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will be easier to store and take up less storage space. The public would not like large loose coins as small change.
A $5 coin (5 patacas) was introduced in Macau earlier this year but no comments can really be made regarding circulation as it was issued in a limited quantity and had a large silver content. This resulted in its being taken by tourists, coin collectors and speculators."
38.
We have also noted with interest the reasons behind the introduction of a 50 penny coin in the United Kingdom at the time of decimalization of the currency. (50 pence is equivalent to about HK$6. The following is an extract from Cmnd. 3164 which was presented to Parliament by the Chancellor of the Exchequer on 12th December, 1966:- "The 10 shilling note is popular but its life is very
39.
short. On economic grounds there is a strong case for replacing it by a 50 new penny coin instead of a 50
new penny banknote; a coin is much more expensive to produce but has a life of at least 50 years (after which the metal is recoverable) whereas the note has a life of only about five months and the costs of distributing replacement notes and withdrawing worn ones
it is the Government 's view
are considerable.
that an elegantly designed 50 new penny piece would be popular as well as economically sound and it is proposed to introduce one. It would be significantly different from other white coins. Several countries have recently introduced high-value coins in roughly this value range, and most seem to be popular."
The Royal Mint expresses the opinion that a $5 coin would now almost certainly be less expensive than a note having regard to its much longer life. Latest costs indicate that this is so.
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