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FRIDAY, APRIL 11, 1975
ROYAL VISIT COMMEMORATIVE GOLD COINS ADVANCE ORDERS MAY BE PLACED FROM APRIL 14
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THE GOLD COINS WHICH ARE BEING MINTED TO COMMEMORATE THE VISIT TO HONG KONG OF THE QUEEN AND PRINCE PHILIP HAVE BEEN MADE LEGAL TENDER FROM MAY 5, 1975 BY A PROCLAMATION BY THE ACTING GOVERNOR PUBLISHED IN TODAY'S GAZETTE. THE COIMS WILL BE LEGAL TENDER FOR THE PAYMENT OF ANY AMOUNT.
HONG KONG RESIDENTS WILL BE ABLE TO PLACE ADVANCE ORDERS THROUGH NEWSPAPER ADVERTISEMENTS WHICH WILL APPEAR ON APRIL 14.
THE COINS ARE MADE FROM 22 CARAT GOLD, FACI WEIGHING 246.55 GRAINS OR JUST OVER HALF A TROY OUNCE WITH A DIAMETER OF 1.113 INCHES. THEY ARE THE FIRST LEGAL TENDER GOLD COINS ISSUED IN HONG KONG AND WITH A FACE VALUE OF $1,000 EACH THEY WILL BE THE LARGEST CURRENCY UNIT IN CIRCULATION.
NO MORE THAN 20,000 WILL BE MINTED OF WHICH 5,000 WILL BE STRUCK AS PROOF COINS. PROOFS ARE COINS WHICH ARE NOT INTENDED FOR CIRCULATION. THEY ARE STRUCK WITH HIGHLY POLISHED DIES AND EACH COIN IS CAREFULLY EXAMINED FOR FLAWS. THESE PROOF-CONDITION COINS WILL BE AVAILABLE AT $1,500 EACH WHILE THE OTHERS CAN BE BOUGHT IN UNCIRCULATED CONDITION AT THEIR FACE VALUE. EACH COIM WILL BE SUPPLIED IN A. PRESENTATION CASE.
A GOVERNMENT SPOKESMAN SAID TODAY THAT THESE COINS. WHICH ARE EXPECTED TO BE POPULAR WITH COLLECTORS THROUGHOUT THE WORLD PECAUSE OF THEIR FINE QUALITY AND LIMITED ISSUE. WILL BE MARKETED OUTSIDE HONG KONG BY THE NUMISMATIC BUREAU OF THE ROYAL MINT.
HE ADDED THAT THE COINS MAY IN TIME PROVE TO BE GOOD INVESTMENT BECAUSE OF THEIR BEAUTY, COMMEMORATIVE SIGNIFICANCE AND PRECIOUS GOLD CONTENTS.
THE SPOKESMAN POINTED OUT THAT BECAUSE THE COIN HAS A FIXED MONETARY VALUE, IT WILL NOT SUBJECT TO DAILY FLUCTUATIONS IN THE MARKET PRICE OF GOLD.
ON THE OBVERSE SIDE THE COINS WILL THE QUEEN BY THE ARTIST ARNOLD MACHINE. BEFORE BEEN USED ON A HONG KONG COIN.
FEATURE A PORTRAIT OF
THE PORTRAIT HAS NEVER
THE REVERSE SIDE DISPLAYS THE ARMORIAL BEARINGS OF HONG KONG WHICH WERE FORMALLY PRESENTED TO THE GOVERNOR BY THE DUKE OF EDINBURGH DURING HIS LAST VISIT IN 1959.
THESE ARMORIAL BEARINGS SYMBOLISE HONG KONG'S CONNECTION WITH BRITAIN AND HONG KONG'S SIGNIFICANCE AS A COMMUNICATIONS AND TRADING CENTRE.
THERE ARE ALSO INSCRIPTIONS IN BOTH ENGLISH AND CHINESE WHICH RECORD THE ROYAL VISIT THIS YEAR.
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