Posts Tagged ‘Scarcity Index’

2017 Quarter 4 Change Checker “Scarcity Index” Released

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

Q4 50p Scarcity Index 1 965x1024 - 2017 Quarter 4 Change Checker "Scarcity Index" Released

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

Q4 2 Pound Scarcity Index 589x1024 - 2017 Quarter 4 Change Checker "Scarcity Index" Released

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?

The £1 Scarcity Index has already been published for the Round £1 coins and, because they are no longer being issued, this is now set in stone.

2017 Quarter 3 Change Checker “Scarcity Index” Released

Following the launch of the Change Checker “Scarcity Index” earlier this year the Quarter 3 Index has now been published.

50p Scarcity Index

Q3 2017 50p Scarcity Index 1 - 2017 Quarter 3 Change Checker "Scarcity Index" Released

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.

Isaac Newton, which made it’s debut in our Q2 update, settles on a score of 15, dropping 8 points from 23. This is due to a higher than expected number of Change Checker’s having this coin in their collection.

The 2017 Peter Rabbit 50p joins the “Scarcity Index” after having been released into general circulation at the end of September. A score of 16 makes it the 2nd scarcest Beatrix Potter 50p.

It’s worth noting that we currently only have estimated mintages for these two coins; it’ll be interesting to see how they rank once official mintage figures are released.

£2 Scarcity Index

Q3 2017 2 Pound Scarcity Index 2 624x1024 - 2017 Quarter 3 Change Checker "Scarcity Index" Released

There’s not a lot of movement in our Quarter 3 £2 “Scarcity Index” update.

Commonwealth Games Northern Ireland regains its position at the top of the table after being briefly replaced by Commonwealth Games Scotland in Q2.

The overall value of the Commonwealth games series has dropped slightly, however these 4 coins are still some way clear of the London 2012 Handover in 5th place.

There are no new £2 coins to add to the Index as we’re still waiting for the Jane Austen and WWI Aviation coins to be released into general circulation. We expect this to happen in Q4.

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?

The £1 Scarcity Index has already been published for the Round £1 coins and, because they are no longer being issued, this is now set in stone.

5 things you can still do with your Round Pounds

The deadline day to trade in your Round £1 coins has now been and gone yet it’s estimated that there’s still over 450 million coins in circulation.

Pounds 1 - 5 things you can still do with your Round Pounds

It’s estimated that there are still over 450 million Round Pounds still in circulation.

However, don’t panic if you didn’t have time to return them to the bank or have found some in a forgotten piggybank, there’s a number of options for you.

Here’s a list of five things you can do with your old Round Pounds to ensure that you don’t lose out:

1. Check if your coin is rare

If you find a Round Pound, the first thing to do is check to see if it’s rare. The most accurate way to determine the rarity of a circulation coin is our Scarcity Index.

scarcity - 5 things you can still do with your Round Pounds

Our Scarcity Index is the most accurate way to determine the scarcity of your Round Pounds.

From our experience we know that the rarer a coin is, the more desirable it becomes to collectors.

Although they are unlikely to make you rich overnight, some of the rarest circulation £1 coins currently sell for up to £20 on eBay. We’d also expect this to increase slightly now the coins have been withdrawn from circulation.

2. Donate your coin to The RBL Poppy Appeal

Poppy pound 300x300 - 5 things you can still do with your Round Pounds

The RBL will accept donated Round Pounds for the duration of their Poppy Appeal.

The Royal British Legion have announced that this year they’ll be accepting donated old pounds for the duration of their Poppy Appeal.

You can support the Armed Forces community by donating your coins right up until Remembrance Sunday which falls on the 12th November.

 3. Return your coin to the bank

You can still deposit your Round Pounds at high street banks but you’ll need to be quick as this is only a temporary measure and at the bank’s discretion.

 4. Spend your coin

A number of retailers have announced that they’ll continue to accept the Round Pound even though it is officially no longer legal tender.

Tesco and Poundland have agreed to continue accepting the Round Pound; Tesco for an extra week and Poundland until the 31st October.

The Federation of Small Businesses has also advised its members to continue accepting the round coins to provide a “useful community service” to customers.

5. Swap your coin using the Change Checker Swap Centre

swap centre 300x198 - 5 things you can still do with your Round Pounds

You can list your Round Pounds as available to swap using our Swap Centre.

Now that an estimated 1.2 billion Round Pounds have been withdrawn from circulation by the Royal Mint, not forgetting the many thousands that have been added to private collections, it’s become increasingly difficult for collectors to complete their Round Pound sets.

If you find a Round Pound which you do not need, why not list it as available to swap on our Swap Centre? It may well be that it is the exact coin somebody is looking for.