10 Cents, Issued by Hong Kong, 1935
Minted by Royal Mint, London
Crowned and draped bust of the King facing left, the King is wearing the Imperial Crown and the ermine Robe of State, the Collar of the Most Noble Order of the Garter, and the Badge of the Most Honourable Order of the Bath; around, GEORGE V KING AND EMPEROR OF INDIA; on bust truncation, the artist's initials, BM
At centre within a beaded circle, four Chinese characters; around above, HONG-KONG; below, . TEN CENTS 1935 .
On 19 June 1934 the United States President Roosevelt signed into law the Silver Purchase Act, 1934, in August he nationalized the metal and gave 90 for all (but some specifically exempted sources) be sold to Treasury. 109 million ounces were purchased by the US Treasury. In May 1935 a silver futures trade bwgan in London. As a result during 1935 $174,817,946 worth of silver was exported from the colony, including most small change silver coins. On 9 November Hong Kong officially abandoned the silver standard. The Annual Reoport of the Deputy Master and Comptroller of the Royal Mint for 1935 records the production and shipment of 1 million copper-nickel 5 and 10 million 10 cent coins before the end of the year. The coins were legal tender up to $2 worth.
Donation from Mr John P. Sharples - Museum Victoria, 12/5/1994
Type of item
2.6 g (Weight)
[Book] Bruce, Colin R. 2009. 2009 Standard Catalogue of World Coins 1901 - 2000.
[Book] Cribb, Joe. 1987. Money in the Bank, The Hongkong Bank Money Collection., 74 - 76 Pages