When the Royal Mint strikes 1,250 sovereigns on Saturday, it heralds the final release of coins in its commemorative collection to mark the Coronation of King Charles III.
There has already been a rush on these Coronation Day sovereigns, 5oz gold coins and silver coins weighing 1kg, with collectors pre-ordering but there are still a handful worth investing in.
So whether you are a keen numismatist, a royalist or just fancy starting a collection to see if they might be worth a bit in years to come, here’s what to look out for.
The 22-piece range includes £5 coins, 50p pieces and gold sovereigns.
But, according to Jon White, a coin expert at the Britannia Coin Company, based in Swindon, there are three standout coins that will be highly sought after. These are the silver 50p piece, sovereign and 5oz silver coin.
Coining it in: Royal Mint’s The 22-piece range includes £5 coins, 50p pieces and gold sovereigns
It’s the first time a 50p has been minted to commemorate a coronation, and only a limited edition of 12,500 silver coins is being released into a flourishing collectors’ market. They will cost £59.50 each.
‘The 50p collector’s market in this country is hugely popular and this coin is going to be the most successful item for the vast majority of collectors,’ says Mr White.
A silver 50p piece released by The Royal Mint to mark the Queen’s Jubilee also sold last year at £59.90. It is now on sale for £245 with Britannia Coin Company.
For high-value collectors, Mr White suggests the £850 limited-edition sovereign will be the most in-demand piece in the collection as it could gain value in the long term.
Just 1,250 of these coins will be minted and they will come with a certificate of authentication confirming they were struck on May 6.
‘This is a very low mintage sovereign, meaning they will sell out in the blink of an eye,’ says Dominic Chorney, coin specialist at London auctioneer AH Baldwin and Sons. ‘If you are able to purchase one of these coins, you will be very lucky.’
The head side shows an image of St George, the patron saint of England, which has appeared on coinage for hundreds of years.
‘This coin has been issued by every monarch almost every year since King George III. The design is pretty much unchanged for 200 years,’ says Mr Chorney.
Coins bearing this image can be very valuable, especially if released during a historic celebration.
For example, AH Baldwin and Sons has for sale a Queen Victoria 1887 Jubilee £5 coin bearing this image for £4,000.
There were only 1,500 silver coins (5oz) minted for the collection and these have already sold out at £480 each.
Mr White says: ‘Collectors are always looking to invest in precious metals, and as this is a large coin, weighing 156g, it will be sought after in the coming years.’
Any disappointed collectors can now find one up for resale with the Britannia Coin Company for £595.
WHAT ELSE CAN I BUY?
The most expensive item is a gold coin weighing a stonking 1kg, which can be yours for £77,565.
Other items in the collection include a £5 commemorative coin in silver and gold available from £14.50 and in two proof ounces and a variety of weights. Prices vary between £11 and £1,220.
CHARLES IN YOUR CHANGE
Later this year, The Royal Mint will release five million Coronation day 50p coins into circulation via post offices.
The coins will feature the image of Westminster Abbey on one side and on the other, the same uncrowned portrait of the King seen on the 50p pieces that went into circulation last year.
‘The 50p released into circulation will become popular just like the collector’s items,’ says Mr White.
King’s ransom: The 1kg gold coin, above, will set you back £77,565. Middle, the silver 50p and, top, the £850 sovereign
Added to this is the traditional lure of coins as cash becomes less popular with so many transactions done by debit or credit card. ‘People will put these coins aside as mementoes so within a very short space of time the number that appear in circulation will reduce,’ adds Mr White.
This may increase their value slightly, although with five million in circulation they are unlikely to reach the value of rarer coins.
For example, just 210,000 coins with a face value of 50p bearing the image of the pagoda at Kew Gardens were released in 2009. They now sell for up to £160.
TAX FREE BONUS
As the commemorative coins are of such high quality, they are considered to be ‘investment-grade’ and are exempt from VAT on purchase.
Unlike investing in gold, you will not be required to pay capital gains tax if they increase in value and you sell them, because they are considered legal tender.
CROWNING GLORY
The collection is also significant as it is one of the few times in hundreds of years that a King has been depicted wearing a crown on UK coinage, says Mr Chorney.
‘We think these might be the first coins of an English King wearing a crown since the last King Charles,’ he says. ‘If this is the only series of coins in which the monarch is wearing a crown, then they will definitely be very valuable in future.’
A PIECE OF HISTORY
It is the sentimental value of the coins that makes them so collectable, according to Alex Siddons, of coin website Change Checker. ‘People love to buy coins any time there is a big Royal occasion as it makes them feel part of the event,’ she says.To buy from the collection, visit royalmint.com or call 0800 0322 152.
