Posts Tagged ‘Rare’
The story of the undated 20p
It’s regarded by many as the Holy Grail of change collecting, and back in 2008, the undated 20p saga encouraged an entire country to start carefully checking their coins. In fact plenty of collectors are still doing just that in the hope of finding one.
Online sellers have set prices sky high, with one seller asking for an astonishing £10m for the the coin! However, although these chancers are unlikely to see their coin actually selling for that price, some people have been willing to pay in the thousands for the chance to own one of these rare coins.
The story of the coin
If you’re not familiar with the story of the undated 20p, this is it:
In 2008, the reverse of each denomination from 1p to £1 was redesigned by Matthew Dent to feature a different part of the Royal Arms Shield. The 20p had previously included the date on the reverse, but with the entire face of the coin now devoted to the new design, the Royal Mint produced a new die with the date on the obverse (Queen’s head) side.
However, when the new Royal Shield 20p coins were struck for circulation, the old die was accidentally used, meaning a batch was issued with no date on either side of the coin.
Coins with mismatched sides like these are known in the collecting world as ‘mules’ – the name deriving from the hybrid offspring of a horse and a donkey. Mule coins are always highly coveted, but they rarely receive the kind of mainstream media attention afforded to the undated 20p.
The undated 20p was the first coin issued for circulation in over 300 years without a date on either side
The first for 300 years
The undated 20p became the first coin in over 300 years to enter circulation without a date, and when the story broke in the press, it caused a frenzy not just in the collecting world but amongst the general public who realised they stood just as good a chance as anyone of pulling one out of their change.
Estimates have varied over the years but The Royal Mint confirmed in a statement that no more than 250,000 coins made it into circulation.
Various stories in the media helped to fuel wild estimates of the value of an undated 20p
Stories from numerous media outlets fuelled rumours about the coin’s value. Experts suggest that the faulty 20ps could be worth £50 each, however sellers on eBay listed the coins for thousands, with one lucky seller fetching a colossal £7,100 (35,500 times face value).
Of course, a coin with such a high mintage could never really be worth that sort of figure, and in recent years the average selling price for an undated 20p has levelled off. Nowadays they normally sell for around the £50 mark which I’m sure you’ll agree is still not a bad return for a 20p coin!
In terms of rarity, you are approximately twice as likely to find an undated 20p as you are the famous Kew Gardens 50p. However, ordinarily an undated 20p will sell for more. But why?
The reason quite simply is that everyone loves a good story.
The fact that the coin only exists by way of a freak accident really adds to its appeal, and makes it a collector’s item in every sense of the term. So remember to have a good look at your 20p next time you’ve got one in your hand. A flip of your coin could be worth a lot more than you thought.
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
The Royal Mint Coin Packs which look destined to become rarities
As every collector knows, an error can add significant value to a coin. You only need to look at the undated 20p saga to realise just how much impact a simple human mistake can have. Those 20p coins with a mismatching obverse and reverse still frequently sell for as much as £50.
But sometimes it also pays to look further than the coin itself for such slip-ups.
Brilliant Uncirculated presentation packs, or BU Packs, are issued annually by the Royal Mint and are a collector’s item in their own right. They contain a full set of uncirculated coins for the year, along with illustrated packaging and more information about each coin.
These packs are equally prone to human errors, and this year has already been an eventful one in that respect.
In fact neither of the £5 coins in the 2015 BU Packs have edge inscriptions
2015 Annual Coin Set
If you were among the first collectors to secure a 2015 UK Coin Pack from the Royal Mint, the likelihood is you’ve been sent one with a printed error.
The specification in these original packs states an edge inscription for both the Battle of Waterloo and the Churchill commemorative £5 coins, but in fact both of these base metal coins have milled edges with no inscription. Once the Royal Mint were made aware of the error, the packaging was promptly changed to remove the text, but of course a significant number of packs had already slipped the net.
The New Portrait BU Pack
A watermark was overlooked in this image of the Queen and Prince Philip
The latest presentation pack was issued recently to mark Jody Clark’s new effigy of the Queen, with all coins featuring his new portrait.
Again, if you were quick to snap up one of these packs you may have noticed a couple of mistakes which were overlooked in production.
The first is an errant photographic library watermark which somehow found its way onto the final packaging, and appears in an image of the Queen and Prince Philip.
Ian Rank-Broadley is mistakenly named as the obverse designer
The second and more surprising mistake to look out for is the specification on the reverse stating Ian Rank-Broadley FRBS rather than Jody Clark as the obverse designer of the new coins.
At the time of writing, we understand the Royal Mint has withdrawn the pack from sale and are awaiting a re-print.
For now, it is impossible to say precisely how rare these packs are, and it is unlikely that the Royal Mint will ever disclose the exact number.
It’s normal to feel short-changed if you’ve bought any item which has a defect. However, if you have recently added one of these error packs to your collection, you have actually secured something which is quite special to collectors, and may turn out to be highly prized in years to come.
£516,000 Gold Sovereign breaks auction record for a Royal Mint coin
It’s every Change Checker’s dream to find a significant coin which is worth a fortune. And they don’t come any more significant than the Edward VIII Sovereign which has just smashed an auction record and netted £516,000.
Only a single example of the Gold Proof Edward VIII sovereign has ever been available to collectors
The incredibly rare 1937 dated gold ‘proof’ coin is the only single example available to collectors anywhere in the world. It was struck ahead of the King’s Coronation, however following the scandal which predicated Edward’s abdication from the throne in 1936, the coins became redundant and cemented their place in collecting folklore.
His left-facing portrait; the same as his predecessor George V, also represents a unique deviation from a tradition which started in the 17th century under Charles II who wished to be facing the opposite way to Oliver Cromwell.
“In the world of coins, it’s the coin’s story that makes it important and this coin has the most fantastic story” said winning bidder Mr Jordan Lott of Regal Rare Coins in Chester.
After a tense battle in the Baldwin’s auction room and some fierce bidding, the coin eventually reached a winning bid of £430,000 and with fees included this took the total price to £516,000.
It was money which Mr Lott was happy to pay; “I was the first to bid and I was determined to be the last. I would have paid another £50,000 to make sure I got it.”
The price is the highest ever recorded for a sovereign coin struck by the Royal Mint in the UK and possibly the best example of the numismatic significance of British coins in the collecting world.