A NEW 50p coin marking the Queen’s Platinum Jubilee is being released today.
Around 1.3million of the celebratory coins are being made available on “limited release”.
They will be available at the Post Office’s 11,500 branches across the country from Monday, February 7.
Post Offices located in Windsor and close to Sandringham where the Queen has homes are among the first branches to receive the new coin.
Maximum mintage of the coins has been fixed at 5,000,070 and the number is a nod to the Queen’s 70 years on the throne, but they won’t all be released at once.
News of the new 50p coin was first revealed last year by the Royal Mint, exciting collectors.
Postmaster Umesh Sanghani, who has run Dedworth Green Post Office in Windsor for 23 years with wife Rashmita, said: “We have had many customers coming into our Post Office to check that we are going to get the special 50p coin.
“They don’t want to miss out on this souvenir.”
Other versions of the seven-sided 50p coin are among the most collectable and it’s the first time a royal event has appeared on the tail side of the coin.
Rare 50p coins can often sell for hundreds of pounds and far more than their face value.
Their value is based on how many are available and demand, and if collectors are keen to get their hands on one this can push up the price.
The rarest and most valuable 50p features an image of Kew Gardens and the sought after coin can sell for as much as £250.
As the Jubilee coin is so new it’s unclear yet how much it could be worth in future.
But you can get your hands on the coin directly from a Post Office from today for 50p – and you might soon spot one in your change if you’re lucky.
To find your nearest Post Office branch you can use the store finder tool – just enter your postcode.
The Platinum Jubilee coin is personally approved by the Queen and features the number 70 and the Royal Cypher.
Designed by Osborne Ross, the coin also has the dates of Her Majesty’s reign.
On the other side, is the The Queen’s portrait which also appears on other UK coins in circulation.
The Queen is celebrating 70 years on the throne – the longest reign of any UK monarch.
Nick Read, chief executive at the Post Office, said: “We are thrilled to be part of the celebrations for Her Majesty’s Platinum Jubilee year and that our 11,500 Post Offices across the whole of the United Kingdom will exclusively start the circulation of this special 50p coin today.”
What makes a coin more valuable?
Mintage figures are generally what collectors look at to work out its value.
Low mintage makes it rare which often means it is more valuable, but that’s not the only thing.
Coin website Change Checker looks at how many of the coins have been collected by its members which shows how easy they may be to find (or not), and rankks them regularly.
The experts also track the number of times a design has been requested as a swap over the previous three months, showing the current level of collector demand.
While these indexes don’t necessarily correspond to value, it can be an effective indicator.
The newness of the Platinum Jubilee coin means it’s not yet listed on the index.
Coins with errors like a misprint can also be worth more than face value.
A rare error on a 5p coin means it recently sold for £161 – more than 3,000 times its original value.
What happens if I have a rare coin and how much is it worth?
If you think you’ve got a rare coin you have a number of options – either selling it through a coin dealer, at auction or on eBay.
You can look at eBay’s recent sold prices to get an indicator of how much your coin usually goes for on the site.
As the Platinum Jubilee coin is so new there may not be many sold just yet.
Search the full name of the coin, select the “sold” listing and then toggle the search to “highest value”.
It will give you an idea of the amount of money that the coin is going for.
You can either choose to sell the coin on eBay or through a specialist such as Change Checker.
The amount you get for it depends on how many there are and demand – there’s no fixed price.
A coin is really only worth what someone is willing to pay for it at the time.
If you’re looking to buy one yourself beware of fakes.
