New England Online > Economy > Currency of New England
Currency of New England
| New England Crown | |
|---|---|
| .. | |
| Use | |
| User: | New England |
| Inflation: | 1.9% |
| Subunit: | 100 Shillings = 1 Crown |
| Symbol | C or NEC |
| ERM IV | |
| Since: | 1 January 2038 |
| Band: | ± 5.25% |
| Exchange: | €1 = C1.66 |
| Denominations | |
| Coins: | 10s, 25s, 50s, C1, C2 |
| Banknotes: | C5, C10, C20, C50, C100 |
| Central Bank: | Central Bank of New England |
The New England Crown (ISO 4217: NEC) is the official currency of New England. It was introduced in 2014 to replace the Australian Dollar
which became unpopular owing to the Civil War and New England's independence.
The Crown, like most currencies, is decimal with One Crown being made up of One Hundred Shillings.
Appearance
Coins are based on the shape, weight and colour of British and New Zealand coins from the early 2000's. Designs of the coins were inspired by coins in Australia and New Zealand, although the use of 25 rather than 20 as a denomination is unique in the region. All coins feature the inscription JAMES II NEW ENGLAND on the obverse with a left-facing effigy of King James II. The year of minting is featured on the bottom of the coin underneath the bust of the King.
The direction of the Monarch's effigy is a continuation of the British tradition of alternating directions for successive Monarchs. Elizabeth II's bust faced right, and so when King Michael came to the throne in 2012, he chose for his effigy to face left, and so the tradition has been continued.
The design of a coin is standard, and so far, none have been changed. Unlike a lot of other countries, there are no new designs issued every year to denote important anniversaries or international events. The Mint has always held the policy that such designs make counterfeiting easier, as the public is confused to actual design a coin should have.
Regulation
The money and financial regulation body of New England is the Central Bank of New England or CBNE. It was established on 1 January 2014. By law, only the CBNE can issue banknotes and coins in New England.
The Exchange rate is also determined by the CBNE. The Crown is part
of the European Exchange Rate Mechanism (also known as the ERM). The
most recent system ERM IV was introduced in 2027 to fix the value of
currencies to the Euro. New England joined the ERM in 2038, and since that time the value of the Crown has not been allowed to exceed a margin of 5.25% either side of the value of the Euro.
On current market estimates, 1 Euro would buy 1.66 Crowns.
Denominations
Currency is available as both notes and coins. All notes are printed on polymer plastic, and feature a watermark of the New England Lion. Along with other security measures, the notes are extremely difficult to counterfeit. The colour of the banknotes is similar to those used on New Zealand banknotes, whilst the size is the same as Australian banknotes of the same value.
| Monetary Denominations of New England | ||||
|---|---|---|---|---|
| Coins | ||||
| Denomination | Diameter | Composition | Design | |
| Ten Shillings | 20.03 mm | Copper-plated steel | Wheat Sheaf | |
| Twenty-Five Shillings | 25.90 mm | Copper-plated steel | Galah | |
| Fifty Shillings | 31.75 mm | Cupro-nickel | Coat of Arms | |
| One Crown | 23.00 mm | Aluminium bronze | Crown of New England | |
| Two Crowns | 26.50 mm | Aluminium bronze | Merino Ram | |
| Banknotes | ||||
| Denomination | Size | Obverse Design | Reverse Design | |
| Five Crowns | 130mm x 65mm | Aboriginal Elder / Indigenous Artwork | Red-necked Pademelon / Red Cedar | |
| Ten Crowns | 137 x 65 | Capt. James Cook / HM Bark Endeavour | Common Brushtail Possum / Snow Gum | |
| Twenty Crowns | 144 x 65 | John Oxley / Woolgrowing | Common Wombat / Banksia | |
| Fifty Crowns | 151 x 65 | Sir Earle Page / Farming | Platypus / Bottlebrush | |
| One Hundred Crowns | 158 x 65 | HM King Michael / Civil War Memorial | Eastern Freshwater Cod / Moreton Bay Fig | |
