HC Deb 05 February 1953 vol 510 cc2025-7
44. Sir Edward Keeling

asked the Chancellor of the Exchequer whether he has any statement to make about commemorative sets of the new coinage; whether he is aware that the current selling price of a set of the 1937 Coronation gold coins, of a face value of £8 10s. and a gold content of £25, is about £70: and whether he is also aware that if half of a limited issue of gold coins were exported they would therefore probably realise an amount in hard currency considerably in excess of the gold value of the whole issue, besides enhancing the prestige of this country.

Mr. Boyd-Carpenter

Yes, Sir. In addition to the Coronation Crown Piece, and to the ordinary sets of denominations from the half-crown to the farthing inclusive, collectors' sets of 10 coins including the Crown Piece, struck from polished dies, will be available in the latter half of the year from coin dealers at a charge of 25s. exclusive of postage and registration.

The number of these sets will depend on the capacity available at the Royal Mint after meeting its regular commitments and other special work incidental to the new reign; but it will probably be greater than the number issued in 1951.

As regards gold pieces, my right hon. Friend has given due weight to the considerations advanced by my hon. Friend, but has advised Her Majesty that their issue is not practicable in present circumstances. Sets of gold pieces bearing Her Majesty's Effigy will, therefore, be limited to a very small number for the national coin collections.

Sir E. Keeling

How many of these sets of gold coins will there be? Will there be more than half-a-dozen, which would hardly count? Is it not a great pity to break the tradition of this country as the leader in the production of gold coins for something like 600 years?

Mr. Boyd-Carpenter

I sympathise with my hon. Friend's feelings, but he will appreciate that we have to bear in mind the question of the proper conservation of our gold reserves. Perhaps he will put the first part of his supplementary question on the Order Paper.

Sir E. Keeling

Will my hon. Friend reply to the last part of my Question, after the second semi-colon?

Mr. Boyd-Carpenter

If my hon. Friend will study my reply, which, I regret to say, was rather lengthy and, therefore, perhaps not as easy to follow as a briefer one would have been, I think that he will find that it dealt very fully with the matter.

Lieut.-Colonel Lipton

Can the hon. Gentleman explain why it is that these commemorative coins are to be released to the public only through coin dealers who, apparently, will have a commission on the transaction? Why cannot they be released to the public through the banks? Can the hon. Gentleman assure us that sufficient supplies of the coins will be available to all who desire to obtain them? I refer particularly to the set of coins of values from 2s. 6d. to £1.

Mr. Boyd-Carpenter

With reference to the latter part of his supplementary question, I would refer the hon. and gallant Member to the answer which I gave to my hon. Friend the Member for Ashford (Mr. Deedes) on 27th January.