History and Evolution of Coins in Hong Kong

The Five Blessings Commemorative Coin Set is issued to mark the fifth anniversary of the establishment of the Hong Kong Special Administrative Region.  The five commemorative coins respectively carry the meanings “May your wishes come true”, “May every year bring a surplus”, “Speedy success”, “Flowers bloom for prosperity” and “May your stock turn over like a spinning wheel”.

The Hong Kong International Airport Commemorative Gold Coin is issued to mark the opening of the new airport at Chek Lap Kok in July 1998.

The 1997 Commemorative Gold Coin and 1997 Commemorative Proof Coin Set are issued to mark the establishment of the Hong Kong Special Administrative Region on 1 July 1997.

The $10 coin enters circulation and the Government also issues the $10 commemorative gold coin.

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Ahead of China’s resumption of sovereignty over Hong Kong in 1997, the Government launches a set of coins, with the portrait of Queen Elizabeth II replaced by the image of a bauhinia flower.

The 5-cent coin is taken out of circulation.

The Government issues a commemorative gold coin to mark Queen Elizabeth II’s second visit to Hong Kong.

New $5 coins are minted to replace the decagonal-shaped $5 coin.

The first issue of commemorative gold coins for each of the 12 signs of the Chinese zodiac is launched.  Each coin has a denomination of $1,000 with the zodiac of that year.  

Starting from the year of the Dragon in 1976, the set was completed in 1987, the year of the Rabbit.

The Government issues the first $5 coin, which is decagonal.

The first commemorative gold coin, with a denomination of $1,000, is produced.

The Government mints the first $2 coin.

The Government stops issuing $1 notes and resumes minting $1 coins.  The coin’s size and weight earn it the nickname “da bing”, which means “big cake” in Cantonese.

The obverse of Hong Kong coins is replaced with the portrait of Queen Elizabeth II.

The obverse of Hong Kong coins is replaced with the portrait of King George VI, who is the father of Queen Elizabeth II.

The obverse of Hong Kong coins is replaced with the portrait of King George V, who is the grandfather of Queen Elizabeth II.

The obverse of Hong Kong coins is replaced with the portrait of King Edward VII, who is the great-grandfather of Queen Elizabeth II.

The Government builds the Hong Kong Mint, which begins producing silver coins in denominations of 5 cents, 20 cents, 50 cents and 1 dollar.

The mint closes down two years later.

Hong Kong’s own coinage appears for the first time.  They include 10-cent coins minted in silver, as well as 1-cent and 1-mil coins struck in bronze.  1 mil is equivalent to one-thousandth of a dollar.  During those days, 1 mil can pay for a simple breakfast, such as a bowl of porridge with a fritter, a bowl of wonton noodles or a piece of bread.  The Chinese expression of “not worth a mil” is used to describe things that are worthless.