SILVER COINAGE

Greymouth Evening Star, 25 June 1937, Page 4

SILVER COINAGE

STORY OF VAGARIES. During the past few days the public have made acquaintance with two of the new silver coins of King George Vl.—the two-shilling piece and the sixpence. It is strange how troublesome new silver coinage has proved to the Royal Mint from time to time by comparison, with the dignified sovereign and the humble bronze coins, (writes R. J. Martin, in the London “Daily Telegraph”).

Nearly 90 years ago-the two-shilling piece began the trouble. There had been a demand, as at present, for a decimal coinage, and as a concession the Government introduced the twoshilling piece in 1849. It was received with a storm of nrotest, as the letters D.G. (Dei Gratia—by the grace of God) were omitted from the inscription. The issue was stopped, stocks were melted down, and a new model was struck. The offending coin became known as the Godless florin. Difficulty then arose owing to the similarity in value between the florin and the half-crown. Many thought that it was unnecessary to issue both coins, and to test public opinion the striking of half-crowns was suspended in ISSI. The issue, however, was resumed in 1862.

The five-shilling piece will appear in a few weeks’ time. Here is another coin with a chequered career. It is an historic piece, and has been struck in every reign since that of Edward VI. But it is not popular as a coin of the realm. Its issue to-day is small—some 4,000 a year—a negligible number when compared with an average annual issue of sixpences of over 15,000,000.

Almost insurmountable difficulties wth our silver money arose when, in 1920, the Government reduced the proportion of line silver in the coins from 92.5 p.c. to 50 p.c. It was a measure of economy, as the price of silver risen so much that in February, 1920, the silver content of a half-crown was worth 3/4. The Mint tried aluminium with the silver, but the coins were too light; when thev used nickel the coins were too liard. Experiments with manganese were also'unsuccessful. Finally, in 1927, the Mint introduced a new alloy containing a proportion of nickel and zinc, in addition to copper. Its use lias continued. The new silver coins of King George VI. are as bright and gleaming as their pre-war brethren.