Numismatics

Essay coins: British hunt rare variants of the new pound coin

In the UK, the coin collecting fever has broken out: After the introduction of a new one-pound coin in circulation on March 28, 2017, many British wanted to hold afreshly minted copy of the tamper-proof coin with twelve corners in their hands. And after a few days a numismatic sensation was discovered: Among the 1.5 billion pound coins that were produced by the Royal Mint in the last months of 2017, single copies with the year “2016” were found.

On request, the Royal Mint informed that about half a million coins were minted last year. And since in the UK – unlike in many countries, such as Germany – the date on the coin always has to be the year of manufacture, the Royal Mint has been some pound coins with the year 2016 in circulation. For the production of pound coins already started  in the British mint in Welsh Llantrisant end of last year.

So who’s lucky to pick “new” to pound with the year 2016 out of circulation, should  be too enthusiastic – the collector’s value is around five euros each. Much more exciting for collectors might be diverse error coins that have become known in recent weeks. The Royal Mint has announced in a statement that it has more than 200,000 “Test coins” distributed to industry partners. On these coins the word “trial” can be read. Although this is no legal tender, the sample coins are in great demand and are offered for up to 250 pounds apiece – many collectors in the UK remember the two-pound test coins from 1994, which are now counted among the rarest collectibles for coin enthusiasts.

A veritable gold-rush mood has broken out in the United Kingdom – also because of the “old” pound coins that will be withdrawn from circulation this fall. Many collectors use the last chance to pick missing motifs from circulation until 15 October 2017. So, for example, the pound coinin honor of the city of Edinburgh from 2011 currently trades at 10 to 15 pounds each.

About the author

Sebastian Wieschowski