Round Pound Mania

Well the penny (or should that be pound) has finally dropped in the mainstream media that the introduction of the UK’s new 12-sided pound coin means the current crop of round pound coins in use will soon be removed from circulation.
The first wave of coverage this week has been a call to action for people to search for every one of the soon-to-be useless old style of round pound coin and deposit these in a bank or Post Office before they cease to be legal tender in October.
The next, I am sure, will be some hysterical reporting that among these coins are one or more “rarities” which can sell for many times their face value, prompting a nationwide race against the clock to uncover a fortune down the back of your sofa before the coins become worthless.
The imminent removal of millions of pound coins from circulation has prompted existing collectors to make sure they have an example of each variety while media coverage has created a new group of collectors.
The next wave of media coverage will probably feature those less common examples of pound coin collectors are desperate the get their hands on.
Amid all the inevitable misinformation sure to emerge from mainstream media reports, it was reassuring this week to see the publication of a definitive new “Scarcity Index” for most pound coins. This was the result of research carried out by the Change Checker blog and goes further than a simple ranking of mintage figures (the supply side of the equation) but also adds a measure of demand by ranking the number of collectors who have used the site’s boards to seek an example of various coins.
Unsurprisingly, this found that 2011’s Edinburgh version of the UK Cities series of coins was the most scarce, followed by the London and Cardiff examples and the Scottish thistle version of 2014’s Floral emblems series, with the distinctive Gorringe Crowned Shield of 1988 completing the top five.
This index was very well timed as it was published a few days after I decided to create a large multi-item eBay listing to offer all of the hundreds of pound coins I have amassed through work and other areas over the past few years. The extra information will help inform my pricing of these lots.
Less than three days into this listing going live, ten coins had been sold for a total of £26, beating the DoubleTheMoney target, but I soon realised some prices had already risen faster than I anticipated.
Change Checker had also recognised the inevitable upsurge in interest in the country’s stock of round pound coins as their replacement by the new 12-sided pound became imminent so this year they launched “The Great One Pound Coin Race”, complete with a handy chart showing the “24 varieties of pound coin” issued since the first Royal Arms pound in 1983.
This convenient guide was perfect for many collectors as it reduces the dozens of varieties issued to a more realistic figure by disregarding other changes (to year and portrait, etc.) to leave a manageable target.
However, my eBay offering took more than a week to assemble as I wanted to be able to offer collectors a comprehensive listing of every variation of pound coin in circulation before they are removed. It can be found at eBay under the heading “Every UK Round Pound Coin from 1983 to 2017 (almost!) Great One Pound Race” (the “almost” refers to the face that, at the lime of launching, there was no Edinburgh pound available.)
So, in addition to listing every example I had amassed, my overall framework also included slots for every variation so I would be able to add these as and when I come across them in future. So watch this space for more news of how prices are moving in the marketplace. This will be updated with current stock so please return over coming months for the latest information.

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