Posts Tagged ‘Coin collection’
Why you won’t find 2018 dated 1p and 2p coins in your change…
It’s been revealed that no 1p and 2p coins were struck for circulation by The Royal Mint last year.
This marks the first time in decades that no penny coins were struck in a year. In fact, the last time we saw a year with no new 1p coins was way back in 1972! And it’s been 35 years since the last time no new 2p coins were struck for circulation.
The future of the penny
Back in May 2019, the UK Treasury confirmed that 1p and 2p coins will continue to be used “for years to come”. Find out the full story here.
This news emerged following concerns that the 1p and 2p coins would be scrapped after their validity was questioned in the 2018 Spring Statement.
Members of the public were outraged by the idea of the humble penny being scrapped. However it isn’t just sentimental value which has safeguarded the future of the penny.
It’s estimated that around 2.2 people are thought to be reliant on cash to live their daily lives. This includes the elderly, vulnerable people and rural communities who would likely be hit hard if cash availability were to decline.
Card payments are on the rise
Nevertheless, it is clear that card and electronic payments are on the rise and whilst around 500 million 1p and 2p coins are usually issued each year, the fact that none were produced last year goes to show how low the demand for these coins currently is.
We already know that no 20p or £2 coins were struck for circulation in 2017 and it’s also been revealed that no £2 coins were struck for circulation in 2018 either.
A spokesperson from the Treasury said, “We didn’t ask the mint to issue any £2 or 1p/2p coins this past year because there are already enough of these in circulation. Our coins are of the highest quality and the amount we ask the Royal Mint to produce every year depends on demand from banks and Post Offices.”
Commemorative £2 coins
Despite no £2 coins entering circulation since 2016, collector editions of the new commemorative designs have still been produced by The Royal Mint to mark Britain’s most important anniversaries.
Whilst some people are happy to pay a little more to secure the latest coins in superior quality, others are understandably frustrated by the lack of coins entering circulation recently.
To give collectors the chance to own 2019 UK £2 and 50p coins for just face value, this year we launched the Change Checker Face Value Coin Ballot, which you can find out about here.
Spending a penny
It’s thought that around 10.5 billion 1p coins are currently in circulation, but the Treasury estimates that roughly 60% of copper coins are typically only used once before being stashed away or lost.
Despite the lack of 1p and 2p coins being struck for circulation last year, we know that the future of our UK coins is still secure (for now at least), but how often do you find yourself actually spending your 1p and 2p coins?
Let us know in our Facebook poll:
If you’re interested in coin collecting, our Change Checker web app is completely free to use and allows users to:
– Find and identify the coins in their pocket
– Collect and track the coins they have
– Swap their spare coins with other Change Checkers
Sign up today at: www.changechecker.org/app
August 2019 Scarcity Index update!
Discover how sought-after your coins are with the latest Scarcity Index update!
This information has been compiled using data from the Change Checker Swap Centre (find out how it works here) and presented in the easy to use indexes below, with arrows to signify how many places up or down a coin has moved since the last Scarcity Index.
A-Z 10p Scarcity Index
There has been quite a bit of movement on the A-Z 10p Scarcity Index since the last update, which is to be expected as more of these coins start turning up in people’s change and duplicates are swapped.
Moving up 7 places to take the top spot on the index is Z for Zebra Crossing, which is now the most sought-after A-Z 10p.
Amongst the top 4 scarcest coins on the index is the N for NHS 10p, which has also jumped up 7 places, although the biggest upward movement actually goes to A for Angel of the North. This coin has managed to move up the index by 12 places and now sits in the middle of the pack.
Conversely, the biggest downward movement goes to K for King Arthur (previously at the top of the index) which has now dropped by 21 places to sit amongst the bottom 5 coins.
It’s important to note that the A-Z 10p Scarcity Index is currently based on estimated mintage figures, assuming each coin has been struck in equal quantities. This includes the extra 2.1 million coins released in 2019. It will certainly be interesting to see what happens to the index once the official mintage figures are confirmed.
50p Scarcity Index
There’s no surprises at the top end of the 50p Scarcity Index, with the Kew Gardens remaining on top and the next top 5 coins remaining unchanged.
Whilst there has been some small movement amongst the Olympic 50ps, aside from the Kew Gardens, these coins dominate the top 17 places on the index.
In fact, the only non-Olympic 50ps to feature on the first half of the index are the Kew Gardens, Jemima Puddle-Duck, Sir Isaac Newton and Suffragettes 50ps, which remain in the same position as the last update.
The biggest upwards movement for the 50p index actually goes to Canoeing and the Battle of Hastings, both of which have moved up by 6 places.
The Battle of Hastings 50p was re-issued this year as part of the 50th Anniversary of the 50p Military Set, which might have increased demand for the circulation coin.
Both Fencing and Ironside 50ps have actually moved 8 places down the index since the last update, although it’s worth noting that Ironside moved up 9 places on the last index, so is mostly likely just settling back into place following increased popularity last quarter.
We’re eagerly waiting for when the mintage figures for 2018 coins will be released so that we can update the Scarcity Index and add some new coins into the mix!
£2 Scarcity Index
There’s been quite a shuffle on the £2 index this quarter and whilst the Commonwealth Games Northern Ireland £2 remains on top, the other Commonwealth Games coins have had a move around.
In fact, the Commonwealth Games Wales £2 has now been overtaken by Olympic Centenary and King James Bible which have managed to break up the Commonwealth Games coins by pushing Wales down to 6th place on the index.
The biggest increase goes to the Gunpowder Plot £2, which has moved up the index by 7 places to now sit nearer the middle of the pack.
Rugby World Cup has taken a big hit this quarter and has actually moved down 10 places to second from the bottom.
This has effectively bumped up the bottom few coins by one or two places each.
It will be really interesting to see how the £2 index will change in future if more £2 coins enter circulation and mix up the rankings.
How your 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 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 200 times face value on eBay.
You can use the 6 point guide to help you determine a more realistic value for your coins.
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.
If you’re interested in coin collecting, our Change Checker web app is completely free to use and allows users to:
– Find and identify the coins in their pocket
– Collect and track the coins they have
– Swap their spare coins with other Change Checkers
Sign up today at: www.changechecker.org/app
The Top 7 coins for your kids to collect this summer
With the summer holidays in full swing, what better time could there be to introduce coin collecting as a hobby for your kids?
Not only is it free, fun and flexes their mental muscles, it’s also a great hobby for the whole family to get involved in.
From British history to influential figures and even favourite book characters, the different coins your family can find in your change feature a whole host of fascinating themes to discover.
But which ones should you be looking out for this summer?
We’ve put together a list of the top 7 coins for your kids to collect over the holidays, so let us know if you manage to find them all!
1) Sherlock Holmes 50p
A great coin to kick start your family coin hunt is the Sherlock Holmes 50p.
This coin was released in 2019 to celebrate the 160th anniversary of the birth of Sir Arthur Conan Doyle, creator of Sherlock Holmes and prolific writer of detective stories.
The iconic profile of Sherlock Holmes can be seen in the middle of the coin, surrounded by the titles of Doyle’s stories – but you might need a magnifying glass to read them!
Over the summer is the perfect time for your kids to inspect their change and become detectives to track down this new coin!
2) Great Fire of London £2
The detailed image on this coin really brings to life the history behind one of the most well-known disasters to hit London, The Great Fire.
Issued in 2016 to mark the 350th anniversary of the disastrous event, this coin is a great way for children to learn about our country’s history.
Interestingly, it was originally thought that 5,135,000 Great Fire of London £2 coins were issued for circulation, but recently these figures have been corrected and it turns out that only 1,625,000 actually entered circulation.
So it will be a fun challenge to see if your family can find one of these coins in your change over the summer.
3) 2016 Peter Rabbit 50p
Everyone loves Peter Rabbit! In fact, Peter Rabbit is so popular that he’s the only character to feature on the Beatrix Potter 50p coins FOUR TIMES!
This coin is from the 2016 series – the first coins issued to celebrate the 150th anniversary of Beatrix Potter’s birth.
When these adorable 50ps were released they caused a collecting frenzy, with collectors and fans of the Beatrix Potter tales scouring their change to find them.
The fact that we’ve now seen three full series and an extra Peter Rabbit 50p coin this year just goes to show how popular these coins are and how they’ve inspired a new generation of collectors.
4) Gunpowder Plot £2
Another coin marking a key historical moment is the Gunpowder Plot £2, issued in 2005 to commemorate 400 years since Guy Fawkes plotted to blow up the Houses of Parliament.
If your family manage to find this one in your change, make sure you look out for some of the unusual spelling mistakes in the edge inscription.
The timeless quote “Remember, remember the fifth of November” has been found with various combinations of Pemember, Pemembep, Novemebep and so on.
The common factor here is the ‘R’ which appears as a ‘P’ due to the down-stroke of the R coinciding with the milling around the edge, and as the coin has worn over time, the letter has become less defined.
5) Team GB 50p
This 50p was struck in 2016 to wish Team GB good luck in the Rio Olympics.
Back in 2012, the London Olympics were celebrated with a series of 29 Olympic 50ps which created a flurry of collecting across the nation!
Olympic 50ps are some of the most sought-after coins you can find in your change, so make sure you take a look to see if you can find all 29 different sports.
Many consider the Team GB 50p to be the 30th Olympic 50p and, excitingly, the recent Royal Proclamation has revealed that next year a brand new Team GB 50p will be issued for the Tokyo Olympics as well!
6) Paddington™ at the Station 50p
Do you remember Michael Bond’s classic story about the friendly bear from Peru who came to London?
In 2018 two Paddington 50p coins were released to celebrate the 60th anniversary since this British bear’s first book appearance.
This coin was the first to be released, showing the bear sat on his suitcase at Paddington Station, based on the CGI adaptation from the 2014 film.
Whether you remember the books, or your kids are fans of the films, I’m sure your whole family will love finding this coin in your change.
And what’s more, two new Paddington coins are set to be released this year as well!
7) A-Z of Great Britain 10p
Perhaps some of the most exciting coins to be issued in recent years are the A-Z of Great Britain 10p coins.
These are the first UK commemorative 10p coins ever issued and each one features a different Great British icon from A-Z .
With 26 different designs to find, it can be a tricky challenge to track them all down, but why not set the challenge to try and find the first letter of your name on a 10p coin?
You can find out all about the different designs here.
10 Top Tips for Collecting:
- Ask family and friends to help look out for coins
- Try collecting as a group and working as a team
- Pay with cash when you’re out and about so that you receive change
- Let people know what coins you’re looking for. Adults can post on the Change Checker Community Facebook group
- Check everywhere! In the house, down the back of the sofa, piggy banks, in the car…
- Ask for specific change from shops
- Ask your local shop to look out for specific coins for you
With so many wonderful coins in circulation, it won’t take long for you to start building your collection using these Top Tips.
We’d love to hear how you get on with your coin hunting over the holidays, so make sure you leave us a comment below with the coins you’ve been lucky enough to find!
Best of luck Change Checkers!
If you’re interested in coin collecting, our Change Checker web app is completely free to use and allows users to:
– Find and identify the coins in their pocket
– Collect and track the coins they have
– Swap their spare coins with other Change Checkers
Sign up today at: www.changechecker.org/app