XN000022-1975-08-10 — Page 4

SUNDAY, AUGUST 10, 1975.

SEVENTEEN MILLION 20-CENT COINS

TO BE ISSUED

*****

A TOTAL OF 17 MILLION 20-CENT AND 12.25 MILLION $2 COINS WILL BE ISSUED INITIALLY WHEN THESE TWO SCALLOPED-EDGE COINS COME INTO CIRCULATION ON AUGUST 18.

MEMBERS OF THE PUBLIC SHOULD BE ABLE TO OBTAIN THE NEW COINS AT MOST LOCAL BANKS ON THAT DAY WHICH HAS BEEN PROCLAIMED BY THE GOVERNOR AS THE DATE THAT THESE LIGHT WEIGHT COINS WILL BECOME LEGAL TENDER.

THE COPPERY-COLOURED 20-CENT COIN IS 40 PER CENT LIGHTER AND SLIGHTLY SMALLER THAN THE 10-CENT PIECE WHILE THE SILVERY-COLOURED $2 PIECE IS 20 PER CENT LIGHTER AND ABOUT SEVEN PER CENT SMALLER THAN THE $1 COIN.

THEIR INTRODUCTION WILL MEAN A WIDER RANGE OF COINS FOR THE MAN-IN-THE-STREET TO MAKE PAYMENT AND THAT CASH TRANSACTIONS CAN BE COMPLETED WITH FEWER AND LIGHTER COINS.

THE CONVENIENCE THAT THESE NEW COINS WILL BRING TO THE PUBLIC CAN BE ILLUSTRATED WITH A SIMPLE EXAMPLE OF BUYING A SWEEP OR A GOVERNMENT LOTTERY TICKET AT A PRICE OF $2.20 FROM A VENDOR IN THE STREET.

FOR PAYMENT MADE WITH THE $1 AND 10-CENT COINS, FOUR PIECES ARE REQUIRED. BUT THE SAME TRANSACTION CAN BE COMPLETED WITH ONLY ONE $2 AND ONE 20-CENT COINS TWO COINS LESS THAN REQUIRED AT PRESENT.

THE INITIAL ISSUE REPRESENTS ABOUT ONE QUARTER OF THE 70 MILLION 20-CENT COINS AND ONE-FIFTH OF THE 60 MILLION $2 COINS ORDERED FROM THE ROYAL MINT IN THE UNITED KINGDOM.

THE QUANTITIES TO DE RELEASED ON AUGUST 18 WERE DECIDED AFTER ALL LOCAL BANKS SUBMITTED THEIR INITIAL REQUIREMENTS TO THE HONG KONG AND SHANGHAI BANKING CORPORATION THROUGH WHICH THE NEW COINS WILL BE ISSUED.

I

1

H