TNAG-0455-FCO40-520-Minting-of-new-coins-for-Hong-Kong-1974 — Page 62

G.F. 323

CONFIDENTIAL #2 機密

40.

- 15 -

Having given careful consideration to the Mint's comments and to those of other organisations, we have concluded that: (i) there is a need for a coin between the present 10

and 50 cent coins and this should be a 20 cent coin; (ii) there is a need for a coin between the present $1 coin

and $5 note and this should be a $2 coin;

(iii) the $5 note should be replaced by a $5 coin.

The introduction of these new denominations into the present range would, we believe, provide a series that would be sufficiently flexible

and convenient. As we are proposing no changes in coin values, no opportunity for price increases through rounding up should arise.

Choice of Size and Shape

41.

The choice of coin sizes and specifications is less than might at first appear. Apart from the obvious fact that there are

upper and lower limits to the sizes likely to be acceptable to the public, coins of different values circulating together have to be readily distinguishable from one another by sight, by touch, and by machine (vending and other coin-operated machines). It was apparent that the following factors had to be taken into consideration in determining the size of Hong Kong's coins:

42.

(i) the limitations set out in paragraphs 7 and 8 of the

Royal Mint Paper (Appendix 2);

(ii) the size of the present coinage;

and

(iii) the impracticability of introducing a full new range

of coins at one time (see paragraph 67).

In considering the choices open to us it is necessary to refer again to certain specifications of the present coinage, namely diameter, shape and type of edge.

Diameter

Denomination

(millimetres)

Shape

Type of

Edge

5 cents

16.51

Round

Milled

10 cents

20.57

Round

Milled

50 cents

23.60

Round

Milled

$1

30.00

Round

Milled

CONFIDENTIAL

/As

機密