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FRIDAY, JULY 3, 1981
OLD $5 COIN BEING WITHDRAWN
****
TEN-SIDED $5 CUPRO-NICKEL COINS WILL CEASE TO BE LEGAL TENDER FROM OCTOBER 8, 1981, IT IS ANNOUNCED IN THE GOVERNMENT GAZETTE TODAY.
THIS MEANS THAT AS FROM OCTOBER 8, 1981 THE LEGAL OBLIGATION TO ACCEPT THESE COINS IN SATISFACTION OF DEBTS FOR AMOUNTS NOT EXCEEDING $100, THE LEGAL TENDER LIMIT FOR $5 COINS, IS REMOVED.
HOLDERS OF TEN-SIDED COINS WILL, PROVIDED THESE COINS HAVE NOT BEEN DEALT WITH IN ANY MANNER PROHIBITED BY LAW, BE ABLE TO EXCHANGE THEM FOR CURRENT COINS OR NOTES AT A BANK BEFORE OR AFTER OCTOBER 8, 1981.
A NEW ROUND, $5 COIN, ALSO MADE OF CUPRO-NICKEL, WAS INTRODUCED ON MAY 11, 1981.
OLD TEN-SIDED $5 COINS HAVE NOT BEEN ISSUED SINCE MAY 11, 1981, AND ALL SUCH COINS WHICH HAVE BEEN RETURNED TO THE HONGKONG AND SHANGHAI BANKING CORPORATION HAVE BEEN WITHDRAWN FROM CIRCULATION. REQUISITIONS FOR $5 PIECES HAVE SINCE THAT DATE BEEN FILLED BY THE ISSUE OF THE NEW ROUND COIN.
THE DETAILED SPECIFICATIONS OF THE TWO COINS ARE AS FOLLOWS1
ALLOY DIAMETER WE IGHT EDGE THICKNESS
SHAPE
TYPE OF EDGE
(MM)
NEW CUPRO- 27
(GRAMMES)
13.50
(MM)
2.90
ROUND
RAISED
COIN NICKEL
LETTERED
INSCRIPTION
WITH THE WORDS
HONG KONG FIVE
DOLLARS IN
ENGLISH AND
CHINESE SET
INSIDE A
CHANNEL AROUND
THE EDGE WHICH IS OTHERWISE MILLED.
OLD CUPRO- 31 ACROSS 10.76 COIN NICKEL CORNERS
2.08
TEN- SIDED
PLAIN
AS AT JUNE 30, 1981, 44 MILLION $5 COINS WERE IN CIRCULATION, AND OF THIS NUMBER 38 MILLION WERE OF THE SPECIFICATION WHICH IS TO BE DEMONETISED.
THE GOVERNMENT HAS INITIALLY ORDERED 60 MILLION NEW ROUND $5 COINS TO MEET PUBLIC DEMAND AND ADDITIONAL ORDERS WILL BE PLACED SHOULD IT BE NECESSARY.
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