asked the Minister for Finance whether he is aware (1) that there is a growing shortage of copper coins in circulation; (2) whether representations have been made to him that certain persons are offering more than the face value of such coins; and, if so, whether he will take steps to prevent any interference with the currency.
Ceisteanna—Questions. Oral Answers. - Copper Coins.
While I am aware that various statements have been published about the alleged shortage of copper coin, I have no ground for believing that the amount of copper coin in circulation is, in fact, inadequate. Considerable fresh issues of copper coin have been made by the Currency Commission during the past two years, with the result that the total face value of such coin outstanding has risen during the two years ended 31st ultimo from about £97,000 to about £127,000. Considerable further issues of nickel coin have also been made during the same period.
I am aware of allegations that there have been purchases of copper coin at more than its face value, but I have seen no evidence to support them. Although such statements are inherently improbable, the penny being much more valuable as money than as metal, I shall not overlook the need for preventing any improper interference with the currency in these or other circumstances.
Is the Tánaiste the only man in Ireland who has not heard of a scarcity of copper coins? Has he not experienced the difficulty of getting pence and halfpence when he wants them?
No.
Then he is a happy man —he deals only in gold and silver. I have been scouring the country for pence and halfpence and the banks tell me they cannot get any.
Perhaps they thought the Deputy wanted them for improper purposes?
All I know is that I am a modest man who deals in copper; the Minister for Finance is the man who handles only silver and gold.