-
FRIDAY, JULY 28, 1978
E. ONE DOLLAR COIN TO BE ISSUED IN AUGUST
"E
*****
HE COLLAR COIN WILL COTE INTO CIRCULATION IN HONG AUGUST 14.
THE E. COIX IS THE SAME SHAPE AS THE EXISTING ONE DOLLAR 2011, SUT IT 13 SMALLER, LIGHTER AND THINNER.
COMPARISONS BETWEEN THE CLD AND THE NEW COINS ARE:
CLD
NEW
DIAMETER
30.0 MM
25.5 MM
THICKNESS
2.235 MM
1.95 MM
L
LEIGHT
11.664 GRMS
7.1 GR3
EDGE
MILLED
MILLED
ALLOY
CUPRO-NICKEL
CUPRO-NICKEL
THE DESIGN AND DIMENSIONS OF THE NEW COIN WERE ADOPTED ON THE RECOMMENDATIONS OF THE 1973 COINAGE REVIEW COMMITTEE AND IT WAS PRODUCED BY THE ROYAL MINT IN THE UNITED KINGDOM.
THE EFFIGY OF THE QUEEN 13 IDENTICAL TO THAT USED ON THE 50% AND 200 COINS WHICH HAVE BEEN INTRODUCED AT VARIOUS STAGES SINCE 1975.
A GOVERNMENT SECRETARIAT SPOKESMAN SAID 13.6 MILLION OF THE NEW COINS WERE ALREADY IN HONG KONE, BUT THIS NUMBER WOULD EE INCREASED TO ABOUT 24 MILLION EY AUGUST 14.
HE SAID A TOTAL OF 120 MILLION COINS WAS ON ORDER AND THEY WERE ALL EXPECTED TO BE HERE EY DECEMBER.
F
HE EMPHASISED THAT THE EXISTING ONE DOLLAR COIN WHICH INTRODUCED IN 1960 WOULD CONTINUE TO EE LEGAL TENDER UNTIL IT 13 DECIDED TO +DE-MONETISE+ IT. HE SAID IT WAS THE INTENTION TO REPLACE OLD COINS WITH NEW COINS AS THEY ARE PAID INTO THE BANKS.
HE SAID THE COINAGE REVIEW COMMITTEE HAD ALSO RECOMMENDED THAT 10% AND 5 COINS SHOULD BE REPLACED BUT NO DATE HAS YET BEEN DECIDED WHEN THIS WILL HAPPEN.
NOTE TO EDITORS:
MR. D.J. KEELER, ACTING DEPUTY DIRECTOR OF ACCOUNTING SERVICES, AND MR. RAYMOND CHAN, SENIOR ACCOUNTING OFFICER, WILL BE AVAILABLE AT 4 P.M. TODAY FOR PRESS RADIO AND TV INTERVIEWS ABOUT THE NEW COIA.
YOUR STAFF SHOULD GO TO MR. KEELER'S OFFICE WHICH IS CH THE 8TH FLOOR OF THE CENTRAL GOVERNMENT OFFICE (ESTING).
/2