any profit.
during the two months that the exemptions from Mint charges accorded to them in Government Notification of 20th December is in operation, and the possible charge of 1/10 % for remitting, loss of interest during coinage and wastage by dirt so makes it "very unlikely that Bankers and Merchants will care to have the conversion effected.
1000 Bars Silver of 0.877 fineness or fine (the ordinary standard quoted) is sold in Hong Kong on the market weight for weight with Mexican dollars at a premium varying with the fluctuations - it is from 9/2 to 10 per cent - 1000 taels of bar silver would convert into £1542.50 new dollars.
It would cost in Mexican's at 101⁄2 premium £1861.15
10% # £1234.19
91⁄2 # £1827.20
9 # £1790.22
81⁄2 # £1753.20
8 # £1716.27
adding thereto the Mint charge of 2.0%, it follows that bar silver will not be sent for coinage unless the premium falls to less than 81⁄2d.
Sycee at the usual touch contain in 1000 taels weight 369692.8 grains of pure silver; this at 594.4 grains per Hong Kong dollar would convert into 168797.
1000 taels of Sycee at 1/2 % cost £1685.56
91⁄2 # £1492.32
9 # £1499.31