It’s just over a month since The Royal Mint announced Britain’s new A to Z of Britain 10p coins to the public.
Thousands of collectors flocked to buy them, crashing the Mint’s website and emptying stocks at the Royal Mint Experience.
At the same time Change Checkers have been asking the question “when will I find an A to Z 10p in my change?”
So let’s take a proper look at the situation.
The Royal Mint does not actually control coins going into circulation.
I know this might sound a little hard to believe but The Royal Mint does not actually have any real control over how and when coins go into circulation. This is essentially managed between HM Treasury and the large cash distribution services run by the Post Office and some banks, as well as private operators. Between them they handle, sort and distribute the billions of coins in circulation, even swapping stocks between themselves.
It’s only when they are short of a particular denomination that they call off stocks from The Royal Mint, who act as the manufacturer of the coin on behalf of the Treasury.
In short, The Royal Mint can only push the new 10p coins into circulation as and when there is demand from these cash distribution centres.
Early release of 2.6 million coins
All circulation designs do eventually make their way into circulation and in time into our pockets. However, it has been the case since commemorative 50p coins started to issue more regularly from the 1990s that, for the reasons explained above, it can be some months until cash centres call off new supplies. Indeed, it is not that unusual that the coins do not enter circulation until the following year.
With this in mind, The Royal Mint worked closely with the cash handling industry to introduce a small quantity of 10ps into circulation which were issued through the Post Office network.
Don’t forget that 2.6 million coins is an initial early release – it is not the total quantity of coins that will ever circulate at face value. The expectation is that more 10p coins will enter circulation when required by the cash centres.
In addition, The Royal Mint also has plans for limited releases of coins at face value in appropriate locations across the UK during the rest of the year. Don’t worry – we’ll keep you up to date with all the news.
Plus don’t forget, you’ll be able to swap one of your old 10p’s for a new A-Z 10p coin in the Change Checker Live Lucky Dip. The first one is on Saturday 21st April at Highcross Shopping Centre, Leicester.
So how can I collect my 10p coins for face value?
Well first off, it’s fair to say you’ll probably need a degree of patience. Don’t forget commemorative coins do not normally enter circulation particularly quickly and there’s no doubt that the first tranche of coins have been snapped up extra fast by keen collectors (and possibly even some Post Office staff).
Royal Mint estimates from 2016 suggest that there are 1.7 billion 10p coins in circulation. The expected annual demand for 10p coins is approximately 60 million per annum.
It’s also clear that the demand for coins amongst the cash centres is currently relatively low. It’s believed that many people cashed in additional denominations at the same time as their old £1 coins, helping to increase stocks, as well as the increased use of cashless payments having an impact.
So, it’s practically impossible to say how many 10p coins will enter circulation this year. However, whilst we almost certainly won’t see distribution in the hundreds of millions, Change Checkers should remain hopeful of more opportunities to collect the A to Z of Britain 10p coins straight from their change throughout this year and maybe even into next.
Yes, finding an A to Z 10p in your change is a pretty tough ask at the moment but the situation will improve over time.
Will they be rare? Certainly their level of popularity with collectors has been unprecedented and so it seems likely they’ll always be a tough coin to find and, at 10p each, I’ll definitely be putting any I find aside!
We’re hosting our third Change Checker Live Coin Swap on Saturday 21st April at Highcross Shopping Centre in Leicester from 9am – 6pm.
Excitingly, this event will be a little different from our previous two.
Join us in Leicester where you’ll be able to swap ANY 10p coin for the chance to have a go on our ‘lucky dip’ of A-Z 10p coins. We’ll have plenty of all 26 coin designs with us so you’re in with a chance of picking any coin, from A-Z!
PLUS you’ll receive a voucher for 50% off the Collector’s Pack, so you’ll have space to add the rest of the coins when you find them.
Highcross Shopping Centre
Highcross is one of the premier shopping centres in Leicester with all the amenities for a great day out.
We’ll be located at Site 1 in the East Square, opposite Debenhams, ToysRus and Game.
For those travelling by car, there are two onsite car parks with 3,000 combined spaces.
If travelling by train, Highcross is a 10 minute walk from the Station and a park and ride service operates between 7am and 7pm.
The full address is: Highcross Leicester, 5 Shires Lane, Leicester, LE1 4AN.
Can I swap more than one coin?
Such is the popularity of our Live Coin Swaps and to ensure that it is fair for everybody, we’ll be limiting the number of swaps to strictly 1 coin per person.
Can I choose which A-Z of Great Britain 10p I swap?
It’s a lucky dip, so the coin you pick will be the coin you take away with you. Due to how popular we expect the event to be, I’m afraid we will be unable to offer specific A-Z 10p coin designs.
Will you be doing any more Live Coin Swaps?
That’s the plan!
We will be holding more Live Coin Swaps in the future and the plan is to visit a different area of the country each time, giving as many people as possible the opportunity to attend.
Can I bring other coins in my collection for you to take a look at?
You are very welcome to bring along other coins in your collection and if there is time we’d be happy to take a look at them for you. We expect the event to be very busy so we apologise in advance if you have a short wait.
We look forward to seeing you there!
26 new UK commemorative 10p coins are being released into circulation…TODAY!
We get excited when 1 new coin is announced, so imagine the scenes at Change Checker HQ when The Royal Mint announced that they would be releasing 26 (yes 26!!) brand new commemorative 10p coins!
The coins will each feature a different letter from A-Z and each letter will celebrate a different Great British icon.
Will we find the A-Z 10p coins in our change?
The circulating coins will be distributed through The Post Office network from the first week of March. They will be distributing the coins through normal transactions so you’ll be able to find these coins in your change throughout the month. It is unlikely that most Post Offices will be willing to simply swap a 10p coin.
The Royal Mint will also release additional coins in relevant locations across the UK throughout 2018.
How many coins are being made?
Initially, more than 2.6 million circulating 10p coins have been struck across the 26 designs and more coins will continue to be struck throughout the year to meet the demand from The Post Office, banks and cash centres.
How scarce are the A-Z 10p coins?
We expect these coins to be very collectible. Take a look at past history and you’ll see that over 75% of the 2012 Olympic 50p coins have now been taken out of circulation.
With more coins to be released, and some letters likely to be more popular than others, it’s impossible to determine an accurate scarcity for these coins at the moment.
We will release the first A-Z of Great Britain 10p Scarcity Index early April when we have collected vital information from our web app and Swap Centre.
Scarcity Index updates will continue to be released throughout the year to ensure you have access to the most accurate scarcity ratings for your 10p coins.
Who designed the A-Z 10p coins?
The coin designs were created by a whole team of people, including Royal Mint designers. Each design had to be approved by Her Majesty The Queen.
Can I collect and swap these coins online?
Yes. You can find, collect and swap your coins online with the free Change Checker web app: www.changechecker.org/10pApp.
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