Hong Kong Monetary Authority admits short-changing buyers of shredded banknote paperweights found to be light on cash content

The Hong Kong Monetary Authority has admitted to a mistake regarding the sale of paperweights made from shredded HK$1,000 banknotes. These paperweights, sold around six years ago, were advertised as containing HK$138,000 (US$17,640) in shredded cash. However, the authority has recently confessed that the labels were inaccurate. The paperweights, which were sold at the authority’s information centre, contained pebbles to make them heavier and more effective as paperweights. This addition, however, reduced the space available for the shredded banknotes, resulting in fewer banknotes inside each paperweight than stated on the label. The authority has expressed its apologies for any inconvenience caused by this error. They have also offered a refund to anyone who purchased the paperweights. These paperweights were first made available for sale as early as 2017, and were created using approximately 138 old HK$1,000 banknotes. Despite being sold for HK$100, the authority humorously claimed on the labels that the paperweights had a worth of HK$138,000. Despite this controversy, these paperweights can still be found for sale on the online marketplace platform Carousell, with prices ranging from HK$420 to HK$600. Hong Kong has trade descriptions legislation in place to protect consumers from being misled by false or incomplete information about goods on sale. However, the Customs and Excise Department has declined to comment on whether they are investigating the authority for potential false advertising, stating that they do not comment on individual cases. Those who wish to obtain a refund for their paperweight can contact the information centre at 2878 1111 or by email.