Another Bar Takes Up The DoubleTheMoney Challenge

News of my challenge to increase the value of my tips from the bar by taking these in collectable coins and selling them has caught the attention of staff at another bar in a nearby Highland town.

First there was curiosity, then jokes, then genuine questions about which coins were most profitable to sell online and the practicalities of doing this.

I have watched with interest as others who work with a till and so handle thousands of coins every day have tried to select those coins with a potential worth of more than their face value. However many stumble when faced with the process of selling these online and shipping them to buyers.

That is why the staff of a bar in a neighbouring town came to me this week with a collectable coin that had been offered in payment for a drink at their bar to ask if I could show them the process I use.

The first step is obviously to spot a coin that may be worth more than its face value and they seem to have done that. They showed me an example of the iconic 1996 Euro Championship commemorative coin which was minted in the shape of a football when this competition was held in the UK.

The iconic Euro '96 £2 coin was minted in the shape of a football
The iconic Euro ’96 £2 coin was minted in the shape of a football

A quick check of the Royal Mint’s website shows that 5,141,000 of these were struck. The Mint only issued five designs of two pound coins into circulation before the current bi-metallic format was adopted in 1997, with less than 10 million of each design released so these are relatively rare but easy to spot when given in change.

Coincidentally, earlier this year I have sold two other examples I recovered from my bar – a 1986 £2 with a thistle design to mark the Edinburgh Commonwealth Games of that year and a 1995 Dove of Peace, marking the fiftieth anniversary of the end of the Second World War.

The 1986 Edinburgh Commonwealth Games Thistle was the UK's first Commemorative £2 Coin released into circulation.
The 1986 Edinburgh Commonwealth Games Thistle was the UK’s first Commemorative £2 Coin released into circulation.
The 1995 Dove of Peace
The 1995 Dove of Peace

The Commonwealth Games coin sold to a man in Cambridgeshire for £3.92 in January while, in March, the Dove sold to a buyer in Yorkshire for just three pounds.

To be honest I was disappointed in the values I’d achieved because these coins are now rare in circulation but, as ever, I was philosophical in noting that at least I’d been able to increase the value of my tips, even if I’d failed to reach the DoubleTheMoney target.

So let’s see how this latest early single-metal two pound coin will do.

 


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s