Tuesday, 29 September 2009

The last time an undated coin entered circulation in the UK....

....This last happened over 300 years ago in the year 1672 under the reign of Charles II.

In 2008 when the Royal Mint were manufacturing the redesigned British coinage the mistake was made on a batch of 20p pieces. The old 20p had the date on the 'tails' side of the coin on the same side as the denomination(20) where there was no date on the side of Queen Elizabeth II's head, the mistake was made in the process of shifting the date to the heads side where the coins were minted using the old version of the coin for the heads side which resulted in the batch of dateless 20p coins.

These coins have become rarer since news broke of the significance of this Royal Mint error which will have potentially a significant impact on future values if it hasn't already with some people listing them for sale in the millions.

Even though London Mint(no association to Royal Mint) have made a highly publicised offer of £50 each to anyone who is willing to cash in. London Mint are a private company therefore will not be buying these for £50 en masse if there wasn't a huge profit to be made. Think about it why advertise so widely and why are they in business? To answer these questions is simply a no brainer.

How much is an undated 20p worth?
Well to answer that it's how much do you think and feel they are worth.
There are people out there willing to pay in the hundreds and thousands possibly millions.

In previous posts I have commented on the ebay listings for the 20p coin , today there are 505 listings covering 11 pages and without trawling through the whole list have seen one listing for the undated 20p coin for £million .

I will keep posting the number of listings I see on ebay for the undated 20p coin here randomly and it will make an interesting picture on how long there will be listings for undated 20p coins on ebay.

Long live the undated 20p coin.

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