XN000022-1976-01-04 — Page 2

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SUNDAY, JANUARY 4, 1976

APPLICATIONS FOR DRAGON YEAR GOLD COIN

CLOSE ON WEDNESDAY

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APPLICATIONS FOR THE GOLD COINS TO MARK THE YEAR OF THE DRAGON, THE FIRST IN A SERIES THAT MAY BE ISSUED TO DEPICT THE 12 ANIMALS TRADITIONALLY REPRESENTING THE LUNAR NEW YEARS, WILL CLOSE ON WEDNESDAY, JANUARY 7.

COLLECTORS WHO ARE INTERESTED IN ODTAINING THE COIN, OF WHICH THERE WILL BE UNCIRCULATED AND PROOF ISSUES. CAN OBTAIN APPLICATION FORMS AT THE HEAD OFFICE OR ANY BRANCH OF THE HONG KONG AND SHANGHAI BANK.

A GOVERNMENT SPOKESMAN SAID TODAY (SUNDAY) THAT RESPONSE SO FAR HAS BEEN GOOD SINCE APPLICATIONS OPENED LAST MONDAY.

THE DRAGON YEAR GOLD COINS WILL HAVE A LIMITED CIRCULATION OF NO MORE THAN 30,000 ABOUT 10,000 CF WHICH WILL DE PROOFS.

THE COINS WILL BE LIMITED TO ONE FOR EACH APPLICATION AND IF THE ISSUE IS OVERSUDSCRIDED THEY WILL DE ALLOCATED BY BALLOT.

THE COINS ARE MADE OF 22 KARAT GOLD. EACH WILL HAVE A STANDARD WEIGHT OF 15.976 GRAMMES AND MEASURE 20.4 KM IN DIAMETER. EACH COIN, WHICH VILL COST $1,000 FOR THE UNCIRCULATED ISSUE AND $1,500 FOR THE PROOF, VILL DE SUPPLIED WITH AN ATTRACTIVE PRÉSENTATION CASE AND DESCRIPTIVE DUOKLET.

THE SPOKESMAN SAID THE COINS WERE ALSO DEING SOLD OVERSEAS AND IT IS EXPECTED THAT ADOUT HALF THE COINS MINTED WILL BE AVAILABLE TO COLLECTORS IN HONG KONG.

HE SAID THAT THE ROYAL VISIT COIN WAS SOLD IN NINE OVERSEAS COUNTRIES. IT IS EXPECTED THAT THE DRAGON YEAR COIN WILL BE SOLD IN AT LEAST THE SAME NUNDER,

THE SPOKESMAN POINTED OUT THAT THE COIN WAS SOLD OVERSEAS TO HELP PROMOTE HONG KONG GENERALLY AND TO ENSURE THAT THERE WAS A GOOD AFTERMARKET IN THE COIN.

ON THE SUBJECT OF AFTERMARKET PRICE HE SAID THAT THIS WOULD DEPEND ON A NUMBER OF FACTORS AND IT WAS NOT POSSIBLE TO PREDICT WHAT THE PRICE WOULD BE IN THIS MARKET, BUT HE NOTED THAT THE ROYAL VISIT COINS VERE SELLING OVERSEAS AT A SUDSTANTIAL PREMIUM OVER THE ISSUE PRICE.

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