§ Mr. Harold Walker
asked the Chancellor of the Exchequer if he will make an estimate of the approximate weight of copper embodied in the coinage in circulation; and what is now the value of the materials contained in the penny and halfpenny, respectively.
§ Mr. MacDermot
The copper content of the coinage estimated to be in circulation is about 42,000 tons. The current value of the metal content of a penny is approximately 1.2d. and of a halfpenny 0.7d. These figures are based on the London Metal Exchange settlement price for copper wirebars on 27th July of £534 per ton, and on tin at £1,263 per ton and zinc at £125 per ton.