COINS SCARCE

Hauraki Plains Gazette, Volume 52, Issue 3278, 21 June 1943, Page 8

COINS SCARCE

PROBLEM FOR THE BANKS HOW THE PUBLIC CAN HELP PENNIES AND THREEPENNIES Where do the humble copper and the threepenny piece go to in the course of trade? There is a strong suspicion that children’s money boxes engulf many of them, and many adults are in the habit of collecting threepenny pieces in glass jars, but whether for the aesthetic (affect or as a long-term provision against old age is not known. Bank officials point out that it is possible that thousands of threepenny pieces—to say nothing of pennies—disappear into money boxes, glass jars, old teapots, or even the traditional sock, in the Thames Valley every, month. At times Paeroa banks have had to send, hurriedly to other towns for supplies. It would seem that the shortage is universal in the Auckland Province, and only less acute is the position south of the province. Admittedly there is more money in

circulation nowadays than formerly, and this probably accounts for a good deal of the shortage. Ordinarily large amounts of silver and copper are imported annually to keep pace with the demands of legitimate trade, but it is not known for certain whether the same amounts have been arriving in the Dominion since the beginning of the war. Other Coins Scarce One bank manager said that threepenny pieces and pennies were not the only coins in short supply. Florins and half-crowns were also scarce. Many nowadays carried silvei- in their hip pockets instead of the 10s or £1 note, and even though that silver was changed for goods or the equivalent before the end of a week this helped to make the position more acute. Asked about sixpences and shillings, another bank official stated that these particular coins were not in such short supply as the others named, but cashiers and tellers were often hard put to it to meet all requests in the course of a day. “The shortage of small coins in Paeroa, as everywhere else in the Dominion, is acute, and although the banks import considerable quantities they cannot maintain an adequate supply,” said a bank manager. Replacement Problem “Small coins are minted in millions, but they also disappear in millions, and nobody knows quite how or where. Apart from trading inconvenience caused by the shortage, replacement is a problem in war time when conservation of metals is im-