SATURDAY, MARCH 1, 1975
NEW COINS TO BE INTRODUCED IN AUGUST
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THE FIRST COINS IN THE PHASED PROGRAMME OF A NEW COINAGE RANGE -- THE $2 AND THE 20-CENT COINS WILL BE PUT INTO CIRCULATION IN AUGUST ON SCHEDULE.
A GOVERNMENT SPOKESMAN SAID TODAY THAT THE FIRST BATCH OF NEW COINS WAS EXPECTED TO ARRIVE WITHIN THE NEXT MONTH OR TWO WITH SUBSEQUENT SHIPMENTS TO FOLLOW, BUILDING UP TO A SUFFICIENT SUPPLY IN AUGUST.
THE NEW $2 AND 20-CENT COINS ARE SLIGHTLY SMALLER THAN THE EXISTING $1 AND 10-CENT COINS, AND THEY HAVE A DISTINCTIVE SHAPE INCORPORATING SCALLOPED EDGES TO MAKE THEM EASILY RECOGNISADLE.
COMMENTING ON THE SHAPE OF THE NEW COINS, THE SPOKESMAN REITERATED A POINT RECOMMENDED BY THE COINAGE REVIEW COMMITTEE THAT IT WOULD NOT BE POSSIBLE TO ADD NEW ROUND COINS TO THE EXISTING RANGE WITHOUT CAUSING CONFUSION.
ON THE OBVERSE SIDE OF THE COIN IS A PORTRAIT OF THE QUEEN BY MR. ARNOLD MACHIN, OBE, RA. THE CREST OF THE ARMORIAL BEARING ON THE REVERSE SIDE REMAINS UNCHANGED. THE CREST CONSISTS OF A ROYAL LION OF THE IMPERIAL CROWN HOLDING A PEARL, INDICATING THE SMALL BUT PRECIOUS NATURE OF HONG KONG.
ANOTHER DISTINCTIVE FEATURE OF THE NEW COINS IS THE WAY IN WHICH THE WORDS +QUEEN ELIZABETH THE SECOND+ IS PLACED ON THE SIDE BEARING THE PORTRAIT. ON THE PRESENT $1 AND 10-CENT COINS THE WORDS START ON A LEVEL WITH THE CROWN AND RUN FROM RIGHT TO LEFT UNDER THE PORTRAIT, ON THE TWO NEW COINS, THE SAME WORD ING APPEARS BUT RUNS FROM LEFT TO RIGHT.
THE SPOKESMAN SAID THAT PRICES OF COPPER AND NICKEL ARE IMPORTANT ELEMENTS IN THE TOTAL COST OF PRODUCING COINS, AND THE ACTUAL COST WILL NOT THEREFORE BE KNOWN UNTIL DELIVERY COMMENCES. BUT IT WAS EXPECTED THAT WHEN THE NEW RANGE OF COINS HAS BEEN INTRODUCED IT WILL RESULT IN SIGNIFICANT ANNUAL SAVINGS.
OTHER NEW COINS SCHEDULED IN THE PHASED PROGRAMME ARE NEW $1 COINS IN 1976 AND 50-CENT AND $5 COINS IN 1977.
NOTE TO EDITORS:
COPIES OF A PHOTOGRAPH SHOWING THE TWO NEW COINS WILL BE BOXED FOR COLLECTION TODAY.
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