The United States are facing a nationwide coin shortage in the midst of the coronavirus pandemic – urging members of the public to use cash where possible to help ease the coin crisis.
As more people turn to online shopping and contactless payments and avoid using physical money due to the virus, the normal flow of currency has been severely interrupted.
Last year, third-party coin processors and retailers accounted for around 83% of coins in the US coin supply chain.
However, as many stores have been closed and with the US Mint briefly slowing production to implement safety measures, further interruptions to this supply chain have been caused.
The effects mean that as stores are reopening, retailers are quickly exhausting their cash inventories, with some now advising customers they may not be able to provide change in coins.
Solving the US coin supply problem
The US Mint is now asking people to return any coins they might have lying around and to use exact cash for purchases to help replenish the country’s supply.
The Fed have even convened a US Coin Task Force, working to restore the vital coin supply chain.
And what’s more, one particular bank has even started paying members of the public to return any spare change.
UK Coin Shortage?
With the UK public being urged to use contactless where possible during the pandemic, could we too being facing a similar issue soon?
In recent years demand for cash in the UK has dropped, not simply because card payments have increased, but also due to the introduction of the 12-sided £1 coin in 2017.
As members of the public were tasked with returning their old round pound coins to the bank, other denominations, loose change and unwanted coins were also returned, meaning a surplus of cash was injected into the system.
We’ve certainly felt the effects of this with the lack of new coins entering circulation in the last few years.
Secondary Market Coin Prices
We recently updated the Change Checker eBay Tracker, revealing the average selling prices for the top 10 UK coins and banknotes.
Amazingly, there’s been an 18% increase in the overall value of these issues – the biggest increase we’ve seen since the Tracker began!
With less cash being used in the past few months, it’s likely collectors are heading to the secondary market to get hold of certain coins, rather than waiting to find them in their change.
Additionally, with more time being spent at home and people seeking new hobbies to keep themselves entertained, new collectors are perhaps becoming more aware of rare and collectable coins that might be worth owning and as a result, are heading to the secondary market to get hold of one.
We’ve seen this increased demand on the secondary market driving up the prices, particularly for the more rare and sought-after coins.
Now, as more retailers open up shop in the UK and the country starts to head towards the ‘new normal’, will we start to see more cash exchanging hands once again? And will collectors be able to start hunting down coins in their change once more?
Perhaps one of the biggest questions on collector’s lips will be whether we’ll see an increase in demand, leading to new commemorative coins being released into circulation…
At Change Checker HQ we’ve certainly got our fingers crossed!
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 second coin in The Royal Mint’s Music Legends £5 series has just been released, and this £5 is sure to make you feel the love…
For the first time ever, Elton John features on a brand new UK £5 coin!
I’m Still Standing
Demonstrating a remarkable musical talent at a very young age, Elton John’s underlying musicality and passion for rock ‘n’ roll drove him to breakthrough. From playing in pubs to becoming a global sensation, Elton is a superstar who has been delighting fans for more than half a century!
Since his very first self-titled album in 1970, Elton John has sold in excess of 300 million records worldwide.
Some of his chart-topping hits include, ‘Can You Feel The Love Tonight?’, ‘Don’t Go Breaking My Heart’, ‘Candle in the Wind’, and ‘I’m Still Standing’.
He also found success on Broadway, composing for Billy Elliot (2008), which went on to win 10 Tony Awards.
As recognition of his contribution to music, Sir Elton John was knighted in 1998.
2020 UK Elton John £5
To celebrate this true music legend, a brand new Elton John £5 has just been released by The Royal Mint.
The reverse design of this £5 coin, by Bradley Morgan Johnson represents Elton John’s I’m Still Standing era. Speaking of the design, Johnson said, “I’m Still Standing was one of [his] favourite childhood pop tracks” and you can definitely see the influence this song has on the design of this coin.
My favourite feature of this coin design, is that Sir Elton John himself approved it. By owning this coin, you really are in possession of some huge music legend memorabilia.
2020 Queen £5 Coin
The very first £5 coin in the Music Legends series was released earlier this year, celebrating one of Britain’s most iconic and influential bands ever, Queen.
Formed in London, 1970, Queen instantly rocked the nation and became a British icon, creating unique and timeless songs which are still loved to this day.
As of 2005, Queen’s albums have spent the equivalent of 26 years in the UK Album Charts! (According to the Guinness Book of World Records).
The design of this £5 coin by Chris Facey, showcases the iconic instruments of all four founder members of the band: Brian May’s Red Special guitar, John Deacon’s Fender Precision Bass™, Roger Taylor’s Ludwig™ bass drum, and Freddy Mercury’s Bechstein™ grand piano.
Band members Brian May and Roger Taylor have officially approved the design of this coin and alongside the fact that this coin is full of numismatic firsts, this coin has already proved incredibly popular with collectors:
- The first-time ever Queen have featured on a coin worldwide
- The first-time ever a British band has been celebrated on UK coinage
- The first coin to be issued in the new series celebrating British Music Legends.
If you would like to add the 2020 UK Queen £5 in Brilliant Uncirculated quality, then click here!
I’m sure you’re just as excited as we are by this brand new £5 coin and the continuation of the Music Legends £5 Series. Who do you think will appear on the next coin in the series? Let us know in the comments!
Secure the brand new Elton John £5 today!
As you would expect with a coin this exciting, your brand new UK £5 has been struck to superior Brilliant Uncirculated quality and protectively encapsulated in official Change Checker packaging to preserve its quality forever.
I’m sure we could all use a bit of escapism right now, and so I invite you to join us on a trip far away as we return to Neverland for one last time…
Last year, the collecting world experienced the magic of the world’s first Peter Pan 50ps, issued by the Isle of Man and developed in partnership with Great Ormond Street Hospital Children’s Charity.
The unprecedented demand for these coins saw tens of thousands queuing to get their hands on the stunning new issues. And in just a matter of months, through the sales of these Peter Pan 50ps, collectors raised over £250,000 for Great Ormond Street Hospital.
Today I have some very exciting news to share with you, as the SECOND (and final) collection of British Isles Peter Pan 50ps have just been released!
LAST EVER Peter Pan 50p
The FINAL Peter Pan 50p has been issued by The Isle of Man, continuing the 90th anniversary celebrations of author JM Barrie gifting his rights in the story to Great Ormond Street Hospital.
This brand new coin features an enchanting illustration of Peter Pan and Tinkerbell on the reverse design, created by David Wyatt and Matt Tindall.
Available in Brilliant Uncirculated quality, this coin comes encapsulated in official Peter Pan packaging.
Or, for those collectors looking for a touch more magic, this coin is also available in stunning .925 Sterling Silver Proof quality, featuring coloured illustrations.
Six BRAND NEW Coins
Excitingly, 5 more Peter Pan 50p coins have also been created this year and are available alongside the Peter Pan and Tinkerbell coin in this fantastic six coin set.
This year’s characters include:
- Peter Pan and Tinker Bell
- The Mermaid
- The Jolly Roger
- Peter Pan at the window
- Tinker Bell
But which is your favourite? Let us know in the comments below!
These 50ps are only available as a set and if you don’t want to miss the chance to own them, you’ll need to act fast, as they have been issued with some incredibly low edition limits…
Strictly Limited Edition
These brand new 50ps are sure to sweep you off your feet, however what’s most exciting about the coins is that there are some very low edition limits for the Silver Proof versions…
Silver 50p coins are, without doubt, the collector’s favourite and a sell-out is inevitable. Especially when you consider the edition limit for the single coin is just half of last year’s edition at 4,995 and the complete set is strictly limited to just 1,995 worldwide! So that’s the same quantity as last year’s edition limit which completely SOLD OUT.
In fact, even Silver Proof 50ps with much higher mintage figures often still result in sell-out stories.
For example, the UK Gruffalo 50p released in 2019 had a mintage of 25,000 and sold out at The Royal Mint in just a few hours after its release!
And so I wouldn’t be surprised to see demand for these brand new Silver Proof Peter Pan 50ps exceed the amount available.
Gold Proof Peter Pan 50p
For the creme-de-la-creme, and by far the most limited way to own this coin, a .916 Gold Proof version of the Peter Pan and Tinker Bell 50p has been issued.
This official new release has been given a strict edition limit of JUST 500 worldwide, MUCH LOWER than previous Gold Proof 50p sell-outs.
Just a handful of lucky collectors will have the chance to own this prestigious new Gold Proof coin.
Can I find the Peter Pan 50ps in my change?
If you’re living on the Isle of Man, then yes!
25,000 of each coin will be entering circulation on the Isle of Man, but when you compare that to the mintage figures for UK coins (our rarest 50p in circulation has a mintage of 210,000) you’ll realise just how few of these coins are actually out there.
Coins issued on the Isle of Man typically have lower mintage figures due to the smaller population of just 84,000 which means that their coins are particularly sought-after amongst collectors.
And, based on the popularity of last year’s coins, I’m sure that British Isles collectors will be super quick to snap these ones up!
Peter Pan remains one of the most cherished and loved children’s stories of all time and if last year’s coins are anything to go by, I’m sure these new 50ps are going to be some of the most sought-after coins of the year.
As with last year’s coins, each has been developed in partnership with Great Ormond Street Hospital Children’s Charity (GOSH Charity). For every coin or set sold a donation will go directly to GOSH Charity to help support the hospital and the seriously ill children from across the UK who are cared for there.
Secure your 2020 Peter Pan 50p coins today!
To discover the magic of these brand new 50ps and add the brand new Peter Pan 50ps to your collection, click here to see the full range.