UK 20p Undated Error Coins Commanding Huge Premiums
News of an error in UK’s Royal Mint 20 pence coin (20p) blasted through the media this week, creating an intensified fervor in collectors trying to find and buy the coins.
Prices for the coin, which have a face value of about 33 cents US, have shot up with auction bidding reaching as high as several hundred dollars. (See current eBay auctions.)
According to reports, the Mint issued tens of thousands "year-less" 20p coins toward the end of 2008.
"The Royal Mint can confirm that a small number of new design 20 pence coins have been incorrectly struck using the obverse from the previous design, resulting in these coins having no date, " a Royal Mint spokesperson was quoted on BBC News.
"The issue has now been resolved and the Royal Mint would like to reassure members of the public that these coins are legal tender."
The British Royal Mint last year launched several circulating coins with new reverse designs featuring the Shield of the Royal Arms. It was the first new design in 40 years.
During the design process, the year of issue for the 20p was moved from the reverse side to the obverse ("heads side") which features Queen Elizabeth II. However, some of the new coins were struck using the old die obverse, resulting in the missing dates.
For more, read the BBC News article Faulty 20p coins ‘worth £50 each’ or the AP article British Royal Mint issues rare coins.
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July 2nd, 2009 at 4:54 am
Hi,
I was just wondering if anyone knew why these undated 20p coins are selling for so much money?
On Monday night one sold for £5,800 & then yesterday a whopping £921,000!!! The prices are soaring every day.
What could they be worth in the future I wonder?
25,000 have been taken out of circulation already.
Anyones thoughts appreciated, many thanks
July 4th, 2009 at 3:38 am
This guy is giving % of proceeds to charity
http://www.undated20p.blogspot.com/
good for him, i hope he gets a good price
July 5th, 2009 at 9:11 am
I think these coins will be worth £6-10 in 6 months time when all of this mania dies down- a classic bubble situation. No knowledge + money + hype + stupid prices. There was, I think, a 2p error coin issued in 1986, something like 1000 were issued and I think one was auctioned for £600 last year. So 50,000-100,000 of the 20p coins make this not rare at all…
The London Mint (NOT The Royal Mint) are buying up these coins for £50 at the moment (time limited). They obviously want to create the impression of rarity. They have purchased at least 15,000. No doubt they will drip feed these in to the market place.
I wouldn’t touck these coins with a barge pole, but keep looking for them in my change!
I would rather put my money in gold sovereigns.
July 7th, 2009 at 8:55 am
With over 200,000 of these 20p coins issued the value is not likely to exceed anymore than £5 - £7. A woman just called into my shop and offerred me one of these ‘fools gold’ coins for £1000 ! People who find one of these coins in their loose change think they have won the equivelent of the lottery, ther is not 200,000 + people around who would pay that sort of money for such a low value coin that was subject to a misprint.
July 11th, 2009 at 12:39 pm
We have posted 3 pages on our website about these “rare” 20 pence error coins, containing information, opinion, and advice.
These pages should answer most questions about these coins, and correct most of the errors and misunderstandings about them.
We have even forecast future prices for them!
July 17th, 2009 at 4:53 am
To the editor, i read an article in last weeks Sundaymail money news about undated 20 pence pieces,it allso mentioned 2pence pieces with new pence on the back instead of two pence,have they got a sale value.
I would like to hear your opinion.
July 17th, 2009 at 2:59 pm
I was in the UK a week ago and after hearing all the commotion of the 20p error, I checked my change and sure enough I am in possession of one. I would like to sell it, but I don’t know how much I could get ofr it. Any suggestins?
October 19th, 2009 at 9:05 am
rare coins are a bunch of gold lyng on the streets. l have a few 2p rare coins but l dont know where to trade them. Any suggestions people???
October 27th, 2009 at 7:39 pm
right to clarify about the 2 new pence coin the only valueble one is the 1983 one cause it was made as a collection and yes these 20 p undated coins no one knows wot they will b worth but lets face it if u can drop on 1 for around 100 quid cause there are a couple on ebay for that price there worth takin the gamble cause u will always get ur money back at least from a collector ,,so if u get any profitt then its a bonus isnt it,,,,,,,,,,,,,,,,,,,,,,