Silver Recalled: British Recoinage
Britain is now engaged on the bigest recoinage operation in his.tory. All silver coins struck before 1947 —2;000,000,000 of them—are to be withdrawn and replaced by sombre cupro-nickel pieces. The Withdrawn coins will be remelted, the alloy refined, and the reclaimed silver sent to the United States in part repayment of silver sent to that country under LendLease. This “recoinage will take at least 20 years—and even then it may not be completed, for there are “pockets” of coin in the country that never seem to- reach a bank. The operation will profit the State, since every £1 nominal yalue of silver. is worth about 6s 8d as bullion, while the £1 of cupro-nickel that will replace it is actually worth about Id.
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https://paperspast.natlib.govt.nz/newspapers/BPB19480922.2.5
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Bay of Plenty Beacon, Volume 12, Issue 98, 22 September 1948, Page 2
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127Silver Recalled: British Recoinage Bay of Plenty Beacon, Volume 12, Issue 98, 22 September 1948, Page 2
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