CONFIDENTIAL #B
34
機密
(iii) the assumption that the new 20 cent and $2 coins should
displace the equivalent face value of 10 cent and $1 coins. respectively (paragraph 77).
The estimated present day costs of the two ranges, excluding the $5
coin which will replace a note, are as follows:-
Present Range
Proposed Range
Denomination
No. in
Cost per
Total
No. in
Cost per
Total
circulation*
Million
Cost
circulation
Million
Cost
(Millions)
(£)
( &M)
(Millions)
(£)
(CM)
5 cent
85.4
5,243
0.4
85.4
5,243
0.4
10 cent
401.4
8,338
3.3
261.4
8,338
2.2
20 cent
70.0
5,999
0.4
50 cent
147.5
|11,902
1.8
147.5
9,025
1.3
$1
173.9
22,554
3.9
53.9
14,208
0.8
$2
60.0
18,325
1.1
808.2
9.4
678.2
6.2
(Metal prices as reported in The Financial Times on 21st May, 1974)
* Maximum circulation figures for 1973-74 (including HKS BC stocks).
It can be seen from the above table that if the proposed range was already in existence, then savings in coinage costs over the years would have boen in the region of £3 million at current prices.
84.
The average number of coins bought over the last three years
was as follows:
Denomination
56 10%
50¢
$1
Average Number Bought
(Millions)
6.7
23.3
25.3
27.0
/At
G.F. 323
CONFIDENTIAL
機密