HC Deb 04 May 1948 vol 450 cc1090-1
51. Mr. Peter Freeman

asked the Chancellor of the Exchequer the number of each variety of coins at present in circulation; and the number of each minted last year.

Mr. Glenvil Hall

With the hon. Member's permission, I will circulate the answer, which contains a number of figures, in the OFFICIAL REPORT.

Mr. Freeman

Does my right hon. Friend accept the fact that there is a great shortage of silver coins, and has he any evidence that there is any hoarding of them? If so, can he make a statement?

Mr. Glenvil Hall

We believe the situation is better than it was. The output of coins is considerable. It is possible that some people—we do not know why—are hoarding these coins, but we hope that the situation will progressively improve.

Mr. Assheton

Does the right hon. Gentleman think there is too much money or too little in circulation?

Mr. Glenvil Hall

If the right hon. Gentleman is seeking information and will put that Question down, I will do my best to answer it.

Mr. Keenan

Will my right hon. Friend bear in mind that quite a lot of coins are now being taken by seafarers abroad, where it is easier to make purchases with silver coins than it is with notes?

Colonel Gomme-Duncan

Is the right hon. Gentleman aware that silver 3d. pieces have almost entirely disappeared in Scotland?

Following is the answer:

I presume that the hon. Member refers to circulation in the United Kingdom.

Statistics of the division into denominations of coin withdrawn, and coin supplied to Colonies, are not kept. No statistics are available of coin lost, destroyed cm privately exported; the amounts are relatively small. Subject to this deduction, the estimated numbers of coins of each denomination in circulation in the United Kingdom and the numbers of that denomination struck in 1947 are:—

— Aggregate circulation. Struck in 1947.
Million pieces. Million pieces.
Halfcrown … 378 19.8
Florin … 417 18.4
Shilling … 466 24.4
Sixpence … 552 25.4
Threepence—
Silver … 114 —
Nickel-brass … 446 —
Penny … 2,150 52.2
Halfpenny … 1,190 21.3
Farthing … 540 14.7