Posts Tagged ‘Circulation’
5 Million Coronation 50ps Entering Circulation!
The Coronation countdown has begun, as The Royal Mint reveal an incredible range of new UK coins to celebrate the event.
The star of the show is undeniably the 50p coin – the UK’s FIRST Coronation 50p.
But, what’s really got Change Checkers talking is the exciting news that this coin is set to enter circulation this year!
5 million coins will be released later in 2023 and you can bet that collectors will be on the hunt to track this one down in their change.
Commemorating a once-in-a-lifetime royal event, the likes of which we haven’t seen for 70 years, this coin is set to be one of the most significant issues in our collections.
UK’s FIRST Coronation 50p
The last time the UK celebrated a Coronation The Royal Mint issued a Crown coin.
As you can imagine, 70 years on, the 1953 Queen Elizabeth II Coronation Crown remains incredibly sought-after and you can bet that the King Charles III Coronation 50p will likewise see increased demand in years to come.
Spot the Difference!
Eagle eyed collectors out there will notice that the Coronation 50p entering circulation is in fact different to the collector version available to purchase on the 24th April…
That’s because a special obverse has been created on the collector edition coins – only seen on this Coronation range!
The collector version of the coin features a crowned portrait of the King.
Wearing the Tudor crown (as shown on His Majesty’s royal cypher), this breaks from the tradition of male monarchs appearing uncrowned on our coinage and sets the coins apart from the standard King Charles coins where he is shown without a crown.
Charles in your Change
These aren’t the first King Charles coins collectors can find in their change.
In fact, almost 5 million 50ps were released into circulation last year bearing the King’s effigy on the obverse.
Change Checkers have been on the hunt to track down this coin and kickstart their King Charles III collection.
Now, with the news of the Coronation 50p set to enter circulation, we can look forward to expanding our collections with this significant new issue.
But, with just 5 million set to be released, only 7% of the UK population will be lucky enough to get their hands on one from their change…
To get ahead of the crowd and own one in superior collector quality, including the special obverse design, sign up below to receive all the latest updates as soon as the coin is available to order:
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New £1 coin design to enter circulation!
A brand new £1 coin is set to enter circulation, marking the 40th anniversary of it’s introduction!
Chancellor Rishi Sunak has announced that artist Michael Armitage will design the new coin.
It’s believed the coin’s design will celebrate the culture, creativity, and heritage and history of the UK in the 21st century.
Speaking at a Royal College of Art’s (RCA) reception, Mr Sunak said: “I am delighted that Michael will lend his vision to the creation of this new £1 coin design in its 40th anniversary year. This coin will symbolise the rich tapestry of modern Britain and honour our deep heritage and history.”
Michael Armitage was earlier this year elected as a Royal Academician in the category of painting by the Royal Academy of Arts, London – meaning we’re sure to see a fantastic design on this brand new coin!
This will be the the first new £1 design since 2017 and Armitage said it will “combine our 1,100 years of craftsmanship with cutting-edge design to champion modern Britain.”
The 12-sided £1 coin has been in circulation since its introduction in 2016, having replaced the familiar round pound coins. It’s aim was to be the most secure coin yet.
This brand new design will become the standard circulating £1 coin* and will include the current “world-leading” high-security features to protect against counterfeiting, the Treasury said.
We can’t wait to see the design of this brand new coin and to start searching for it in our change! Let us know in the comments below if you’re excited to find this new coin!
*The new coin will enter circulation in 2023, marking the 40th anniversary of the modern £1 coin.
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£19bn in old UK banknotes and coins not cashed in!
£18.9bn worth of paper banknotes and round pounds remain in circulation, with over 113 million of these being £5 notes! Despite it being nearly five years since the paper £5 note lost its legal tender status*, it seems people are holding on them.
In fact, you might just have one in your pocket/wallet/down the back of the sofa right now!
Whilst the paper £10 and £5 notes have been withdrawn from circulation, the £20 and £50 paper banknotes will hold their legal tender status until 30 September 2022.
According to the Bank of England, 775 million paper banknotes remain in circulation:
- Paper £5 notes in circulation: 113 million
- Paper £10 notes in circulation: 73 million
- Paper £20 notes in circulation: 360 million
- Paper £50 notes in circulation: 209 million
That’s a lot of banknotes!
*Whilst the paper £5 and £20 notes are no longer legal tender, they will always be exchanged by the Bank of England for their face value.
There are also supposedly £105m of old round pound coins in circulation, according to the Royal Mint.
After more than 30 years in the nation’s pockets, the familiar round £1 coin was replaced with an all new, 12-sided £1 coin in 2017, in a bid to crack down on counterfeiting.
It lost its legal tender status at midnight on 15 October 2017 and the Royal Mint asked the public to return their round pounds as they phased in the new 12-sided coin.
However, out of 1.6 billion round pounds to be returned, about 1.45 million were counterfeits!
The UK’s 12-sided £1 coin is described by the Royal Mint as the ‘most secure in the world’, with a string of anti-counterfeiting details. Find out more about the security details of this coin here!
Round pounds can still be deposited at high street banks – but can no longer be spent in shops.
Have you held on to your round pounds or paper notes? Let us know in the comments below!
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