Author Topic: Why the Royal Mint stopped making 20p coins  (Read 186 times)

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Offline <k>

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Why the Royal Mint stopped making 20p coins
« on: May 23, 2019, 03:48:15 PM »
From the BBC.

Why the Royal Mint stopped making 20p coins - BBC News



Extract:

It is the job of The Royal Mint to literally make money - and yet in 2017, it did not produce a single 20p or £2 coin for general circulation.

Offline Henk

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Re: Why the Royal Mint stopped making 20p coins
« Reply #1 on: May 24, 2019, 10:53:28 AM »
20 p coins of regular type are included in the 2017 sets with date 2017, so mintage was not exactly 0. These coins are legal tender and can circulate so they should be included in the number of circulating coins issued.

Offline eurocoin

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Re: Why the Royal Mint stopped making 20p coins
« Reply #2 on: May 24, 2019, 11:00:50 AM »
It is a low quality article with a bit of a clickbait title. All of the information in it was already known for a long time. I assume you may have wanted to jump on the mintage figure bandwagon but that has not worked out well. I am slightly disappointed.
« Last Edit: May 24, 2019, 11:33:03 AM by eurocoin »

Offline <k>

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Re: Why the Royal Mint stopped making 20p coins
« Reply #3 on: May 24, 2019, 12:32:42 PM »
I assume you may have wanted to jump on the mintage figure bandwagon but that has not worked out well.

No. What interested me was this part:

The riddle is partially answered by the introduction of the 12-sided £1 coin.

UK consumers emptied jam jars full of saved coins before shops stopped accepting the old round pounds. As a result, they also flooded shops and banks with all their other coins.

It meant, for a year at least, there were plenty of 20p and £2 coins to go around and no more were needed.


I had certainly noticed that some unexpected things changed after the introduction of the 12-sided pound coin. For a few years after the introduction of the circulating 2 pound coin, that coin was not often found, but then it became readily available.  The other factor was that in recent years circulating commemoratives - 50p and 2 pound coins - were found in profusion. Then, after the introduction of the 12-sided pound, both those things suddenly seemed to stop. That was my experience, anyway. However, just this year the number of 2 pound coins and circulating commemoratives I have received in change has increased markedly - I received my first Beatrix Potter 50p (Benjamin Bunny), as well as some Olympics 50p coins that I had never received before.

So, your assumption is wrong.  :P  Usually Alan71 has been very good at noticing and analysing such movements in circulation coins, so I await his comments.

Offline chrisild

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Re: Why the Royal Mint stopped making 20p coins
« Reply #4 on: May 24, 2019, 12:41:07 PM »
Don't really have any in-depth insight here ;) but to me it seems to be pretty normal that not every denominations is minted every year. Take the German 10 ct coin for example - between 2007 (new map reverse) and 2016, not a single piece was minted for circulation. Roughly the same for 50 ct and Ä1 coins in those years: made for sets only ...

Christian

Offline eurocoin

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Re: Why the Royal Mint stopped making 20p coins
« Reply #5 on: May 24, 2019, 12:55:15 PM »
That is old news too. They took that excerpt from the Royal Mint's annual report that was released at the end of last summer. It was one of the Royal Mint's excuses for its low profit etc.

The Royal Mint is still doing badly. Directors continue to be fired and replaced regularly.

Offline Alan71

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Re: Why the Royal Mint stopped making 20p coins
« Reply #6 on: May 24, 2019, 07:00:51 PM »
20 p coins of regular type are included in the 2017 sets with date 2017, so mintage was not exactly 0. These coins are legal tender and can circulate so they should be included in the number of circulating coins issued.
Coins in sets never do count for circulation figures, and never have done.  Obviously sets can be broken up and the coins used, but anyone doing so would be quite stupid.  With sets containing 20p coins going for a minimum of £55 these days, buyers would be well-advised to keep them intact.

<k> is right, lots of old coins now seem to be in circulation again, and this is across all of the denominations.  I regularly get 1970s 1p and 2p in change, in fact, I spent one today.  A few years ago it seemed like almost every coin received was a new one.  Now itís the opposite. 

Itís slightly significant for the 20p as the only previous date not issued for circulation was 1986.  Still no big deal though.  The headline of that article was ridiculous.  I think it was briefly the BBC News appís most-read story.  The silly headline almost implies theyíve stopped making the denomination altogether.