It was reported yesterday in The Daily Telegraph that the Royal Mint plan to issue a brand new UK coin denomination as part of the London 2012 coin programme. The coin will be a 1 kilo gold coin and will have a denomination of £1,000. At present, the highest UK denomination is the £100 1oz coin that features within the annual Britannia Gold Set.
Because of the fact that this will be the first denomination of its kind, new legislation from Parliament will need to be put in place before production can go ahead. However, only 60 collectors worldwide will be able to own the unique gold issue when it is released at some point over the next 12 months – but they will be expected to pay close to £50,000 for the privilege.
Additionally, a £500 denomination UK coin is also expected to be submitted – again 1 kilo in weight, but struck in silver rather than gold.
With the anticipation for London 2012 growing – only yesterday the scheduling was announced for the events – this announcement is only going to fuel coin collector interest further in the Royal Mint London 2012 Olympic coin programme.
This in turn should mean that demand for Olympic coins already issued as part of the programme will only increase. Meaning owners of sell-out issues such as the Olympic Handover Gold £2 coin from 2008 and the 2009 London 2012 Countdown Silver £5 coin will be in an envious position.