TNAG-0717-FCO40-914-Banking-and-monetary-matters-in-the-Dependent-Territories-is-1978 — Page 46

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have been referred to London there is nothing to

suggest that delays brought about by close examination

of proposals have been detrimental to the development

of a particular programme.

The following are some

of the possible courses of action which could be studied

and applied on a selective basis to meet the

needs of individual territories:-

(a) Issue no more numismatic coins

This is an extreme course if taken absolutely

and not merely as a temporary measure pending

decisions about a modified policy or pending

the expiry of existing exclusive contracts.

However there are at least two cases in which

the risk already taken by the issuing authority

is unacceptable and it could be agreed that that

risk shouldnot be increased.

(b) Issue fewer coins and/or at less frequent intervals

A less extreme and more desirable recommendation

in order to reduce certain unacceptable features

of previous issues: e.g. the exploitation of the

Royal connection; avoid increasing the redemption

risk; and to enhance the saarcity and thus the

value of a territory's coins.

(c) Return to"traditional" issuing practices

This would mean confining coin issues primarily

to mark occasions which are genuinely'special'.

(d) Provide for 100% cover for all numismatic coins

issued

A complete safeguard against loss resulting

from massive redemptions can be provided only

by the maintenance of a fund providing 100% backing.

This course would inspire the greatest confidence and

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