The Palm Beach Post from West Palm Beach, Florida on November 28, 1968 · Page 29
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The Palm Beach Post from West Palm Beach, Florida · Page 29

West Palm Beach, Florida
Issue Date:
Thursday, November 28, 1968
Page 29
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Page 29 article text (OCR)

THURSDAY, NOV. 28th FROM 12:00 A.M. TO 9:00 P.H. n rmii i ini ik . i riiVWKsriniii m 1 1 v; imi m hit Palm Beach Post,-Bl7 Tbunday,Nov.M,196' Decimal Currencyj Planned fir ( MiWf i4 Selections During Our Spectacular Christmas Parade of Values Sale! LONDON (UPI) -When It comes to making money few can match a London-based en terprise that has been coining the stuff for nearly 700 year $ ( 42 String Tags Candolier With bulb and on much the same spot. I It ndt only holds a monopoly In Britain but has captured more than $K) per cent of the available world market and sells more of Its output over-seas than all Its clobal rivals1 c 59 Outstanding Holiday Value! put together. 'mm lips This is the Royal Mint. And. Cards marked "To" end "From" Beautiful assortment 7-f In a big break with tradition, it; has been ordered to cut its, links with London and mJeratftl t Scotch Made of sturdy plastic For windows, fireplace A warm holiday touch Us them for every gift to Wales. In 1967 It exported a record. 1,500,000,000 coins. Those who Plastic Ornaments Eight Reel Ribbon helped win the big foreign con Pine Tree tracts say that "the Intangible mystique" of the royal con c nection is a valuable sales aid, 79 59 to back up the mint's own rep. utatlon for outstanding quali ty. Crystal-clear ornaments The Royal Mint stands oa Tower Hill, close by the Tower Wide variety of inserts flowers, pixies, Santa, etc. 8 reels with 100-ft. total Assorted colors, patterns A bright gift-wrap touch ot London. Its deputy master1, and comptroller, J. H. James,! calls it "the embodiment ot 4-RolI Gift Wrap 7-LightSet centuries of moneymaking.", By about the year 1300 "thai moneyers" were already at - SAVE 4.09 work in the Tower. Even in the QQc seventh century the Kings of Mercia had their London mint' working. James has strong views about coins. Thev have a1 20-ft. long x 30-in. wide New dramatic designs lovely choice of colors Our Regular Low Price 14.97 Burns independently Rainbow-colored bulbs Decorates frees, wreaths 'marked and resnectabla1 stale tradition behind them,"j he recently told a .parliament tary committee. He also pointed up a fact little known in England. Discussing banknotes, he said that "to some extent, In the 35 Midget Light Outdoor Set United States, banknotes came into being because they! loathed our coins because wo' foisted them . on Americans' A stately beauty, with 129 luxuriant branches Takes beautifully lo all your Christmas decorations for a truly festive look Very practical ... ft can't shed, can't wilt Provides year after year of lasting beauty A wonderful focus for holiday festivities Complete with deluxe stand to hold it steady Use it, then store it away for next year Buy this beauty now at our low holiday price 3 when they were colonies. And as soon as possible they went over to notes in consequence.! Many other countries followed: thelrexamplo." Soon the money making ca- acitles of the Royal Mint are, to be put to their biggest test. Our Regular tow Price 4.97 Bright way to welcome your holiday guests Includes odd-ort connectors, 2 spare bulbs Britain is to switch to a ded- mal currency, and "D Day" for decimals has been set for. "rb. 15, 1971. The change will1 be what the Decimal Currency; board experts have called' the greatest revolution in the! history of our currency." At least 6,500,000,000 exist. CHARGE ALL YOUR TRIM-A-TREE NEEDS AND CHRISTMAS GIFTS AT J. M. FIELDS... NO MONEY DOWN! Ing coins will have to be with' drawn and replaced by decl mat coins in two and a half, years. Two hundred million Hi, shilling ($1.20) notes will bo M ryy rT7T I I called in and destroyed to make way for the new 10 shilling coins. They will be called 50 new pence ($1.20). j This is the highest-valuej coin in the new system and tho; government said economlo; reasons were behind tho choice of metal rather than, paper for this unit. The 10 still-; ling note lives only four or five; months and the cost of its dis-j trlbution and withdrawal arol high. A coin costs more to pro' duce, but It has a life of half a century. Existing British coins are gradually being withdrawn be- fore 1971. By the end of lfitiS.I for example, the cupro-nickel half crown piece (30 cents) will disappear. Tho lowly half-i penny (1-2 cent) will be wiih- drawn and demonetized by August, 19B9. The Royal Mint Is thus hav-! Ing problems Just as It is being1 uprooted from its historic but,' Geometric Design cramped site on Tower Hill to' spot called Llantrisant In, Here's A Great Gift For Music Lovers TOP SELLING LP. RECORDS Tagged With A Holiday-Low Price south Wales. While the shift' from London is being phased1 over several years, the Mint's' machinery still must cope "Sunburst" Bar Ware with the new and hiifie output' of domestic decimal coinage' plus majorexport orders. , The move will be costly but,, on its present accounting sys-i tern, It spells big profits too.! The Royal Mint is uniquei among government depar-. ments in that it has long been! a money maker in both senses of the words. Average profits' handed over to the Treasury,' each year recently have been mm about $l'6.4 million. ' r- . - . . - - Chief source of this profit .1 raesvs !ACH has come from a method, which James calls "a bit bo-i gus" and is known by the an-1 W - :1 tki each cient title of "seigniorage.", Under the system the Royal Mint sells new coinage to Brit-1 l':m':- sh banks at Its face value and , - It then credits Itself with the riif-1 ference between this value and actual production costs. 8-pc. 12-oz. high ball set 8-pc. 8-or. old fashion set 46-oz. snack or ice bucket set with tongs 32-oz. cocktail shaker All in a handsome geometric "Sunburst" pattern circled in a colorful green A great asset to holiday parlies Attractively gift-boxed Party-Time Serving Dishes This rake off on "seignior-. hJi ' .-XJ PETER, PAUL & MARY late Again WARNER BROS. age" is very large by commer-, cial standards. It will boom, Bill COSBY ZOO Miles An Hour WARNER BROS. GARY PUCKETT Incredible COLUMBIA ARETHA FRANKLIN Aretha Franklin ATLANTIC j nAr. f ii I'n i linn mil iii . ii uinn-,-,.- mi i I,,, nmnim mm. j j when Britain gets her decimal currency because of the murhj bigger denomination coins whlrh will not be costly to make. There will have to be 200 million coins of the 50 nrw pence ($1.20) value alone and, they will cost only a tiny frac-i tion of that total tomake. 166 mIL EACH The Royal Mint's export. men, however, say they would, never dream of operating this ancient system with the 50 or Artists Include: HERB ALPERT ARETHA FRANKLIN UNION GAP . YOUNG RASCALS . BOX TOPS SIMON & GARFUNKEL MANY MORE OF YOUR FAVORITES 2-or-3-fier tidbit tray so foreign government cus-' FOR el iz3 tomers. On the other hand1 they never take an overseas' order without a profit margin1 either. 1 Chip 'n dip Compote server Lovely pedestal bowl Elegant in brass and crystal-clear glass Diamond cut pattern for added luxury I I SS The Queen's Award to In dustry already has gone to the Royal Mint for excellence in' exports. But unlike other gov-; enment departments It oper-i ates In an unorthodox non-CI-vil Service fashion. It uses SHOP WESTWARD CENTER 683-6133 2501 OKEECHOBEE KD. the services of a commercial open daily 9:09 am to 11:99 pm Sunday 11:99am to 9:99 pm liORTII PALM BEACH 844-3557 U.S. 1 1 NORTH LAKE BLVD. fRT. 809) firm and one which happens to print about 70 per cent of all the world's banknotes as Its chief foreign

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