WEDNESDAY, MARCH 19, 1975
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COMMEMORATIVE COINS FOR LUNAR NEW YEARS
THE GOVERNMENT PLANS TO ISSUE A SERIES OF 12 SPECIAL COMMEMORATIVE GOLD COINS TO MARK EACH LUNAR NEW YEAR BEGINNING IN 1976, THE FINANCIAL SECRETARY, THE HON. PHILIP HADDON-CAVE, DISCLOSED TODAY.
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HE ANNOUNCED THIS IN THE LEGISLATIVE COUNCIL WHEN HE MOVED A RESOLUTION TO SEEK APPROVAL FOR SETTING UP THE *SPECIAL COIN SUSPENSE ACCOUNT WHICH WOULD ENABLE HIM TO ISSUE AND DEAL WITH SPECIAL AND COMMEMORATIVE COINS.
THE COUNCIL APPROVED THE ESTABLISHMENT OF THE SUSPENSE ACCOUNT WHICH SHALL NOT, AT ANY TIME, BE IN DEBT TO AN AMOUNT EXCEEDING $20 MILLION,
MR. HADDON-CAVE SAID THE GOVERNMENT INTENDED TO ISSUE UNDER THIS SUSPENSE ACCOUNT A' SPECIAL $1,000 GOLD COIN TO MARK THE VISIT TO HONG KONG BY THE QUEEN AND THE DUKE OF EDINBURGH.
THIS WOULD BE THE FIRST OF A SERIES OF 14 GOLD COINS WHICH, BESIDES BEING A SPECIAL LEGAL TENDER, WOULD HAVE COLLECTOR APPEAL.
FOR THE OTHER COINS HE POINTED OUT THAT LUNAR NEW YEARS REPEAT THEMSELVES IN A 12-YEAR CYCLE.
WHAT WE HAVE TENTATIVELY IN MIND IS THIS BEGINNING IN 1976, EACH LUNAR YEAR WOULD BE MARKED BY THE ISSUE OF A GOLD COIN. THE OBVERSE SIDE OF THE COIN WOULD BEAR A PORTRAIT OF HER MAJESTY THE QUEEN AND THE REVERSE WILL DEPICT THE ANIMAL ASSOCIATED WITH THE LUNAR YEAR OF ISSUE.
*THE FIRST OF THESE LUNAR NEW YEAR COINS WOULD, THEREFORE, SHOW-A DRAGON ON THE REVERSE SIDE,❖ HE SAID.
THIS WOULD MAKE A TOTAL OF 13 COINS, BUT SO AS NOT TO DISCOURAGE THOSE COLLECTORS WHO FIND THE NUMBER 13 UNLUCKY, A SET OF 14 COINS WOULD BE MADE. THE 14TH COIN WOULD BE ISSUED TO MARK A FUTURE NOTEWORTHY AND IMPORTANT EVENT, AS YET UNDETERMINED.→
IN ADDITION, MR. HADDON-CAVE SAID A SPECIAL HIGH QUALITY CASE CONTAINING 14 COIN WELLS WOULD BE DESIGNED AND SOLD TO THOSE WHO DECIDED TO COLLECT THE FULL SET OF COINS.
+IN MY VIEW, A COMPLETE SET WOULD PROVE TO BE A VERY VALUABLE INVESTMENT INDEED TO HAND DOWN TO OUR GRANDCHILDREN.+
REFERRING TO THE COIN TO BE ISSUED IN MAY FOR THE QUEEN'S VISIT, HE SAID THAT THIS FINE QUALITY COIN, TO BE ISSUED IN PROOF AND ÎN UNCIRCULATED CONDITION, WOULD NOT ONLY SERVE TO COMMEMORATE A UNIQUE EVENT BUT ALSO, THROUGH THE OVERSEAS MARKETING ARRANGEMENTS BEING MADE, FURTHER ENHANCE HONG KONG'S IMAGE ABROAD.
FULL DETAILS OF THE COIN AND THE SALES ARRANGEMENTS WOULD BE RELEASED SHORTLY, HE SAID.
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