Gail, if this was a NZ birth, and they tend to do things like we do in Oz, the second number would be the number given for registration in that year, i.e. the 682nd birth registered for that area in 1869.
If it's a very populous area, it would indicate (to me anyway) somewhere in the first half of the year, but if it is a sparsely populated place, it would indicate towards the end of the year.
Dawn M