NEW COINS ARRIVE.

Waimate Daily Advertiser, Volume XXI, 17 February 1921, Page 2

NEW COINS ARRIVE.

HALF SILVER, HALF ALLOY

LOWER INTRINSIC VALUE. New threepenny bits, half pure silver and ILa.IT alloy, have arrived in New Zealand. They are the torerupners, of other coins of similar! composition up to haif-at,crowii. Last February, when the price of silver rose to 7s 4d an ounce, the Chancellor of the Exchequer passed through the Imperial Parliament a Bill t.o permit a reduction of the fineness of the silver coins to be minted in future. As the new ooius pass into circulation th© old ones wifi tie withdrawn. Although -the high price of sUver wus the cause of this new coinage being issued, it will continue; but stiver is down to-day to 3s an ounce it wias within th® region of 1b 10d 'to 2s in 1914. There is no change in tnte design of the new coins, which arc dated 1920. They appear to have a yellowish tinge to comparison with i rig-hi), unWorn silver coinage of the former standard. The silver content of the .50,50 threepenny piece is worth about on© penny. The Wellington Post- recalls that many years ago Australia Was flooded with new shillings, and thpir dafe wias 1882, Close ol'servation showed a slight variation in the Queen's coiffure. These shillings were of pure silver, tut thjty had teen made by Chinese in and smuggled into Australia. As a matter of lack, as silver they were worth a shade, more titan the genuin® article, Hut the Chinese ’who minted them greatly benefited by the' exchange of 20 of them for a 'sovereign, ’Dy reason of the then low price of silver, and the sovereigns went to Hongkong in exchange for the Biddings.