Hong Kong Mint facts for kids
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| Industry | Metalworking |
|---|---|
| Founded | 1866 |
| Defunct | 1868 |
| Headquarters | , |
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Area served
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Hong Kong |
| Products | coins |
The Hong Kong Mint (Chinese: 香港造幣廠) was a special factory in Hong Kong where coins were made. It only existed for a short time, from 1866 to 1868. This mint was located on Cleveland Street in Causeway Bay. It was the very first place in Hong Kong to make its own coins. To help the mint work, a special Mint Dam was built on the side of Mount Butler to provide water.
Why Was the Hong Kong Mint Built?
In the early days of colonial Hong Kong, people used many different types of money. Even though British money, called sterling, was the official currency, most people, especially Chinese merchants, didn't really want to use it. Instead, various silver coins were the main way people bought and sold things.
To make sure there was a steady supply of silver coins in Hong Kong, the leader of Hong Kong at the time, Hercules Robinson, decided to create the Hong Kong Mint. This decision was made in 1864.
The Mint's Short Life
The Hong Kong Mint officially opened on May 7, 1866. It was managed by Thomas William Kinder, who was the Master of the Mint. However, the mint closed just two years later, in 1868. This happened during the time when Richard MacDonnell was the Governor of Hong Kong.
There were a few reasons why the mint closed so quickly. People didn't really like the new coins it produced. Also, the silver coins being made were losing their value, which caused big financial losses for the government. After it closed, the land where the mint stood was sold to a company called Jardine Matheson in 1868. The machines used to make the coins were sold to the new Japan Mint in Osaka.
See also
- Hong Kong dollar
- Sugar Street
