Posts Tagged ‘Rare’
50p “Scarcity Index” Launched – discover which UK 50p coins are the most collectable
Can’t wait – click here to reveal the UK’s “scarcest” 50p coin
Change Checker has launched the 50p “Scarcity Index”, which tracks which circulating 50p coins are the most scarce and collectable.
The index uses a unique combination of mintage, collecting and swap data to give the most up-to-date picture of today’s 50p coin collecting market.
The top 5
There’s no surprise to find Kew Gardens at the top of the list. With a mintage of just 210,000, it is also the least owned and most requested swap. The next 4 scarcest coins are all from the 2012 Olympics – Football, Triathlon, Judo and Wrestling.
The recent Beatrix Potter 50p coins also rank highly, with Jemima Puddle-Duck and Squirrel Nutkin coming in at numbers 6 and 7 – based largely on their low level of ownership and high swap requests, as official mintages are yet to be confirmed by the Royal Mint.
Click here to see the full list
How the 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 Beatrix Potter issues being a classic 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. Whilst Kew Gardens 50p coins command prices on eBay of between £70 and £100, other coins towards the top of the scarcity index typically achieve a premium of roughly 10 – 12 times face value.
But don’t forget the joy of Change Collecting is that you have always have a chance of finding any one of these coins in your change – even Kew Gardens – you just have to be sharp-eyed.
What about £1 and £2 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. Change Checker will be releasing the £2 Scarcity Index later in April.
Update: The latest news on the Bank of England’s Polymer Banknotes
The Polymer banknotes are still catching the headlines this week after a £5 note was found with a mysterious secret message.
Two different people, who thought they had found the rare Jane Austen £5 note worth more than £20,000, have come forward so far.
The message on the banknote stated ‘Look for serial number AL22171910’ instead of a classic quote from Pride and Prejudice, Emma or Mansfield Park.
The message on the banknote states ‘Look for serial number AL22171910’
However, artist Graham Short’s gallery have denied the stunt is anything to do with them.
Four special £5 notes, engraved with a tiny portrait of author Jane Austen, were put into circulation by Mr Graham Short late last year and could fetch more than £20,000 at auction.
So could it be another Willy Wonka style golden ticket hunt?
Both findings have sparked theories of a copycat engraver offering clues to find other valuable notes – but it could just be someone creating a bit of mischief.
Just one fiver worth more than £20K left to find…
There is still one engraved fiver in circulation left to find by specialist micro-engraver Graham Short. Mr Short came up with the idea of engraving a 5mm portrait of Pride and Prejudice author Jane Austen on the transparent part of the new plastic £5 notes, to mark the 200th anniversary of one of the best-loved English novelists this year.
Just one fiver worth more than £20K left to find…
The first of four notes featuring art by specialist micro-engraver Graham Short was found in a cafe in South Wales on 5th December while another was found the same month inside a Christmas card in Scotland. The third £5 note was found by a mystery old lady in Eniskillen in Northern Ireland who has donated it to charity.
So that means there is just one more rare £5 note left to find with the handiwork of Birmingham micro-artist Graham Short. It was spent somewhere in England back in December so for those hunting down the last remaining fiver, the serial number to look out for is AM 32 885554.
In other news… the Bank of England considers the use of Palm Oil
The Bank of England have been considering the use of palm oil as a replacement to animal fat in their polymer banknotes after complaints from vegans and religious groups.
The news that the polymer fiver contained animal fat sparked an online petition last year, calling for the Bank of England to stop using tallow in the production of the notes, which has since attracted more than 136,000 signatures.
However, in February, the Bank of England confirmed that it would stick with animal fat despite the concerns. In a statement, the Bank of England said “it would be appropriate to keep the £5 polymer note in circulation and to issue the £10 polymer note as planned, in September.”
Palm oil is a type of edible vegetable oil that is derived from the palm fruit. However, switching from the animal fat derivative may prove difficult and is likely to spark protests from environmentalists unless the palm oil can be sustainably sourced.
The Bank of England is now undertaking a consultation to seek the views of the public on options for the future composition of polymer notes, namely the next £20 note and future reprints of the £5 and £10.
Who will feature on the new £20 polymer banknote?
The new £20 polymer banknote is due to enter circulation in 2020 and will feature J.M.W. Turner. Click here to find out more about the £20 note.
The £20 note will be the third banknote made from Polymer, following on from the £5 note featuring Winston Churchill and the £10 note featuring Jane Austen. The £50 note will remain in circulation with the same design and there are currently no plans for them to be issued in polymer.
The £1 Scarcity Index reveals which £1 coins are the rarest
Can’t wait – click here to reveal the UK’s “scarcest” £1 coin
With the Great One Pound Coin Race nearing the finishing line, collectors across the UK are desperate to complete their Round Pound collections.
Historically, change collectors have relied upon mintage figures for their indication as to which coins in circulation are the rarest. But the story is not that simple.
650 million coins lost from circulation
The £1 coin has been in circulation since 1983. During that time a total of 2.2 billion £1 have been struck for circulation. But they are not all still in use.
There are 1.5 billion coins in circulation but probably fewer than 800,000 of the rarest design
The last available figures for coins in circulation, published by The Royal Mint for 2014, suggest that 1,553,000,000 £1 coins are in circulation.
In other words, 650 million of the coins struck no longer circulate, presumably withdrawn over the years as worn or damaged.
The majority of those 650 million coins are from the early issuing years, meaning that although some of those years may have high mintages, the actual number of coins available to collect from your change is far lower. In fact our research suggests that only a little more than half of the early years’ £1 coins are still in circulation. Far fewer if you’re trying to secure one in good collectable condition.
Scarcity breeds scarcity
But even that is only part of the story. Of course, scarcity breads scarcity.
Even before the launch of the Great One Pound Coin Race, we noticed a rise in collector interest for £1 coins on the back of the introduction of the new 12-sided £1 coin. And the demand is always disproportionately high for the more difficult coins. The result is a continued ratcheting up in demand for the rarer coins.
The Change Checker £1 Scarcity Index
That’s why Change Checker launched the £1 Scarcity Index. Rather just relying on mintage figures, we have combined them with the two critical points above – the actual numbers of coins in circulation and real collector demand, measured by Change Checker swap data – to create a unique Scarcity Index for the £1 Coin.
Scaled from 100 to 1, the scores represent the relative scarcity of each coin, with 100 being the most scarce.
So will I ever find the Edinburgh City £1 Coin in my change?
With a scarcity rating of 100, the Edinburgh City £1 Coin is the rarest Round £1 in circulation
With the Edinburgh City £1 Coin topping the Scarcity Index, will you ever actually find one in your change?
Well certainly it won’t be easy – but it’s definitely possible. Our calculations suggest there are probably somewhere between 600,000 – 800,000 Edinburgh City coins still in circulation but as we near the withdrawal date this number is decreasing rapidly. In other words, it is of similar rarity to the recently issued 2015 First World War Navy £2 but far less scarce than the rarest current circulation coin – Kew Gardens 50p, which had a mintage of just 210,000.
On average, it means that you will have to examine roughly 3,000 mixed £1 coins to find the Edinburgh City £1 Coin. But with over 6,000 Change Collectors already listing the Edinburgh City £1 Coin in their collection, it is certainly an achievable goal.