XN000022-1994-09-20 — Page 5

TUESDAY, SEPTEMBER 20, 1994

NEW BAUHINIA $1 COIN TO BECOME LEGAL TENDER

THE

HONG

KONG MONETARY AUTHORITY

(HKMA)

ANNOUNCED

LEGAL TENDER,

TODAY

(TUESDAY) THAT A NEW 1994-DATED $ COIN WOULD BECOME WITH EFFECT FROM OCTOBER 3.

84 PER CENT THE NEW BAUHINIA $1 COIN HAS METAL CONTENT OF

$2 COPPER AND 16 PER CENT NICKEL, THE SAME COMPOSITION AS THE $5 AND BAUHINIA COINS.

TESTED BY THE SAMPLES OF

NEW $1 COIN HAVE BEEN WIDELY THE VENDING MACHINE OPERATORS WHO CONFIRM THAT THEIR MACHINES HAVE BEEN OR ISSUANCE OF THE COIN WILL BE RECALIBRATED TO ACCEPT THE NEW COIN. WILL BEGIN IN LATE OCTOBER.

NOT BEEN MAGNETIC

THE NICKEL-PLATED STEEL $1 COIN MINTED IN 1993 HAS FAVOURABLY ACCEPTED BY THE PUBLIC PARTLY BECAUSE OF ITS PROPERTIES, AND PARTLY BECAUSE OF TECHNICAL PROBLEMS OF ACCEPTANCE VENDING MACHINES IN HONG KONG,

BY

THE 1993-DATED $1 COIN, WHICH CONSTITUTES LESS THAN

WOULD BE CIRCULATION, IN CENT OF THE

$1 COINS TOTAL WITHDRAWN BUT IT IS AND WILL REMAIN LEGAL TENDER.

1.7 PER GRADUALLY

SATISFACTORY ARRANGEMENTS

HAVE BEEN AGREED BETWEEN KONG GOVERNMENT AND ROYAL MINT RELATING TO THE WITHDRAWAL DATED $1 COIN FROM CIRCULATION.

THE HONG OF 1993-

CHANGE

THE ROYAL MINT HAS ALSO INFORMED HKMA THAT BECAUSE OF A IN MANUFACTURING PROCESS TO RESPOND TO CURRENT UK WORKPLACE HEALTH AND

COINS MINTED IN 1994 ARE LEGISLATION, SAFETY DIFFERENT IN VALIDATION CHARACTERISTICS FROM THOSE MINTED

50-CENT

SLIGHTLY

IN 1993.

OTHER THAN VALIDATION CHARACTERISTICS, THE 1994-DATED AND 1993- DATED COINS ARE IDENTICAL IN ALL ASPECTS.

THE 1994-DATED 50-CENT COIN HAS BEEN TESTED BY MAJOR VALIDATING HAVE NO MACHINE MANUFACTURERS WHO CONFIRM THAT THEIR MACHINES WOULD PROBLEM ACCEPTING THE COIN.

TO

AND 1993-DATED

HKMA IS WORKING CLOSELY WITH THE VENDING MACHINE OPERATORS RECALIBRATE THEIR MACHINES TO ACCEPT BOTH 1994-DATED 50-CENT COINS.

MINIMISE THE

THE NEW COIN WILL BE ISSUED LATER THIS YEAR TO ALLOW SUFFICIENT

ΤΟ MACHINES FOR THE ADJUSTMENT OF THE VENDING INCONVENIENCE CAUSED TO THE PUBLIC.

TIME

THE 1993-DATED 50-CENT COIN WILL CONTINUE TO BE AND WILL NOT BE WITHDRAWN.

LEGAL TENDER

ISSUANCE OF THE 1994-DATED 10-CENT COIN WILL RESUME NEXT MONTH.

ACCEPT VENDING MACHINE OPERATORS HAVE RECALIBRATED THEIR MACHINES TO THE NEW COIN.

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