Why the 2016 £1 coin is about to become the latest coin collecting myth

The Royal Mint have confirmed that more than half a billion of the new £1 coins that have been released into circulation will be dated 2016.
But you may have besides seen in the news that if you find one with a 2016 date, it could be one of the handful of ‘uniquely flawed coins’ and may be worth £250.

Unfortunately that isn’t the case.

Coins are typically struck with dies with that year’s date on, and as 1.5 billion new coins were required for the launch of the new 12-sided £1 coin, The Royal Mint started striking them in March 2016. That means that all of the new 12-sided £1 coins that were produced final year will have the 2016 date on them .

Will the 2016 12-sided £1 coins be rare?

In short, no. With half a billion 2016 dated £1 coins in circulation, they should be relatively easy to get hold of. In fact, we are yet to see person who has found a 2017 date £1 in their change.

If we take a front second to the mintage figures in 1983 when the £1 coin was first introduced, in sum 443,053,510 of the Royal Arms £1 coin were struck for circulation that year. That ’ s a little less than the sum of 2016 date £1 coins and about 3 times less than the total amount of of the modern coins struck for launch .
Considering 1983 was a time without contactless payments and when cash was the most secondhand method acting of requital, 443,053,510 seems a relatively small sum in comparison to the 1.5 billion required for the new 12-sided £1 coin plunge .

1997 Maklouf ‘Queen with a Necklace’ £2

You may remember the collecting frenzy that the ‘Queen with a Necklace’ £2 mint caused in 1998 when the brand new bi-metallic coin was introduced into circulation .
The ‘ Queen with a Necklace ’ £2 has an enduring legacy in the collecting world as the very first bi-metallic £2 coins issued just prior to the Queen ’ s portrayal change in 1998. This intend that the older portrayal by Raphael Maklouf was only used for one year: 1997. His version featured Queen Elizabeth II wearing a necklace, which is how the dub was derived .
When the portrayal exchange was announced, the new £2 coins were snapped up by collectors believing them to be a future rarity. As it turned out, a mintage of nearly 14 million means the ‘ Queen with a Necklace ’ £2 is not one of the rarest coins in circulation. Nevertheless, with only one class of issue, it even holds an undeniable interest for collectors.

An undeniable interest for collectors.

And the lapp can be said for the 2016 dated £1 coin. Although the £1 is in no way a curio, foremost class of issue coins are always more sought after in years to come. As the new mint is Britain ’ s beginning 12-sided £1 and it is the first specification change to our £1 coin in more than 3 decades, the new 2016 date £1 should hold a significant place  in any coin collection. 

#foundapound

To celebrate the acquittance of the newfangled 12-sided £1 coin, we’re giving away FIVE ‘Nations of the Crown’ Silver Proof 12-Sided £1 Coins!

For your chance to WIN a Silver Proof £1, all you need to do is find one of the new 12-sided £1 coins in your change…
Post a photograph via Facebook, Twitter or Instagram using the hashtag #foundapound and the placement you found your first £1 coin.

We ’ ll then choose 5 winners at random on the tenth April .
It ’ second truly that comfortable – then good luck and get posting ! #foundapound
Click here for more details .

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