Dáil Éireann debate -
Tuesday, 22 Feb 1966

Vol. 221 No. 1

Coinage (Amendment) Bill, 1965: From The Seanad.

The Dáil went into Committee to consider an amendment from the Seanad.

Minister for Finance (Mr. J. Lynch)

I move that the Committee agree with the Seanad in amendment No. 1:

In column (2), "345" and "22.356" deleted and "280" and "18.144" respectively substituted.

In the course of the Second Reading of the Bill in the Dáil, I stated that I had been advised by the Central Bank that tests of samples of the coin had shown that it would be necessary to amend the figures for standard weight given in the Schedule to the Bill. I indicated that an amendment would be introduced at a later stage when the figures for weight were finally settled. Final details of the weight were advised to me by the Central Bank when the Bill was before the Seanad and this amendment was put down there for the purpose of showing the correct weight of the coin.

Question put and agreed.

Amendment reported and agreed to.

Mr. J. Lynch

Would I be in order in making a comment of a general natures at this stage of the Bill? I do not think it is controversial in any way.

An Ceann Comhairle

The Minister could by way of amendment.

Mr. Sweetman

By leave of the House. When we have heard the Minister, we will see whether we want to throw it back or not.

Mr. J. Lynch

I understand that some members of the public are confused as between the issue of this coin and of a medallion, which is a memorial medallion produced by a private concern. That medallion is in gold, silver and, I understand, copper. That is a purely private enterprise by a commercial firm. This coin is the only commemorative article of this nature which is being officially issued. I think it necessary to make this clear because, since the debates in the Seanad, it has been brought to my attention that there is some confusion as to which is which, and whether one is identical with the other. Both here and in the Seanad, I was asked whether it would be possible to indicate the number of these coins being ordered. I understand now that I am free to give this information to the Dáil. The number will be 2,000,000 for the initial order; the initial order meaning, of course, that if necessary it will be possible and desirable to issue some more.

Mr. Dillon

What metal is to be used?

Mr. J. Lynch

Silver.

Mr. Sweetman

Silver and lead, not pure silver?

Mr. J. Lynch

Mostly silver.

Mr. Donegan

Is there any intention to provide a case or any form of container for these coins? Recently I was given a present of a coin the Israeli Government struck after the visit of Pope Paul to the Holy Land. In that case there was a leather holder provided in which the coin sat and it could be used also as a stand.

Mr. J. Lynch

Apart from the issue of the coin as such—which will be currency—there will be a special issue of a polished coin in a leather case, as the Deputy has in mind.

Mr. Norton

What is the cost to the State of producing one of these coins? Has the Minister any ideas at all?

Mr. J. Lynch

It is expected that it will not be quite the ten shillings, that there ought to be some small profit accruing to the State from the sale of the coins.

Mr. Norton

Will it be little or much?

Mr. J. Lynch

Very little.

Mr. Norton

It says here 83? per cent silver and 16? per cent copper.

Mr. Sweetman

He has to get his sup, poor man.