Ottawa, Sept. 23 (BUS): The death of Britain’s Queen Elizabeth has coin collectors scrambling for rare coins and bills that look like them, even as her portrait is set to circulate for years across the Commonwealth.
Coin dealers say the demand for banknotes and rare coins – such as a pre-WWII Canadian $20 bill showing Elizabeth as a child or the 50-cent Australian platinum jubilee coin – has surged since the Queen’s death in Scotland on 1 September. 8, Reuters reports.
Inquiries have been received from seasoned collectors and novices eager to commemorate the death of Britain’s longest-reigning monarch, who appeared on a record 33 coins around the world, according to Guinness World Records.
“There has been an astonishing rise in demand,” said Peter Hutchison, a specialist in heritage coins in Hattons, London. He said inquiries received increased 45-fold after the Queen’s death and came from as far away as Australia.
At the highest demand are limited-edition items, such as the 50p Platinum British Jubilee Coin struck from real platinum, the 2022 Queen’s Gold HM Contracts, and sets issued in 1953 for the coronation of Queen Elizabeth, along with curiosities like the head of The 1954 Canadian Devil’ Note series, where the Queen’s hair gives the illusion of a smiling devil.
With seasoned numismatists keen to fill in the gaps in their collections, prices are already on the rise.
“I think we’re going to see them increase quite a bit now as more people go into the market and try to chase them,” Hutchison said.
John White, owner of Britannia Coin near Swindon, about 80 miles west of London, said he had an outside buyer willing to pay big for the 2022 Mundi Collection, coins the king gave to elderly individuals to serve their community.
“We are finding it increasingly difficult to get the items our customers want,” he said.
In Australia, cryptocurrency expert Joel Candia posted a video on TikTok this week saying that the value of the country’s 2013 coronet violet $2 coin has “rose” to A$180 ($120).
At Alliance Coin & Banknote in Almonte, Ontario, near Ottawa, owner Sean Isaacs is gearing up for an auction this month showing some “important” royal-themed items, including a 1935 Canadian dollar banknote showing then-Princess Elizabeth as she At eight years old.
“It’s one of the 10 most desirable scents of the twentieth century anyway,” he said, “so I’d be interested to know if there’s an over-excitement about these notes.”
The value of the banknotes Isaacs plans to auction is between C$300 ($226) and “$2,000” each, depending on the condition. He said a rare French copy of the banknote without defects could fetch C$18,000 to C$22,000.
He said pre-activity is strong, and auction night is expected to be the best gauge of interest. In a separate online auction, a 1935 USD 20 banknote from Young Elizabeth was offered for C$2,100 with 10 days left.
long waiting
Looking ahead, Isaacs anticipates a surge of interest in any commemorative coins being issued to celebrate the Queen’s reign. He is also keen to see the first coins on which Charles appears as king.
“This is going to be another big day in collecting things,” Isaac said.
But it may be a while before King Charles coins and bills find their way into people’s pocketbooks, especially outside Britain. The Commonwealth spans 56 countries.
The central banks of Canada, Australia and New Zealand have said that Queen Elizabeth’s notes will remain in circulation for years to come. The Canadian Mint says it will continue to strike coins dated 2022 as needed to supply the market.
New Australian coins will eventually appear in King Charles, but not anytime soon, according to the Royal Australian Mint. “Historically, coins bearing a new sovereign doll were released about 12 months after the coronation,” she added.
In fact, Commonwealth countries looking to use the portrait of King Charles on coins and banknotes are likely to find themselves in line behind Britain.
The Royal Mint and the Bank of England have not provided any details yet, but experts expect that once the mourning period is over, work will begin on the designs, including preparing and adopting a portrait of King Charles.
“I think this process will take at least four months, maybe up to six,” Hutchinson said. They usually aim to get the new coins and banknotes out before the coronation or just in time for the coronation.
No date has been set for King Charles’ coronation.