Strong Demand for Commemorative Coins

The local allotment for Hong Kong's first philatelic numismatic cover (PNC), issued on 22 May to mark the opening of the Lantau Link was over-subscribed. A ballot was drawn and applicants can now access the website (http://www.info.gov.hk/hkma) of the Hong Kong Monetary Authority (HKMA) for results of their applications. Successful applicants will also be notified by mail.

Similarly, applications for the 1997 Proof Coin Sets which closed on 15 May was also over-subscribed. A ballot will be drawn in mid-June and results will be available on the HKMA website in late June.

We understand from the Royal Mint, the agent for overseas sales for both these issues, that international pre-sales indicate very strong demand.

Meanwhile, the HKMA also announced enthusiastic international and local responses to the 1997 commemorative gold coins. Total global issue for the gold coin is 97,000 pieces. The Royal Canadian Mint (RCM), the manufacturer of the gold coin, have been allotted 28,000 pieces for international sales. We understand from the RCM that all the 28,000 have been sold out with Canada taking the bulk of them.

Of the remaining 69,000 pieces, the initial allocation of 50,000 pieces for Hong Kong collectors via public applications conducted by the HongkongBank was marginally over-subscribed.

Re-allocations from the 19,000 pieces in reserve will be made to ensure that all valid applicants will be able to purchase the coin.

Having fully satisfied the demand from Hong Kong, the balance held in reserve can now be re-allocated to meet overwhelming demand overseas.

The HKMA will issue one more commemorative product for the handover which is targeted for the general public. This is a set of seven Brilliant Uncirculated coins. The sets will be available for public sale in late June. Details for the sales will be announced in due course.

Hong Kong Monetary Authority
31 May 1997