old returned banknotes were received. Polymer banknotes last four times longer than cotton banknotes and as of July 2018, many banknotes in the sixth series were still in circulation.  The second series banknotes were first issued on February 6, 1940, marking the centenary of the Treaty of Waitangi. The designs were largely developed by a Reserve Bank committee led by Lefeaux with advisers such as Sir James Shelley. The design and colours of the £10 and £50 banknotes were changed and a £10 banknote was introduced. A portrait of Captain James Cook replaced the portrait of King Tāwhiao and Maori iconography was less important than in the second edition, although the king remained on the watermark of the notes and a treaty signature vignette was added to the note of 10/-.    The redesign of the note would have been necessary because when Reserve Bank Governor Don Brash told existing printer Bradbury Wilkinson & Co that the bank was offering to bid for the printing of the banknotes (its highest cost), the company stated that it owned the copyright to the plates.
It was decided to redesign the banknotes to avoid copyright problems. After the tender, Bradbury Wilkinson & Co retained the printing rights, but the price per ticket was significantly lower.  The first New Zealand banknotes were issued on the 1st. It was published in 1934 and signed by the first Governor of the Reserve Bank, Leslie Lefeaux. The first edition was printed by Thomas de la Rue and his London-based company and included banknotes with denominations of 10/- (ten shillings), £1 (one pound), £5 and £50. The banknotes were all the same size: 7 x 3.5 inches (178 mm × 89 mm).  The power to withdraw legal tender from bank notes is one way to remove them from circulation and ensure that Canadians have access to the most up-to-date and secure bank notes. This also ensures that they are always easy to produce, as the most recent banknotes are more recognizable to traders. That $20 bill you may have in your wallet is still as valid as it was last week — and you`ll see notes for a while. New bank notes are being printed in Canada, and the Reserve Bank says an order is only placed every year or every two years – for a large number of bank notes. $1, $2, $25, $500 and $1,000 notes still retain their face value, even if they are no longer legal tender. You can take them to your financial institution or send them to the Bank of Canada to buy back.
The Reserve Bank of New Zealand has announced that all existing coins and $20 notes will remain in circulation with Her Majesty`s legal tender. It would take several years for the coins to be introduced with King Charles III, and longer for the shares of the $20 notes to be sold out. In July 2011, the Reserve Bank of New Zealand announced that a new issue of banknotes would be put into circulation from 2015.   The new five- and ten-dollar notes were released in October 2015, and the new twenty-dollar, fifty-dollar and one-hundred-dollar notes were released in May 2016. The Reserve Bank called the issue the “Brighter Money” series.  Cash is not withdrawn from circulation simply because it shows the Queen. But it will gradually disappear as the banknotes reach the end of their life and new orders are brought in. In general, the Reserve Bank replaces damaged notes as long as they are recognizable.
However, if a coin is missing from a note, it can be paid below its face value depending on the amount of the remaining note.  The drawings were selected by a six-member design committee appointed in 1964 that included Alexander McLintock, Stewart Bell Maclennan and Professor John Simpson, Dean of the Faculty of Fine Arts at the University of Canterbury.  All the notes in this series had Queen Elizabeth II on the front and a watermark of Captain Cook. They also had a New Zealand bird and the plant most closely associated with this species on its back.   The color scheme on all five-dollar notes except the note (which was an entirely new denomination worth £2,10) remained the same on the equivalent pound and dollar notes to ease the transition (for example, £10 and $20 were both green). [Citation needed] New Zealand $20 bills with the image of Queen Elizabeth II. Photo: 123RF New Zealand banknotes contain many security features to prevent counterfeiting.  Newer polymer banknotes also have a distinctive plastic feel and should not tear easily. The Reserve Bank issued seven different issues of New Zealand banknotes; Two editions took place when the New Zealand pound was the national currency, and the remaining five editions have taken place since New Zealand switched to the decimal currency in 1967.
 Some central banks demonstrate banknotes after the revocation of legal tender status, which means that they cease to honor their nominal value. In other words, demonetized banknotes lose their value. The one-dollar and two-dollar bills were discontinued in 1991 and replaced by the one-dollar and two-dollar coins, both gold-colored.  Calls for donations (koha) at an event or other occasion are often formulated as invitations to a “donation of gold coins”. [Citation needed] Today, money is not just banknotes or coins. It takes many different forms, including credit cards, debit cards, checks, and contactless payments that we make with mobile devices. You can pay with any of these forms of money, even if they are not considered “legal tender”. In fact, everything can be used if the buyer and seller agree on the payment method. The Minister of Finance is responsible for the Bank of Canada Act and the Currency Act, and amendments to allow for the withdrawal of legal tender status from bank notes were initiated by the Minister in consultation with the Bank of Canada and other authorities. The Bank fully supports the changes. Old polymer banknotes are destroyed by crushing them, and then the banknotes are recycled into plastic products such as potted plant holders. In late 1981, the Reserve Bank moved to another printing plant, the New Zealand branch of Bradbury Wilkinson & Co, which meant that new printing plates had to be produced.
  The only changes with this series were minor drawing changes and an update to the portrait of Elizabeth II.   Elizabeth II was now looking forward, not left. It is based on a photo by Peter Grugeon in which the Queen wears Grand Duchess Vladimir`s tiara and Queen Victoria`s Golden Jubilee necklace.  The fifty-dollar note was introduced in 1983 as part of this series to bridge the gap between twenty- and one-hundred-dollar notes.  These notes have not been produced for decades, so the decision to remove them from circulation has had little impact on most of us. New Zealand dollar notes are the notes in circulation in New Zealand, the Cook Islands, Tokelau, Niue and the Pitcairn Islands and are based on the New Zealand dollar (symbol: $; Currency code ISO 4217 NZD, also abbreviated NZ$). They are issued by the Reserve Bank of New Zealand and have been made of polymer since 1999.  Prior to 1934, a number of merchant banks issued their own banknotes in New Zealand and were not required to accept banknotes from others. In the 1920s, there was a general desire for a single national currency. As a result, the Reserve Bank was established in 1934 as the sole authority responsible for issuing New Zealand`s national notes, while the New Zealand Ministry of Finance was responsible for issuing new coins.   New Zealand was the last British territory to adopt a national currency.
 “All banknotes and coins issued by the Reserve Bank of New Zealand with images of the Queen continue to have exactly the same status and value as before,” an RBNZ spokesman said. Amendments to the Bank of Canada Act and the Currency Act, passed by Parliament in 2018, gave the Canadian government the power to withdraw legal tender from bank notes, something it could not do before.