Explaining Currency: New Zealand's bank notes and coins

Serial numbers are then added to the notes using a letterpressprinting process. In the current note series, each serial numberconsists of a prefix of two letters followed by eight numbers.The first two of these numbers indicate the year the notewas manufactured.During the final print run, the notes are given two coats of aprotective overcoating varnish using an offset printing press.To start with, two layers of ink (usually white) are applied toeach side of the clear film, except for areas which aredeliberately left clear, or areas where the ink is printed onone side of the note only. This stage of the process is calledopacifying.The next stage is sheeting. This is where the opacifiedsubstrate is cut into large sheets ready for feeding into thenote printing presses.“Simultan” printing machines print the background coloursand patterns onto the polymer. As the name suggests, bothsides of the notes are printed at the same time, at up to8000 sheets per hour. Major design elements are printedusing intaglio printing machines during which ink is appliedto the polymer under great pressure. This gives the notestheir raised printing, which is one of the security features ofpolymer notes. Separate print runs are required for eachside of the note.This overcoat makes the notes more durable, as it protectsthe printing, and helps to keep the notes clean.The completed sheets of notes are examined for faults.Imperfect sheets are marked with a machine-readable inkfor removal later in the process. Printed sheets are guillotinedinto individual notes, which are then placed into containersin alpha-numerical order and transported to computercontrolledmachines for final counting and banding. Thefinished notes are then shrink-wrapped, placed on palletsand stored in a strongroom.Finally, the finished bank notes are shipped to the ReserveBank of New Zealand for distribution to banks. From there,the notes are made available to customers from tellers andthrough cash machines, and the notes start their life in generalcirculation. Bank notes usually find their way back into abank and are then sorted in machines that count and checkfor counterfeits and damaged notes. The good notes arebundled back up again and recirculated, while damaged notesare discarded for granulating and recycling.Explaining Currency: New Zealand’s bank notes and coins 5