Bermuda Consolidated Legislation

 

BERMUDA STATUTORY INSTRUMENT

BR 56/1998

BERMUDA MONETARY AUTHORITY (1998 TRIANGULAR COINS) REGULATIONS 1998

ARRANGEMENT OF REGULATIONS

1 Citation

2 Interpretation

3 Issue of the 1998 Triangular Coin

4 Denominations

5 Form and Design

6 Standard weight and composition

SCHEDULE

[made under section 13 of the Bermuda Monetary Authority Act 1969 [title 16 item 11] and brought into operation on 7 August 1998]

Citation

1 These Regulations may be cited as the Bermuda Monetary Authority (Triangular Coins) Regulations 1998.

Interpretation

2 In these Regulations—

"the Authority" means the Bermuda Monetary Authority;

"the Minister" means the Minister of Finance;

"the 1998 Triangular Coins" means the coins issued in 1998 by the Authority under regulation 3.

Issue of the 1998 Triangular Coins

3 The Authority may, in 1998, issue the 1998 Triangular Coins.

Denominations

4 The denominations of the 1998 Triangular Coins shall be as follows, that is to say—

$1 (one dollar);

$3 (three dollars);

$30 (thirty dollars);

$60 (sixty dollars)

$180 (one hundred and eighty dollars).

Form and Design

5 The form and design of the 1998 Triangular Coins shall be in accordance with the sample coins deposited with the Authority in particular—

(a) the obverse design of the coin shall be the portrait by sculptor Raphael Maklouf of Her Majesty Queen Elizabeth II in profile wearing the royal crown, surrounded by a single rope border, together with the inscription "ELIZABETH II" and "1998", and the denominational value of each coin shall appear on the perimeter thereof;

(b) the reverse design of the coin shall feature the Deliverance in full sail superimposed on a map of the northern Atlantic Ocean, surrounded by a single rope border with a knot in each corner, with the inscription "BERMUDA" on the lower perimeter.

Standard weight and composition

6 The standard weight and composition of the 1998 Triangular Coin, and the amount of tolerance and variation allowed therein shall be as set forth in the Schedule.

SCHEDULE (regulation 6)

					REMEDY ALLOWANCE
Denomi-nation	Standard	Stan-dard	Stan-dard
	Compo-sition	Weight	Dia-meter	Edge	Weight	Compo-sition	Dia-meter
		(grammes)	(milli-metres)		(grammes)		(milli-metres)
One hundred and eighty dollars	.999 gold.	155.52	65.00	plain	1.460	-0.0 +0.0009	0.125
Sixty dollars	.999 gold	31.489	35.00	plain	0.385	-0.0 +0.0009	0.125
Thirty dollars	.999 gold	15.550	27.00	plain	0.209	-0.0 +0.0009	0.125
Nine dollars	.999 silver	155.520	65.00	plain	1.460	-0.0 +0.0009	0.125
Three dollars	.999 gold	1.56	15.00	plain	0.000	-0.0 +0.0009	0.125
Three dollars	.925 silver .075 copper	20.000	35.00	plain	0.302	Millesimal fineness .925 0.005	0.125
One dollar	.925 silver .075 copper	17.060	27.00	plain	0.240	Millesimal fineness .925 0.005	0.125
One dollar	.750 copper .250 nickel	17.250	35.00	plain	0.520	Millesimal fineness .750 0.02	0.125

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