STILL LEGAL

Ashburton Guardian, Volume 56, Issue 81, 17 January 1936, Page 2

STILL LEGAL

OLD COINS IN BRITAIN. , Several questions on the age of coins still in circulation in this country and their position as "legal tender" have been raised recently in letters to the editor of the "Morning Post." Correspondents have expressed sur§ prise at receiving in change coins of 1817, 1819, 1849, and other dates, and have asked whether even older coins were in circulation.

A representative of the "Morning Post" obtained answers to these questions at the Royal Mint. The situation is that by Royal Proclamation of March 1, 1817, all coins issued before June 22, 1816, were demonetised, as Britain then "went on the gold standard" and silver coins were made lighter. All coins issued since 1816, therefore are legal tender, but as the standard or silver coins was again changed in 1920 the proportion of silver being decreased, the Mint has been withdrawing silver coins issued before that date for melting down. , The result is that there are now comparatively few coins older than 1920 in in circulation. These coins have not been demonetised, and those still in circulation remain legal tender. In the case of pence, brone was introduced in 1860, and the former copper coins were then demonetised and withdrawn.

Occasionally instances occur of fiveshilling pieces being regarded with suspicion and even refused, under the impression that they are no longer issued. This is a misapprehension, for although no five-shilling pieces were minted from 1902 to 1927, since then a certain number have been issued each year. The five-shilling piece was issued in 1935 in the special Silver Jubilee "St. George and the Dragon" design, and while this is generally regarded more as a memento medal, it is actually a coin and may be used as such. The phrase "legal tender" as applied to silver coins means that no person may refuse to accept in payment of a debt, or a purchase, any coin issued since 1816. Acceptance may be enforced, but no shopkeeper is compelled to give change. A correspondent who quoted Dr. Johnson's saying in 1783, and who asked Avhat age of coin he might have expected to .find among his change at that date, was answered by the fact that in 1696 all existing coin was withdrawn. No coin of an earlier date than 1696 would thus be legal tender in 1783.