It’s just a month to go until the Royal Mint releases the first of the new 12-sided £1 coins into circulation and it’s already causing considerable excitement amongst collectors.
With 1.4 billion new coins due to hit the streets, getting hold of a new shiny £1 coin is not going to be much of a challenge.
But getting hold of a limited edition precious metal collector’s piece is likely to be a very different story.
The Last Round £1 Coin – immediate sell out
Whilst exact details are yet to be revealed by the Royal Mint, we expect Silver and Gold editions to be released along similar lines to the Last Round £1 Coin that was issued last year.
Both the silver and gold coins sold out in a matter of days, with some dealers now listing the Silver Proof Last Round Pound for over double its new issue price.
Ongoing sell-out trend
In fact there is a clear pattern in how The Royal Mint is setting its edition limits. And it’s good news for knowledgeable collectors who are quick off the mark as more and more issues are selling out in record time.
The recent Sapphire Jubilee Silver Proof £5 coin, for example, had an edition limit of just 8,000 coins. An incredible 90% lower than 75,000 coins issued just 5 years earlier for the Diamond Jubilee.
As a result it sold out within a week of the Jubilee date.
But that’s not the only rapid UK sell out of recent times. The Bicentenary Gold Sovereign saw both the Proof Sovereign and 5-coin set sell out in just a couple of weeks, whilst the recent King Canute issue saw record low edition limits meaning that even such a relatively “weak” subject has sold out too.
Indeed the move to low edition limits is highlighted by the sell-out Last Round Pound. Back in 1983, when the first £1 coin was issued, The Royal Mint set an edition limit of 50,000 Silver Proof Coins. Last year, just 7,500 individual coins were authorised.
Get ahead of the crowd
The Royal Mint are yet to confirm the details (including the edition limits) for the collector’s edition of the new 12-sided £1 Coin. But the trends are clear. As is the importance of this issue – the first major new coin for almost 35 years.
The message is simple. Don’t miss out. Get in quick.
Make sure you don’t miss out
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Please note, we will only use this information to contact you about the release of the new 12-sided £1 coin.