yesterday went on display at the Bermuda Monetary Authority (BMA), in a week-long exhibit opened by Premier Pamela Gordon.

The Bermuda Hogge money coins, six of which were purchased by the Authority and 19 of which are on loan from the Department of Parks, are believed to be examples of the first colonial coinage using the pence system.

Officials of the Authority yesterday had some misgivings about revealing exactly what they paid for the six coins they purchased over the last ten years.

But it is common knowledge that a set of four Hogge money coins were purchased during this decade for $80,000.

Significant auction houses, like Christie's and Sotheby's have been involved in their auction, before which it had not been possible to establish their market value.

BMA chairman Mansfield Brock said yesterday that while the coins may be highly valued by collectors, they are considered to be priceless to Bermuda.

The 19 are the Castle Island collection, which Mr. Brock said comprises a significant part of Bermuda's original coin heritage. They were found during a three year archaeological dig on Castle Island which ended in 1996.

By law, the 19 coins are the property of the Crown, through the National Parks Commission, which has provided them to the Authority on permanent loan.

Mr. Brock said, "The Bermuda National Parks Commission can rest assured that the Authority takes its responsibilities very seriously and recognises that it is privileged to be entrusted with the custody of these pieces of national heritage.

"The Authority is grateful to the Bermuda Maritime Museum for having coordinated with the Institute of Archaeology in the UK which, free of charge, researched and preserved the coins.'' He said the Authority was proud to be the conduit through which this important segment of national heritage is on display to the public.

Mr. Brock added, "I understand that the only other display of Hogge money in Bermuda (or anywhere else, for that matter) is at the Bank of Bermuda.

"During 1994 a number of members of the Authority's staff were among the volunteers assisting with the dig at Castle Island, and one, Leanora Stovel-Smith, celebrated the Authority's 25th anniversary year by becoming the first Bermudian to find Hogge money in an archaeological context. Leanora's coin is included in today's display.'' The Authority yesterday also unveiled its new book "Coins of Bermuda'' authored by BMA general manager Malcolm Williams, Bermuda Maritime Museum director Dr. Edward Harris and former BMA official Peter Sousa.

The three authors were on hand at the BMA last night to sign copies of the book, now on sale for $35.

The first book devoted to Bermuda coinage, it traces the history of Bermuda currency from the early Hogge money to last year's minting of the first triangular coins.