World coins
The Isle of Man’s big move to phase out little coins
The Isle of Man have shared some big news about their copper coinage, and it’s causing quite a stir in the collecting community. They have confirmed that the phasing out of 1p and 2p coins will begin this year, meaning the days might be numbered for copper coins.
Why the change?
Following a consultation in 2023 by the Manx government about whether it should keep copper coins, residents responded with “no thanks”. With a population of only 84,000, many young people on the island said they don’t carry cash at all, and most rely entirely on cards or contactless payments. The pandemic also forced islanders to adapt to card payments.
Credit: Kamran.nef, CC BY-SA 4.0, via Wikimedia Commons
Rising costs of minting new coins, especially coppers, means that making a new 1p coin now costs more than a 1p coin is worth. It’s not just the coppers either, as its estimated that a new 5p coin costs around 20p to make.
Taking these factors into consideration, the Isle of Man has encouraged businesses to introduce ‘cash rounding’ as the first phase.
What is cash rounding?
Cash rounding is the practice of rounding prices to the nearest five or zero, eliminating the need for 1p and 2p coins.
Cash rounding has been used in Sweden since the 1970s and was also adopted by Canada, New Zealand and the Republic of Ireland.
Credit: Zannaoriordan, CC BY-SA 4.0, via Wikimedia Commons
Credit: Jennifer McNairMuseums Victoria, via Wikimedia Commons
Copper coins will remain legal tender on the island, and won’t be withdrawn from circulation, but no more will be minted.
Let’s hear from the Isle of Man
After the cash rounding initiative was announced, there were concerns from the public about inflation. However, businesses were quick to claim that, based on research from other countries, this would not be a problem.
The Isle of Man’s treasury minister, Dr Alex Allinson MHK, said: “Most businesses here didn’t think it would cause significant inflation. But certainly the public perception is that it would do.”
He also stated that: “If the UK were to get rid of coppers, we would probably follow suit”.
No new coppers have been minted by the Isle of Man since 2016 due to decreased demand, and even the most recent decimal coin set, the 2023 Manx Wildlife Set, didn’t feature 1p or 2p denominations – so the phasing out process has been inevitable for a while.
What about the UK?
The number of cash payments in the UK has reduced significantly in the last 10 years, and especially so since the pandemic.
According to The Royal Mint, no new 2p coins were minted in 2022 and no new pennies were minted in either 2018 or 2019. This is an indication of decreasing demand for small change, even in the UK, so it’s not surprising that the Isle of Man, with a much smaller population, would be one of the first places to implement the phasing out of coppers.
Find out more about the future of 1p and 2p coins in the UK >>
A Treasury spokesperson confirmed that there are currently no plans to change the denominational mix of coins in the UK. So if the Isle of Man is waiting to follow our lead on getting rid of coppers, it’s unlikely that any definitive changes will happen anytime soon.
What do you think about copper coins? Do you still use the 1ps and 2ps in your change? Let us know in the comments!
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
2023 Christmas Coins from around the World!
I don’t know about you, but I am well and truly feeling the Christmas spirit, and now that my Change Checker Advent calendar is counting down to the big day, my excitement is at an all-time high!
But what’s got me even more excited is to see how Santa’s little elves have been busily working away this year to release the most wonderfully festive coins in time for Christmas.
From all across the world we’ve seen renowned Mints issue beautiful Christmas coins that would take pride of place in any collection and I for one would certainly treasure forever (here’s hoping there’s one for me under the tree this year!).
I’ve put together a list of some of my favourite 2023 Christmas coins from around the world that I’d like to share with you, starting of course with the brand new UK Snowman 50p!
UK The Snowman™ 50p
This new release marks the 6th time that The Snowman™ has appeared on our UK coinage!
The very first UK Snowman™ 50p was released in 2018. Since then we’ve been treated to a wonderful new release each year, and you know what, it just doesn’t feel like Christmas until we see the new Snowman™ 50p!
But, what makes this year’s release extra special is that for the first time ever, the obverse features King Charles III’s portrait.
What’s more, the reverse design shows the Snowman™ and James dancing below the Northern Lights – transporting us to the snowy scene straight out of the storybook.
Isle of Man Nativity £2
This traditionally festive £2 coin design from the Isle of Man has been inspired from a Nativity scene depicted on a stained-glass window in Church Kirk Christ, Rushen.
The Isle of Man is well known for their Christmas coins, however last year no such coins were released. But, this year the festivities resumed, as a brand new Christmas £2 coin was released – featuring King Charles III on the obverse for the very first time.
Fittingly, this £2 has been inscribed with the festive greeting ‘Merry Christmas’ in both English and Manx, making for a must-have addition to any Isle of Man coin collection.
Canada Christmas Sledding Lenticular Coin
The Royal Canadian Mint is renowned for its impressive minting technology and this new release reaffirms their excellent craftmanship.
Using lenticular technology, the design of this 50 cent coin changes when titled to create a heartwarming festive scene featuring a polar bear and bunny sledding across the snow.
You’ll notice that unlike the first two coins on our list, this release features Her Majesty Queen Elizabeth II on the obverse and that’s because this coin was issued before the Mint revealed their new King Charles III effigy.
Jersey Father Christmas Coloured 50p
Adding a pop of colour to our British Isles Christmas coins is this delightful new 50p release from Jersey.
The obverse design by Glynn Davies is the same King Charles III effigy as seen on the Isle of Man release above, however the reverse design by David Young really sets it apart from the rest!
Santa can be seen in full colour, with a sack of goodies slung across his shoulder – the perfect Christmas scene which is sure to delight both little kids and big kids alike!
Australia Disney 1oz Silver Proof Coin
From The Perth Mint in Australia comes this adorable Mickey and Minnie themed Disney 1oz Silver Proof coin.
Not only was this released in Disney themed packaging, but it was also presented as a hangable Christmas ornament – perfect for collectors down under to hang on their trees!
Just 2,023 of these coins were made available and it’s currently out of stock at the mint – but you can totally see why, as it’s such a fun festive design!
Which of these Christmas coins is your favourite and will you be adding any of them to your wish list this year? Let us know in the comments below!
Own your 2023 UK The Snowman™ 50p
Canada’s King Charles III Coin Effigy Revealed!
More than a year after His Majesty King Charles III was officially proclaimed Head of State and Sovereign of Canada, The Royal Canadian Mint have announced the release of their official King Charles III coin effigy.
Credit: Royal Canadian Mint
The news was shared on the 14th November – making for a wonderful birthday treat for His Majesty, who celebrated his 75th birthday that day.
SELL OUT Canada King Charles III 50 cent Coin Roll
The brand new Canadian effigy of His Majesty features on the 50 cent coin, which has been issued in a highly sought-after special collector’s edition Wrap Roll.
Each of the Wrap Rolls include 25 brand new 2023 dated Canada 50 cent coins, which feature a design of the Canadian Coat of Arms on the reverse and – for the first time in seventy years – a new monarch’s portrait on the obverse.
A Special Presentation
The coins are packaged in special, themed illustrated paper wrapping, featuring the official Royal Canadian Mint logo and a stylised band of Fleur-de-lis – a traditional Royal symbol of Canada.
You might not have heard of coin rolls before, but they’re a big deal across the pond, and a highly collectable way to own Canadian coins. Previously, Canadian coin rolls have proved incredibly popular with UK collectors, and we’ve even seen sell outs of our initial allocations of these rolls in the past.
A Canadian Collecting Frenzy
These Canadian 50 cent Coin Rolls are part of the first wave of Canadian coinage that features the new obverse of King Charles III, so it’s currently the only way to secure them for your collection. There were also only 25,000 rolls available worldwide – making them highly sought-after by collectors. So sought-after in fact, that they SOLD OUT at The Royal Canadian Mint within just four days!
We’ve been lucky enough to secure just 500 Canada 50 cent Wrap Rolls for UK collectors, and once they’re gone, they’re gone! So don’t miss out – add these coins to your collection now for just £29.99 (+£3.99 postage) >>
A Major Change for Canadian Coinage
During her incredible 70 year reign, there have been four different obverse portraits of Queen Elizabeth II used on Canadian coinage. The latest portrait change was in 2003 when Susanna Blunt’s effigy of Her Late Majesty made its way onto Canadian coins.
Considering that the obverse of Canadian coinage hasn’t changed in over 20 years, and the fact that we haven’t seen a King on Canadian coins in 7 decades, the introduction of King Charles III’s effigy is sure to cause a stir in the coin collecting world.
The Process of Creating an Effigy
As you might imagine, there are a lot of steps behind the scenes that go into creating a new effigy…
Canada’s new coin effigy was created from Steven Rosati’s winning design, following an invitation to more than 350 artists and engravers.
The process involved each artist/engraver submitting a portfolio of portrait work to be evaluated. These were then shortlisted before a brief outlining mandatory design requirements was given out.
An internal Mint review panel judged submissions based on aesthetics, technical requirements and mass-production suitability before the winning design was submitted for approval from the government and Buckingham Palace.
Once the design was ready, the Mint could begin the engraving and tooling process – producing dies to strike the coins.
Only 500 available for Change Checkers
Click here to secure your Canada King Charles III 50 cent Coin Roll >>