The Royal Mint initially predicted that the number of new 12-sided £1 coins in circulation would overtake the Round £1 Coin by August this year.
However, due to the amount of coins that have already been returned, 8 million in total, the date has been revised to as soon as late July. Of the returned coins, most will be re-used to produce new 12-sided £1 coins, with the rest being disposed of.
This is important news for industries that deal in large quantities of £1 coins, such as vending and arcade machines, who’ll need to bring forward their machine conversation date.
Most importantly, for Change Checkers this means it is going to become increasingly challenging to complete The Great One Pound Coin Race. However, we know that you love a challenge and we’re here to help you get across the finishing line.
For all the best Round £1 Coin collecting hints and tips, take a look at our video:
For the brave ones amongst you, you can still sign up to The Great One Pound Coin Race, there’s still over 100 days to go!
Rumours of the Dual-Dated £1 Coin appear to have been confirmed in the national press today.
Although we haven’t seen the coin ourselves, we’ve spoken to the collector claiming to be in possession of one and seen a number of images, leading us to believe that he has found a genuine error.
The error in question is a 12-sided £1 coin with two different dates – 2016 on the obverse and 2017 micro engraved on the reverse.
So, what everybody wants to know is, “what is this coin worth?”
At this stage it’s difficult to answer with any certainty. The error is very hard to spot with the naked eye and there is currently no indication as to how many of these error coins have been struck.
Probably the best example to compare it to is the 2008 undated 20p where there was an initial spike in interest and some coins sold for an inflated price in the thousands. However, this did settle down fairly quickly and today you’d expect to pick one of these up for between £50-75.
What is clear, is that this appears to be a genuine error and as such considerably more collectable than many of the mis-strikes and tampered with £1 coins that have recently appeared online.
Have you found a Dual-Dated £1 coin?
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In fact, the Lion of England design was first revealed in 2016 but appeared to be released solely for use with gold and silver bullion coins. However, the design by Jody Clark (the man behind the current Queen’s effigy) met such popular acclaim that the Royal Mint has now confirmed its release in brilliant uncirculated base-metal.
Unprecedented in the modern era
The use of a bullion coin design on a base-metal coin is unprecedented in the modern era, often meaning that some of the UK’s very best coin designs, used on Britannia and Sovereign coins, have simply been too expensive for change collectors to own.
In fact, it is only Pistrucci’s St. George and the Dragon that has ever appeared on a base metal coin, under George VI in 1951, notably at a time when the Sovereign was not even being issued as a bullion coin.
More base metal issues to look forward to
So does this mean that we can expect to see Pistrucci’s St. George and the Dragon and the latest Gold and Silver Britannia Coin designs available in base metal?
Sadly, I think not. But there is some good news for collectors who love Jody Clark’s Lion design.
The Royal Mint has also revealed an accompanying Unicorn of Scotland £5 coin, enabling collectors to own both “supporters” of the Royal Coat of Arms.
Will there be eight more coins to collect?
Whilst the Unicorn of Scotland coin is yet to be released in Silver and Gold it is ear-marked to be part of a continued series of Silver, Gold and Platinum Bullion coins to be issued over 5 years. The set is inspired by the Queen’s Coronation Beasts that lined the entrance to Westminster Abbey for her coronation in 1953.
Currently there is no final confirmation from the Mint, but it seems likely the remaining eight coins will follow in brilliant uncirculated base-metal over the coming 4 years- a definite highlight for base metal collectors. And if the popularity of the precious metal coins is anything to go by, this latest release will be a guaranteed winner with base metal collectors too.
The new Lion of England and Unicorn of Scotland £5 Coins are available to order today in certified Brilliant Uncirculated Condition- CLICK HERE