Posts Tagged ‘Kew Gardens’
So you think you know the Kew Gardens 50p?
The rarest 50p in circulation, the 2009 Kew Gardens 50p, is at the top of many collectors’ wish lists, but how well do you actually know this elusive coin?
Extremely low circulating mintage
Most collectors will know that what makes the Kew Gardens 50p so sought-after is its incredibly low mintage figure of just 210,000! That’s nearly 7 times less than the next rarest circulating 50p – the 2018 Peter Rabbit 50p.
With 1.5 billions 50ps in circulation since 1997, that means Kew Gardens 50ps make up just 0.013% of all circulating 50ps!
A question we were asked recently is ‘Why were so few Kew Gardens 50ps put out into circulation?‘
The answer is simple – demand for the 50p denomination was not high at the time when the Kew Gardens 50p was released into circulation. But why…
Banks, cash centres and the Treasury forecasted demand for coin denominations and had put their order in with The Royal Mint for 2009 coins. The Royal Mint started minting the Kew Gardens 50ps, but as the forecast was reduced, minting had to be stopped after just 210,000 had been produced. So the 210,000 2009 Kew Gardens 50ps we have in circulation today were originally just the start of a much bigger order.
Another factor which could have contributed to the forecast being reduced is the huge amount of 50ps which went into circulation the year before – a whopping 26,247,000!
How to spot a fake
Unfortunately, this level of attention and popularity can cause problems, and some unlucky collectors fell pray to buying fake Kew Gardens 50ps on the secondary market.
Luckily, there are some easy ways to identify an authentic Kew Gardens 50p, here’s what to look out for which could indicate a fake:
- Frosted finish on the pagoda and years
- High relief design
- An extra pointy roof on the pagoda
- The Queen’s neckline alignment
- Larger designer initials
- More rounded features on Queen Elizabeth II’s portrait
- Lighter than a standard 50p (8 grams)
Design difference
It’s often thought that two extra lines either side of the word ‘Kew’ at the bottom of the design is another sign of a fake Kew Gardens 50p, and whilst this can indicate a dodgy copy, these lines do actually appear on the Brilliant Uncirculated and Proof versions of the coin.
Image credit: The Royal Mint
This is likely due to the level of detail achieved by striking proof and brilliant uncirculated coins making the lines more visible than on the circulating version.
The Kew Gardens 50p was re-issued in 2019 as part of the 50th Anniversary of the 50p celebrations, however this version was not intended for circulation and therefore also features the extra lines.
Did you know, coins intended for circulation are struck just once at a rate of up to 750 per minute, whereas Brilliant Uncirculated coins are struck twice with a greater force using hand polished dies at a rate of up to 300 per minute, giving much more definition. Proof coins go the extra step and are struck several times at a rate of between 50 and 100 per hour.
Potential Errors
Minting errors and mis-strikes can make coins more sought after by collectors and even add value. A few eagle eyed collectors have reported finding interesting variations on their Kew Gardens 50ps which could be a result of an error or mis-strike at the time of minting.
Extra ‘leaf’
One collector took to an online coin forum to share their Kew Gardens 50p which had what looked like an additional leaf at the bottom right of the pagoda. After some speculation, it was suggested that the extra ‘leaf’ may have been caused by die wear or maybe a die chip during striking.
Image Credit: MrV via coincommunity.com
‘Struck thru’
A strike-through, or ‘struck thru’ error is caused by another object coming between a blank and a die at the time of striking. The outline of the object – usually staples, metal shavings, cloth fibres or hairs – is pressed into the blank’s surface.
A handful of collectors reported finding strike-through errors on the obverse of their Kew Gardens 50p, one across the Queen’s cheek, the other at the top left of the obverse. Both of these have been authenticated by the Numismatic Guaranty Company as genuine errors.
Image Credit: JackCoins1975 via eBay
Credit: Mr Jibble on YouTube
Do you have a Kew Gardens 50p?
Are you one of the lucky 210,000 people to own a 2009 Kew Gardens 50p? Or perhaps you got your hands on a 2019 re-issue? Let us know in the comments!
It’s time for Tea! Your Scarcity Index Update…
It’s time for your latest Scarcity Index update, where we’ll reveal the UK’s most sought-after circulation coins of the last three months! And it’s all change again for the A-Z 10ps, as Tea establishes itself in top spot…
With less cash being used because of the current climate, it’s likely this is affecting collecting and it seems this has exposed some new trends on the indexes!
You can use the updated A-Z 10p, 50p and £2 indexes below to discover how sought-after the coins in your collection really are.
This information has been compiled using data from the Change Checker Swap Centre and presented in the easy to use indexes below, with arrows to signify how many places up or down a coin has moved since the last Scarcity Index.
A-Z 10p Scarcity Index
Well we’ve seen another big mix up for the latest A-Z 10p Scarcity Index update, with a new leader taking top spot!
In our last Scarcity Index, we saw B for Bond knocked off the top spot by the NHS 10p, but now we’ve seen both of these coins move further down the pack, by 11 and 4 points respectively. The Tea 10p takes the top spot for the first time and Bond now sits at the lowest we’ve seen since our A-Z 10p Scarcity Index started!
Other key movers to keep an eye on are the Y for Yeoman Warders and G for Greenwich Meantime 10ps, both moving up the index by 8 places.
Regardless of where they feature on the above index, if you have any of the A-Z 10ps in your collection you should consider yourself lucky, as they are particularly hard to come by in circulation and each design has a relatively low mintage (just 220,000 of each design released in 2018 and 2.1 million overall in 2019).
50p Scarcity Index
We can’t quite believe it, but it looks as though the Olympic Football 50p has been knocked off second place by the Judo 50p this quarter! However, it’s not done enough to take the top spot, as it sits 18 points behind the scarcest 50p coin in circulation, the Kew Gardens. But, are you lucky enough to have the Judo 50p in your collection? Let us know in the comments below.
There’s been quite a lot of shuffling around with the Olympic 50ps, with Table Tennis moving up the index by 16 places! Although, it’s definitely worth noting that all of the Olympic 50ps are particularly sought-after due to their low mintage figures and an estimated 75% have been removed from circulation by collectors, making them even harder to get hold of.
Since our last Scarcity Index update, we’ve seen the 2018 Peter Rabbit climb 2 places but the 2018 Flopsy Bunny 50p has dropped down by 4 places. As the two rarest Beatrix Potter 50ps in circulation, it’s interesting to see them move in opposite directions on the index, so we’ll be keeping our eye on these over the next quarter…
£2 Scarcity Index
The top five coins on the £2 index remain strong, with the Commonwealth Games Northern Ireland keeping its position at the top, now 20 points above the second most sought-after £2 coin in circulation.
There’s been a slight reshuffling on the top half of the index, with the Commonwealth Games England and Scotland, switching positions from the last index! We’ve also seen the King James Bible £2 jump up 4 places, bringing it 6th position.
In the bottom half of the index, there’s been some big shakers! The Shakespeare Histories £2 has dropped a huge 13 points, pushing into the penultimate spot, and Florence Nightingale has also dropped by 6 points!
We’re yet to see any new £2 coins in our change since demand has been so low, although I’m sure I speak for many collectors when I say we eagerly anticipate the release of new £2’s into circulation, hopefully in the near future.
How your Scarcity Index works
Generally collectors have had to rely upon mintage figures to identify the scarcest coins. But they only tell part of the story. Trying to find a good quality coin from 15 – 20 years ago, even for a higher mintage issue, is much more challenging than a more recent issue, as coins become damaged over time and are ultimately removed from circulation.
Additionally, some designs are more hoarded than others by people who might not normally collect coins – the poignant First World War £2 Coin series being an example. Finally, it can be up to a couple of years before the Royal Mint eventually confirms the actual mintage for an issue.
That’s why we have combined the mintage information with two other key pieces of information.
- How many of each design are listed as “collected” by Change Checkers, indicating the relative ease of finding a particular coin.
- The number of times a design has been requested as a swap over the previous 3 months, showing the current level of collector demand.
Importantly, as new coins are released and popularity rises and falls across different designs the Scarcity Index will be updated quarterly allowing Change Checkers to track the relative performance of the UK’s circulation coins.
How much are my coins worth?
The Scarcity Index does not necessarily equate to value but it is certainly an effective indicator. For example, the Kew Gardens 50p coin commands a premium of up to 200 times face value on eBay.
You can use the 6 point guide to help you determine a more realistic value for your coins.
What about £1 Coins?
The £1 Scarcity Index has already been published for the Round £1 coins and, because they are no longer being issued, this is now set in stone.
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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
Where are all the coins? US Covid-Driven Coin Shortage!
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