2017 Quarter 3 Change Checker “Scarcity Index” Released
Following the launch of the Change Checker “Scarcity Index” earlier this year the Quarter 3 Index has now been published.
50p Scarcity Index
It’s of little surprise that Kew Gardens maintains its top spot as the UK’s most sought after circulation coin with a perfect score of 100.
Isaac Newton, which made it’s debut in our Q2 update, settles on a score of 15, dropping 8 points from 23. This is due to a higher than expected number of Change Checker’s having this coin in their collection.
The 2017 Peter Rabbit 50p joins the “Scarcity Index” after having been released into general circulation at the end of September. A score of 16 makes it the 2nd scarcest Beatrix Potter 50p.
It’s worth noting that we currently only have estimated mintages for these two coins; it’ll be interesting to see how they rank once official mintage figures are released.
£2 Scarcity Index
There’s not a lot of movement in our Quarter 3 £2 “Scarcity Index” update.
Commonwealth Games Northern Ireland regains its position at the top of the table after being briefly replaced by Commonwealth Games Scotland in Q2.
The overall value of the Commonwealth games series has dropped slightly, however these 4 coins are still some way clear of the London 2012 Handover in 5th place.
There are no new £2 coins to add to the Index as we’re still waiting for the Jane Austen and WWI Aviation coins to be released into general circulation. We expect this to happen in Q4.
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.
Revealed: The UK’s rarest £5 Coin
It has now been revealed that the UK has a new ‘rarest’ £5 coin!
The £5 coin that commemorates the last Stuart Queen, has just become the rarest UK £5 coin – knocking the 2011 Prince Philip £5 off the top spot.
The £5 coin commemorates the 300th Anniversary of the death of Queen Anne – the first queen of Great Britain who left behind political stability and prosperity. The design bears an elegant portrait of Queen Anne, styled by Mark Richards FRBS as an eighteenth-century miniature.
It was likely to have been popular with historians when it was released in 2014 but just 12,181 of these coins were struck in Brilliant Uncirculated presentation packs making it the rarest UK £5 coin ever.
If you want to know exactly how rare your £5 coins are, you can read our previous blog here >>
The 2014 Queen Anne £5 – the UK’s rarest £5 Coin
And the announcement of this coin as the UK’s new rarest £5 coin reiterates the point that a less interesting theme or design on a coin, can be a real hidden gem for coin collections.
Let me explain…
It’s obvious that popular coin issues create instant and on-going demand for a coin, but the same can be said for ‘less interesting’ coin designs. This is because the less coins that are sold, the lower the final number of units that are available to future collectors.
The 2011 Prince Philip 90th Birthday £5 has a mintage of just 18,730 and is now the 2nd rarest UK £5 Coin.
But whilst most collectors would shy away from unpopular themes, it is these very coins that are likely to become the most sought after in years to come. And this 2014 Queen Anne £5 is a prime example along with the 2011 Prince Philip £5 coin.
The Prince Philip £5 coin is extremely sought after by collectors and is virtually impossible to get hold of on the secondary market, so it is very likely that the same will happen with the 2014 Queen Anne £5. In fact, sold listings on eBay show that the Prince Philip £5 coin regularly fetches in excess of £50.
So if you’re lucky enough to have the 2014 Queen Anne £5 coin in your collection, make sure you keep hold of it. Demand for this coin is likely to increase dramatically.
And remember, when it comes to collecting, there is one fact which is always inevitable –the rarest coins are always in highest demand.
Unfortunately we do not have any 2014 Queen Anne £5 coins to offer you today but if you’re interested, the 2017 UK Prince Philip CERTIFIED BU £5 Coin is available to order.
Could this new 2017 UK Prince Phillip coin have an even lower mintage?
5 things you can still do with your Round Pounds
The deadline day to trade in your Round £1 coins has now been and gone yet it’s estimated that there’s still over 450 million coins in circulation.
It’s estimated that there are still over 450 million Round Pounds still in circulation.
However, don’t panic if you didn’t have time to return them to the bank or have found some in a forgotten piggybank, there’s a number of options for you.
Here’s a list of five things you can do with your old Round Pounds to ensure that you don’t lose out:
1. Check if your coin is rare
If you find a Round Pound, the first thing to do is check to see if it’s rare. The most accurate way to determine the rarity of a circulation coin is our Scarcity Index.
Our Scarcity Index is the most accurate way to determine the scarcity of your Round Pounds.
From our experience we know that the rarer a coin is, the more desirable it becomes to collectors.
Although they are unlikely to make you rich overnight, some of the rarest circulation £1 coins currently sell for up to £20 on eBay. We’d also expect this to increase slightly now the coins have been withdrawn from circulation.
2. Donate your coin to The RBL Poppy Appeal
The RBL will accept donated Round Pounds for the duration of their Poppy Appeal.
The Royal British Legion have announced that this year they’ll be accepting donated old pounds for the duration of their Poppy Appeal.
You can support the Armed Forces community by donating your coins right up until Remembrance Sunday which falls on the 12th November.
3. Return your coin to the bank
You can still deposit your Round Pounds at high street banks but you’ll need to be quick as this is only a temporary measure and at the bank’s discretion.
4. Spend your coin
A number of retailers have announced that they’ll continue to accept the Round Pound even though it is officially no longer legal tender.
Tesco and Poundland have agreed to continue accepting the Round Pound; Tesco for an extra week and Poundland until the 31st October.
The Federation of Small Businesses has also advised its members to continue accepting the round coins to provide a “useful community service” to customers.
5. Swap your coin using the Change Checker Swap Centre
You can list your Round Pounds as available to swap using our Swap Centre.
Now that an estimated 1.2 billion Round Pounds have been withdrawn from circulation by the Royal Mint, not forgetting the many thousands that have been added to private collections, it’s become increasingly difficult for collectors to complete their Round Pound sets.
If you find a Round Pound which you do not need, why not list it as available to swap on our Swap Centre? It may well be that it is the exact coin somebody is looking for.