5 Dollars

New Zealand's shift to polymer banknotes began in 1999, which makes this 1992 paper series the last De La Rue-printed run before the country moved to a substrate that would eventually become the regional standard across the Pacific. The transition wasn't purely aesthetic — the Reserve Bank had been watching Australia's polymer rollout since 1988 and commissioned extensive durability testing through the mid-1990s.

Pick 177 carries only a basic watermark as its primary security feature, modest even by early-1990s standards. De La Rue was capable of considerably more sophisticated work at the time.