§ 81. Mr. Russell
asked the Chancellor of the Exchequer why a large number of new 1949 pennies have suddenly appeared in circulation.
§ Mr. R. A. Butler
Pennies were last minted in substantial quantities in 1949. Since then there has, until recently, been no demand on the Mint for pennies as the banks were able to supply public requirements from their own stocks. The Mint was thus left with stocks of 1949 pennies. Since October this year, the banks have again been drawing on the Mint for pennies, with the result that new 1949 pennies are coming into circulation.