New King Charles 50p coins could be worth £2 each ‘within weeks’

The first coins bearing the official effigy of the King have appeared in circulation in post offices around the UK.

Commemorating the life and legacy of Queen Elizabeth II, the monarch’s portrait will appear on the 50p for the first time, featuring on the reverse or “tail” of the coin.

A commemorative edition of the coin was released in October, followed by record visitors to the Royal Mint’s website in 24 hours.

A total of 49 lakh 50 paise coins will come into circulation in 9,452 post office branches throughout December.

Coins will be distributed as change when customers make purchases.

Some 9.6 million 50 paise coins will eventually enter circulation in line with demand.

The Aldwych branch of the Post Office in central London near Clarence House is one of the places to receive the new coins.

The coins’ appearance coincides with the release of the Duke and Duchess of Sussex’s controversial Netflix documentary, in which the royal family prepares for the latest revelations about Harry and Meghan.

Rebecca Morgan, director of collector services at the Royal Mint, said: “Today marks a new era for UK coinage, with the effigy of King Charles III appearing on 50ps in circulation.

“This is a great opportunity for coin collectors to add to their collection, or start one for the first time.

“We anticipate a new generation of coin collectors emerging, with people keeping a close eye on their change to try and see the new 50p bearing the portrait of our new monarch.

“The Royal Mint has been trusted for over 1,100 years to make coins featuring the monarch’s effigy and we are proud to continue this tradition under the reign of King Charles III.”

Nick Reid, Chief Executive of the Post Office, said: “It is a tremendous honor for the Post Office and postmasters that the first coin featuring King Charles III is being released into circulation through our extensive branch network.

“December is our busiest time of year so the coin will be entering our network in a phased manner. If you do not receive the new 50p in your change on your first visit to the post office, you can receive it in your change on subsequent visits. Might as well get it, so keep an eye out for it.

The king’s effigy was created by sculptor Martin Jennings and personally approved by Charles.

The value of the new 50p is unlikely to become a collectible item, with coin enthusiasts saying they will struggle to turn a profit when selling the coin on sites such as eBay.

Coin expert writer Joe Trewick told This Is Money: “We would not expect the coin to be worth a significant amount on the secondary market: 50p coins with similar mint figures sell for between £1.14 and £1.37.

“However, as this is the first 50p to be introduced to King Charles III, there is no doubt that the value can (and will likely be) high initially as collectors rush to add it to their collections.

“A good example of this is the 2022 Platinum Jubilee 50p, for example selling for above face value on eBay within weeks of the coin being issued.”

In keeping with tradition, the portrait of the king is on the left – on the opposite side of the late queen.

The reverse of the 50p features a design that originally appeared on the 1953 Coronation Crown.

It was struck to commemorate the Queen’s coronation at Westminster Abbey and consists of four quarters of the Royal Arms depicted within a shield.

Between each shield is an emblem of the Home Nations: a rose, a thistle, a shamrock and a leek.

All UK coins featuring the effigy of Queen Elizabeth II will remain legal tender and in active circulation.

His portrait appears on nearly 27 billion coins circulating throughout the UK.

They will be replaced over time as they become damaged or worn out and to meet demand for additional coins.

Historically, it has been common for effigies of different kings to co-circulate coins, ensuring a smooth transition with minimal environmental impact and cost.


#King #Charles #50p #coins #worth #weeks

Weeo

Weeo

Leave a Reply

Your email address will not be published. Required fields are marked *