Last week Canada became the latest country to bid farewell to its penny or 1 cent coin. Australia, Brazil and Sweden have already ditched theirs – the question is will the UK be next?
With over 11 billion in circulation according to latest Royal Mint figures, the humble penny accounts for nearly 40% of all Britain’s circulating coins. It is in fact our most common coin but when it costs more than a penny to make a penny, surely its days must be numbered?
Facing an uncertain future – Britain’s most common coin
Opinion is divided
Those in favour of getting rid of it say you can’t buy anything for a penny these days. True – the penny chews of my youth have now gone from our sweet shops. You can’t even ‘spend a penny’ anymore (that’ll cost you as much as 30p for the privilege). Put simply, 1p coins have no other function but to weigh down our purses and pockets.
But, in these tough times, every penny counts. Those against the move say there are plenty of people that still need the 1p and other small denomination coins. How many of us pop our loose change in charity collecting boxes when we’re out and about? They may be small amounts but they all add up.
A future collector’s item?
So it is probably fair to say that keeping hold of your old pennies is unlikely to make you rich. However, when they do finally disappear from our change (as is almost certain at some point), they are certain to remain an important part of Britain’s numismatic heritage for centuries to come.
Penny for them
Ultimately the “Master of the Mint” Chancellor George Osborne will make the final decision but what are your thoughts – should the penny stay or go?
Well if you do if might feature on ‘A Celebration of Coronation Commemoratives,’ a new set of stamp sheetlets issued today to mark this year’s 60th anniversary of the Queen’s Coronation.
From china plates to postcards, biscuit tins to badges, ‘A Celebration of Coronation
Commemoratives’ is a stunning new tribute inspired by the work of Robert Opie
From Victoria to Elizabeth II
This definitive royal collection features 5 of history’s most recent monarchs – up to our present Queen and as far back as her great great grandmother, Queen Victoria.
Spanning 175 years of royal memorabilia from Victoria’s Coronation in 1838 to Elizabeth II’s 60th anniversary in 2013, the new collection of commemorative stamp sheetlets take their inspiration from consumer historian and royal devotee, Robert Opie who has spent a lifetime creating scrapbooks from royal memorabilia:
“The historic occasion of a royal coronation, of course, attracts a deluge of souvenirs, from the traditional ceramic mug to a set of commemorative stamps. Instinctively, we all want to keep a souvenir of such an event – a decorated tin, a jigsaw puzzle or just a royal picture postcard.”
A link to the past
But these sheetlets aren’t just colourful montages of Coronation keepsakes – they chart other royal celebrations such as births, weddings and jubilees. More than that, they provide a fascinating insight into what life was like in the past.
Queen Victoria whose incredible record of 63 years on the throne resulted in a vast amount of memorabilia from gin flasks and songs sheets to the more traditional china mugs and plates. Collectively, they paint of picture of Industrial Britain at the height of the Empire.
The new sheetlets feature Queen Victoria and Elizabeth II, the only two monarchs ever to have celebrated a Diamond Jubilee
A boom industry
For the Coronations of Edward VII in 1902 and George V in 1911, royal souvenirs had become big business. An abundance of items like chocolate, biscuit, tea and tobacco tins were widely available as were postcards.
1937 saw the crowning of George VI and a wider range of branded souvenirs such as Cusson’s talcum powder, Cadbury’s and Fry’s. As you might expect, his older brother doesn’t feature as he abdicated before he was crowned (unfortunately, souvenirs for Edward’s coronation had already been produced by the time he made his shock announcement).
The ultimate tribute
A ‘Celebration of Coronation Commemoratives’ is issued by seven British overseas territories – Bermuda, Tristan da Cunha, Isle of Man, Cook Islands, St Helena and Bahamas – with each country issuing 1 Souvenir Sheet and 5 Commemorative Sheetlets. The first sets are released today to coincide with the anniversary of the Queen’s accession in 1952, the others follow later in the month.
9.00am. Friday 1 February 2013. Over 500 people are queuing in the lobby area of Berlin’s Hotel Estrel. All keen to be among the very first collectors to gain entry to the World Money Fair in search of a collector’s bargain, long sought-after coin or a glimpse at the latest issues from the world’s leading national mints.
There is no coin show quite like the World Fair of Money. That is why each year our team of buyers attend, meeting the Mint Masters and Sales Directors of the leading mints, like the Royal Mint, Royal Canadian Mint and the Royal Australian Mint as well as some of the most well-connected secondary market coin dealers.
Here are a few of the highlights from this year’s show that I can share with you.
Royal Mint at the World Money Fair
The Royal Canadian Mint will be issuing more $20 silver coins during 2013, continuing its trend as the world’s most popular silver coin. However, I also heard mention of something that I am pretty sure this could create even more of a storm than the $20 coins. I’m afraid I can’t say more until later this year!
I would also suggest that you look out for some very exciting and collectable issues to celebrate the 25th Anniversary of the Silver Maple.
I was excited to hear the Coronation Anniversary coins are also in the pipeline for Australia and New Zealand, which will prove historic issues with some serious collector demand.
New Zealand were also able to share with us the immense popularity of their Hobbit coins – guaranteeing that they will remain a collector favourite over the next 2 years of films.
Exciting Innovation
Elsewhere, continued innovation excited. Perhaps my favourite was the ability to in-bed a nano chip into a coin, containing detailed information, visible only under a microscope. There is already talk of how to use such technology to include the works of Shakespeare in a nano chip on a coin to commemorate the 450th anniversary of Shakespeare’s birth in 2014.
Looking further ahead…
With almost 80% of you wanting a coin for a royal baby, there is some encouraging news. A number of the major national mints are having discussions with the Palace about issuing a coin with the Duke & Duchess of Cambridge’s baby this summer.
Looking further forward, I spent a considerable amount of time discussing plans to commemorate the centenary of the outbreak of World War I. I think it is safe to say that this will be the major collecting theme of 2014 and beyond with coins expected from the UK, Australia, New Zealand, Canada and even many of the occupied countries.
We look forward to being able to tell you more about these and many more important issues over the coming months.