Posts Tagged ‘Two Pounds’
Is time up for our 2ps? Production of 2p and £2 coins could be halted for the next 10 years!
In March 2015, the UK treasury confirmed that 1p and 2p coins will continue to be used “for years to come”. However, it has recently been suggested that due to a cash usage slump, The Royal Mint is set to go ten years without producing anymore 2p coins!
But it’s not just our coppers at stake.. The same applies for £2 coins, as it has been revealed that in March 2020, The Royal Mint was sitting on 26 times as many £2 coins as it needed to.
According to the National Audit Office’s report into Britain’s cash usage, the number of coins produced each year by The Royal Mint fell by nearly two-thirds between 2011 and this year.
Less than a quarter of all payments were made by cash last year, according to figures released in June by the banking trade body UK Finance.
It’s fair to assume that even less cash has been used since the start of 2020 due to the coronavirus leading to fears of cash usage and a move to more contactless payments.
However, The Mint told Britain’s spending watchdog that there had been ‘sharp increases in demand’ for change ‘as many businesses and consumers hoarded coins in the early months of the pandemic’.
As a result, the Treasury ordered The Royal Mint to strike 60 million additional 1p coins over the summer to meet this new demand. So make sure you keep your eyes peeled for these new 1p coins, especially if you’re collecting dateruns!
The Royal Mint are required to forecast the demand for small change to ensure it keeps enough coins in stock without striking too few or too many, but with significant fluctuations in consumer behaviour in recent years, this has no doubt been a challenge.
In 2017, after the introduction of the new 12-sided £1, The Royal Mint saw a swell in its coin stocks as people rushed to return their round pounds, ending up returning loose change of other denominations at the same time.
According to the NAO, at the end of March, The Royal Mint aimed to hold 700,000 £2 coins, but actually held 18.7million. And rather than holding its target of 15.9million 2p coins, it held 127.1million.
As a result, in March of this year, The NAO said The Royal Mint had estimated ‘it did not envisage producing any new 2p or £2 coins for at least 10 years’.
We haven’t seen a £2 enter circulation since 2016, so, could this mean that those 2016 dated £2s and 2017 dated 2p coins are the last of their kind? We certainly hope not.
But what about our coppers? Do you think we still need 1p and 2p coins in circulation? Have your say by voting in our poll on Facebook.
And what could the future for Britain’s definitive coinage be if the 1p and 2p coins were removed? Currently the definitive coins from 1p to 50p come together to create The Royal Shield, but with two key pieces missing, could this lead to a complete re-design?
We’d love to hear what you think about the use of cash vs card and the demand for our smaller denominations, so leave us a comment below to share your thoughts.
If you’re interested in coin collecting, our Change Checker web app is completely free to use and allows users to:
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Sign up today at: www.changechecker.org/app
Brand new Agatha Christie £2 celebrates 100 years of mystery!
Agatha Christie’s first novel The Mysterious Affair at Styles was published in 1920 and it kick-started the nation’s love of her detective novels and murder mysteries.
In 2020, to mark 100 years since her first publication, The Royal Mint celebrates the world’s best-selling novelist with this brand new 2020 UK Agatha Christie £2.
2020 UK Agatha Christie £2
David Lawrence’s design of this coin pays homage to Christie’s crime novels, with a piece of a jigsaw slotting into place and her signature at the bottom.
The coin also features the edge inscription ‘100 years of mystery 1920’-2020’ to mark this very special anniversary.
Issued initially as part of the 2020 Commemorative Coin Set, this brand new £2 coin has just been individually released and is available in Brilliant Uncirculated quality for JUST £8.99 (+p&p)
Murder, Mystery, and Masterpieces
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, she is celebrated once more with this brand new £2 coin and she becomes another UK author to be commemorated on UK coinage…
2016 Shakespeare £2 Series
William Shakespeare is the most influential literary figure in British history and his works are an important part of Britain’s cultural heritage.
In 2016, a series of three £2 coins were issued to mark the 400th anniversary since his death and to celebrate his greatest works.
Each coin’s design takes inspiration from some of Shakespeare’s greatest works, including Macbeth (pictured right), A Midsummer Night’s Dream (central) and his most-famous love tragedy (pictured left).
All three coins entered circulation but the Comedy £2 has the lowest circulating mintage – just 4,355,000!
2017 Jane Austen
In 2017, to celebrate the life and works of one of Britain’s best-loved authors, The Royal Mint issued this Jane Austen £2.
Jane Austen is one of the best-loved English novelists from the 19th century. Her novels were revolutionary and from her first novel, Sense and Sensibility, readers began a love affair with her fiction that has lasted two centuries.
Designed by Dominique Evans, a portrait of Jane Austen features on the reverse of this coin. It did not enter general circulation and was issued in collector quality only.
2019 Sherlock Holmes 50p
In 2019, to mark 160 years since the birth of Sir Arthur Conan Doyle, The Royal Mint issued this 50p coin.
The prolific writer is best known for his incredibly popular detective stories featuring the fictional Sherlock Holmes™. It is said his works revolutionised the crime genre, and despite Doyle sharing an ambivalent relationship with his famous character, Holmes’ popularity resulted in Doyle becoming one of the best-paid authors of the time.
The reverse has been designed by Stephen Raw and features a silhouette of Sherlock smoking a pipe, surrounded by a few of his most-famous story titles.
It entered general circulation but the exact mintage figures have not been confirmed yet!
2012 Charles Dickens £2
The Charles Dickens £2 coin was issued by The Royal Mint in 2012 to commemorate the 200th anniversary of one of Britain’s most famous and beloved writers.
His enchanting stories, vivid characters and depiction of Victorian life are widely acknowledged across the world by critics and scholars alike and his novels and short stories continue to be widely popular.
The design features Dickens’ recognisable profile crafted from the titles of his most famous works and is a favourite amongst collectors.
This coin was released into general circulation and has a mintage of 8,190,000.
2018 Mary Shelley’s Frankenstein £2
This £2 coin was issued by The Royal Mint to celebrate the 200th anniversary of the publication of Mary Shelley’s famous novel Frankenstein; or, The Modern Prometheus.
Whilst on holiday in Geneva Mary Shelley and her poet friends, including Lord Byron and future Husband Percy Shelley, decided to have a competition to see who could write the best horror story. Out of this Mary Shelley created Frankenstein, a story about a scientist’s scary act at playing God and creating life. It went on to become one of the best loved gothic novels.
The reverse of this gothic coin was designed by Thomas Doherty and features the words ‘Frankenstein’ in an electric gothic font. It features the edge inscription, Bicentenary of Mary Shelley’s The Modern Prometheus.
It did not enter general circulation.
2016 Beatrix Potter Anniversary 50p
To celebrate the 150th anniversary of the birth of Beatrix Potter, the Royal Mint have released this 50p to celebrate Beatrix herself.
Designed by Emma Noble, the coin includes elements that celebrate Beatrix as the artist behind some of the best-loved characters in children’s literature along with the nostalgic font used for the inscription.
This coin entered general circulation and has a mintage of 6,900,000.
We love seeing Britain’s best-loved authors come to life on our UK coins, but which author coin is your favourite? Comment below!
Secure the 2020 UK Agatha Christie £2 to your collection today!
To secure yours in Brilliant Uncirculated quality for just £8.99 (+p&p) click here >>
* AGATHA CHRISTIE, POIROT and the Agatha Christie Signature are registered trademarks of Agatha Christie Limited in the UK and elsewhere. All rights reserved.
Do you know how rare the Great Fire of London £2 really is?
With 37 different £2 coin designs in circulation, it’s very tough to choose a favourite, but one of mine is certainly the Great Fire of London £2, issued in 2016 to mark the 350th anniversary of one of the most well-known disasters to hit London.
The reverse of the coin, designed by Aaron West, depicts the city of London burning in flames from a distance and makes for an eye catching design which I’m sure many collectors love just as much as I do.
But are you lucky enough to have one of these coins in your collection?
Whilst this coin was previously considered ‘Less Common’ (as rated on our Scarcity Index), it has now been confirmed that the mintage figure for the Great Fire of London £2 was mistakenly listed and the coin is in fact rarer than we once thought…
Mintage Charts
To reflect the change to the Great Fire of London £2 coin’s mintage figure, we’ve updated our mintage charts to show you how rare this coin actually is compared to the other £2’s in circulation.
The Great Fire of London has actually jumped up 15 places on the mintage chart now that the correct figure of 1,625,000 has been confirmed.
The previous figure of 5,135,000 placed the coin in the middle of the pack, just slightly rarer than the Gunpowder Plot £2, however it can now be found amongst the London Underground £2 coins, nearer the top of the mintage chart.
Scarcity Index
These changes are also evident on our latest Scarcity Index update.
Whilst the coin has only moved up the index by 4 coin places, this is the biggest movement on the £2 index and the coin’s Scarcity Index score has actually jumped up from 18 to 34 – almost doubling from the previous index!
Historically, the Great Fire of London £2 has always scored in the mid to high teens, but the updated mintage figures now reflect the fact that the coin is in fact harder than previously believed to find in your change.
Have any other coins been affected?
It wasn’t just the Great Fire of London £2 coin which was affected by the updated mintage figures… There were in fact 4 coins from 2016 with previously incorrect figures.
The changes haven’t made much of an impact to either of these coin’s rankings for the Scarcity Index, with both coins actually moving down 1 place on the index pictured above.
With regards to our mintage figure charts, the two coins have simply swapped positions, as can be seen below.
With regards to 50p coins, the only coin affected was the 2016 Peter Rabbit 50p.
This relatively small increase has had no effect on the coin’s ranking on the Scarcity Index or position on the mintage figure chart, which can be seen below.
Whilst the changes to the mintage figures for the Shakespeare £2s and Peter Rabbit 50p have made minimal impact, it’s fair to say that with almost 4 million less Great Fire of London £2 coins in circulation than previously thought, the scarcity of this coin has definitely increased, making it even more special for those of you lucky enough to have one in your collection.
Add the Great Fire of London circulation £2 to your collection!
Following the updated mintage figures, I’m sure collectors will be keen to make sure this coin is added to their collection.
Click here to secure the coin in circulation quality for £8.00 with FREE p&p