Posts Tagged ‘Coin News’
Spot the difference! Variations in the 12 sided £1 explained.
A common query we’ve been hearing at Change Checker HQ comes from people asking about variations in their 12 sided £1 coins.
Having read David Groom’s fascinating articles in the April and May issues of Coin News, we’ve found the key facts which explain these variations, what to look for and why they might have occurred.
We know that of the 1.5 billion 12 sided £1 coins struck to replace the old round pound, roughly half a billion are dated 2016.
Of course, having such a high mintage figure must lead to varieties in design and quality of striking, however in the Coin News examination of just 40 randomly selected 12 sided £1 coins, an extraordinary number of varieties appeared…
Edges
Perhaps the most talked about variation with the 12 sided £1 is the milling on the edge of the coin, with ‘lefties’ being a common error in the milling process.
Variations showing milling to the right. Credit: Coin News
Variations showing milling to the left. Credit: Coin News
Obverses
Groom’s article suggested four clear variations can be found on the obverse of the coin, including position of the design and text.
Variations in the gap of the ‘T’ relative to the edge of the inner ring. Credit: Coin News
Variations in the position of the truncation relative to the edge of the inner ring. Credit: Coin News
Variations in the tip of the diadem relative to the edge of the inner ring. Credit: Coin News
Variations in the gap of the ‘D’ relative to the inner ring. Credit: Coin News
Reverses
Groom also highlighted the four clear features of difference for the reverses of the new £1 coins.
Variations in the gap of the ‘D’ relative to the inner ring. Credit: Coin News
Variations in the gap of the ‘DP’ relative to the inner ring. Credit: Coin News
Variations in the position of the leek relative to the edge of the inner ring. Credit: Coin News
Variations in how the rose is intersected. Credit: Coin News
Misalignment
One of the most common variations seems to be misalignment of the coins, particularly where the outer and inner sections do not align properly.
Variations in alignment. Credit: Coin News
Dates
We have spoken before in our blog about the dual-dated £1 coins, with one such coin being valued at £3,000.
Groom also mentions that many examples of the 2016 pound coin have the date numbers very poorly struck, making the date hard to read.
The date on some 2016 £1 coins have been poorly struck. Credit: Coin News
Royal Mint trial coins
Trial coins are issued when new coin specifications are being tested, but they should not enter circulation.
These feature the words ‘The Royal Mint’ and ‘Trial Piece’.
Credit: eBay: Rare £1 coin – new 12-sided trial coins sold for £500
Whilst there are clearly a number of variations to be found in the 12 sided £1 coins, Coin News suggests that these may arise from off centre striking, or be due to the different characteristics from the two metals of the bimetallic coin.
Auction sites such as eBay may have sellers claiming these as ‘error’ coins, with listed prices rising to hundreds or even thousands of pounds, but for us Change Checkers, finding these variations in our coins is what makes collecting that much more interesting.
Many of you have been in touch telling us about the difference in your 2016 and 2017 12 sided £1 coins. Have you spotted any of the above variations in your coins?
– Credit ‘Up close, the new 12 sided £1 coin’ – David Groom, Coin News, April and May 2018
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
Straight from darkest Peru and into your pocket, the nation’s favourite bear is finally on sale!
Earlier this year, we announced the exciting news that the UK’s incredibly popular Beatrix Potter 50p coins are to be followed up by two new Paddington™ 50 pence coins.
It’s now with great anticipation that we can reveal the first Paddington coin has been officially released!
Celebrating the very British bear
The coins have been issued to celebrate the 60th anniversary of Paddington’s first adventure and this first design is based on the modern adaptation from the CGI-live action movie, featuring Paddington on his suitcase in front of the station and excitingly, one more Paddington 50p coin will also be released by The Royal Mint later this year and this coin will feature the bear waving a Union Flag outside Buckingham Palace.
Of course fans of the movie Paddington 2, will also remember a 50p coin playing an important part in his adventure.
Not the first Paddington coin…
Whilst this is not the first time Paddington has appeared on a coin, it is his first time appearing on official UK coinage.
The nation’s loveable bear has previously featured on 1 crown (25p) coins from both Isle of Man and Gibraltar – now listed for as much £30 on eBay.
Due to the popularity of these coins, and the whole new generation of collectors created by the Beatrix Potter 50ps, it is expected that these coins will be extremely sought-after by collectors and Paddington fans alike.
These coins will be available in Brilliant Uncirculated collector’s edition, with coloured Silver and even Gold versions also being made available.
Paddington at the Station 50p, now available to own!
You can now own the FIRST EVER UK 2018 Paddington 50p Coin in superior collector quality.
Time for change? What is the future for 1p and 2p coins?
*** UPDATE 03.05.19 ***
This week, the UK Treasury confirmed that 1p and 2p coins will continue to be used “for years to come”.
A year after Chancellor Philip Hammond declared these lower denomination coins ‘obsolete’, their safety has now been secured.
There was much discussion regarding the future of 1p and 2p coins following the Treasury’s doubts over the validity of these coins, as well as the £50 note in the 2018 Spring Statement.
Now that the result of the review has been announced, what do you think about the decision and do you think the pennies should be dropped?
Following the 2018 Spring Statement, a spokesman for Theresa May said that there are no current plans to abolish the coins, however with the increased move towards digital payments, questions still remain as to whether it makes economic sense to continue producing these less frequently used coins and notes.
The Treasury consultation document revealed that The Royal Mint is currently issuing more than 500m 1p and 2p coins each year in order to replace those falling out of circulation.
In fact, six in ten UK 1p and 2p coins are only used once before being saved in a jar or thrown away!
Countries such as Canada, Australia, Brazil and Sweden have already scrapped lower denomination coins that are not in demand and it seems that the UK is also beginning to question the future of these coins as demand continues to fall. But how would you feel about removing 1p and 2p coins from circulation?
Only 15% of consumer spending in 2015 was accounted for by cash, with more and more people now turning to contactless and other digital payments – a trend which is forecast to become the most popular payment method in 2018.
On the other hand, the Treasury also suggested that cash is not obsolete. It’s estimated that 2.7 million people in the UK rely on cash and “It continues to play an important part in the lives of many people and businesses in the UK, whether as a budgeting tool or as a cheap and convenient method of payment”.
With regards to the £50 note, the Treasury says, “There is also a perception among some that £50 notes are used for money laundering, hidden economy activity, and tax evasion”. Despite rarely being used for “routine purchases”, there is still a demand for the £50 note overseas, alongside euros and dollars.
In our 2016 blog post, we asked Change Checkers if they thought it was time to scrap the penny and 53% of you believed we shouldn’t, as it is part of the British culture.
Has your view now changed and do you think we should make a move towards digital rather than cash payments?
Have your say by voting in our poll on Facebook:
Chris Boyce said, “We have had pennies since 785 AD. I believe it’s one of the oldest coins still being used today. English heritage is being lost everyday.. don’t let us loose the penny, 1233 years of history”.
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