§ Mr. Higginsasked the Chancellor of the Exchequer what was the average retail selling price in London of gold sovereigns of 1959 or 339W 1965 before S.I., 1966, No. 438 came into force; and how it compares with the price which authorised dealers in gold will today pay individuals who hand in such sovereign, in conformity with the said Statutory Instrument.
§ Mr. MacDermotThe London gold market price for sovereigns has fluctuated between 68s. and 68s. 6d. both before and after S.I 1966 No. 438 came into force. The buying price of the authorised dealers in gold is based on this. Persons required to surrender sovereigns under the Order may also sell to recognised coin dealers. Coin dealers do not normally advertise their buying prices. Before the Order came into force, 1965 sovereigns were on offer at 77s. 6d. sometimes with discount for larger purchases.
§ Mr. Higginsasked the Chancellor of the Exchequer if he will give the number of English gold sovereigns which have been acquired by the Bank of England from authorised dealers in gold as a result of S.I., 1966, No. 438.
§ Mr. MacDermotThe Bank of England does not buy sovereigns from the market.
§ Mr. Higginsasked the Chancellor of the Exchequer what is the gold value of gold coins which have so far been sold to authorised dealers as a result of S.I., 1966, No. 438.
§ Mr. MacDermotApproximately £50,000.