Will the new 12-sided £1 ever be worth a mint? Here’s how to coin it in

Brits were this week scrabbling to get their baseball glove on the new 12-sided £1 coin, which formally went into circulation on Tuesday. And with the Royal Mint doing a roaring deal in commemorative versions ( a platinum one cost £1,325 is already sold out ), and rare “ trial ” versions going for big money on eBay, possibly the high-profile launch could trigger a new wave of interest in mint collect. For some it will have revived memories of childhood mint collections – and prompted some scratch of heads about where on earth they might be nowadays – while others will be paying a lot more attention to their switch. But which coins are likely to end up being worth a reasonably penny, and which ones are only ever destined to be shrapnel ? When it comes to the UK ’ second neologism, part of the playfulness is the “ golden slate ” chemical element : one of the coins in your wallet or purse, or down the back of the sofa, could be worth more than some of the alleged collectors ’ items.

“ I think coin collection has seen a adult revival over the past five years, ” says Elizabeth Beckford, a “ numismatist ” at coin dealer Chard, based in Blackpool. She tracks some of this rear to media coverage a few years ago about the 50p man with a picture of the Kew Gardens pagoda on the back. only around 210,000 were issued to mark the 250th anniversary of the Royal Botanic Gardens in 2009, and collectors love them – their current value is put at £30, though they have sold online for equally much as £100. “ That made everyone start looking at their change, ” says Beckford .Edward III coin worth £460,000. Edward III coin worth £460,000. Photograph: Ian Nicholson/PA Archive/PA Images She says she has heard of kids emptying their piggybanks and finding coins that have been there for ages – and which are in good stipulate because they haven ’ triiodothyronine been rubbed around in people ’ randomness pockets – and that are deserving “ a little snatch more than they anticipated ”. The Coining It In web site, the resultant role of a link-up between Chard and comparison locate Gocompare.com, is a useful one-stop resource for checking out the rare UK and external coins, adenine well as some that you might encounter in your change if you ’ rhenium golden. The Kew Gardens 50p is on there, and sol is the 2p coin produced in 1983 that says “ New Pence ” alternatively of “ Two Pence ”. It ’ s not known how many of these are out there, and the web site puts their current value at £1,350 each. This workweek of all weeks, with Theresa May signing the letter that will formally trigger Brexit, it seems allow to note that 50p coins minted in 1992 to commemorate the UK ’ s presidency of the Council of the European Union are a identical desirable item. only 109,000 were produced, and any stay voters lucky adequate to have one should be mindful that they are worth an calculate £35. The mint depicts a conference mesa and 12 linked stars representing extremity states of the European community .Kew gardens pagoda coin worth £30. Kew gardens pagoda coin worth £30. Photograph: Royal Mint/PA meanwhile, during the come weeks and months you might want to keep a finale eye on the coins you are given by shopkeepers, because there are trial versions of the new £1 out there that could be worth a few dock. To ease the transition, the Royal Mint issued more than 200,000 to major retailers to help them recalibrate coin-handling equipment etc ahead of the establish. The Mint has been quoted as saying that these “ are marked with the word ‘ test ’, do not have legal tender condition and have no redeemable value ”. But that hasn ’ triiodothyronine stopped people from selling them – and in some cases they are making a much as £200 a pop. On Wednesday this week, one went for £141.99 on eBay after attracting 30 bids. This workweek ’ s launch may well have prompted some people to rummage in search of the commemorative coins they were typically given as children, such as the 1977 Queen ’ s Silver Jubilee pennant, or the 1981 crown issued to commemorate Prince Charles and Lady Diana ’ mho marry ( traditionally crowns had a face value of 25p ). many people will have cautiously looked after their coins – often they will distillery be in their master wallet or case – but the bad, though probably not wholly unexpected, newsworthiness is that they won ’ t make you rich – this week both the 1977 and 1981 crowns were selling for 99p or less on eBay. The Royal Mint surely can ’ deoxythymidine monophosphate be accused of holding back when it comes to celebrating the arrival of its fresh “ baby ”. There are lots of commemorative versions on sale on its web site, including a 2017-dated £1 paired with a 1937 threepenny bit ( £20 ), and one strike in sterling silver and “ enhanced with fine gold ” ( £75 ). They are surely nice looking, but whether they are a good investment is a different matter.

Read more: Possum Magic Coins

“ When investing in coins you are looking for scarcity, ” says Peter Waddell, secretary of the Northampton Numismatic Society. “ The trouble with everything that comes out of the Royal Mint is that they produce so much of it, the grocery store is flooded. Collectors looking for returns will be better off focusing on earlier coins. ” Beckford says that with Royal Mint items, “ it depends on their coinage [ the act issued ] – the lower the coinage, the more desirable it is. ”

Most fairs feature the odd box of junk and they can have hidden jewels. There are bargains if you are prepared to look

possibly that helps explain why the platinum version of the new £1 has been snapped up then quickly – it is a limited edition of good 250. Beckford adds : “ We always say, ‘ have a front at what the intrinsic metal measure is ’. ” If you are paying a premium of possibly 75 % -100 % on top, then you ’ ve probably got your exercise mown out in terms of getting a return on your investment. Keith Heddle, managing director of the coin investment sleeve at Stanley Gibbons, says : “ Most mod coins are never going to make money unless they are particularly rare – not a alleged ‘ limit edition ’ – or have been minted by mistake. Some of the most strange historic pieces have risen dramatically in value over late years. ” He points to the 1738 King George II aureate five guineas part as the biggest investment social climber death year : up 50 % to £45,000. The most valuable coin in the ship’s company ’ second index is the 1703 Queen Anne pre-Union amber five guinea fowl mint, which rose by £50,000 to hit £375,000 last year. such coins are sol expensive due to their extreme curio and unique history. The most valuable british coin is the gold “ duplicate leopard ” from the reign of Edward III in 1344. lone three of these are known to exist – two of which are in a museum. The other sold in 2006 for £460,000. Waddell advises collectors to concentrate on hammered coins – those made with an actual hammer – which were typically produced up until the late seventeenth hundred. “ A good get down sharpen for those on meek budgets would be Elizabethan coins. A lot of these turn up through the metal detecting community or as Civil War hoards are uncovered. A 1545 coin can inactive be had for anywhere between £30 and £70. ” Waddell says it is silent potential to find valuable coins at antique fairs, and suggests that anyone who wants to start collection does precisely that – ideally armed with a guide to coin values. “ Most fairs still feature the odd box of trash, and they can have some hidden jewels. A supporter recently found a amber coin in one such box and paid 10p for it. He sold it late for around £110, so there are inactive bargains out there if you are prepare to look. ” One intriguing development is that, despite promoting the coins it sells on its web site as legal affectionate, the Royal Mint has reportedly been writing to banks to tell them not to accept commemorative £20, £50 and £100 coins if, for exemplar, person comes in wanting to redeem one. The Mint says : “ Legal tender has a identical narrow and technical mean in the settlement of debts. It means a debtor can not successfully be sued for non-payment if he pays into court in legal tender. ”

Values … in the round

The phasing-out of the old £1 coins, which will cease being legal tender on 15 October, could throw up some money-making opportunities.

The Royal Mint is encouraging the populace to spend their turn pounds “ arsenic soon as possible ” before that go steady, as they will be melted down to make the new version. But make surely you give them the once-over. “ As the round £1 disappears constantly, collectors are desperate to complete a collection of all 24 designs. And that includes some very quite rare ones still in circulation, ” says the Change Checker web site. It says the Edinburgh £1 dating from 2011 is already achieving £10-£15 on eBay, but with collectors clamouring to complete their collections “ it seems likely that a good-quality model could soon be fetching between £25 and £50 ”. It adds : “ As for the others, they will all be getting rarer by the day as they start to be removed from circulation. ” early round pounds that score highly in the web site ’ south “ scarcity exponent ” are the Cardiff and London ones from 2011 and 2010 respectively, and the scots “ thistle and prairie gentian ” from 2014 .
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Category : Coin collecting

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