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The 1967 sterling devaluation (or 1967 sterling crisis) was a devaluation of sterling from $2.80 to $2.40 per pound on 18 November 1967. It ended a long sterling crisis that had started in 1964 with the election of Labour in the 1964 general election, [1] but originated in the balance of payments crises of the preceding Conservative government.
After a brief period in which the deflationary measures relieved sterling, pressure mounted again in 1967 as a consequence of the Six-Day War, the Arab oil embargo and a dock strike. [17] After failing to secure a bail-out from the Americans or the French, a devaluation from US$2.80 to US$2.40 took effect on 18 November 1967.
Key dates for the series include the 1939-D, and 1950-D nickels. The 1939-D nickel with a mintage of 3,514,000 coins is the second lowest behind the 1950-D nickel. The cause of the key date of 1939 stems from the new design that excited collectors the year prior, after the initial hype had settled down fewer nickels were saved.
Bicentennial reverse, 1976 (Nickel-clad copper unless otherwise noted) Year Mint Mintage [14] Comments 1976 (P) 809,784,016 Struck in 1975 and 1976
Sterling crisis may refer to: 1931 sterling crisis, emergency measures during the Great Depression; 1949 sterling crisis, devaluation; 1967 sterling crisis, devaluation; 1976 sterling crisis, IMF loan; 1992 sterling crisis ("Black Wednesday"), depreciation
The UK government devalued the pound sterling in November 1967 from £1 = $2.80 to £1 = $2.40. This was not welcomed in many parts of the sterling area, and, unlike in the 1949 devaluation, many sterling area countries did not devalue their currencies at the same time. This was the beginning of the end for the sterling area.
Initially, British and Australian coins circulated in New Zealand. The devaluation of the New Zealand pound relative to sterling in the 1930s led to the issue of distinct New Zealand coins in 1933, in denominations of 3d, 6d, 1/– (one shilling), 2/– (or florin) and 2/6 (half-crown), minted in 50% silver until 1946 and in copper-nickel from ...
The Silver Proof set became a standard product of the United States Mint in 1992, containing a dime, quarter, and half dollar composed of 90% silver. The compositions for the penny, nickel, and dollar (introduced to the set in 2000) remained the same as in the standard proof sets. [ 21 ]