Reserve Bank of New Zealand tenders contract for NZ$27.5 mln of new 10, 20 & 50 cent coins over next three years

Reserve Bank of New Zealand tenders contract for NZ$27.5 mln of new 10, 20 & 50 cent coins over next three years

Got a coin mint? The Reserve Bank wants to talk.

New Zealand’s central bank is seeking tenders for its next lot of 10, 20 and 50 cent coins, and wants NZ$27.5 million worth of them.

In documents listed on government tenders website GETS, the Bank says over the period 2013-2015 it would expect to order approximately 60 million 10c coins, 45 million 20c coins, and 25 million 50c coins.

It could turn into a little earner for them.

If you think you’ve got what it takes, then get in touch.

Tenders need to contain information on your Mint’s background, covering matters such as;

Ownership and organisational structure; History; Financial stability and ongoing viability; Product range and customer profile; Production capabilities and technical expertise.

And don’t think you can just re-contract out to do it on the cheap:

“Tenders should include an undertaking to produce New Zealand coins only in production units wholly owned by your Company no sub-contracting to other organisations will be permitted without the Reserve Bank's prior written consent,” it says in the tender documents.

The Reserve Bank didn’t say it, but an extra demand could have been: ‘The winning bidder will not have been accused of bribery to win contracts off third world governments.’

See: Reserve Bank closely watching Aussie banknote company bribery charges as it announces upgrade to NZ's banknotes, Bollard says.

And finally, just be careful how you pack the coins.

Containers that are larger than 720mm x 950mm will not fit through the Bank’s vault doors and its bullion lift has a weight limit of 2 tonnes.

On the dimensions specified by the bank, that means Nefab boxes of 10 cent coins worth NZ$30,000; boxes of 20 cent coins worth NZ$50,000; and boxes of 50 cent coins worth NZ$100,000.

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