Opinion | 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.