Finding the ‘Sandwich Cookie’ Coin in Circulation: A Roll Hunter’s Guide to the 1993 New Zealand $2

Introduction: The Thrill of the Hunt

You don’t always need a dealer to find something special. Sometimes the most interesting coins are hiding right in your pocket change or waiting in bulk lots at estate sales. One of the strangest modern coins yet minted is the 1993 New Zealand $2 coin featuring the Kingfisher – often called the “sandwich cookie” coin by collectors who discover its unique security edge. This guide will help you identify this unusual piece when searching through circulation or bulk lots.

Historical Significance: More Than Just a Bird Coin

The 1993 New Zealand $2 coin stands out in numismatic history for several reasons. While New Zealand had been issuing commemorative dollar coins featuring native birds since the 1970s, the introduction of a circulating $1 coin in 1990 changed the landscape. The $2 coin became the new canvas for celebrating New Zealand’s unique wildlife.

The 1993 Kingfisher $2 coin was issued as a quasi-commemorative piece, celebrating New Zealand’s rich avian diversity. Unlike traditional commemorative coins that mark specific events, this coin simply honored the existence of this beautiful bird species.

What makes this coin particularly interesting is its security edge – a ribbed design with a center stripe featuring rivets. This wasn’t just decorative; security edges originated to prevent coin clipping and deter counterfeiting. While modern coins are no longer made from precious metals, these edges remain as both security features and visual identifiers.

Identifying Key Markers: What to Look For

Metal Composition and Color

The 1993 New Zealand $2 coin is made from aluminum-bronze, not to be confused with bronze-coated aluminum. This alloy consists of approximately 92% copper, 6% aluminum, and 2% nickel. The result is a golden-colored coin that’s more resistant to tarnishing than regular brass.

Key identification points:

• Golden-bronze color (not silver or copper)
• Solid alloy throughout – not plated or clad
• Weight: 9.00 grams
• Diameter: 26.50 mm

The Distinctive Security Edge

The most striking feature is the security edge. Unlike standard reeded edges, this coin has:

• A ribbed edge pattern
• A center stripe with rivet-like markings
• This creates the “sandwich cookie” appearance that gives the coin its nickname

Obverse and Reverse Design

Obverse: Features Queen Elizabeth II’s portrait (as this was minted before 1999 when New Zealand updated its effigy)

Reverse: Showcases a detailed Kingfisher bird, which has led some collectors to describe it as looking like “a flying chicken scared by a shotgun blast” – though beauty is in the eye of the beholder!

Varieties to Watch For

According to Krause catalogs, there are at least two main varieties:

1. KM#87: Regular circulation strike in aluminum-bronze
2. KM#87a: Silver proof version with a mintage of 10,000

However, some collectors believe there may be additional varieties, including potential thick planchet versions. When searching bulk lots, pay attention to:

• Edge thickness variations
• Color inconsistencies (some show silver-colored highlights)
• Potential doubling on lettering (though this may be machine doubling)

Where to Find Them: Circulation Finds and Bulk Lots

Circulation Hunting

While finding a 1993 New Zealand $2 in everyday circulation in the United States is rare, it’s not impossible. These coins occasionally appear in:

• Foreign coin rolls from banks
• Charity donation jars
• Travel souvenir collections
• Foreign currency exchanges

Bulk Lots and Estate Sales

This is where serious collectors often find their treasures. Look for:

• Large foreign coin accumulations
• Mixed denomination lots
• World coin collections being sold by heirs
• Online auction lots labeled “mixed foreign coins”

When examining bulk lots, use a magnifying glass to check for the distinctive edge pattern and look for the Kingfisher design. The security edge is often the easiest way to identify this coin quickly.

Online Marketplaces

While not “in the wild,” online platforms can be good sources for comparison pieces. Look for:

• Individual listings (typically $20-50 for circulated examples)
• Proof sets containing the silver version
• Bulk foreign coin lots where you might get lucky

Authentication Tips: Avoiding Fakes and Misidentifications

Weight and Dimensions

Always verify the coin meets specifications:

• Weight: 9.00 grams (±0.1g tolerance)
• Diameter: 26.50 mm
• Thickness: Approximately 2.60 mm

Edge Examination

The security edge is difficult to counterfeit convincingly. Look for:

• Clean, consistent ribbing
• Well-defined center stripe
• No signs of tampering or added features

Color and Patina

Authentic aluminum-bronze coins will show:

• Golden-bronze coloration
• Natural oxidation patterns (not uniform plating)
• Silver highlights on high points are normal due to alloy composition

Value Guide: What’s It Worth?

Circulation Strikes (KM#87)

Typical market values:

• Circulated: $15-30
• Uncirculated: $30-50
• Gem Uncirculated: $50-75

Despite its interesting design, this coin remains relatively affordable due to its status as a circulating commemorative rather than a true rarity.

Silver Proof Version (KM#87a)

Typical market values:

• Proof 69: $40-60
• Proof 70: $80-120
• Original packaging: Add 10-20% premium

Special Considerations

While some collectors speculate about thick planchet varieties or doubled dies, most examples show only machine doubling. True varieties, if they exist, would command significant premiums, but authentication would be challenging.

Collecting Strategy: Building Your Set

Starting Your Collection

For new collectors, I recommend:

1. Start with a circulated example to learn the characteristics ($15-20 investment)
2. Add a silver proof version when budget allows
3. Look for high-grade examples as your expertise grows

Advanced Collecting

Experienced collectors might pursue:

• Multiple grade examples showing color variations
• Proof sets containing the silver version
• Any confirmed varieties (thick planchets, doubled dies)
• Coins with interesting toning or patina

Storage and Preservation

Store these coins in:

• Archival-quality holders or flips
• Avoid PVC-containing materials
• Keep away from extreme humidity
• Handle by edges to prevent fingerprints

Conclusion: The Joy of Discovery

The 1993 New Zealand $2 Kingfisher coin represents everything that makes roll hunting and cherry picking exciting. It’s a coin with an interesting story, distinctive features, and the potential to be found “in the wild” rather than through traditional dealers.

While some collectors dismiss it as “practically worthless,” the true value lies in the hunt and the satisfaction of discovering something unique. Whether you’re searching through bulk lots at estate sales, examining foreign coin rolls, or carefully examining your own collection, the “sandwich cookie” coin offers a rewarding challenge for collectors of all levels.

Remember, numismatics is as much about the journey as the destination. The next time you’re sorting through a pile of foreign coins, keep an eye out for that distinctive security edge and the proud Kingfisher – you might just find one of the strangest modern coins yet minted, right in your own hands.

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