PNG: Be Wary of King Charles III “Pretender” Coins

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New coins depicting King Charles III are expected to be popular with the public and collectors when the Royal Mint strikes and distributes them, according to the Professional Numismatists Guild (www.PNGdealers.org).

1953 Royal Mint Queen Elizabeth II penny
People enjoy collecting examples from the first year of issue when a new coin design is introduced, such as the 1953 Royal Mint coins of Queen Elizabeth II, according to the Professional Numismatists Guild. (Photo credit: Numismatic Guaranty Corporation.)

However, the nonprofit coin dealer’s organization cautions that consumers and investors should know the difference between official legal tender and coins issued by countries not part of the United Kingdom or the Commonwealth.

When an important new coin design is introduced, many people enjoy collecting examples from the first year of issue, such as the 1953 Royal Mint coins of Queen Elizabeth II or the 1964 United States Mint half dollars depicting President John F. Kennedy.

"The marketplace already has advertisements for coins featuring King Charles III that are made by or on behalf of countries that issue non-circulating legal tender money intended only for collectors, not to be used in circulation even in their own countries. These may be fine souvenirs but these pretenders to the numismatic throne may not be good long-term investments," said PNG President Wayde Milas.

"Semi-numismatic coins or private rarities are sometimes minted by small island nations and packaged in special presentation boxes with certificates of authenticity. These pieces are sometimes touted by third-party marketers as good investments because of their theme or restricted low mintage. While occasionally some of these do appreciate in value, the majority of these modern issues, including some produced by the United States Mint, have ended up valued below their issue price, leaving the owner with an expensive box and certificate," explained Milas.

"If you like the subject or theme represented by these coins, admire the beauty of the design, or would like to own them as a souvenir or to show support for their cause, then buy them. However, if you hope it might actually go up in value then you’re probably better off avoiding this type of material," he advised.

PNG officials also caution investors that gold-coated coins are not "gold coins." Frequently advertised on television, the so-called tribute items are privately produced and often contain only a tiny amount of gold. These also may be fine souvenirs and mementos but should not be considered an actual precious metal investment because they have only a razor-thin coating of gold, usually worth less than a dollar. Traditionally, they have virtually no secondary market value as gold.

All members of the Professional Numismatists Guild and its Accredited Precious Metals Dealer program (www.APMDdealers.org) must adhere to a strict Code of Ethics in the buying and selling of rare coins, paper money, and precious metals. For additional information, visit www.PNGdealers.org or call PNG headquarters in Temecula, California at (951) 587-8300.

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Jeff Legan

Whenever the coin commercial proudly tells you how many milligram’s of gold their “gold” coin contains, you should instantly stop listening, and start laughing.

Antonio

I only purchase selectively gold plated coins from Canada, Royal Canadian Mint.

Kaiser Wilhelm

When made properly by a reputable Mint these coins can indeed be very attractive.

Antonio

The 2011 Canadian Parks certainly are.

Kaiser Wilhelm

Antonio,

I missed those, but I do know how beautiful Canadian coins can be.

Kaiser Wilhelm

And when the claim is made in terms of nanograms of the precious metal then it’s quite likely they had the gold dust fairy gently breathe on the coins as she flew by.

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Antonio

Is that gold dust or something else? I don’t want a little “p” on my coins. Unless it was minted at the Philadelphia Mint.

Kaiser Wilhelm

Wait, Antonio, are you saying that isn’t where all the gold dust comes from?

Antonio

Yeah, remember those Jacobites.

Antonio

I have some first year (1937) of King George VI from Canada. Finding my first coin, a five cent coin, started me coin collecting for Canada. The oddity with it is that it has 1937. as the date. I thought the period after the seven was an error and so I looked for more and found out that all the five cents for that year had a period after the seven, no reason why. Only the five cent coin had this feature. Nevertheless, I began collecting other denominations of coins until I left the country. I have the complete issue… Read more »

Kaiser Wilhelm

I never cease to be both amazed and gratified by the incredible variety of collections.

Antonio

As many as there are countries. I also like the microstates of Andorra, Liechtenstein, San Marino and Vatican City.

Kaiser Wilhelm

Since coin size is relative to land mass, their ducats must be microscopic. 😉

Last edited 7 days ago by Kaiser Wilhelm
Kaiser Wilhelm

Speaking of tiny coinage, this 2020 Swiss 1/4 Franc Gold Commemorative is only 2.96 mm in diameter and weighs just 0.063 grams.

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Richard

It will be deep into 2023 before the Royal Mint issues any King Charles III coins as there will be design competition first for the “official” portrait. Plus, the Coronation itself will generate enormous interest in the UK banknotes and UK coinage.

Antonio

How long did it take for Queen Victoria coins to be issued? For King Edward VII, George V and George VI? How about for Queen Elizabeth II? Sometime in 1953 if I’m not mistaken. All it needs is the monarch’s approval. They could start minting in January, if they so choose.

Rich

Expect The Royal Mint 2023 Gold & Silver British Britannia coins to be released some time in October/November 2022 in line with previous years; The Royal Canadian Mint 2023 Canadian Maple Leaf Bullion coins and the Perth Mint 2023 Australian Bullion Program coins will also be released in the same time frame, all still with the QEII images.

Last edited 6 days ago by Rich
Antonio

I’m looking for British Florins. This one looks nice.

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Kaiser Wilhelm

Antonio,
Even the very name, “Florin”, seems to convey a positive image to me.

Antonio

Reminds me of the Irishman in Braveheart, “It’s my island!”

Kaiser Wilhelm

As I remember, Antonio, none of that ended well for said protagonist.

Speaking of which, who is to say seventy-three year old King Charles III will be blessed with the somewhat unusual longevity of his mother; we might sooner rather than later be looking at yet another coin change under King William The Whatever.

Rich

It would be King William V, but he still needs a nickname like William the Conqueror, William the Lion, or William of Orange.

Antonio

William of Cambridge.

Kaiser Wilhelm

If this not all that young a man’s father, on the other hand [see my earlier comment in this very regard] manages to have anywhere near as long a reign as the British Monarch as his grandmother Elizabeth II had, the options for his nickname of William the Aging, William the Old or William On Assisted Living might just apply.

Last edited 5 days ago by Kaiser Wilhelm
Rich

Sir Kaiser, I like your original nickname, William the Whatever.

Kaiser Wilhelm

My wife wholeheartedly agrees with you that my original impulse was the best, Good Sir Rich, which is why I now humbly accept the nickname of Wilhelm the Spontaneous.

Antonio

Speaking of King’s coins, this is an interesting set of what might have been.

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Kaiser Wilhelm

Now that, Antonio, is a set of coins truly deserving of the term “world class rarity.”

Antonio

There are only two Canadian 1911 silver dollars. That’s a world class rarity. Even rarer than the U.S. 1804 silver dollar.

5_1911-canada-silver-dollar-king-george-v-electrotype1.jpg
Kaiser Wilhelm

That’s not just an unbelievably rare coin, Antonio, but a beautiful one at that.