When the Royal Mint hits 1,250 monarchs on Saturday, it will announce the final release of coins in its commemorative collection to mark the coronation of King Charles III.
There’s already been a rush on these Coronation Day Sovereigns, 5oz gold coins and 1kg silver coins, with pre-orders for collectors, but there are still a handful that are worth investing in.
So whether you’re an avid numismatist, a royalist or just fancy starting a collection to see if they might be worth something in years to come, here’s what to look out for.
The 22 piece range includes £5 coins, 50 pence pieces and gold sovereigns.
But according to Jon White, a coin expert at the Britannia Coin Company, based in Swindon, there are three standout coins that will be highly sought after. These are the silver 50 pence coin, the sovereign and the silver 5 oz coin.
Coining it in: Royal Mint’s 22 piece range includes £5 coins, 50p pieces and gold sovereigns
It is the first time a 50p has been minted to commemorate a coronation, and only a limited edition of 12,500 silver coins will be released in a thriving collector’s market. They cost € 59.50 each.
“The 50p collector market in this country is extremely popular and this coin will become the most successful item for the vast majority of collectors,” says Mr White.
A 50p silver piece released by The Royal Mint to mark the Queen’s Jubilee also sold for £59.90 last year. It’s on sale now for £245 from Britannia Coin Company.
For valuable collectors, Mr White suggests that the £850 limited edition Sovereign will be the most sought after piece in the collection as it could gain value over the long term.
Only 1,250 of these coins will be minted and they will come with a certificate of authenticity confirming they were minted on May 6.
“This is a sovereign with a very low mintage, which means they will sell out in a heartbeat,” says Dominic Chorney, coin specialist at London auctioneer AH Baldwin and Sons. “If you can buy one of these coins, you’re very lucky.”
On the obverse is an image of St George, the patron saint of England, who has appeared on coins for hundreds of years.
“This coin has been issued by every monarch almost every year since King George III. The design has remained virtually unchanged for 200 years,” says Mr Chorney.
Coins with this image can be very valuable, especially if they are released during a historical celebration.
For example, AH Baldwin and Sons has a Queen Victoria 1887 Jubilee £5 coin with this image for sale for £4,000.
Only 1,500 silver coins (5oz) were minted for the collection and have already sold out at £480 each.
Mr White says: ‘Collectors are always looking to invest in precious metals, and as this is a large coin, weighing 156 grams, it will be in great demand for years to come.’
All disappointed collectors can now find one for resale at the Britannia Coin Company for £595.
WHAT ELSE CAN I BUY?
The most expensive item is a whopping 1kg gold coin, which can be yours for £77,565.
Other items in the collection include a £5 commemorative coin in silver and gold, available from £14.50 and in two proof ounces and various weights. Prices range between £11 and £1,220.
CHARLES IN YOUR SWITCH
Later this year, The Royal Mint will circulate five million 50 pence coins on Coronation Day through post offices.
The coins will feature the image of Westminster Abbey on one side and the same uncrowned portrait of the King on the other as seen on the 50 pence pieces that came into circulation last year.
‘The 50p that is put into circulation will become popular, as will the collector’s items,’ says Mr White.
King’s Ransom: The 1kg gold coin, above, is worth £77,565. Middle, the silver 50p and at the top the £850 sovereign
Added to this is the traditional appeal of coins, as cash is becoming less popular with so many transactions done with a debit or credit card. “People will put these coins aside as keepsakes, so in a very short time the number that appears in circulation will decrease,” adds Mr. White.
This may slightly increase their value, although with five million in circulation they are unlikely to reach the value of rarer coins.
For example, only 210,000 coins were released in 2009 with a face value of 50p depicting the pagoda at Kew Gardens. They are now selling for up to £160.
TAX FREE BONUS
Because the commemorative coins are of such high quality, they are considered ‘investment-grade’ and are exempt from VAT when purchased.
Unlike investing in gold, you don’t have to pay capital gains tax if they increase in value and you sell them, as they are considered legal tender.
AWARD-WINNING GLORY
The collection is also important because it is one of the few times in hundreds of years that a king has been depicted wearing a crown on British coins, Mr Chorney says.
“We think these are the first coins of an English king wearing a crown since the last King Charles,” he says. “If this is the only series of coins in which the monarch wears a crown, then they will certainly be very valuable in the future.”
A PIECE OF HISTORY
It’s the sentimental value of the coins that makes them so collectible, says Alex Siddons of coin website Change Checker. “People like to buy coins when there’s a big royal occasion because it makes them feel part of the event,” she says. To purchase from the collection, visit royalmint.com or call 0800 0322 152.
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