Stack up on KCIII numismatics.

[paulmerton]

1 hour ago, GoldDiggerDave said:

Slightly off topic the bits of coins I get in circulation now are noticeably in better condition 2018/2019 still have full lustre, just goes to show either they are all sitting in the cash centres and/or once in circulation they are not exchanging hands as frequently as they once did.

There are still £2 coins from a few years ago in the mint's long store that have never made it out to a cash centre due to lack of demand.

[GoldDiggerDave]

7 minutes ago, paulmerton said:

There are still £2 coins from a few years ago in the mint's long store that have never made it out to a cash centre due to lack of demand.

I’ve been talking about cashless on another thread, I don’t get change anywhere closes to what I did only a few years ago and I bet it’s the same for most people.     
 

Bet there’s next to no demand from the cash centres for the RM to produce any more coinage. 
 

It could be years (if at all) at this rate before we regularly see KCIII on all our denominations of coins. 
 

 

[GoldDiggerDave]

24 minutes ago, SidS said:

The problem is that coins which aren't rare can become seldom seen in circulation because people keep taking them out and holding onto them.

The 1988 £1 coin, the 1997 £2 coin, the alphabet 10ps, the Britannia £2 coin (I've never seen one in change), various commem 50p and £2 coins that you rarely if ever see these days even though they were minted in the millions.

Bronze/Copper plated coinage is not that common anymore (thankfully), mostly the preserve of the pensioner age group. The youth of today don't even want 10p or 5p coins.

I did try and get alphabet in circulation, impossible……and I was going though £1000’s 10p cash bags.   I got almost all of the £2 but had to force the issues with £500 bags at a time…….this was a few years ago and the main bank only held  £2,000 in £2…..I know this for a fact as I took them all🤣.  
 

 Coinage as a practical medium of exchange is almost dead, car parks,  vending machines etc are all going cashless.   Bet it cost more than 1p in energy alone to mint a 1p coin without even factoring in material and distribution costs. 

[Olivard]

Most of the coins in use today are 30 years old or less and none pre-date 1971 so it's hardly a surprise that they need replacing less than say in the 1960s, when you often got copper coins (mostly well worn and flat) with Victoria and Edward VII on.

[SidS]

18 minutes ago, GoldDiggerDave said:

I did try and get alphabet in circulation, impossible……and I was going though £1000’s 10p cash bags.   I got almost all of the £2 but had to force the issues with £500 bags at a time…….this was a few years ago and the main bank only held  £2,000 in £2…..I know this for a fact as I took them all🤣.  
 

 Coinage as a practical medium of exchange is almost dead, car parks,  vending machines etc are all going cashless.   Bet it cost more than 1p in energy alone to mint a 1p coin without even factoring in material and distribution costs. 

They should demonetise the 1p and 2p coins, they are both useless and almost worthless (except perhaps in melt value of the pre-1992 ones.)

There's always the argument that low value coins stop inflation ramping up as they give pricing points which wouldn't exist if removed.

However, inflation has been rampant and the price rises have been in units far above 1p and 2p levels. These coins have been totally overtaken by inflation, that to most people the 5p coin is the lowest regularly encountered coin both in actual change, vending machine usage and in pricing points (beyond the .99 prices).

The 1p has for many years been worth less (when inflation adjusted) than the 1/2p was when it was culled in 1984.

There is indeed a stockpile of 2p and £2 coins in the vaults from 2017 awaiting release, so many infact that they weren't going to issue any more for 10 years!

So yes, the Charles coins are a long way off from being even common, let alone more common that Elizabeth II ones.

Edited February 7 by SidS

[paulmerton]

15 minutes ago, SidS said:

There is indeed a stockpile of 2p and £2 coins in the vaults from 2017 awaiting release, so many infact that they weren't going to issue any more for 10 years!

No 2017-2020 dated £2 coins were ever minted for circulation so they must be from other years. I've heard rumours of 2016 Shakespeare and Britannia £2 still being in there, but the 2021 and 2022 Britannias most likely are for sure.

I can't imagine there being many 2017 dated 2ps in the long store either if they felt the need to mint 117,700,000 new ones in 2021. Part of that was apparently due to the increased usage in games arcades!

 

[GoldDiggerDave]

31 minutes ago, SidS said:

They should demonetise the 1p and 2p coins, they are both useless and almost worthless (except perhaps in melt value of the pre-1992 ones.)

There's always the argument that low value coins stop inflation ramping up as they give pricing points which wouldn't exist if removed.

However, inflation has been rampant and the price rises have been in units far above 1p and 2p levels. These coins have been totally overtaken by inflation, that to most people the 5p coin is the lowest regularly encountered coin both in actual change, vending machine usage and in pricing points (beyond the .99 prices).

The 1p has for many years been worth less (when inflation adjusted) than the 1/2p was when it was culled in 1984.

There is indeed a stockpile of 2p and £2 coins in the vaults from 2017 awaiting release, so many infact that they weren't going to issue any more for 10 years!

So yes, the Charles coins are a long way off from being even common, let alone more common that Elizabeth II ones.

Understand what you’re saying, but think about the cost? Public announcements to say they are coming out of circulation, re-calibrate every single vending machine not to accept ones and two…….. and then what do the cash centres do?

would you want to recall 50 years worth of change? They would have billions of coins that would cost more to handle a meltdown than they are worth. 
 

And do this all again with 5p’s in a few years? 
 

best to do nothing and leave change to it’s sad death. 

 

 

Edited February 7 by GoldDiggerDave

[SidS]

1 minute ago, GoldDiggerDave said:

Understand what you’re saying, but think about the cost? Public announcements to say they are coming out of circulation, re-calibrate every single vending machine not to accept ones and two…….. and then what do the cash centres do?

would you want to recall 50 years worth of change? They would have billions of coins that would cost more to handle a meltdown than the worth. 
 

And do this all again with 5p’s in a few years? 
 

best to do nothing and leave change to it’s sad death. 

 

 

No vending machines to my knowledge accept 1p and 2p coins, they haven't done for twenty years.

It must cost the banking sector  a lot to handle them though.

They don't actually have to collect them in, they could simply set a date ten years in the future for them to cease being legal tender and just leave them to vanish. Very few people would bother handing them in anyway.

Charities perhaps being the exception.

 

12 minutes ago, paulmerton said:

No 2017-2020 dated £2 coins were ever minted for circulation so they must be from other years. I've heard rumours of 2016 Shakespeare and Britannia £2 still being in there, but the 2021 and 2022 Britannias most likely are for sure.

I can't imagine there being many 2017 dated 2ps in the long store either if they felt the need to mint 117,700,000 new ones in 2021. Part of that was apparently due to the increased usage in games arcades!

 

Yes it must have been 2016. I read it a few years back now.

Gaming arcades always want 2p coins, that's where all mine went.

[GoldDiggerDave]

Just now, SidS said:

No vending machines to my knowledge accept 1p and 2p coins, they haven't done for twenty years.

It must cost the banking sector  a lot to handle them though.

They don't actually have to collect them in, they could simply set a date ten years in the future for them to cease being legal tender and just leave them to vanish. Very few people would bother handing them in anyway.

Charities perhaps being the exception.

 

Self service machines in the supermarket? 

It would cost millions to implement to not achieve very much.  
 

would be cheaper to give everyone £3 payment for their change and declare it null and void the day after. 

 

[SidS]

1 minute ago, GoldDiggerDave said:

Self service machines in the supermarket? 

It would cost millions to implement to not achieve very much.  
 

would be cheaper to give everyone £3 payment for their change and declare it null and void the day after. 

 

I never use self service machines, it's counter service or I walk out! 😁

[Olivard]

Depends on where you do your shopping.

Supermarkets package fruit and fresh meat and fish counters have disappeared. 

I buy from the market. More choice. Better prices. They sell by the weight and cash is the main payment. See a lot of low value coins as a result.

[refero]

assuming KCIII's reign wont be a long one (and that there will not be "many" special anniversary to be celebrated with special design/reverse) my bet would be on the Coronation Sotd sovereign (1250 total mintage) and the 5 coins coronation set (1050 total maximum mintage, and the only chance to get the proof 5 sovereign); 

Memorial (2022) and coronation (2023) sovereigns stands with a total mintage of 20.000; and thousands and thousands of them already slabbed with PF70 label. Not exactly scarce ones (not entering into the appealing or not appealing debate).

The 2024 proof sovereign has indeed a much lower mintage (maximum 7500 if i m not mistaken), but its the standard sovereign (something like QEII's IRB fourth design), likely to always be on standard years..

Edited February 8 by refero