Britannia has a long standing history with British coinage. Having first appeared on a 1672 Farthing during the reign of Charles II, she subsequently featured on a British coin in one way or another for more than 300 years. In 2008 she was surprisingly dropped from the 50 pence piece despite a Daily Mail campaign to save her.
After a short absence, in February 2015 it was announced that Britannia would be making a triumphant return to British circulating coins. Antony Dufort’s modern interpretation of Britannia was to feature on Britain’s highest denomination coin, the £2, replacing the “technology” design which had featured on the coin since 1997.
It was a very popular move from The Royal Mint, even the then Prime Minister David Cameron said: “It is great to see Britannia’s welcome return to our currency. Britannia is an enduring symbol of our national identity, ideal to help reinforce the sense of shared purpose and history for Britons.”
However, it wasn’t until 2016 when The Mint released the mintage figures for the 2015 coins that the real surprise was unveiled.
Only 650,000 of the 2015 date Britannia £2 coins had been stuck for circulation, making it one of the most scarce UK £2 coins ever! So scarce in fact that there were fewer of this coin than the England and the Scotland coins from the famous 2002 Commonwealth Games series.
The astonishing fact that Britannia had appeared on a circulating British coin in one way or another in an unbroken cycle between 1672 and 2008 was enough to ensure this £2 would be a favourite with collectors. The announcement of such a low mintage figure then created somewhat of a collecting frenzy!
The 2015 Britannia coin remains highly sought after by collectors.
The UK 2015 Britannia £2 Coin
That places it third equal in the all-time low mintage charts!
Following the launch of the Change Checker “Scarcity Index” early last year, the final 2017 Quarter 4 Index has now been published.
50p Scarcity Index
It’s of little surprise that Kew Gardens maintains its top spot as the UK’s most sought after circulation coin with a perfect score of 100.
The mintage figures for the 2017 50p coins were released just before Christmas and have had an effect on the Scarcity Index scores. Interestingly, the Sir Isaac Newton 50p only scores a 3/100 which is lower than we anticipated. This is mainly due to the large number of Change Checkers who list having the coin in their collection. However, we are expecting this score to increase during the next quarter due to the low mintage figure, of just 1.8 million, driving demand.
Jemima Puddle-Duck remains the most scarce Beatrix Potter 50p, with Tom Kitten and Benjamin also scoring quite highly with a score of 13 and 7 respectively. Tom Kitten and Benjamin Bunny were only released into circulation in December so requests for swaps are high. Mintage figures for these coins are also relatively high so as more people find these coins in their change it is possible these scores will decrease slightly.
Interestingly, the mintage figure for the Jeremy Fisher 50p coin has been released, however the coin is not yet in circulation.
£2 Scarcity Index
There’s not a lot of movement in our Quarter 4 £2 “Scarcity Index” update.
The Commonwealth Games Wales £2 coin takes top spot from the Commonwealth Games Northern Ireland. This is down to the very large number of swap requests for this coin in the last quarter. At 99/100 the Northern Ireland coin is still very scarce (as are the other two coins in the Commonwealth Games series) and it’s very possible it will retake the number 1 spot next quarter.
We are still waiting for the Jane Austen and WWI Aviation £2 coins to be released into circulation, hence why they do not feature on our Index. We await the release of these and their mintage figures with great interest, could they be low like the Sir Isaac Newton 50p? It is possible.
How the Scarcity Index works
Generally collectors have had to rely upon mintage figures to identify the scarcest coins. But they only tell part of the story. Trying to find a good quality coin from 15 – 20 years ago, even for a higher mintage issue, is much more challenging than a more recent issue, as coins become damaged over time and are ultimately removed from circulation.
Additionally, some designs are more hoarded than others by people who might not normally collect coins – the recent poignant First World War £2 Coin series being an example. Finally, it can be up to a couple of years before the Royal Mint eventually confirms the actual mintage for an issue.
That’s why we have combined the mintage information with two other key pieces of information.
- How many of each design are listed as “collected” by Change Checkers, indicating the relative ease of finding a particular coin.
- The number of times a design has been requested as a swap over the previous 3 months, showing the current level of collector demand.
Importantly, as new coins are released and popularity rises and falls across different designs the Scarcity Index will be updated quarterly allowing Change Checkers to track the relative performance of the UK’s circulation coins.
How much are my coins worth?
The Scarcity Index does not necessarily equate to value but it is certainly an effective indicator. For example, the Kew Gardens 50p coin commands a premium of up to 160 times face value on eBay.
What about £1 Coins?
Change Checkers are often asking me, “when will the 2017 coin designs be released into general circulation?”
So, I have compiled a list below showing which coins are now available in your change and those that are still to be released.
The list will be updated as soon as we get confirmation from The Royal Mint that any new coins have entered circulation.
2017 circulation coin release dates
- WWI Aviation £2: A small amount released in September (Duxford Airshow), full release TBC
- Jane Austen £2: A small amount released in July (Winchester Cathedral), full release TBC
- Peter Rabbit 50p: September 2017
- Jeremy Fisher 50p: TBC
- Tom Kitten 50p: December 2017
- Benjamin Bunny 50p: December 2017
- Sir Isaac Newton 50p: June 2017
It’s worth noting that coins are only released into general circulation as and when they are required by the banks.
If you find yourself asking, “When are the 2017 coins released into circulation?”, this is the place to check!
If you find any of the 2017 coins in your change, especially those that are still to be released into circulation, we’d love to hear from you.