CONFIDENTIAL #3
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respondents reported that a company called the Hong Kong Yaumatei Trade Service Company (香港油蔴地貿易服務公司 was offering exchange service and that for every $10,000 worth of 10-cent coins delivered, an additional $200 would be charged as transportation fees. They queried the source of supply of the said Company and urged that Government should look into the re-circulation process to ensure that there was no undue delay.
6.
Some respondents were also critical of the failure of the Treasury to forecast accurately the increasing public need for small coins for transport and other daily use.
For example, the forecast that a shortage of coins was only likely to occur during the Lunar New Year, implying that people would need small coins just for the red-packets, was no longer true. A review of the forecast system was considered to be necessary in order that placement of orders and issue of new coins could be more realistic.
7.
Other reasons that constituted the shortage
situation were reported to be
(a)
(b)
Stocking of coins by operators of small shops, restaurants, etc. for everyday use. With the• increase in retail business, there would inevitably be more hoarding and saving of small coins. There was a general increase in demand for coins in daily life; e.g. the widespread use of vendoring machines for photocopying, soft-drinks, stamps, etc. These machines absorbed quite a large number of coins the re-circulation of which was generally much slower.
(c) Quite a number of people were interested in collecting
coins for one reason or another. For example, 10-cent coins bearing the head of King George VI were kept as souvenirs. Others collected 10-cent coins in the hope that their value would rise when they were gradually replaced by new coins.
/ (a) Off
機密
CONFIDENTIAL ##