Three days ago, the queen died at Balmoral castle. Since then, coins (and people) have gone berserk. For example, last week no-one was even interested in a 2022 £1 coin. Now they are an official collector’s status symbol it would seem lol. Some coins have doubled in price overnight and some have even quadrupled (or more) in value. You don’t believe me? Try looking up the price of a ‘2022 Annual Coin Set’ right now….
So, why is this? What is creating this sudden resurgence of interest in coins?? The mass buying??
There are a few reasons actually. Of course, the rumour mill has been busy (as it is in the wake of any national or international event) and many people are concerned about what will happen to money with the Queens head on it. It would appear that a few people are convinced that it will suddenly disappear in a puff of smoke or something. The reality is, it will be phased out gradually just as it was last time we had a change of monarch. So, no reason to panic hahahha.
Another driving force behind this massive increase in coin buying is people want to fill all empty gaps in their collection with coins that the queen is on. But….. it is the same thing guys….. these coins are not going to magically vanish or anything!
There are also a few releases (the more tasteful ones you will notice) that are of special interest right now. Ones commemorating her jubilee for example, such as the limited edition five pound coin with an edge inscription. Now releases such as this will disappear. And that is simply because most people who are buying them are purchasing them to keep and not to resell. They are a piece of history which capture a key event – one we have actually witnessed rather than learning about from crusty old history books. This is also the most understandable reason for the panic buying so far.
Some things are also left unfinished at the moment. One of these is the ‘Lunar’ five pound coin series with four of the (12??) releases bearing the portrait of Elizabeth…. so the remainder will feature our new king… which will be strange. The ‘Pooh’ coins just managed to make it to the finish line. If they hadn’t, then the last of these would have been a Charles one!
I don’t believe that standard Queen effigy coins will be of any enormous value in the years to come. But then again I have never experienced the death of a monarch before so I may be entirely wrong. And all of those people who are frantically buying up as much as they can could end up having the last laugh while I have missed out! We will see….
© Article copyright Mik Smith 2022
MAIN IMAGE – reblogged from tatler.com
Some interesting point, but a great picture of her Highness. Well done.
Thank you very much. Yes, I wanted to use a nice picture of her.