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Dáil Éireann debate -
Thursday, 5 Mar 1936

Vol. 60 No. 12

Ceisteanna—Questions. Oral Answers. - Issue of Coins under Coinage Act.

asked the Minister for Finance whether he will state in respect of each of the years 1927 to 1935, inclusive, the total face values of silver, nickel and bronze coins of the several denominations which he procured for issue under the Coinage Act, 1926, where such coins were minted, the actual base bullion value of the total metal presented for minting, the total charge made for minting and the total face value of those coins of the several denominations which were issued to date; further, if he will state the total profit realised by the State on these transactions.

The information asked for by the Deputy is not readily available and has to be compiled from the correspondence and accounts. I am satisfied that the compilation of the figures for each of the nine years separately would involve an expenditure of time and labour which the results would not justify. Indeed, the results compiled on a yearly basis might prove misleading, as there is no immediate connection between the ordering of coins, which is naturally undertaken in bulk, and the steady issue of these coins into circulation. Accordingly, I have had prepared and am circulating with the Official Report a return giving the information required over the whole period from the enactment of the Coinage Act, 1926, to the 31st December, 1935. The coins were minted in all cases by the Royal Mint, London.

Following is the return:—

Return showing over the period from 1st January, 1927, to 31st December, 1935, the face value of the aggregate amounts of each denomination of Saorstát token coin minted and put into circulation, the bullion value and cost of manufacture of such coin and the surplus in respect thereof.

Denomination

Face Value of Coins Minted

Bullion Value of metal in silver Coins Minted

Cost of Manufacture (including Cost of Alloys)

Bullion Value plus Cost of Manufacture

Surplus

Face Value of Coin * in Circulation

£

s.

d.

£

s.

d.

£

s.

d.

£

s.

d.

£

s.

d.

£

s.

d.

Half Crown

436,000

0

0

129,867

18

11

7,580

8

0

137,448

6

11

298,551

13

1

379,663

5

0

Florin

339,500

0

0

105,371

9

6

6,454

12

6

111,826

2

0

227,674

18

0

285,470

18

0

Shilling

213,000

0

0

65,655

9

8

5,330

15

0

70,986

4

8

142,013

15

4

182,680

1

0

Sixpence

108,037

10

0

12,982

1

6

12,982

1

6

95,055

8

6

73,579

4

0

Threepence

35,750

0

0

6,474

10

0

6,474

10

0

29,275

10

0

23,148

17

3

Penny

77,300

0

0

21,931

4

0

21,931

4

0

55,368

16

0

58,496

8

9

Halfpenny

9,500

0

0

3,888

0

0

3,888

0

0

5,612

0

0

6,508

6

2

Farthing

1,712

10

0

1,104

11

0

1,104

11

0

607

19

0

1,406

12

10½

Other manufacturing costs and expenses not apportionable

2,550

5

2

2,550

5

2

2,550

5

2

TOTALS £

1,220,800

0

0

300,894

18

1

68,296

7

2

369,191

5

3

851,608

14

9

1,010,953

13

* Includes coins to the value of £1,180 approximately put into circulation by way of specimen sets; the figures relating to specimen sets are not, however, included in previous columns, as the costs are not comparable.

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