§ Mr. Raffanasked the Chancellor of the Exchequer what representations he has received (a) from pensioners' organisations, and (b) from other sources concerning the new £1 coins.
§ Mr. MooreEarly in 1981 specification of the new £1 coin was decided upon. The Royal Mint circulated to over 100 organisations proposed specifications and invited them to put forward their views. Of those so invited, two — Help the Aged and Age Concern — represented pensioners, but many of the others, including the Royal National Institute for the Blind, St. Dunstan's, The Muscular Dystrophy Group and the Rheumatism and Arthritis Association number amongst their members a significant proportion of pensioners.
The views of all those consulted were taken into account when settling on the final specification of the new £1 coin. Since the £1 coin came into circulation there have been no formal representations from any organisation, although two have sought clarification on technical matters concerning the new coin.
§ Mr. Jannerasked the Chancellor of the Exchequer how many of the new £1 coins have been minted; how many and what percentage have been supplied to banks; and how many he estimates are now in circulation.
§ Mr. Moore[pursuant to his reply, 14 July 1983, c. 395]: To date 277 million new pound coins have been struck at the Royal Mint and 128 million—46 per cent.—have been issued to banks. The banks have issued from their cash centres into circulation 100 million of the new coins.
§ Mr. Jannerasked the Chancellor of the Exchequer what orders or requisitions have been placed with or by the Royal Mint for the further supply of £1 coins; and what requisitions or orders for these coins have been placed by the clearing banks.
§ Mr. Moore[pursuant to his reply, 14 July, c.395]: To date the banks have placed orders with the Royal Mint for 132 million of the new £1 coins. It is the practice for the banks only to place orders approximately one week in advance of their needs for coins. The Royal Mint is required to supply coins to meet the demands of the public as reflected by requisitions from the clearing banks.
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§ Mr. Jannerasked the Chancellor of the Exchequer how many £1 notes were in circulation when the £1 coin first appeared; how many £1 notes are now in circulation; and how many £1 notes he estimates will be in circulation 12 months from the date when the £1 coin appeared.
§ Mr. Moore[pursuant to his reply, 14 July 1983, c. 395]: There were approximately 580 million current series Bank of England £1 notes in circulation when the £1 coin first appeared. On 6 July 1983 approximately 550 million current series pound notes were in circulation. No estimates are available of the pound notes that are likely to be in circulation 12 months from the time the £1 coin appeared.
§ Mr. Jannerasked the Chancellor of the Exchequer how many complaints he has received concerning the design of the £1 coin.
§ Mr. Moore[pursuant to his reply, 14 July 1983, c. 396]: To date, 75 letters of complaint about the new £1 coin and nine letters in favour have been received; these letters were sent either to the Treasury or to the Royal Mint. A few telephone calls have been received, mainly of complaint, but no record has been kept of the number of calls.