Telephone
01-488 3424, Ext. 263
16
J.K. Hanna Esq.,
Hong Kong & India Department,
Foreign & Commonwealth Office,
Downing Street, London, S.W.1.
Dear Hanna,
RECCIVED
N 52
10 OCT 1974
JKK S/38
ROYAL MINT,
LONDON, EC3N 4DR
4th October, 1974
Further to our recent telephone discussion I would like to suggest the following as a basis of your letter to the Hong Kong Authorities concerning
a proposal to use the World Coin Corporation to distribute sets of proof coins:
1. We have not so far entered into any contract with the World Coin Corporation and we have no personal knowledge of them. We understand, however, that it is their practice to use socially prominent people to approach Government officials at higher level in order to further their business interests.
2.
We have reason to believe that in certain countries dealing with numismatic marketing agencies there has been dissatisfaction at the sharing of the profits of the scheme. Many of the numismatic agencies ask for contracts for periods of 5-10 years and this can be to the country's disadvantage if financial returns are less favourable than promised. The market for proof coins is developing rapidly and what might seem attractive now could well within a short time become a bad bargain.
The Royal Mint's marketing consists of advertising in numismatic journals and the press as necessary and also to circularise details of proof sets to their list of customers in the United States, Canada and Great Britain. We have two numismatic bureaux, one in Washington and one in Edinburgh from which collectors may buy proof coins by direct mail order. In addition special agents have been appointed in Australia, Japan, West Germany and Scandinavia. These bureaux have handled orders for over a million proof coins and proof coin sets during the last two years.
The Minth
4.
Our normal practice is to bear the initial costs involved in manufacture and promotion and to remit to the issuing authority the net profit on sales less a nominal management fee. Thus no outlay is required on the part of the issuing authority.
འ དམས་ཉིད་དང་ངས་བཏག་
If there is any further information required perhaps you would be good enough. to let me know.
Yours sincerely,
a Sotting th
(A. LOTHERINGTON)
14/x
pra