MINT (Contd.)
Mexican and other American silver dollars at 4s. 2d.; rupees at 1s. 10d.; and Chinese cash at the rate of 280 to the shilling.
In 1853 a proclamation was issued by Queen Victoria making the coins of the United Kingdom current in Hong Kong.
In 1866 the coins turned out by the local Mint were, of course, recognised; and later, when the Mint closed down, local coinage was minted in England, this being the rule to-day.
In earlier articles (see 13/7/33 and 14/7/33) the story of Hong Kong's first and only Mint was related in brief. It was erected in 1865, opened in 1866 and closed early in 1868 a complete failure from an economic point of view. Of the huge sum spent on reclaiming ground for it erection at East Point, erecting a fortified building, importing highly paid experts and purchasing machinery, only $125,000 was recovered. The machinery was sold to the Japanese Government for $60,000 and the ground disposed of to Messrs. Jardine, Matheson and Co. for $65,000.
The Hong Kong Royal Mint was officially opened for public service on May 10, 1866, by His Excellency the Governor, Sir Richard MacDonnell. At the opening ceremony, the first legal Hong Kong dollar was minted by Lady MacDonnell.
The opening of the Mint was not attended by the general public. A comparatively small party, comprising Sir Richard and Lady MacDonnell, the Colonial Secretary (Mr. Mercer), Lieut. Stewart, and Press representatives were the only ones present not connected with the actual operation of the Mint.
The vice-regal party was shown over the building by the Superintendent, Capt. Kinder. Details of the various processes by which the white metal was converted into dollars were fully explained. The metal, it was stated, was received in the form of ingots, ill-used silver coins, and in at least one case, a service of plate.
The party was first of all taken to the bullion room where jute bags were piled in layers, each filled with old or ill-used Spanish coins. In pigeon holes, made to receive them, were large and heavy ingots, some of newly mined metal and some of melted up Mexican and Spanish dollars.
The total value of bullion and dollars received for re-coining up to May 10, amounted to $2,000,000.
From the bullion room, Capt. Kinder took his visitors to the smelting room, where, in a dozen furnaces, silver shoes of sycee were being melted. From the "hot house" the party proceeded to the rolling room, where large and unsightly masses of silver were reduced by three powerful machines to long ribbons of gleaming metal of the thickness of the new dollar. Punching machines, working at lightning speed, soon reduced these silver ribbons to counters and the silver left over was taken back to the furnaces to be melted down again.
The most important ceremony of the opening day took place in the stamping room. One of the silver counters was handed to Lady MacDonnell. She placed it in a stamping machine, wheels revolved, weights fell, and out dropped the first legal dollar to be coined in Hong Kong.
688
MINT (Contd.)
Mexican and other American silver dollars at 4s. 2d.; rupees at ls. 101.; and Chinese cash at the rate of 280 to the shilling.
In 1853 a proclamation was issued by Queen Victoria making the coins of the United Kingdom current in Hong Kong.
In 1866 the coins turned out by the local Mint were, of course, recognised; and later, when the Mint closed down, local coinage was minted in England, this being the rule to-day.
In earlier articles (see 13/7/33 and 14/7/33) the story of Hong Kong's first and only Mint was related in brief. It was erected in 1865, opened in 1866 and closed early in 1868 a complete failure from an economic point of view. Of the huge sum spent on reclaiming ground for it erection at East Point, erecting a fortified building, importing highly paid experts and purchasing machinery, only $125,000 was recovered. The machinery was saold to the Japanese Government for $60,000 and the ground disposed of to Messrs. Jardine, Matheson and Co. for $65,000.
*
The Hong Kong Royal Mint was officially opened for public service on May 10, 1866, by His Excellency the Governor, Sir Richard MacDonnell. At the opening ceremony, the first legal Hong Kong dollar was minted by Lady MacDonnell.
The opening of the Mint was not attended by the general public. A comparatively small party, comprising Sir Richard and Lady MacDonnell, the Colonial Secretary (Mr. Mercer), Lieut. Stewart, and Press representatives were the only ones present not connected with the actual operation of the Mint.
The vice-regal party was shown over the building by the Superintendent, Capt. Kinder. Deatails of the various processes by which the white metal was converted into dollars were fully explained. The metal, it was stated, was received in the form of ingots, ill-used silver coins, and in at least one case, a service of plate.
The party was first of all taken to the bullion room where jute bags were piled in layers, each filled with old or ill-used Spanish coins. In pigeon holes, made to receive them, were large and heavy ingots, some of newly mined metal and some of melted up Mexican and Spanish dollars.
The total value of bullion and dollars received for re- coining up to May 10, amounted to $2,000,000.
From the bullion room, Capt. Kinder took his visitors to the smelting room, where, in a dozen furnaces, silver shoes of sycee were being melted. From the "hot house" the party proceeded to the rolling room, where large and unsightly masses of silver were reduced by three powerful machines to long ribbons of gleaming metal of the thickness of the new dollar. Punching machines, working at lightning speed, soon reduced these silver ribbons to counters and the silver left over was taken back to the furnaces to be melted down again.
The most important ceremony of the opening day took place in the stamping room. On of the silver counters w as handed to Lady MacDonnell. She placed it in a stamping machine, wheels. revolved, weights fell, and out dropped the first legal dollar to be coined in Hong Kong.
688
No comments yet.
Private notes are available after approval.