HKG. 1027
Registry No.
SECURITY CLASSIFICATION
Top Secret,
Secret.
Confidential.
Restricted.
Unclassified.
PRIVACY MARKING
.....In Confidence
DRAFT SUMMARISED REPORT
To:-
OFFICERS ADMINISTERING GOVERMENTS
OF
OVERSEAS DEPENDENT TERRITORIES
ON
Type 1 +
DSR11
From
MISS N FARRELL
Telephone No. Ext.
4828
Department
HK&GD
NUMISMATIC COIN ISSUES IN THE DEPENDENT TERRITORIES:
Report of the Bank of England Dated 26 January 1978
The following is a summarised version of the Report
which was drawn up after consultation with governments of
certain overseas territories and the Royal Mint, the supplier
of numismatic coins to some denendencies.
I. THE REASONS FOR THE SURVEY
(1) During 1976 is became increasingly evident that
numismatic coin programmes in certain dependencies (chiefly
in the Caribbean area) were not only of questionable legality
but also constituted a substantial contingent liability for
H.M.Government. In the context of the Report the term
"numismatic coins" is used to describe those coins minted
and issued primarily for collectors and investors but at the
same time are legal tender in the country of origin.
They are not actually intended for normal circulation within
the territory of issue, but are mostly sold directly to
overseas customers. The coins are usually struck in
precious metals and carry distinctive designs (not
incorporated in everyday circulatory coinage) which
frequently commemorate notable events or personalities.
The quality of finish is superior to that of circulatory
coinage and is produced to two standards - "brilliant
uncirculated" (otherwise referred to as "specimen") and
"proof" see Annex I: Glossary of Terms. Although such
-