XN000022-1993-02-13 — Page 2

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HK CIRCULATION COINS

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SATURDAY, FEBRUARY 13, 1993

THE OFFICE OF THE

EXCHANGE FUND TODAY (SATURDAY) RELEASED DETAILS OF THE LAST ISSUES OF COINS BEARING THE QUEEN'S EFFIGY.

A SPOKESMAN FOR THE OFFICE SAID:

"NOW THAT A START HAD BEEN MADE ON THE COIN REPLACEMENT EXERCISE, WHICH HAD BEEN ANNOUNCED ON NOVEMBER 24 LAST YEAR, IT WAS FELT THAT IT WOULD BE OF INTEREST, PARTICULARLY TO COIN COLLECTORS, TO HAVE FIGURES OF THE FINAL ISSUES OF THE COINS BEING REPLACED.'

ONLY THREE DENOMINATIONS TWO-DOLLAR WERE MINTED IN 1992.

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THE 10-CENT, ONE-DOLLAR AND

ALL OF THE 25 MILLION ONE-DOLLAR COINS PRODUCED AND SHIPPED TO HONG KONG WERE PUT INTO CIRCULATION.

BUT OF THE 50 MILLION 10-CENT COINS PRODUCED, THE GOVERNMENT HAD ONLY TAKEN DELIVERY OF 24 MILLION AND ALL OF THESE WERE ISSUED.

THE BALANCE OF THE ORDER FOR THIS DENOMINATION WAS BEING HELD BY THE MINT AND WOULD BE SHIPPED TO HONG KONG AS AND WHEN REQUIRED.

AS TO THE TWO-DOLLAR COIN, 14 MILLION WERE PRODUCED AND SHIPPED TO HONG KONG BUT ONLY 4.37 MILLION WERE PUT INTO CIRCULATION, THE SPOKESMAN SAID.

"THE BALANCE OF 9.63 MILLION UNISSUED COINS WAS RETURNED то THE ROYAL MINT WHERE THE COINS WILL BE MELTED DOWN AND EITHER USED TO PRODUCE NEW COINS OR SOLD AS SCRAP.

"THIS ACTION WAS TAKEN BECAUSE SUFFICIENT STOCKS OF THE NEW DESIGN TWO-DOLLAR COINS, FEATURING A BAUHINIA FLOWER, WERE AVAILABLE TO MEET LUNAR NEW YEAR DEMAND, HE SAID.

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TWENTY-CENT COINS WERE LAST PRODUCED IN 1991 AND FIFTY CENTS IN 1990. THE RESPECTIVE PRODUCTION QUANTITIES WERE 131 MILLION AND 27 MILLION.

ALL OF THE COINS HAD BEEN SHIPPED TO HONG KONG AND WERE PUT INTO CIRCULATION.

THE LAST YEAR IN WHICH FIVE-DOLLAR COINS WERE MINTED WAS 1989 WHEN 30 MILLION PIECES WERE PRODUCED AND SHIPPED TO HONG KONG.

OF THESE, ONLY 10.04 MILLION WERE ISSUED AND, AS WITH THE TWO-DOLLAR COINS, BECAUSE NEW DESIGN FIVE DOLLARS WERE AVAILABLE ΤΟ MEET 1993 LUNAR NEW YEAR DEMAND, THE UNISSUED BALANCE

OF THE 1989 ORDER, 19.96 MILLION PIECES, WAS RETURNED TO THE MINT.

"THE FIVE-CENT COIN, WHICH WAS DEMONETISED ON JANUARY 1, COMPLETES THE PICTURE.

1989,

/"ALTHOUGH FIVE