TNAG-0455-FCO40-520-Minting-of-new-coins-for-Hong-Kong-1974 — Page 56

CONFIDENTIAL # 機密

Coin/note

denominations

1 cent note

5 cent piece

10 cent piece

20 cent piece

25 cent piece

50 cent piece

$1 piece

$2 piece

$5 note

$10 note

$50 note

$100 note

$500 note

9-

Ratios between successive denominations

Present

sequence

Alternative sequences

Sequence I

Sequence II

2

2

150 N NI

15 N

2

5

In 2

2 2

2층

2

5

NNNING I

2호

2

2

ہیں

5

2

2

A;

21

2

2층

2

N UT

5

2

5

50 250

2 5 2 5

Ignoring the one cent note and the large denomination notes, i.e. $50

and above, the table clearly demonstrates that alternative sequences I

and II give equally close approximations to the binary optimum. There

is, however, a weakness in sequence II in that use is made of a 25 cent

coin which in many transactions would necessitate the use of a 5 cent

coin.

This latter coin, as we have indicated in paragraph 24, is already considered in some circles to be too small and of little practical use.

30.

In order to verify that sequence I or II would effectively reduce the number of coins in circulation, the tables at Appendix 4 were prepared to show:

(i) The total number of coins required for the range of

transactions from 5 to 95 cents for:

(a) existing range of coin denominations; (b) existing range of coin denominations

plus various new units.

/(ii).

G.F. 323

CONFIDENTIAL **