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| Unit | |
|---|---|
| Plural | |
| Symbol | £ |
| Denominations | |
| Subunit | |
| 1⁄20 | shilling |
| 1⁄240 | penny |
| Plural | |
| penny | pence |
| Symbol | |
| shilling | s or /– |
| penny | d |
| Coins | 1⁄2d, 1d, 3d, 6d, 1/– |
| Demographics | |
| User(s) | Territory of New Guinea |
| Valuation | |
| Pegged with | Australian pound at par |
| This infobox shows the latest status before this currency was rendered obsolete. | |
Thepound was the currency of theAustralianTerritory of New Guinea between 1915 and 1966, and replaced theNew Guinean mark when Australia occupied the formerGerman colony at the end ofWorld War I. The New Guinean pound was subdivided into 20shillings, each of 12pence, and was equal to theAustralian pound.
No banknotes were ever issued; all denominations larger than one shilling were Australian currency.
TheAustralian pound currency circulated alongside coins issued specifically for New Guinea between 1929 and 1945.[1] New Guinean coins ceased to be produced in 1945.
Between 1942 and 1945, theOceanian pound circulated, issued by theJapanese occupiers. Australian coins and banknotes resumed circulation after the war and continued until thePapua New Guinean kina, which was introduced on 19 April 1975, replaced theAustralian dollar at par. The Australian dollar continued to be legal tender in PNG until 1 January 1976 when it was withdrawn.
In 1929, nickel halfpennies and pennies, as well as cupro-nickel pennies were introduced. These (as well as all subsequent New Guinean coins) were holed. The inscription on thereverse read:Georgius V. D G Rex et Ind. Imp., which translates from Latin as, "George the Fifth, by the Grace of God King andEmperor of India". The inscription on the obverse readsTerritory of New Guinea. These coins are extremely rare, as they were withdrawn shortly after being released.
These coins were followed in 1935 by threepences, sixpences and shillings.
The following year, pennies were minted depictingKing Edward VIII. That was relatively rare because Edward abdicated less than eleven months after succeeding to the throne, meaning that mostDominions and colonies which featured the British monarch on their currency had not yet redesigned their coins. Coins of varying denominations were minted under the reign ofGeorge VI, beginning in 1938. In 1945, production of New Guinean coins ceased untilPapua New Guinea started circulating its own currency (Papua New Guinean kina) in April 1975.
| Preceded by: German gold mark Ratio: at par | Currency ofNew Guinea 1915 – 1942 Concurrent with:Australian pound | Succeeded by: Oceania pound Reason: Japanese occupation Ratio: par |
| Preceded by: Oceania pound Reason: Liberation from Japanese occupation | Currency ofNew Guinea 1945 – 1966 Concurrent with:Australian pound | Succeeded by: Australian dollar Reason:decimalisation Ratio: 2 dollars = 1 pound |
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