BRITISH SILVER COINS

Timaru Herald, Volume CXXXVIII, Issue 19946, 2 November 1934, Page 8

BRITISH SILVER COINS

NOT LEGAL TENDER AFTER FEBRUARY By Telegraph —Press Association WELLINGTON. November 1. A proclamation published in this week’s Gazette declares that British silver coins will not be legal tender in the Dominion after February 1, 1935. In regard to the proclamation the Minister of Finance stated to-day that it represented a further step in the change over to New Zealand silver coins. For some months past silver coins with New Zealand designs thereon had been on issue, and the withdrawal by the banks of British and Australian coins in circulation had been proceeding steadily and methodically. Australian silver coins had never been legal tender in New Zealand. but large amounts had crept into circulation and been generally accepted. The effect of the proclamation was that after February 1 next British silver coins would no longer be legal tender, but it was hoped that by that time there would be very little in circulation. Shopkeepers and the public generally would assist the change over to New Zealand silver coins by promptly lodging all British and Australian silver coins that came into their possession at the branch of any bank or exchange such for New Zealand coins at any branch of any bank. The prohibition on the export of silver coins would be rigorously maintained permanently, so no one could hope to profit by hoarding British silver coins.