Posts Tagged ‘Round pounds’
The Limited Edition Gibraltar King Charles III Definitive Coins
Following the passing of Queen Elizabeth II in 2022, the very first King Charles III effigy was introduced onto Gibraltar’s commemorative coinage. However, the following year, the first circulating Gibraltar currency collection featuring His Majesty’s was issued, celebrating his coronation.
The 2023 Limited Edition Gibraltar Currency Coin Collection was the first full currency set available to feature the Raphael Maklouf King Charles III effigy on the obverse, including all denominations from 1p-£5, but it also included the last ever single metal round pound to be issued.
A closer look
In honour of the new Carolean era, the 2023 Limited Edition Gibraltar Currency Coin Collection includes all definitive coin denominations, each featuring different elements, imagery and items related to King Charles III and his coronation.
One Penny
The 1p coin features the King’s royal cypher within a floral wreath.
Two Pence
The 2p coin features a depiction of Windsor Castle within a floral wreath.
Five Pence
The reverse design on the 5p coin shows an illustration of The Sovereign’s Orb.
Ten Pence
On the reverse design on the 10p coin is a depiction of The Sovereign’s Sceptre.
Twenty Pence
The 20p features the a depiction of the Tudor Crown along with the inscription ‘LONG TO REIGN OVER US • GOD SAVE THE KING’.
Fifty Pence
The intricate design on the 50p features the door to Westminster Abbey and the inscription ‘THE CORONATION OF HIS MAJESTY KING CHARLES III • 05.05.2023’.
One Pound
The £1 coin in this collection was the last ever single metal, round pound coin to be issued, as Gibraltar’s 2024 annual issue featured the new 12-sided, bi-metal £1 coin specification. This meant that Gibraltar was the first British Overseas Territory to circulate the 12-sided £1. The reverse design on this round £1 coin features the Coronation Chair and the inscription, ‘LONG TO REIGN OVER US • GOD SAVE THE KING’.
Two Pounds
The £2 coin features the Gibraltar Crest in the centre, with an inscription around the edge reading ‘HIS MAJESTY KING CHARLES III • GOD SAVE THE KING’.
Five Pounds
The £5 coin features the Gibraltar Coat of Arms.
Own a piece of the collection
The 2023 Limited Edition Gibraltar Currency Coin Collection is strictly limited to 2,000 sets worldwide, meaning that some collectors are sure to be disappointed when demand inevitably outweighs supply.
For those not able to secure the whole collection, you still have the chance to own the 2023 Gibraltar Coronation 50p and the Last Gibraltar Round Pound.
Add the 2023 Gibraltar Coronation 50p to your collection >>
Secure the Last Gibraltar Round Pound >>
New £1 coin design to enter circulation!
A brand new £1 coin is set to enter circulation, marking the 40th anniversary of it’s introduction!
Chancellor Rishi Sunak has announced that artist Michael Armitage will design the new coin.
It’s believed the coin’s design will celebrate the culture, creativity, and heritage and history of the UK in the 21st century.
Speaking at a Royal College of Art’s (RCA) reception, Mr Sunak said: “I am delighted that Michael will lend his vision to the creation of this new £1 coin design in its 40th anniversary year. This coin will symbolise the rich tapestry of modern Britain and honour our deep heritage and history.”
Michael Armitage was earlier this year elected as a Royal Academician in the category of painting by the Royal Academy of Arts, London – meaning we’re sure to see a fantastic design on this brand new coin!
This will be the the first new £1 design since 2017 and Armitage said it will “combine our 1,100 years of craftsmanship with cutting-edge design to champion modern Britain.”
The 12-sided £1 coin has been in circulation since its introduction in 2016, having replaced the familiar round pound coins. It’s aim was to be the most secure coin yet.
This brand new design will become the standard circulating £1 coin* and will include the current “world-leading” high-security features to protect against counterfeiting, the Treasury said.
We can’t wait to see the design of this brand new coin and to start searching for it in our change! Let us know in the comments below if you’re excited to find this new coin!
*The new coin will enter circulation in 2023, marking the 40th anniversary of the modern £1 coin.
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£19bn in old UK banknotes and coins not cashed in!
£18.9bn worth of paper banknotes and round pounds remain in circulation, with over 113 million of these being £5 notes! Despite it being nearly five years since the paper £5 note lost its legal tender status*, it seems people are holding on them.
In fact, you might just have one in your pocket/wallet/down the back of the sofa right now!
Whilst the paper £10 and £5 notes have been withdrawn from circulation, the £20 and £50 paper banknotes will hold their legal tender status until 30 September 2022.
According to the Bank of England, 775 million paper banknotes remain in circulation:
- Paper £5 notes in circulation: 113 million
- Paper £10 notes in circulation: 73 million
- Paper £20 notes in circulation: 360 million
- Paper £50 notes in circulation: 209 million
That’s a lot of banknotes!
*Whilst the paper £5 and £20 notes are no longer legal tender, they will always be exchanged by the Bank of England for their face value.
There are also supposedly £105m of old round pound coins in circulation, according to the Royal Mint.
After more than 30 years in the nation’s pockets, the familiar round £1 coin was replaced with an all new, 12-sided £1 coin in 2017, in a bid to crack down on counterfeiting.
It lost its legal tender status at midnight on 15 October 2017 and the Royal Mint asked the public to return their round pounds as they phased in the new 12-sided coin.
However, out of 1.6 billion round pounds to be returned, about 1.45 million were counterfeits!
The UK’s 12-sided £1 coin is described by the Royal Mint as the ‘most secure in the world’, with a string of anti-counterfeiting details. Find out more about the security details of this coin here!
Round pounds can still be deposited at high street banks – but can no longer be spent in shops.
Have you held on to your round pounds or paper notes? Let us know in the comments below!
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