Author Topic: Hong Kong mints new batch of HK$5 coins after 14 years  (Read 5528 times)

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Offline Coinsforever

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Hong Kong mints new batch of HK$5 coins after 14 years
« on: November 09, 2012, 07:13:33 AM »
Hong Kong mints new batch of HK$5 coins for first time in 14 years

It was released in August while new HK$2 coins are to be circulated in December

The Hong Kong government has quietly begun issuing new HK$5 coins, for the first time in 14 years.

A newly minted HK$2 coin also will be put into circulation from December, according to the Hong Kong Monetary Authority.

After noticing one of the shiny new HK$5 coins stamped 2012, the South China Morning Post inquired if a new issue was being minted. The HKMA, the city's de facto central bank, said the new HK$5 coin, which has the same design as those already on issue, started circulating in August. The new HK$2 coin would also look like those already in circulation.

In Hong Kong, banknotes are issued by the three note issuing banks - HSBC, Standard Chartered and Bank of China (Hong Kong) - but the government is responsible for coins. At the end of last year, there was a total of HK$6 billion worth of coins in circulation in denominations ranging from HK$10 to 10 cents.

"The HKMA has ordered 40 million HK$5 coins and 80 million HK$2 coins to be issued gradually to meet demand," said a HKMA spokeswoman. The mint date would be 2012.

The government stopped issuing new coins in 1998 because there was enough inventory to meet demand.

Many people use electronic payments or a stored-value card, such as the Octopus card, to pay transport fares or buy small retail items, and this has reduced the need for coins. But the HKMA found that coin demand had increased in recent years.

"The value of coins in circulation has picked up since 2004, notably in line with Hong Kong's general economic recovery after 2003," the HKMA spokeswoman said.

The authority said the reasons behind the increased demand may be related to inflation, noting that many food and drink prices had increased.

HKMA statistics show the number of HK$5 coins in circulation has grown 32 per cent in the past 10 years, while the number of HK$2 coins rose 21 per cent.

Meanwhile, the government has been withdrawing the so-called "queen's head" series of coins that bear the face of Britain's Queen Elizabeth and is replacing them with bauhinia-series coins, thus running down its inventory. In 1993, the government initiated a programme to replace the queen's head coins with a series showing the bauhinia flower.

By 2011, 12 million the queen's head coins in all denominations had been removed from circulation and replaced.

Source :scmp
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mumbapuri

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Re: Hong Kong mints new batch of HK$5 coins after 14 years
« Reply #1 on: December 23, 2012, 01:35:58 PM »
Thx for sharing. So are coins with "queen' head" still found in circulation? Couldn't find any during a short trip 5 years ago.

Offline Coinsforever

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Re: Hong Kong mints new batch of HK$5 coins after 14 years
« Reply #2 on: December 23, 2012, 02:46:46 PM »
Thx for sharing. So are coins with "queen' head" still found in circulation? Couldn't find any during a short trip 5 years ago.

Until last year I got few Queen's head coins of 1975 /1978 from Metro vending machine.


Now sure what is situation now.


Cheers ;D
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Offline Enlil

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Re: Hong Kong mints new batch of HK$5 coins after 14 years
« Reply #3 on: July 10, 2013, 04:33:10 AM »
When I go to HK i usually get the 10, 20, 50 cents and $1 with the queens head, but 2 and 5 dollars I have not seen for a while.

Offline monedas1980

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Re: Hong Kong mints new batch of HK$5 coins after 14 years
« Reply #4 on: July 22, 2014, 02:30:41 PM »
Every coin with Queen's head are still legal tender and can be spent without any problem, last month I have been to HK, spent a lot of coins with Queen's head, I had only one small problem while I bought a meal in McDonalds, because the price was $31.80 and I gave the teller all coins with Queen's head and she showed the coins to her boss and then accepted, also the banknotes with royal crest can also be spent without any problem.
 

Offline monedas1980

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Re: Hong Kong mints new batch of HK$5 coins after 14 years
« Reply #5 on: July 22, 2014, 02:36:09 PM »
Now the $10 bi-metallic coin is not that commen as $10 note, because the government is not willing to mint any new $10 coins. Also, you can find many $1,50c,20c,10c dated 1998 in UNC condition, that means the inventory for such denominations dated 1998 is still abundant, only $2 and $5 coin have new date which is 2012.

Offline Pabitra

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Re: Hong Kong mints new batch of HK$5 coins after 14 years
« Reply #6 on: July 22, 2014, 09:20:07 PM »
That is because 10 Dollar is currency in Hong Kong and is polymer note printed by HKMA.

Other notes are promissory notes, printed and replaced by the issuing bank who, as indicated are three in number.

Offline Enlil

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Re: Hong Kong mints new batch of HK$5 coins after 14 years
« Reply #7 on: July 25, 2014, 03:52:40 AM »
Just got back from HK and banknotes from the 93-03, 03-09 and current series are in circulation, with a lot of the previous series. I found a lot of $10 coins in circulation and new 1998 10 c- $1. No paper $10 notes were in circulation, but two years ago there were a lot. And lots of new polymet Oct 2007 and 2012. And with the $5 there were new 2013 issue.

Offline Pabitra

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Re: Hong Kong mints new batch of HK$5 coins after 14 years
« Reply #8 on: July 25, 2014, 11:49:18 AM »
Is that $5 a coin or a note?
2013 $5 has not been minted by the Royal mint.

Also, what about $2 coin of 2012?  Has the Monetary authority issued them to the public?

Offline monedas1980

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Re: Hong Kong mints new batch of HK$5 coins after 14 years
« Reply #9 on: July 25, 2014, 03:44:43 PM »
In HK, no $5 note in circulation, so $5 is coin, but I don't know if it exists 2013 dated $5 coin.
The 2012 $2 coins are now in general circulation.

Offline Enlil

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Re: Hong Kong mints new batch of HK$5 coins after 14 years
« Reply #10 on: July 30, 2014, 11:59:25 PM »
$5 2013 and $2 2012 has been issued.

Offline Enlil

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Re: Hong Kong mints new batch of HK$5 coins after 14 years
« Reply #11 on: July 31, 2014, 12:20:13 AM »
Here are the coins from circulation.

Offline Pabitra

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Re: Hong Kong mints new batch of HK$5 coins after 14 years
« Reply #12 on: July 31, 2014, 08:53:05 AM »
Thanks.
Something to look forward to, on my next vist.

Offline Enlil

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Re: Hong Kong mints new batch of HK$5 coins after 14 years
« Reply #13 on: February 21, 2015, 10:32:32 AM »
In HK now, the latest coins are 1998 for 10-50 cents, 2013 $1 and 2012-13 for the $2 and $5. They are still issuing the $10 coin as there are some new 1995 coins, but the coin is still common. New 10 notes are the 2014. Will give pictures if anyone wants later.

Hooroo Glen.

Offline Pabitra

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Re: Hong Kong mints new batch of HK$5 coins after 14 years
« Reply #14 on: April 09, 2016, 06:40:56 AM »
I have been informed by HKMA that 50 cents, 1, 2 and 5 Dollar coins of 2015 are now being issued.
Can any one confirm having received them?