Decimal Change

Press, Volume CVII, Issue 31385, 2 June 1967, Page 8

Decimal Change

Sir,—The change to decimal currency is imminent and it seems to me that adequate supplies of 5, 10 and 20 cent coins should be made available so that the 6d, Is and 2s pieces can be withdrawn as soon as possible. A state of affairs where obsolescent coins continue to circulate for years is undesirable, the change should be made completely in all our coins as soon as possible. Could the Decimal Currency Board give an indication that enough 5 cent coins and 6d coins will be in circulation? We will not want to deal with two fiddling threepences in lieu of one coin, the 5c or 6d. I would sooner throw one away than be bothered with a mixture of }d, Id and 3d to the value of 5 cents.— Yours, etc., LIBERAL THINKER.

May 26, 1967. [The public relations officer of the Decimal Currency Board (Mr J. Reid) replies: “Adequate supplies of newdesign 5,10, and 20-cent coins will be available to make the greatest possible coinage change on July 10. About 20 per cent of coins—all those held by banks—will be replaced. The rest of the coins are in the hands of people, in pockets and purses, and cannot be replaced. About six months after the change-over starts, the proportion of newdesign coins in circulation is expected to: sc, 26m out of 61m; lOe, 17m out of 35m; 20c, 13m out of 30m. In addition, there will be 10m of the new 50-cent coins injected into circulation. These will have an effect on the pattern of coinage, but this cannot be measured yet It would be very unusual for anyone to use a mixture of id, Id, and 3d coins for dollar-cent shopping. Banks will handle them in this fashion, but it is only a suggestion for emergencies that they be used in lots of 6d (sc) for shopping.”]