Posts Tagged ‘Rare’
How scarce are your coins? Here’s our latest Scarcity Index update!
The first Change Checker Scarcity Index update of 2018 is here. The 50p and £2 Scarcity Indexes have been compiled using data from the first three months of the year.
We’ve added a new feature to help you track the performance of your coins. The arrows signify how many places, up or down, a coin has moved on the Scarcity Index; any coins with a yellow star are making their first appearance after having been released into circulation.
50p Scarcity Index
Kew Gardens remains the most scarce UK 50p coin which is not surprising with a mintage figure of just 210,000. There are a number of coins which have moved up the index quite significantly, such as Shooting, Pentathlon and Hockey, all part of the 2012 Olympic series. Also, Triathlon moves it into the top 3, replacing Judo.
Sailing and Wheelchair Rugby, part of the same series, have not performed as well and both have move down 5 places.
Jeremy Fisher makes its debut in our Scarcity Index with a score of 14, making it the third scarcest Beatrix Potter coin behind Jemima Puddle-Duck and Tom Kitten.
£2 Scarcity Index
There’s not a huge amount of movement in this quarter’s update and also no new coins have been added. The 2017 WW1 Aviation and Jane Austen £2 coins are yet to enter circulation.
The Commonwealth Games Wales coin retains its spot at the top of the £2 Scarcity Index with Scotland moving up to 2nd. Interestingly Northern Ireland drops down to 4th place due to far less swap demand than the other 3 coins in the 2002 Commonwealth Games series. In fact, in this quarter, the Northern Ireland coin was requested to swap almost 50% less than the Wales, Scotland or England.
There’s a particularly strong performance from the Florence Nightingale and Paddington Station coins, each moving up 7 places.
The First World War Centenary (Army) is the worst performing coin, moving down three places.
What about the A to Z 10p coins?
Unfortunately, at present, there is simply not enough data to accurately compile an A to Z 10p Scarcity Index. However, we have a few early indicators to show which 10p coins may become the most scarce in future.
The three A to Z 10p coins that most people have in their collection are B-Bond, A-Angel of the North and H-Houses of Parliament. As people are struggling to find these coins in their change, the majority of coins in people’s collections would have been ‘Early Strike’ coins that they have purchased. Therefore this would indicate that, at this stage, these three designs are amongst the most desirable.
The three A to Z 10p coins that most people are looking to add to their collection are E-English Breakfast, A-Angel of the North and F-Fish and Chips. Interestingly, A-Angel of the North appears on both lists meaning that, at this very early stage, it’s arguably the most popular A to Z 10p coin.
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 recent 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 160 times face value on eBay.
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.
When will I find an A to Z 10p in my change?
The Royal Mint announced Britain’s new A to Z of Britain 10p coins to the public in March this year and since then they have created quite a stir in the world of coin collecting…
Thousands of collectors flocked to buy them, crashing the Mint’s website and emptying stocks at the Royal Mint Experience.
At the same time Change Checkers have been asking the question “when will I find an A to Z 10p in my change?”
So let’s take a proper look at the situation.
The Royal Mint does not actually control coins going into circulation.
I know this might sound a little hard to believe but The Royal Mint does not actually have any real control over how and when coins go into circulation. This is essentially managed between HM Treasury and the large cash distribution services run by the Post Office and some banks, as well as private operators. Between them they handle, sort and distribute the billions of coins in circulation, even swapping stocks between themselves.
It’s only when they are short of a particular denomination that they call off stocks from The Royal Mint, who act as the manufacturer of the coin on behalf of the Treasury.
In short, The Royal Mint can only push the new 10p coins into circulation as and when there is demand from these cash distribution centres.
Early release of 2.6 million coins
All circulation designs do eventually make their way into circulation and in time into our pockets. However, it has been the case since commemorative 50p coins started to issue more regularly from the 1990s that, for the reasons explained above, it can be some months until cash centres call off new supplies. Indeed, it is not that unusual that the coins do not enter circulation until the following year.
With this in mind, The Royal Mint worked closely with the cash handling industry to introduce a small quantity of 10ps into circulation which were issued through the Post Office network.
Don’t forget that 2.6 million coins is an initial early release – it is not the total quantity of coins that will ever circulate at face value. The expectation is that more 10p coins will enter circulation when required by the cash centres.
In addition, The Royal Mint also has plans for limited releases of coins at face value in appropriate locations across the UK during the rest of the year. Don’t worry – we’ll keep you up to date with all the news.
Additional 2.6 coins released
In October 2018, The Royal Mint and HM Treasury confirmed that a further 2.6 million A-Z 10p coins would enter circulation and this time the coins would be distributed through more normal networks including banks and cash distribution centres.
This will be welcome news to collectors who have been struggling to lay their hands on the new 10ps since the initial release in March. We’re hopeful that additional volumes will continue to be struck in line with UK requirements and of course the massive collector demand.
So how can I collect my 10p coins for face value?
Well first off, it’s fair to say you’ll probably need a degree of patience. Don’t forget commemorative coins do not normally enter circulation particularly quickly and there’s no doubt that the first tranche of coins have been snapped up extra fast by keen collectors (and possibly even some Post Office staff).
Royal Mint estimates from 2016 suggest that there are 1.7 billion 10p coins in circulation. The expected annual demand for 10p coins is approximately 60 million per annum.
It’s also clear that the demand for coins amongst the cash centres is currently relatively low. It’s believed that many people cashed in additional denominations at the same time as their old £1 coins, helping to increase stocks, as well as the increased use of cashless payments having an impact.
So, it’s practically impossible to say how many 10p coins will enter circulation this year. However, whilst we almost certainly won’t see distribution in the hundreds of millions, Change Checkers should remain hopeful of more opportunities to collect the A to Z of Britain 10p coins straight from their change throughout this year and maybe even into next.
Conclusion
Yes, finding an A to Z 10p in your change is a pretty tough ask at the moment but the situation will improve over time.
Will they be rare? Certainly their level of popularity with collectors has been unprecedented and so it seems likely they’ll always be a tough coin to find and, at 10p each, I’ll definitely be putting any I find aside!
Get ahead of the crowd by owning the complete A-Z ‘Early Strike’ 10p Set TODAY!
Influential women who have featured on UK coins
The 8th March, is International Women’s Day. To celebrate, we take a close look at just some of the incredible women who have been commemorated on our UK coins!
Her Majesty The Queen (1926 – Present)
It’s really a no brainer that we’re going to start with Her Majesty the Queen as her portrait features on all of our current UK coinage and has featured on no less than 15 commemorative £5 coins and crowns!
Her Majesty Queen Elizabeth II is our longest reigning monarch, the fifth longest reigning monarch worldwide, and our first ruling monarch to have reached her 95th birthday year!
There have been some incredible coins celebrating Her Majesty, including the recently issued 2021 UK 95th Birthday £5, the 2018 65th Coronation Anniversary £5, and even the 1977 Silver Jubilee 25p Crown.
Queen Elizabeth II is arguably the most loved and respected monarch our country has even seen so it’s only right on the day we honour the achievements of women throughout history, that we dedicate a portion to Her Majesty.
Diana, Princess of Wales
Diana Frances Spencer married the Prince of Wales in July 1981. Constantly the subject of media frenzy, Diana tragically died in a car crash in Paris in 1997 whilst trying to escape paparazzi. The world was stunned at her tragic death and it triggered grief all around the world.
Diana left a legacy of bravery, courage, and kindness. She played a significant role in banning landmines, setting up and supporting a range of charity operations, and being an active role model for both her children and members of society.
In 1999, to commemorative Lady Diana’s life, The Royal Mint issued this £5 featuring her profile on the reverse.
Beatrix Potter (1866 – 1943)
Beatrix Potter truly was a woman ahead of her time. Not only was she an accomplished children’s author and illustrator, she was a passionate and knowledgeable farmer and conservationist – long before it became popular.
However, it’s fair to say her enchanting tales of countryside characters, including Peter Rabbit and Mrs. Tiggywinkle, skyrocketed her to stardom. And in 2016, Beatrix Potter’s life was commemorated on a brand new series of 50p coins.
We’ve since seen 15 coins celebrating the famous author, including the very latest 2020 Peter Rabbit 50p which was confirmed as the very last UK 50p featuring the cheeky character.
Rosalind Franklin (1920 – 1958)
English chemist, Rosalind Franklin, sits right at the very heart of the story of DNA.
Her ground-breaking research and inspiring work ethic were central to the discovery of the helical structure of DNA, which was later publicised by Watson and Crick.
Tragically, at the age of just 27, Franklin passed away from ovarian cancer, robbing her of the same awards and recognitions that her colleagues were gifted.
But in 2020, to celebrate what would have been her 100th birthday, she also became the second scientist to be celebrated in The Royal Mint’s Innovation in Science series.
The reverse design of this coin, by David Knapton, features a depiction of her famous Photograph 51, which enabled her to discover the structure of DNA in her laboratory in Cambridge.
Florence Nightingale (1820 – 1910)
Named after the Italian city in which she was born in 1820, Florence Nightingale is famous for her work in the military hospitals during the Crimean War where she tended to wounded soldiers.
In 1860 she laid the foundation of professional nursing with the establishment of her nursing school at St. Thomas’ Hospital in London. Her book ‘Notes on Nursing’ proved to be influential in changing the way hospitals were run and the role of nurses within them.
Released in 2010 to commemorate 150 years of nursing, the reverse design of this £2 coin, by Gordon Summers, features the image of a nurse taking the pulse of a patient.
Agatha Christie (1890 – 1976)
After the end of the First World War, Christie published her first novel The Mysterious Affair at Styles. This incredibly popular story introduced readers to one of Christie’s most famous characters – Belgian detective Hercule Poirot.
Writing well into her later years, Christie wrote more than 70 detective novels as well as short fiction. Her books have been made into films, television, and radio programmes. In 1971, she was made a Dame of the British Empire for her outstanding contribution to literature.
In 2020, to mark 100 years since her first publication, The Royal Mint celebrated the world’s best-selling novelist with a new £2 coin.
David Lawrence’s design of this coin pays homage to Christie’s crime novels, with a piece of jigsaw slotting into place and her signature at the bottom.
There really have been some incredible women celebrated on our UK coins and this is just a small selection!
Is there an influential women you’d like to see on our coins in the future? Let us know in the comments below!
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