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New pound coins in 2017

Started by andyg, March 18, 2014, 11:47:34 PM

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andyg

Royal mint earlier announced that there are to be no 2016 pound coins issued.
Demand should be met from existing (2015 dated) stock.

http://blog.changechecker.org/2015/12/17/why-you-wont-be-finding-any-2016-1-coins-in-your-change/
always willing to trade modern UK coins for modern coins from elsewhere....

<k>

So, two different views from the members. At least I got my 2015 pound in change, a day before Xmas. The lion and the unicorn were often seen on biscuit tins, etc., up to the mid-1960s, so I have a certain affection  for them.
Visit the website of The Royal Mint Museum.

See: The Royal Mint Museum.

andyg

Quote from: <k> on December 28, 2015, 03:34:04 PM
So, two different views from the members. At least I got my 2015 pound in change, a day before Xmas. The lion and the unicorn were often seen on biscuit tins, etc., up to the mid-1960s, so I have a certain affection  for them.

The cause is conflicting messages from the mint.
Last year, they announced the commemoratives for 2015 would have the new portrait (with the exception of the £2 released in Belfast) - then through their blog they said the commemoratives would have the old portrait - but they stuck to what they said in the original announcement. I think they cause confusion via the social media they put out, which it seems can sometimes be just plain wrong.
always willing to trade modern UK coins for modern coins from elsewhere....

Pabitra

In other words, drama shall continue to unfold in 2016.
Surely, 2016 shall be part of interesting times ahead.
We may get both four animals pound and coat of arms shield pound.

eurocoin

No the mint has been very clear, there will be no 2016 dated round 1 pound coins for circulation. They have posted a photo of the very last round one pound coin that has been minted for circulation on their Facebook page.

Alan71

Are we really supposed to believe that the "four animals" £1 is only going to be issued in sets?  If so, it will be more rare than the Kew Gardens 50p!  My guess is that, as with the two new portrait versions this year, it will be the new design that is issued, with the "shield" version only being issued in sets.

If there really aren't going to be any 2016-dated £1 coins issued for circulation, we should all be buying up the 2016 sets, wait for the media to get wind of the new £1 coin design's rarity and then start selling them at at least a 200% profit on eBay...

eurocoin

There won't be any 2016 dated round 1 pound coins for circulation. Previously the Completer Medal was the only coin of the Coin Hunt Folder that had to be bought from the Royal Mint. Which was a big success as no one wanted an empty slot in their folder. Royal Mint has now replaced that completer medal in the new Coin Hunt Folders with a 1 pound coin that can only be bought from them. There are enough 1 pound coins in circulation so there is no need to mint 1 pound coins for circulation in 2016.

kena

It is interesting the following set has two difference 1 pound coins in it:

http://www.royalmint.com/shop/The_2016_United_Kingdom_Collector_Proof_Set

Rather disappointing that neither will be release for circulation and that there will never be a new portrait pound coin with the Royal Sheidl reverse.

So it is only 2008, 2012, 2013, 2014, and 2015 (old portait) that the Royal Shield set can be completed from circulation.   2013 is a bit of challenge to complete from circulation due to the lower mintage 1 pound and 50 pence for that year with the Royal Shield reverse.

The Royal Mint is not helping themselves in attracting and keeping young collectors since a few i know stopped when they could not get the sets from circulation for each year from 2008.

They seem to forget that these young collectors will be the ones buying coins from them in the future as they get older.

Ken

eurocoin

Well I think this decision isn't that strange at all. First of all they make a nice amount of money from the sales of 1 pound coins for the Coin Hunt Folders (More people will decide to complete their folder if it's a coin they have to buy rather than a medal). Secondly the round 1 pound coins will be withdrawn from circulation gradually starting in 2017. So coins they mint in 2016 will than again be withdrawn in 2017 which makes no sense, for sure if there are enough coins in circulation already.

andyg

Quote from: kena on December 28, 2015, 09:25:44 PM
So it is only 2008, 2012, 2013, 2014, and 2015 (old portait) that the Royal Shield set can be completed from circulation.   2013 is a bit of challenge to complete from circulation due to the lower mintage 1 pound and 50 pence for that year with the Royal Shield reverse.

It's only in recent times that the mint has issued each denomination for each year.
The year I started collecting, 1986, we only had new 1p, 2p and £1 coins to watch out for....
always willing to trade modern UK coins for modern coins from elsewhere....

kena

Under the same logic, the Royal Arms 1 pound that was made in the 2nd half of 2015 did not have to be made as well since by that time they knew the 1 pound was changing in 2017.

Was there a shortage 1 pound coins going into 2015 that required two different pound coins for 2015?

According to the mint, as of March 31st 2014, there were 1,553 million pound coins in circulation.

The mint made a big deal about completing the Royal Shield set from circulation, so it would have been nice for them to follow thru on that.  Did we really need so many different Olympic 50 pence coin designs?

Alan71

#162
Quote from: andyg on December 28, 2015, 09:59:15 PM
It's only in recent times that the mint has issued each denomination for each year.
The year I started collecting, 1986, we only had new 1p, 2p and £1 coins to watch out for....
Yes, only from 2000 onwards has every denomination been issued for circulation each year (though even since then, some standard shield versions of the 50p weren't issued).  Prior to 2000, there were only five years in the decimal era where all denominations were issued, these being 1977, 1979, 1980, 1992 and 1997 (1992 was a difficult one as only 109,000 commemorative 50p coins were issued).

The now over-priced year sets are worth getting again because of the possibility of coins not being issued for circulation.

andyg

The numpties were all over ebay when the mint announced that they were only going to issue 100 £2 WWI with the old portrait for circulation, for a while prices went up - but the mint just made more ;D
always willing to trade modern UK coins for modern coins from elsewhere....

Alan71

Not sure if previous coin re-issues are relevant to this one, but prior to decimalisation in 1971, the last pre-decimal coins were dated 1967 (but still produced after that year).

5p coins dated 1989 were issued for circulation despite the new smaller version having completely replaced them by the end of 1990.

There was a surplus of both 10p and 50p coins prior to their reissues in 1992 and 1997 respectively. The last large size 10p coins were dated 1981 and the last major large 50p issue was dated 1983 (with a small 1985 issue and commemorative issues in 1992 and 1994).