With the death of Queen Elizabeth II, many changes will need to implemented and one main one will be our currency which currently bears Her Majesty’s profile and has done for the last 70 years.
Preparations are already being made to get the face of King Charles III on our coins and banknotes, although it could be a while yet until they are in circulation. Her Majesty was the longest reigning sovereign to ever appear on British money after she ascended to the throne in 1952 following the death of her father, King George VI.
It won’t be long, though, until currency with the Queen’s image will be phased out and as it does disappear, it begs the question: which coins are worth keeping that could be valuable in the future? Britannia Coin Company coin expert Jon White reveals the coins that are worth keeping for a rainy day in a few years, reports the Liverpool Echo.
Which coins are the most rare and valuable?
According to Jon, the rarest and most valuable coin of Queen Elizabeth II is the 2009 Kew Gardens 50p coin which currently has a value of £170. He said: “This coin was released in 2009 to celebrate the 250th anniversary of the gardens .
“Only 210,000 were put into circulation. This coin could easily be confused with the 2019 version of the design, so it’s important to check the date on yours if you happen to find one in your purse.”
The second most valuable Queen Elizabeth II coin is the rare mule gold proof Double Sovereign £2 coin, struck with the wrong obverse. The 22 gold carat coin was released in 1994 and it celebrates 300 years of the Bank of England with a special reverse inspired by the original Britannia seal of the UK’s central bank.
According to Jon, this rare find has a current value of £5,000 as the “1,000 offered in this limited edition, individually boxed presentation were struck with an obverse missing the the denomination”.
Finally, the third most valuable coin showing the late Queen’s portrait is the commemorative Edinburgh £1 coin, which was minted in 2011. Jon added: “Less than one million coins with this design are available, and it’s already selling for over 30 times its original value.”
How much will these rare and valuable coins be worth in 10 years' time?
Most coins tend to increase in value as time passes, and some of these rare finds could be worth a lot of money in 10 years’ time. The Kew Gardens coin could be worth at least £230 in the next decade due to its rarity.
Jon said: “While already valuable, the value will only continue to increase in the years to come as currency featuring Queen Elizabeth II’s portrait is phased out. I’d expect its value to reach at least £230 in the next decade.”
The mule gold proof Double Sovereign £2 coin may currently be worth a whopping £5,000, but in 10 years’ time its value could double, making owners £10,000. And if you are one of the lucky owners of the commemorative Edinburgh £1 coin, you could bag yourself some cash for the rare find.
Jon explained: “The coins are already out of circulation due to the change in shape of £1 pieces. But given that they also feature Queen Elizabeth II’s portrait they could be worth at least £65 in 10 years’ time.”
When will Queen Elizabeth II coins be phased out?
The phasing out process of the coins bearing the Queen’s portrait is set to begin soon following her death on September 8. The Bank of England confirmed in a statement that the current coins and notes will remain legal tender for now, but plans for the transition to King Charles III’s image will be announced following the nation’s mourning period.
Jon added: “It’s sad to think that UK coins with Queen Elizabeth’s portrait will be gradually phased out. But given that there are approximately 29 billion coins in circulation this is likely to be a slow process.
“It is likely that the coins which are already rare will become even more sought after in the years to come, as well as those issued in the first and final years of Her Majesty’s reign. The more common coins won’t become rare for many years, so you have plenty of time to collect some as a memento.”
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