Britain’s round pound coin appears to have retained nostalgic value after the twelve-sided one replaced it. During its realm the Queen’s portrait changed four times, and there were various special issues.
The round coins are now going through the final stage of their recall. Shops no longer accept them but banks still do. If you thought the Royal Mint’s project was going to plan you may have to think again.
That’s because Gladstone Brookes believes an incredible 124 million round pound coins have not returned for melting down. That’s approximately two per head of population. Some of them are worth considerably more than their face value.
Why Are the British People Hanging On to Them?
The government took care to design a solid replacement when it phased out the old £1 bank notes. People liked the coins because they represented solid British values. Slot machine operators may have been delighted because they could round prices up to the nearest pound.
Perhaps some Brits are hoarding the coins because they represent a fondly remembered past. If they kept them in case they increased in value some may be pleasantly surprised.
# The Edinburgh coin is now worth £37 in mint, uncirculated condition according to Gladstone Brookes Ltd. Even a slightly worn one carries a value of £16. They made one million Edinburgh pounds, we wonder where they are now.
# However, the Cardiff pound is only worth £5.55 before you start counting your worth. The London one is in third place at just £4 each but still a solid 400% appreciation according to Gladstone Brookes.
Where to Look for Your Hidden ‘Store of Value’
The coins were relatively heavy and tended to slip into pocket corners. Feel down the back of the sofa first, where you dozed over soapies. And old duffel coat or an abandoned handbag could turn one up too.
Gladstone Brookes favours a child’s piggy bank or the corner of the car glove box. Finally, they suggest getting to the bottom of a gym bag. We are not sure that is worth the trauma but you may like to give it a try.
A Hoarding Alert of Another Kind in Ireland
People across the Irish Sea consume an estimated €230 million worth of biscuits each year according to the Irish Sun. Quite a few of these come from Britain, with Burton’s Jammie Dodgers from Wales being at the top of the pops.
The Irish Sun tells its readers to stock up with them while they can. That’s because a Hard Brexit would impose a 22% EU tariff. Other potential victims are Fox’s Viennese, McVitie’s Digestives, Crawfords Creams, and Burton’s Toffypops.
However, we are not convinced stocking up on British biscuits would be genuine hoarding. That’s because compulsive hoarders can’t let a thing go, whereas we would pop those treats down our throats in a week.
Then we would switch to Jacob’s Fig Rolls and Seymour’s Shortbread made in Ireland instead, and snack happily ever after. But only if we were in Ireland of course because we must support our own people.
