Coin News
The remarkable story of when a British 2 pence weighed the same as a Mars Bar…
Have you the story behind the Cartwheel Pennies? Not only are they the heaviest and largest coins ever issued for circulation, they were also issued for ONE-YEAR-ONLY.
Here’s the story…
Throughout the 18th century silver prices increased, which resulted in a substantial decrease in the amount of silver pennies that were being minted. This led to a lack of small change and businesses were finding it difficult to pay their employees with the current coinage.
Two of the largest coins ever issued in British history
Subsequently, a trend began where independent Mints started striking copper half penny and penny tokens. Most of these tokens were being minted at the ‘Soho Mint’ in Birmingham, which was actually the very first Mint to be powered by Steam.
Whilst this was not legitimate money it solved the issue and it took off – companies all over Britain were ordering personalised tokens.
Two of the largest coins ever issued in British history
However, the ‘solution’ meant there was a problem…
The British Government had lost control of the coinage. In an attempt to regain control, they instructed Soho Mint to strike 480 tonnes of copper pennies and 20 tonnes of copper twopences.
These were to be the first regal British coins of the denominations to be made of copper, and the very first official British coins to be struck using steam power.
8 times heavier than today’s 1p and 2p coins
The coins were large! In fact, the 1 pence weighed an incredible 1oz and the 2 pence weighed 2oz – that’s the same weight as a Mars Bar and almost 8 times heavier than the current 1p and 2p coins. At that size, it’s hard to believe these ever jangled in the pocket of our ancestors!
The coins weighed so much because they were struck in pure copper and their intrinsic value corresponded to their actual face value. Their design was simple – a portrait of the monarch at the time, King George III on the obverse and Britannia on the reverse.
The dramatic size of these coins and their unusually wide raised rim is why they became known as ‘Cartwheel’ pennies.
The modern 1p coin compared to the 2oz 2p coin
Issued for one-year-only
The ‘Cartwheel’ pennies were designed this way to prevent counterfeiting, but their size and weight made them cumbersome and unwieldy. They were immediately unpopular with the public as people didn’t like carrying them around – the two-pence was an INCH and three-quarters in diameter and a quarter inch thick. There were soon calls for them to be discontinued and shortly after, the coins were redesigned.
Due to the rise in the price of copper, the intrinsic value of the coins soon exceeded their face value and subsequently the majority of these coins were melted down.
This meant, the coins were issued for one-year-only, which automatically makes them two of the must-have modern coins and key coins in any British collection.
Small number of the original 200 year old ‘Cartwheel’ coins available…
We have secured a small number of sets containing the original 200 year old ‘Cartwheel’ coins – the two pence and the penny. They come presented in a deluxe presentation case with an accompanying Certificate of Authenticity. They really are key must-have coins in any British collection.
The $1 Coin Series set to become a Collecting Phenomenon…
We’ve been admiring US coinage recently and if you’ve read our previous blog detailing the series that half of American collected, you’ll be very excited to hear that starting from 2019, the United States Mint will begin minting and issuing the American Innovation $1 Coin Act – a brand new coin series honouring American innovation.
This latest numismatic programme looks set to follow on from the success and popularity of the US Territories Quarters series mentioned above, which not only kick started coin collecting in America, but worldwide!
Each coin represents its own state and will be released in the order that its respective state was ratified in the Constitution of the United States and admitted to the Union.
Candidate designs developed for the 2018 American Innovation $1 Coin Program in accordance with the Act that authorized them. Credit: www.usmint.gov
Released over a 14 year period, these coins will all bear an obverse with the Statue of Liberty and the inscriptions of “$1” and “In God We Trust”. The reverse images will be representative of a significant innovation, an innovator/group of innovators from each of the 50 states, the District of Columbia and the territories of the US. The reverse designs will be selected by the Secretary of the Treasury after consultation with each Governor, chief executive and the U.S Commission of Fine Arts.
Most excitingly, the first introductory coin is set to be released later this year! The reverse of this coin will be inscribed with “United States of America” and “American Innovators,” and it will include a representation of President George Washington’s signature on the first U.S. patent.
Following this introductory coin, the rest will be released at a rate of 4 coins per year. Just like the US State Quarters Series, The American $1 coins are expected to rapidly become one of the most widely collected series. But will you be collecting these new US $1 coins? Let us know in the comments below!
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Start collecting US coins today!
2009 District of Columbia and United States Territories Quarters! Credit: usacoinbook.com
Start your very own journey into US coin collecting with the US State Quarters that Half of America Collected…
The Snowman 50p Coin – what we know so far…
The UK’s incredibly popular Paddington 50p coins are to be followed up by a brand new Snowman 50p coin.
According to the Royal Proclamation, published on 29 June, there will be a new coin:
– A depiction of the Snowman from the book The Snowman and the boy flying through the air.
It’s expected the coin will be issued later this year to celebrate 40 years of Raymond Brigg’s The Snowman, with commemorative collector’s editions available in Brilliant Uncirculated, Silver and Gold being made available.
Not the first time The Snowman has appeared on a coin
In fact it’s not the first time that The Snowman has appeared; he featured on few different 50p coins from the Isle of Man – now listed for as much £40 on eBay.
The next 50p collecting craze?
Although all the details have not been released yet and the actual designs are still top secret, it seems likely that the Snowman 50p coins will be as popular with the British public as Peter Rabbit and friends have proved over the last three years.
Stay up to date with all the latest Snowman news…
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