Why you should be Checking your Change
I expect that, like me, you were brought up to “check your change”. But it has never meant more than now.
Last year, the Royal Mint launched twenty-nine 50p coins into circulation, one for each of the Olympic disciplines. The result: a nation suddenly keen to check the coins in their pocket, hoping to build a complete collection.
In 20 years in the coin business, it was the very first time I had seen people of all ages genuinely interested by the coins in their change.
But the story should not stop with the Olympic 50p coins.
In fact the Royal Mint has been varying £1 coin designs since the coin was very first issued 30 years ago. Remarkably the 50p first saw a commemorative design in 1973, before they became a regular feature of the UK’s coinage during the 1990s. Similarly, £2 coins were used for commemorative coins as early as 1986, well before the current bi-metallic coin, which went into circulation in 1997, with its first commemorative design being released in 1999 for the Rugby World Cup.
The only collection that will cost you nothing
Of course the joy of change collecting is that it is totally free. Simply keep an eye on the coins in your change and very quickly you’ll own an historic collection of some the UK’s finest coin designs.
But now it is even easier to collect the coins in your pocket with the launch of www.changechecker.org. This completely FREE site is available for mobiles, tablets and PC to help you collect your pocket change wherever you are.
Simply identify your coin by denomination and year to keep track of whether you already own it or not. Plus, if it’s a spare, you can quickly and easily find someone to swap your coin with. All without spending a penny (or any other denomination come to that).
Click here to visit www.changechecker.org.
Discover more about Change Checker with your 90 second guide.
“Penny not at top of agenda” – President Obama joins the debate
The man responsible for the world’s biggest economy blamed too many more pressing issues when questioned on why the US is still spending millions minting its penny when other countries have got rid of it.
Should the US Penny stay or go?
But during the recent online Q & A, President Barack Obama did give his strongest hint yet that it might be time for America’s lowest value coin – which costs 2.4 cents to produce and circulate – to go once and for all.
Drop the penny and save a mint?
In 2009, the US Government lost nearly £20m minting its one-cent coins. That figure had trebled to almost £60m just two years later. At a time of global recession, many argue that ditching the penny would be an obvious cost-cutting measure. Like many others around the world, the UK included, the US penny can’t even buy itself.
Not a top priority
But is it quite as simple as that? Obama may be President of the world’s most powerful nation but even he needs legislation from Congress who, not surprisingly, has other more important things to do. And should the penny go, the five cent Nickel coin would be used more and that costs nearly five times more than the penny to put into circulation at 11.2 cents.
The end of the Canadian penny
As regular readers of this blog will know, should the bill ever go ahead, the US would be the latest in a long line of countries to eliminate its smallest denomination coin. Its North American neighbour stopped its production of the penny in January after more than 150 years.
But Americans it seems are just as sentimental as we Brits are about holding onto a part of our numismatic heritage – despite the fact we can do very little with our pennies but save them for a very rainy day …
“Do you own a scarce Olympic 50p?” UPDATE: Triathlon kicks Football off Olympic 50p top spot
In August last year, we reported the Football 50p to be the scarcest of the Olympic 50p designs according to our Olympic 50p Swap Centre data. So how have things changed over the last 6 months?
Triathlon is now the most in demand Olympic 50p
Well the news is that Triathlon has kicked Football off the top-spot with the latest information revealing the following are the top 5 most requested designs:
- Triathlon
- Wresting
- Judo
- Football
- Rowing
The Brownlee Effect?
Of course you might be forgiven for thinking that Brownlee brothers’ success at the Olympics boosted demand and perhaps it played a small part. However, the biggest influence is how the Royal Mint has released the coins into circulation.
Unfortunately, we are unlikely to know the final figures of how many of each coin was distributed for another 3 and a half years, when the Royal Mint releases mintage information but I am pretty sure top 5 most wanted will be amongst the lowest mintage numbers.
Of course, in the meantime, if you are looking to complete your Olympic 50p Collection you can register to find other collectors to swap with absolutely FREE at the Olympic 50p Swap Centre.