Posts Tagged ‘Coins’
Why you won’t find any 2017 20p coins in your change…
For those of you collecting date runs, you might have noticed that in 2017 The Royal Mint didn’t strike a single £2 or 20p coin for general circulation.
In 2016, nearly 29 million £2 coins and almost 213 million 20p coins were struck for circulation, however the next year that number dropped to 0.
From the graph above, you’ll notice that whilst most denominations had relatively few coins struck in 2017 compared to 2016, the mintage figure for £1 coins for both years is comparatively very high.
Introduction of the new £1
It’s thought that the introduction of the new 12 sided £1 coin to replace the old round pound in 2017 affected the demand for the other coins in circulation.
This could be down to the fact that the public were emptying their piggy banks and checking their loose change to make sure their old pound coins were used up before shops stopped accepting them. In doing so, they also ended up spending other coins in their change, meaning there was plenty of cash to re-circulate, and not as much demand for new coins to be struck for circulation.
This coupled with the growth of card payments and the decline of cash transactions, as well as the impressive 25-30 year lifespan of UK coins meant that enough £2 and 20p coins could be re-circulated in 2017 and new coins weren’t needed.
The Royal Mint had been expecting this drop in demand, as had been seen in similar cases overseas when coins were withdrawn.
Where does demand for cash come from?
The Royal Mint does not actually have any real control over how and when coins go into circulation, as this is based on demand.
HM Treasury and the large cash distribution services run by the Post Office and some banks, as well as private operators handle, sort and distribute the billions of coins in circulation, even swapping stocks between themselves.
The Royal Mint and cash distribution services regularly review the amount of coins in circulation and it’s only when they are short of a particular denomination that stocks will be called from The Royal Mint, who act as the manufacturer of the coin on behalf of the Treasury.
Surplus coins will be re-circulated before new coins are released.
Rare 50p coins from 2017
Whilst more 50p coins were struck in 2017 than 2016, two 2017 designs in particular actually have some of the lowest mintage figures of any 50p coins in circulation, excluding the Olympic 50p series.
The 2017 Royal Shield actually comes in as the second rarest 50p in circulation, closely followed by the 2017 Sir Isaac Newton 50p.
Take a look at our 50p and £2 mintage charts here.
Where can I find the 2017 £2 and 20p coins?
Whilst no £2 or 20p coins were issued for circulation in 2017, brilliant uncirculated commemorative coins were still issued, including the Jane Austen and First World War Aviation £2 coins.
These coins, along with the 2017 Britannia £2 and the 2017 20p which weren’t issued for circulation were also featured in brilliant uncirculated quality within the 2017 Annual Coin Set, which has now sold out at The Royal Mint.
This means that the only way to get hold of these coins is to purchase the set on the secondary market, with prices typically around £65, although some sets have sold for over £100.
So far the 2018 £2 coins haven’t been released into circulation and whilst the 2019 Royal Shield 50p has been seen in circulation, we’re yet to hear if any of the other 2019 coins will turn up in our change.
Do you think the move towards a cashless society could be on the horizon, or are we still recovering from the surplus cash flow in 2017? Let us know in the comments below!
Secure the commemorative coins from 2017 for your collection!
Today you can own all 4 of the United Kingdom’s commemorative coins from 2017 with the Change Checker Commemorative Coin Pack, including the rare Sir Isaac Newton 50p and the Jane Austen and First World War Aviation £2 coins that can’t be found in circulation.
Your Latest Scarcity Index Update!
How sought-after are your coins? Let’s find out with the latest Scarcity Index update!
We’re delighted to share with you the latest A-Z 10p, 50p and £2 coin indexes, with all the information you need to see how sought-after the coins in your collection really are.
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 to help you track the performance of your coins.
A-Z 10p Scarcity Index
We’re now starting to see the A-Z 10p Scarcity Index stabilise as more data is gathered from the Change Checker web app to give a more accurate representation of how sought-after each design is.
K for King Arthur and S for Stonehenge remain at the top of the index and these along with F for Fish and Chips, Y for Yeoman Warder and R for Robin are the top 5 you’ll want to be looking out for.
Are you lucky enough to have any of these in your collection?
The biggest movement on the index is an 11 place drop going to P for Postbox, which is now amongst the 5 least scarce A-Z 10p coins.
V for Villages still remains at the bottom, but I for Ice Cream has jumped up 4 places to move out of 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
We all know that the Kew Gardens is the UK’s most sought-after 50p and unless it’s revealed that another 50p has an even lower mintage figure, this won’t change and we’ll continue to see the Kew Gardens at the top of the 50p Scarcity Index.
There’s been some small movements amongst the Olympic 50ps which dominate the top end of the index, with some of the coins moving a few places here and there and the Gymnastics 50p actually increasing in scarcity by 5 places.
The scarcest of the non-Olympic commemorative 50ps is Jemima Puddle-Duck, who’s position remains unchanged for this update.
Despite having a lower mintage figure, the 2017 Sir Isaac Newton sits one position below Jemima Puddle-Duck on the index, making these two and the Kew Gardens the only three coins to break up the Olympic 50ps.
Volleyball has actually moved down the index by 7 places, making it the second least scarce Olympic 50p.
Team GB rose up the index by 9 places at the last index, but has now moved back down 11 places to sit in the bottom 5 least scarce 50p coins in circulation.
£2 Scarcity Index
As with the Kew Gardens 50p, the Commonwealth Games Northern Ireland continues to sit at the top of the index due to its incredibly low mintage figure.
The other Commonwealth Games £2 coins have had a small shuffle around, with Scotland taking the spot for second scarcest £2 in circulation.
The rest of the £2 index has only seen minor changes, which is to be expected as we haven’t seen new £2’s entering circulation since 2017.
However, one change to note is the Great Fire of London, which has moved 4 places up the index.
This is actually due to the updated mintage figures which reveal that whilst the coin was previously listed with a mintage of 5,135,000 there are actually only 1,625,000 of these coins in circulation. We’ve updated our mintage figure charts to reflect this, as well as the changes to the 2016 Peter Rabbit 50p, Shakespeare Histories and Shakespeare Tragedies £2 mintage figures.
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
Your chance to own future UK 50p and £2 coins for FACE VALUE!
With fewer coins going into circulation these days, we want to give collectors a fair chance to secure the latest UK coins for face value. And, with our Face Value Coin Ballot – you can do just that!
Simply sign up to the Face Value Ballot and each time there’s a new UK 50p or £2 released, you’ll be entered into our ballot for your chance to get your hands on it for just face value POST FREE!
For new UK 50ps, we randomly select 500 people from the ballot entries list to get the latest coin in superior Brilliant Uncirculated quality for just 50p, and for new UK £2 coins, 250 lucky winners will be randomly selected to get theirs for just £2.
If you’re lucky enough to be chosen, we’ll still keep your name in the pot for all future releases – so if you’re really lucky, you might even get picked more than once!
And don’t worry, if you’re selected as a winner but decide you no longer want to purchase the coin at face value, you’re under no obligation to place your order.
Sign up to the Face Value Coin Ballot for FREE today >>
FAQs
1. How do I enter the Face Value Coin Ballot?
Simply click here and follow the step by step instructions.
2. Does it cost anything to enter the ballot?
No, it’s FREE to enter the Face Value Coin Ballot. If you are successful, we’ll email you a link to pay for your coin at face value post free.
3. Who can enter the Face Value Coin Ballot?
The ballot is open to all UK residents.*
4. If I entered the ballot previously, do I need to sign up again year?
No, if you’ve previously entered the ballot, you’ll be automatically entered for future releases – so you don’t have to do anything!
5. How many times can I enter the ballot?
Ballot entry is limited to one per household. Additional applications will not be entered into the ballot.
6. Will I need to enter the ballot each time a new coin is released?
No, you only need to enter once to be included in the ballot for all upcoming UK new issue 50p and £2 coins.
7. Will I need to enter again if I win a ballot?
No, even if you win, we’ll still automatically include you in the next ballot.
8. How will I know if my ballot entry has been successful?
The successful ballot entrants will be notified via email on launch day. You will have 7 days to confirm your reservation.
9. If I am successful, what do I need to do?
We’ll email you with a link to purchase your new coin for face value. You’ll need a credit/debit card to confirm your payment. Payment will not be taken until after the coin has been despatched.
10. If I am successful, when will I receive my coin?
You should receive your coin 3-5 working days after despatch.
11. If I am successful, do I have to complete my order?
If you are successful in the ballot, you have the choice of whether you wish to complete your application by making your payment. If you choose not to, there is no obligation to place your order and your allocation will automatically be forfeited after 7 days.
How to contact us:
If you have further questions please click here to contact our Customer Service Team
Please do NOT add [email protected] to your spam list as it may affect you receiving your successful ballot allocation. We recommend you add [email protected] to your safe senders list.
Terms & Conditions
- Ballot entry is limited to one per household. Additional applications will not be entered in to the ballot.
- The ballot will be drawn up to three days before each launch.
- The successful ballot entrants will be notified by email on the day the new coin is released.
- Successful entrants will be provided with an exclusive link to confirm their purchase of the newly released coin at face value. Please note that entrants must use the link from the email to secure the coin. We will not be able to place the order over the phone. Successful entrants will have 7 days in which to confirm their purchase. After that time their allocation will be forfeited.
- We reserve the right to vary the terms and conditions at any time, including, but not limited to, stopping the Face Value Ballot completely, closing the ballot early or extending the closing date and varying the number of coins available.
- *The ballot is not open to employees of 288 Group or their families.