half crowns) were minted in 1935, 1949, and 1953 for the Treaty of Waitangi, a royal visit, and the coronation of Queen Elizabeth II, respectively. Banknotes Until 1934, private trading banks issued notes. The first bank notes were issued in New Zealand in March 1840 by the Union Bank of Australia at Britannia, now Wellington, then the New Zealand Banking Company followed in September 1840 at Kororareka, now Russell. These banks issued notes in New Zealand: Union Bank of Australia (March 1840 – July 1934) New Zealand Banking Company (September 1840 – January 1845) Colonial Bank of Issue (1847–1856) Otago Banking Company (unsuccessful issuer in 1851) Oriental Bank Corporation (1857 – May 1861) Bank of New South Wales (May 1861 – July 1934) Bank of New Zealand (October 1861 – July 1934) Commercial Bank of New Zealand (1863–1866) Bank of Australasia (1863 – July 1934) Bank of Auckland (December 1864 – June 1867) Bank of Otago (1864–1874) Colonial Bank of New Zealand (1873 – November 1895) National Bank of New Zealand (1874 – July 1934) Bank of Aotearoa (unsuccessful issuer c. 1886) Commercial Bank of Australia (1912 – July 1934) Between 1852 and 1856, the Colonial Bank of Issue was the only banknote issuing body. Public distrust of these notes soon led to their redemption with Union Bank notes. The discovery of gold in 1861 encouraged competing banks into New Zealand leading to a variety of note issue. By 1924, public demand for convenience in usage led to the six remaining issuing banks agreeing a "Uniform" standard size and colour for each denomination. When the Reserve Bank of New Zealand was established on 1 August 1934 by the Reserve Bank of New Zealand Act 1933, it became the sole issuer of notes. This government agency introduced notes for 10/–, £1, £5 and £50. In 1940, £10 notes were added. Only two series of £1 notes were printed. The first (1934–40) featured the portrait of Matutaera Te Pukepuke Te Paue Te Karato Te-a-Pōtatau Tāwhiao, the second (1940–67) featured Captain James Cook. Notes in circulation when the dollar was introduced were: 10/– ($1) £1 ($2) £5 ($10) £10 ($20) £50 ($100) Present status Coins and uncancelled notes issued by the six private trading banks operating in 1934 as well as the Reserve Bank of New Zealand are still redeemable at the RBNZ offices in Wellington. The RBNZ has an obligation to redeem