New Zealand's kiwi dollar series has run in various forms since the 1990s, but the .999 silver bullion iterations attract collectors primarily as vehicles for the fine silver content rather than as circulation pieces — none of these were ever intended to pass through a cash register. The fourth portrait of Elizabeth II, by Ian Rank-Broadley, was already being phased toward retirement by 2021 as the Royal Mint prepared the fifth effigy; coins struck in this final window carry the older likeness by default of production scheduling rather than any deliberate commemorative intent.
New Zealand's kiwi dollar series has run in various forms since the 1990s, but the .999 silver bullion iterations attract collectors primarily as vehicles for the fine silver content rather than as circulation pieces — none of these were ever intended to pass through a cash register. The fourth portrait of Elizabeth II, by Ian Rank-Broadley, was already being phased toward retirement by 2021 as the Royal Mint prepared the fifth effigy; coins struck in this final window carry the older likeness by default of production scheduling rather than any deliberate commemorative intent.