G.F. 323
CONFIDENTIAL # *
12.
(1) If introduction of new coins is to be limited, preference for
206 and $2 coins.
(2)
Amalgamation of suggestions submitted by banks through the
Exchange Banks' Association.
(3) Either a $2 or $2.50 coin.
(4) 25 cent coin an obvious advantage with present fare structure, but this advantage could disappear with a change in fares.
Out of the 20 organisations invited to submit suggestions, 13 were in favour of the introduction of new denominations. The position may be further summarised as follows :-
New denomination
No. of organisations
in favour
20 cent
9
25 cent
4
30 cent
1
$2
8
$2.50
2
$5
$10
4
1
33.
It can be seen from this summary that the majority of
organisations were in favour of the introduction of 20 cent and $2 coins. There was some support for 25 cent and $5 coins but that for 30 cent and $2.50 coins was insignificant.
34.
A detailed analysis of the suggestions we have received is at Appendix 1.
35.
It is of interest at this stage to reflect on the Royal Mint 's comments on the choice of denominations
"Most existing currencies contain denominations
in the sequence 1,2,5,10,20 (or 25),50,100 etc. though the '2' is frequently omitted. 20 and 25 unit coins are about equally common. Attempts
have sometimes be made to meet demand for 1 unit
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