Postage rate not affected by end of 5-cent coin

29 March 2006

For immediate release

New Zealand Post advises standard postage rate not affected by withdrawal of 5-cent coin

New Zealand Post today confirmed that the removal of the 5-cent coin from circulation would not impact the rate of standard postage.

New Zealand Post Spokesperson Mike Hartley said “while the nuts and bolts of how New Zealand Post manages the withdrawal of the 5 cent coin are still to be finalised, we can advise that the standard postage rate of 45-cents will not be affected.

“For customers who choose to purchase a single postage stamp by cash once the 5-cent coin has been withdrawn a rounding-up policy will apply.”

A recent New Zealand Post customer survey found that the majority of customers preferred to purchase stamps in a book of 10 rather than as a single item because it was more convenient.

The 5-cent coin will be withdrawn from circulation on 31 October 2006, following a 3-month transition period beginning on 31 July 2006.

ENDS

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