Coin News
Could this Bee a new error £1 coin?
2.975 million King Charles III Bee £1 coins entered circulation in August 2024. Since then, the race has been on to track down these new coins creating a buzz in the collecting world!
Many collectors have already been lucky enough to come across the Bee £1, but perhaps none so lucky as Diane Bath, who spotted a rare error on one of the coins…
The error coin causing a buzz
Diane runs The Post Office in Broughton-in-Furness, Cumbria, where she found a King Charles III Bee £1 struck in entirely one colour!
The image below shows the single metal coin, without the silver-coloured inner piece seen on standard United Kingdom £1 coins:
£1 coins are struck from a nickel-brass outer ring and an inner piece made from a nickel-plated brass alloy. It’s possible that this error coin was created due to the inner section not being punched out of the nickel-brass before the coin was struck. For confirmation of this, we’d suggest sending the error coin to The Royal Mint for verification.
Diane, a postmistress of over 20 years, told the press: “I am absolutely over the moon. Obviously we handle cash all the time and it’s the most exciting find I’ve ever had in over two decades.”
Worth a pretty penny
The coin was auctioned on 18th October by Ryedale Auctioneers, and whilst it had an estimated value of £500-£800, it actually sold for £1,250!
Image Credit: Ryedale Auctioneers
A similar error occurred when the first 12-sided £1 coins were released back in 2017, although only a small handful of these error coins were ever found. Reportedly, one such error coin sold for over £2,000 at auction!
Ultimately, the selling price of a rare error item like this at auction depends on how much a collector is willing to pay to get their hands on it. So remember, if you’re looking to secure an error coin on the secondary market, always do your research and be aware of fakes before you buy.
Have you spotted any errors on the new King Charles III coinage? Let us know in the comments below!
Secure the Complete Set of New UK Coinage!
Whilst the Bee £1 and Salmon 50p can now be found in your change, it could be years until all 8 coins can readily be found in circulation…
So don’t miss out! Own the complete set now, with each coin including a special privy mark to set them apart from the coins in your change!
Secure the complete collection for just £32.50 + (p&p) here >>
Can you spot the ‘major design error’ on The Gruffalo’s Child 50p?
I knew this 50p would hit the headlines, but I didn’t think it would be because of a major design ‘error’!
The brand new 50p released today celebrates the 20th anniversary of the best-selling children’s book – The Gruffalo’s Child. Following in the footsteps of the sell-out Gruffalo 50ps from 2019, the 2024 The Gruffalo’s Child is already proving incredibly popular with collectors.
But you might already have noticed something unusual is afoot with the coin’s design…
How many toes?
The coin’s design brings to life a pivotal moment in the story when the Gruffalo’s Child comes face to face with the cunning mouse. The mouse can be seen to the left, sporting a sneaky smirk and the Gruffalo’s Child waits anxiously on the right, Stick Man in hand.
Whilst I’m sure you’ll agree this new 50p is simply adorable, what you might not have realised is that the design includes a major ‘error‘…
If you look closely, you’ll see the Gruffalo’s Child is depicted with three toes on each foot. Interestingly, eagle-eyed collectors out there have noticed that this could be a potential error on the coin. That’s because the original illustrations from the book show the Gruffalo’s Child with four toes (or rather claws!) on each foot, as does the 2011 BBC film adaptation.
Although the coin design features an image taken from an illustration in the book, it seems that the book version shows the Gruffalo’s Child’s toes hidden in the snow, whereas they can be seen above the snow on the coin. And this is where the ‘error’ can be spotted.
You’ll also notice that although the footprints in the snow aren’t clearly defined in the original illustration, on the coin they clearly show just three toes on each of the Gruffalo’s Child’s footprints.
Whilst this could be due to the viewing angle where two toes might be hidden by the snow, there’s no doubt that the footprints only have three toes on each!
Previous design ‘error’
This isn’t the first time there’s been a design ‘error’ like this on a UK coin, as the 2021 H. G. Wells £2 featured a four-legged tripod, making it arguably one of the most controversial and talked about coin designs in recent years. The unusual design hit the headlines when collectors noticed the additional leg featuring on the Martian from Wells’ famed War of the Worlds when the coin was issued in the 2021 Annual Coin Set.
Could this make The Gruffalo’s Child 50p even more sought-after?
This isn’t technically an ‘error coin’, but could show an issue with the design if indeed The Gruffalo’s Child is missing two toes!
Something like this generally makes coins even more collectible and sought-after amongst collectors. It certainly makes for interesting collecting and, with press articles already popping up about the ‘major error’, this 50p is certainly one to watch…
Don’t miss out on the chance to own yours!
Secure the 2024 The Gruffalo’s Child 50p for your collection >>
The Isle of Man’s big move to phase out little coins
The Isle of Man have shared some big news about their copper coinage, and it’s causing quite a stir in the collecting community. They have confirmed that the phasing out of 1p and 2p coins will begin this year, meaning the days might be numbered for copper coins.
Why the change?
Following a consultation in 2023 by the Manx government about whether it should keep copper coins, residents responded with “no thanks”. With a population of only 84,000, many young people on the island said they don’t carry cash at all, and most rely entirely on cards or contactless payments. The pandemic also forced islanders to adapt to card payments.
Credit: Kamran.nef, CC BY-SA 4.0, via Wikimedia Commons
Rising costs of minting new coins, especially coppers, means that making a new 1p coin now costs more than a 1p coin is worth. It’s not just the coppers either, as its estimated that a new 5p coin costs around 20p to make.
Taking these factors into consideration, the Isle of Man has encouraged businesses to introduce ‘cash rounding’ as the first phase.
What is cash rounding?
Cash rounding is the practice of rounding prices to the nearest five or zero, eliminating the need for 1p and 2p coins.
Cash rounding has been used in Sweden since the 1970s and was also adopted by Canada, New Zealand and the Republic of Ireland.
Credit: Zannaoriordan, CC BY-SA 4.0, via Wikimedia Commons
Credit: Jennifer McNairMuseums Victoria, via Wikimedia Commons
Copper coins will remain legal tender on the island, and won’t be withdrawn from circulation, but no more will be minted.
Let’s hear from the Isle of Man
After the cash rounding initiative was announced, there were concerns from the public about inflation. However, businesses were quick to claim that, based on research from other countries, this would not be a problem.
The Isle of Man’s treasury minister, Dr Alex Allinson MHK, said: “Most businesses here didn’t think it would cause significant inflation. But certainly the public perception is that it would do.”
He also stated that: “If the UK were to get rid of coppers, we would probably follow suit”.
No new coppers have been minted by the Isle of Man since 2016 due to decreased demand, and even the most recent decimal coin set, the 2023 Manx Wildlife Set, didn’t feature 1p or 2p denominations – so the phasing out process has been inevitable for a while.
What about the UK?
The number of cash payments in the UK has reduced significantly in the last 10 years, and especially so since the pandemic.
According to The Royal Mint, no new 2p coins were minted in 2022 and no new pennies were minted in either 2018 or 2019. This is an indication of decreasing demand for small change, even in the UK, so it’s not surprising that the Isle of Man, with a much smaller population, would be one of the first places to implement the phasing out of coppers.
Find out more about the future of 1p and 2p coins in the UK >>
A Treasury spokesperson confirmed that there are currently no plans to change the denominational mix of coins in the UK. So if the Isle of Man is waiting to follow our lead on getting rid of coppers, it’s unlikely that any definitive changes will happen anytime soon.
What do you think about copper coins? Do you still use the 1ps and 2ps in your change? Let us know in the comments!
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