50p Coins
2017 Quarter 3 Change Checker “Scarcity Index” Released
Following the launch of the Change Checker “Scarcity Index” earlier this year the Quarter 3 Index has now been published.
50p Scarcity Index
It’s of little surprise that Kew Gardens maintains its top spot as the UK’s most sought after circulation coin with a perfect score of 100.
Isaac Newton, which made it’s debut in our Q2 update, settles on a score of 15, dropping 8 points from 23. This is due to a higher than expected number of Change Checker’s having this coin in their collection.
The 2017 Peter Rabbit 50p joins the “Scarcity Index” after having been released into general circulation at the end of September. A score of 16 makes it the 2nd scarcest Beatrix Potter 50p.
It’s worth noting that we currently only have estimated mintages for these two coins; it’ll be interesting to see how they rank once official mintage figures are released.
£2 Scarcity Index
There’s not a lot of movement in our Quarter 3 £2 “Scarcity Index” update.
Commonwealth Games Northern Ireland regains its position at the top of the table after being briefly replaced by Commonwealth Games Scotland in Q2.
The overall value of the Commonwealth games series has dropped slightly, however these 4 coins are still some way clear of the London 2012 Handover in 5th place.
There are no new £2 coins to add to the Index as we’re still waiting for the Jane Austen and WWI Aviation coins to be released into general circulation. We expect this to happen in Q4.
How the Scarcity Index works
Generally collectors have had to rely upon mintage figures to identify the scarcest coins. But they only tell part of the story. Trying to find a good quality coin from 15 – 20 years ago, even for a higher mintage issue, is much more challenging than a more recent issue, as coins become damaged over time and are ultimately removed from circulation.
Additionally, some designs are more hoarded than others by people who might not normally collect coins – the recent poignant First World War £2 Coin series being an example. Finally, it can be up to a couple of years before the Royal Mint eventually confirms the actual mintage for an issue.
That’s why we have combined the mintage information with two other key pieces of information.
- How many of each design are listed as “collected” by Change Checkers, indicating the relative ease of finding a particular coin.
- The number of times a design has been requested as a swap over the previous 3 months, showing the current level of collector demand.
Importantly, as new coins are released and popularity rises and falls across different designs the Scarcity Index will be updated quarterly allowing Change Checkers to track the relative performance of the UK’s circulation coins.
How much are my coins worth?
The Scarcity Index does not necessarily equate to value but it is certainly an effective indicator. For example, the Kew Gardens 50p coin commands a premium of up to 160 times face value on eBay.
What about £1 Coins?
The £1 Scarcity Index has already been published for the Round £1 coins and, because they are no longer being issued, this is now set in stone.
Will the Sir Isaac Newton 50p coin become more scarce than the Kew Gardens?
It’s been reported in the media this week that the Sir Isaac Newton coin will become the most scarce 50p in UK circulation.
Will the Sir Isaac Newton 50p become the rarest coin in UK circulation?
A number of outlets have suggested that only 375 coins will be released giving it a mintage figure 560 times less than the Kew Gardens 50p coin.
An unspecified number of Sir Isaac Newton 50p coins were released into circulation in June
However, we can confirm that this is not the case.
For starters, back in June an unspecified number of Isaac Newton coins were released into circulation. Based on the number of reports we’ve had from Change Checkers, we would estimate that this initial release was in the thousands.
It is true that The Royal Mint are releasing a small amount of Sir Isaac newton 50p coins at Woolsthorpe Manor in Lincolnshire this week. However, the decision to release a low number coins at the birthplace of Newton is to commemorate the 375th anniversary of the scientist’s birth and is not the total amount that will enter circulation.
Further Sir Isaac Newton coins will be released, in a recent press statement The Royal Mint confirmed, “Members of the public from across the UK can expect to see the circulating edition of the coin in their change over the forthcoming months.”
However, at this stage it is impossible to say when and how many of the remaining Sir Isaac Newton 50p coins will enter circulation. The release of circulation coins is driven by demand from the banks.
It is quite possible that this coin will have a low mintage figure, maybe even less than 210,000, the number of Kew Gardens 50p coins. However, based on previous commemorative coin releases, we believe this to be unlikely.
Either way, we hope you have good luck in your search!
We’d love to know if you’ve found the Sir Isaac Newton 50p coin in your change. Let us know by answering our poll:
How does it feel to design the UK’s newest circulation coin? I caught up with Aaron West to find out.
Aaron West is part of the design team for The Royal Mint and is responsible for designing the latest coin released into circulation, the Sir Isaac Newton 50p.
Aaron West, a designer for The Royal Mint, signing the new Sir Isaac Newton 50p coin pack
This is the second circulation coin designed by Aaron, the first being the very popular Great Fire of London £2.
The two UK circulation coins Aaron has designed – The Sir Isaac Newton 50p and The Great Fire of London £2
I wanted to find out what makes a coin designer tick and Aaron kindly answered some of my questions:
How long have you been designing coins for The Royal Mint and how many have you designed to date?
I have been designing coins for over four years now. I have designed many coins but have been fortunate to win two design competitions.
How did you become a coin designer for The Royal Mint?
I joined The Royal Mint in June 2011. I applied for a maternity cover position and then was given a permanent position. I have been working as a designer for over seven years.
Which coins have you designed for The Royal Mint?
I have official coins designs for a £2 coin, The Great Fire of London and for a 50 pence piece, Sir Isaac Newton.
Aaron sketching his initial Sir Isaac Newton 50p design ideas. (Image: The Royal Mint)
Can you tell me briefly the process involved when designing a coin?
There is no specific process involved when designing a coin. It depends on the subject. For example, The Great Fire of London, I broke it down to three elements. Firstly I concentrated on the bottom of the design (the river and boats) then I moved onto the middle part of the design (buildings / skyline). The third / top part of the design (the smoke) was the most difficult part. I try to keep all of my designs simple because a lot of detail will not be clear on a small diameter.
Approximately how long does it take to design one coin?
Again, it all depends on the subject. I try to spend a few days on research before I start my design concepts. If the subject is complex then I’ll spend more time on research. It takes me approximately an hour for each design (rough sketch).
These sketches show the stages of the design process for the Great Fire of London £2 (Image: The Royal Mint)
What is the most challenging aspect when designing a coin?
The most challenging aspect when designing a coin is trying to fit everything in a small area. Coins are very small so to make a design stand out is very challenging.
How do you feel when you receive a coin that you’ve designed in your change?
Unfortunately, I have yet to find any of my designs in my pocket change but I am still looking. Some of my friends and family have found them and messaged me some pictures which was very thoughtful.
I am pleased that people are looking for them which makes me very proud. I am also very proud to a part of history.
The Isaac Newton 50p coin has a very intricate design for a small area
Finally, other than one of your own (obviously!) what is your favourite coin design and why?
My favourite coin design would have to be the Jane Austen £2 coin. I like the portrait which is featured in the centre but I particularly like the inner silver edge. The inner silver edge is a picture frame which works very well. I also like the stripes which on the design, they stand out.
2017 UK Isaac Newton CERTIFIED BU 50p
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