The NEW £1 Scarcity Index reveals which £1 coins are the rarest

Can’t wait – click here to reveal the UK’s “scarcest” £1 coin

With the Great One Pound Coin Race underway, collectors across the UK are desperate to know which £1 coins are the hardest to find in their change.

Up to now, change collectors have relied upon mintage figures for their indication as to which coins in circulation are the rarest.  But the story is not that simple.

650 million coins lost from circulation

The £1 coin has been in circulation since 1983.  During that time a total of 2.2 billion £1 have been struck for circulation.  But they are not all still in use.

"British coins. Could be The economy, wages, home finance, savings, etc."

There are 1.5 billion coins in circulation but probably fewer than 800,000 of the rarest design

The last available figures for coins in circulation, published by The Royal Mint for 2014, suggest that 1,553,000,000 £1 coins are in circulation.

In other words, 650 million of the coins struck no longer circulate, presumably withdrawn over the years as worn or damaged.

The majority of those 650 million coins are from the early issuing years, meaning that although some of those years may have high mintages, the actual number of coins available to collect from your change is far lower.  In fact our research suggests that only a little more than half of the early years’ £1 coins are still in circulation.  Far fewer if you’re trying to secure one in good collectable condition.

Scarcity breeds scarcity

But even that is only part of the story.  Of course, scarcity breads scarcity.

Even before the launch of the Great One Pound Coin Race, we noticed a rise in collector interest for £1 coins on the back of the introduction of the new 12-sided £1 coin.  And the demand is always disproportionately high for the more difficult coins.  The result is a continued ratcheting up in demand for the rarer coins.

The NEW Change Checker £1 Scarcity Index

That’s why Change Checker has launched the new £1 Scarcity Index.  Rather just relying on mintage figures, we have combined them with the two critical points above – the actual numbers of coins in circulation and real collector demand, measured by Change Checker swap data – to create a unique Scarcity Index for the £1 Coin.

Scaled from 100 to 1, the scores represent the relative scarcity of each coin, with 100 being the most scarce.

scarcity-index

So will I ever find the Edinburgh City £1 Coin in my change?

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With a scarcity rating of 100, the Edinburgh City £1 Coin is the rarest Round £1 in circulation

With the Edinburgh City £1 Coin topping the Scarcity Index, will you ever actually find one in your change?

Well certainly it won’t be easy – but it’s definitely possible.  Our calculations suggest there are probably somewhere between 600,000 – 800,000 Edinburgh City coins still in circulation.  In other words, it is of similar rarity to the recently issued 2015 First World War Navy £2 but far less scarce than the rarest current circulation coin – Kew Gardens 50p, which had a mintage of just 210,000.

On average, it means that you will have to examine roughly 3,000 mixed £1 coins to find the Edinburgh City £1 Coin.  But with over 6,000 Change Collectors already listing the Edinburgh City £1 Coin in their collection, it is certainly an achievable goal.

Plus keep following Change Checker because we’ll be giving away any Edinburgh City £1 Coins we come across as competition prizes, all as part of the Great One Pound Coin Race.

Read more tips on how you can find those hard to get coins.


the-great-one-pound-coin-race-banner-350x350It’s not too late to join the Great One Pound Coin Race.

Simply click here to enter today and you too could own a complete collection of £1 coins direct from your change before they’re gone for ever.

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Bank of England sticks with £5 note despite animal fat concerns

Last year it came to light that the new plastic fivers are actually made using tallow, a substance produced from animal fat.

The news sparked an online petition calling for the Bank of England to stop using tallow in the production of the notes, which has since attracted more than 130,000 signatures. You can read more about this in our previous blog.

polymer-bank-note-not-vegan-2-2

The new £5 notes were released into circulation in September and caused a collecting frenzy! The new plastic £10 notes are due to enter circulation in September.

However, yesterday the Bank of England confirmed “that it would be appropriate to keep the £5 polymer note in circulation and to issue the £10 polymer note as planned, in September.”

The Bank said it undertook a careful review of options, including destroying current notes in circulation, reprinting the notes without the tallow additive and delaying the planned introduction of polymer £10 notes but concluded that taking action would be too costly and could put the efficiency of the counterfeit measures at risk.

So do you think the Bank of England’s decision to stick with the plastic notes despite the animal fat concerns is a good or bad idea?

Let us know in our poll:

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The Great One Pound Coin Race Collector’s Kit

The Great One Pound Coin Race Collector’s Kit gives you everything you need to collect, house and protect your collection of £1 coins as you find them.

Each collecting kit includes:
– 24 x One Pound Coin Collector Cards
– 3 x Change Checker Collector pages
– A special collector card for the new 12-sided £1 coin so you can add one to your collection
– A title page detailing all 24 coins to collect from your change
– An opportunity to own the 2016 Last Round Pound that never entered circulation.

Plus you’ll receive The Great One Pound Coin Race Participant’s Medal (worth £5.00) absolutely FREE.

There’s no better way to house your collection of £1 coins – get yours today!

Order yours today for just £25 (a current saving of £5.00 on the normal price).

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