asked the Minister for Finance if he can give any estimate of the values of copper and silver token coinage in use in the Saorstát, and of the annual profit which might be derived from the minting of such coins by the Government of the Saorstát.
CEISTEANNA—QUESTIONS. ORAL ANSWERS. - VALUE OF TOKEN COINAGE.
TOMAS MAC EOIN
No estimate can be given of the face value of the copper token coinage in existence in the Saorstát, but as regards silver it has been estimated that the face value of silver coins in the hands of the public and of Irish banks in their offices in the Saorstát amounts to £1,500,000 approximately. The profit which would be made by replacing these coins would not be an annual one, and would depend on the composition of the alloy used in the new tokens and the cost of minting and distribution.
Can the Minister say what would be the profit on the first issue, for instance?
Assuming that the alloy used was that in the British coinage at present, 50 per cent. silver and 50 per cent. alloy, and assuming that the silver was bought at its present value, the profit would be in the neigh-bourhood of £800,000.