SILVER COINAGE IN BRITAIN

Press, Volume XCIV, Issue 28155, 19 December 1956, Page 18

SILVER COINAGE IN BRITAIN

MELTING DOWN TO REPAY U.S. LOAN (N.Z. Press Association—Copyright) (Rec. 10 p.m.) LONDON, December 18. Britain is melting down her silver coin to help in the repayment to the United States by next April of 88,000.0000 z of silver under lend-lease agreements. The annual reoort of the Royal Mint shows that in 1955, £6,493.403 worth of silver coin provided about 11.500,0000 z of pure silver. Cupronickel coins replaced silver coins and in 1955 more than 232.000.000 were struck, valued at £11,951,095. At the end of that year, 5,963,000,000 coins of all denominations were in circulation in the United Kingdom. The mint also struck 207,605.400 coins in 51 denominations for overseas governments, both inside and outside the Commonwealth. These included 800,000 Maria Theresa thalers sent to the Near East. These are not

coins but rather trade dollars about the size of Britain's five shilling piece. They contain 83£ per cent, pure silver compared with 50 per cent, in the British silver coins now being withdrawn. They carry an effigy or “head” of the Empress Maria Theresa and they are dated 1780 —the year of her death.