Calling all Numismatists

If it ain't amber or ain't football then it belongs here!
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pembsexile

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Re: Calling all Numismatists

Postby pembsexile » December 13th, 2020, 10:09 am

Not a ‘coin’ story that usually appears on here but a money story anyway. Recent news has come from the Bank of England that £50 billion worth of banknotes are missing somewhere. This accounts for 75% of all banknotes issued. So, only 25% of all banknotes issued are in circulation at the moment. Apparently they are in the shadow economy. Hmmm.

The demand for banknotes has never been higher but their use is declining. Seems strange to me. Where is it all stored?

Other countries have even worse problems. Only 15% of all US banknotes issued are in circulation. Estimates say that 80% of all 100 dollar bills are stored overseas and never seen in America. The EU has stopped issuing 500 Euro bills as they are used by hoarders and others for storing. You can still get a 100 or 200 Euro bill though. The highest denomination we have is £50. I think on the evidence we see, it will stay that way.

On a personal note, I am glad I don’t normally collect banknotes, I will stick to cash. Coins are simpler. There are enough problems with counterfeiting there but at least the denomination is low. If you take a hit on a £20 or £50 it is a bit more painful than a hit on a 50p or £2 coin.
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phil_in_npton

Re: Calling all Numismatists

Postby phil_in_npton » December 13th, 2020, 1:20 pm

Good Afternoon Mike

What’s always puzzled me is who decided how much money should be in the world?
In the beginning there was no money, now there is loads, it must have increased gradually so who decides? And how?

Surely banks/ governments/ countries can’t just produce banknotes as they feel like it?

I know the turnaround of money keeps economy’s going but who “owns” the actual money!

Also, with the pandemic meaning companies/businesses are starved of income then surely those not spending it are a lot better off?

Just puzzling!

Phil in Npton
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DeePeeNCAFC

Re: Calling all Numismatists

Postby DeePeeNCAFC » December 14th, 2020, 10:36 pm

Hi Pembs. Hope you can advise on this please - my local kebab shop has just given me an unusual £2 coin in my change. It's an 1807 Abolition of the Slave Trade coin. I Googled it as I've not seen one before and there were a few articles about misprinted versions, and mine appears to fit the description of one misprint type, I think.

On the reverse, the beading (dots) which are supposed to circle the Queen's head stop short and only cover about half a circle.

I'd be interested to hear your views on the scarcity, or otherwise, of this coin please. It's a 2007 version in average condition.

Many thanks
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pembsexile

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Re: Calling all Numismatists

Postby pembsexile » December 15th, 2020, 5:46 pm

DeePeeNCAFC wrote:Hi Pembs. Hope you can advise on this please - my local kebab shop has just given me an unusual £2 coin in my change. It's an 1807 Abolition of the Slave Trade coin. I Googled it as I've not seen one before and there were a few articles about misprinted versions, and mine appears to fit the description of one misprint type, I think.

On the reverse, the beading (dots) which are supposed to circle the Queen's head stop short and only cover about half a circle.

I'd be interested to hear your views on the scarcity, or otherwise, of this coin please. It's a 2007 version in average condition.

Many thanks


Hi DeePee,

There are two versions of this coin. The BU version which has a mintage of 8,668. You will know if it is BU as those coins are for collectors and not for general circulation. Then there is the circulated version with a mintage of 8,445,000. This circulated coin is therefore not very rare at all.

It is quite common unfortunately for the beading around the Monarchs head to be either out of alignment or not to be seen all the way around. This is due to the rapidity of the minting process and the coin not actually in the die in the perfect position when it is struck. This particular coin is probably the one coin with the most reported errors. They are not actual errors though, just a ‘not perfect’ strike. Hope this makes sense.

If you look on eBay you will see examples of what I mean.
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mad norm

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Re: Calling all Numismatists

Postby mad norm » December 15th, 2020, 6:07 pm

How was the kebab?
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DeePeeNCAFC

Re: Calling all Numismatists

Postby DeePeeNCAFC » December 16th, 2020, 12:20 am

mad norm wrote:How was the kebab?


Just how I like my dream women - hot and saucy. Or perhaps closer to the truth - exactly like the women I do end up with, fatty and bad for my health.

Thanks for the update and expert advice Pembs. Seems I won't be retiring soon after cashing in on my not-so-rare £2 coin then.
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pembsexile

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Re: Calling all Numismatists

Postby pembsexile » December 19th, 2020, 9:59 am

DeePeeNCAFC wrote:
mad norm wrote:How was the kebab?


Just how I like my dream women - hot and saucy. Or perhaps closer to the truth - exactly like the women I do end up with, fatty and bad for my health.

Thanks for the update and expert advice Pembs. Seems I won't be retiring soon after cashing in on my not-so-rare £2 coin then.


A bit of additional info’ for you.

If you look on eBay right now and type in ‘abolition of slave trade’ you will see a seller offering one of these coins for sale. If you look at the picture you will see that the beading around the Monarchs head is missing between 8 o’clock and 11 o’clock. It is due to the coin not being struck perfectly as I had previously mentioned. It is most definitely not a misspelt coin. The seller is asking for £2,500 ffs. Please anyone, do not be tempted at all. The coins is worth about £3/4 pounds.

Another seller is asking for £300 for this exact same coin as apparently the wording around the side is ‘upside down’. Complete and utter nonsense. The wording of the side letters is a completely random process. Do not be fooled.

I am compiling a list of all these supposed ‘error’ coins that are being offered for sale. Do not be fooled. I am also compiling a list of all the genuine ‘mule’ coins that are collectible and have been verified as genuine by the Royal Mint. We have discussed a few of these coins on here previously. The list won’t be complete but it will be a good guide and offer advice in how not to be ripped off when buying coins.
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neilcork68

Re: Calling all Numismatists

Postby neilcork68 » December 26th, 2020, 10:06 am

Happy Christmas to me

Got a Kew Garden 50p in my change on Christmas Eve. :cheers: :cheers: :cheers: :cheers: :cheers: :cheers: :cheers: :cheers:
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pembsexile

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Re: Calling all Numismatists

Postby pembsexile » December 27th, 2020, 8:08 am

neilcork68 wrote:Happy Christmas to me

Got a Kew Garden 50p in my change on Christmas Eve. :cheers: :cheers: :cheers: :cheers: :cheers: :cheers: :cheers: :cheers:


Congratulations. If that is a genuine one, well done. Don't want to be a party pooper, but, there are a lot of fakes out there. Also as only 144,000 were minted, most have been taken out of circulation by now.

Ways to spot a Kew Gardens fake;

The top of the pagoda has a pointed end. On a real Kew, the top of the pagoda merges into the edge of the coin.
The front end of the Queen neckline should point towards the letter P in the word pence, not towards the letter E.
The designers initial IRB under the Monarchs neck are smaller than they should be.
The coin should have signs of wear and tear and not look 'frosty' and have raised relief.
The details on the Queens crown, mouth and nose should be clear and not blurred.

Hope it is genuine but as you know, the Royal Mint do a free service to check if the coin is real or fake. You could put it on eBay if it is real. They are going for about £150/160 at the moment. Crazy.
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neilcork68

Re: Calling all Numismatists

Postby neilcork68 » December 29th, 2020, 8:35 pm

pembsexile wrote:
neilcork68 wrote:Happy Christmas to me

Got a Kew Garden 50p in my change on Christmas Eve. :cheers: :cheers: :cheers: :cheers: :cheers: :cheers: :cheers: :cheers:


Congratulations. If that is a genuine one, well done. Don't want to be a party pooper, but, there are a lot of fakes out there. Also as only 144,000 were minted, most have been taken out of circulation by now.

Ways to spot a Kew Gardens fake;

The top of the pagoda has a pointed end. On a real Kew, the top of the pagoda merges into the edge of the coin.
The front end of the Queen neckline should point towards the letter P in the word pence, not towards the letter E.
The designers initial IRB under the Monarchs neck are smaller than they should be.
The coin should have signs of wear and tear and not look 'frosty' and have raised relief.
The details on the Queens crown, mouth and nose should be clear and not blurred.

Hope it is genuine but as you know, the Royal Mint do a free service to check if the coin is real or fake. You could put it on eBay if it is real. They are going for about £150/160 at the moment. Crazy.




100% genuine coin that I have no intention of selling.

I'm getting into this now , I have ordered Books/Albums on line to save coins of every type.

Got the full set of Paddington coins already. (50p's) and the wife bought me the full set of Peter Pan coins for Christmas

My kids are calling me a pain as I am checking all their coins now to find 'rare' and 'collectable' coins of all denominations :lol:
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Willthiswork

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Re: Calling all Numismatists

Postby Willthiswork » December 29th, 2020, 8:49 pm

Had a HMS Belfast £2 coin today
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DeePeeNCAFC

Re: Calling all Numismatists

Postby DeePeeNCAFC » December 30th, 2020, 9:43 am

Willthiswork wrote:Had a HMS Belfast £2 coin today


I'll swap it for a Peter Rabbit 50p piece!
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DeePeeNCAFC

Re: Calling all Numismatists

Postby DeePeeNCAFC » December 30th, 2020, 9:44 am

Well done Neil. Can't believe anyone would all you "a pain" though!
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pembsexile

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Re: Calling all Numismatists

Postby pembsexile » December 30th, 2020, 10:11 am

Willthiswork wrote:Had a HMS Belfast £2 coin today


I assume you mean the £2 WW1 Royal Navy coin. This commemorates the RN actions in the war. The edge inscription reads ‘The sure shield of Britain’ in capitals. There are 2 versions of this coin both released in 2015. One has the 4th portrait of the Queen with a mintage of 39,009. This is rare and is only found in annual sets or as a single brilliant uncirculated coin. The other version is the normal circulated coin which has the 5th portrait of the Queen and has a mintage of 650,000. Still reasonably rare and goes for approx £6 on eBay.

There is a perceived error with some of these coins. On the official version there is no flag at the top of the mast. However, on some coins it appears that there is. This was due to a piece of metal finding its way in to the die and giving the impression that a flag was atop the mast. On ‘usual’ coins there is no apparent flag. Some people are interested in this variant and will pay a little more for it.

It isn’t HMS Belfast by the way. That wasn’t commissioned until 1939. It is a good coin to have in your collection and is 10th on the change checker scarcity list out of 37 coins featured.
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pembsexile

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Re: Calling all Numismatists

Postby pembsexile » December 31st, 2020, 10:05 am

neilcork68 wrote:
pembsexile wrote:
neilcork68 wrote:Happy Christmas to me

Got a Kew Garden 50p in my change on Christmas Eve. :cheers: :cheers: :cheers: :cheers: :cheers: :cheers: :cheers: :cheers:


Congratulations. If that is a genuine one, well done. Don't want to be a party pooper, but, there are a lot of fakes out there. Also as only 144,000 were minted, most have been taken out of circulation by now.

Ways to spot a Kew Gardens fake;

The top of the pagoda has a pointed end. On a real Kew, the top of the pagoda merges into the edge of the coin.
The front end of the Queen neckline should point towards the letter P in the word pence, not towards the letter E.
The designers initial IRB under the Monarchs neck are smaller than they should be.
The coin should have signs of wear and tear and not look 'frosty' and have raised relief.
The details on the Queens crown, mouth and nose should be clear and not blurred.

Hope it is genuine but as you know, the Royal Mint do a free service to check if the coin is real or fake. You could put it on eBay if it is real. They are going for about £150/160 at the moment. Crazy.




100% genuine coin that I have no intention of selling.

I'm getting into this now , I have ordered Books/Albums on line to save coins of every type.

Got the full set of Paddington coins already. (50p's) and the wife bought me the full set of Peter Pan coins for Christmas

My kids are calling me a pain as I am checking all their coins now to find 'rare' and 'collectable' coins of all denominations :lol:


Nice one Neil, you seem to be getting into it in a big way. Good to see. Careful though, it is addictive although you seem to be working that one out yourself. :cheers: The 20p coins are a bloody nightmare. Having to check every one of them. Does my head in.

As you are doing albums now, can I make a suggestion. The Beatrix Potter 50p series is good to collect. 14 coins in all from 2016 - 2020. Every one of them is circulated and some (Jemmima Puddleduck) are rarer than others. That one goes for over a tenner on eBay. The Royal Mint do yearly and complete albums for these circulated coins. You can also get them from private companies who advertise on eBay.

If you want to get really serious, get the brilliant uncirculated or even proof examples of these coins. Pricey but good to collect. I only get the brilliant uncirculated coins. Can’t afford to get every coin in proof or I would be destitute! They (brilliant uncirculated) cost £4.50 from Change checker and come in a sealed wrapper. They even do a decent album to go with it as well. The Royal Mint version costs £10 and comes in a fancy package. If you do get these versions do not even take them out of their wrappers. They are ‘collectible’ versions which should increase in value in future years. When collectors buy them they look for the original packaging to ensure the quality of the coin inside. Whomever you decide to give the coins to in future years will thank you for it :grin: .

Good luck :cheers:
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