Day 107

This is a picture of a coin that were are often asked about. It’s a single metal £2 coin. They were produced between 1986-96 and although they were supposedly for circulation you rarely saw one and they didn’t really catch on. They were replaced by the bimetallic type, originally planned for 1997, but not actually released until 1998.

We often get phone calls from people, who think they have a rarity because they have never seen one of the older sort. This is easily explained by the fact that the old type is at least 26 years old and even then you would need a good memory fro a coin you rarely saw.

However, I cannot explain the fixation some people have for the “solid gold” version. They ring up, they tell us they have the solid gold version, they won’t accept that it is extremely unlikely and they invariably demand that we tell them where to go to get it confirmed. The truth is that there were very few of the gold proof versions made. They were expensive and it’s unlikely that anyone ever took them out of their box, threw the certificate away and spent it as a £2 coin.

There were millions of them minted. Mintage figures for the 1995 Dove of Peace coin is 4,391,248. Mintage for the gold version is 1,000. So, even if all things were equal, the odds are 4,391 to 1 against it being a gold coin. If you allow for the fact that it is extremely unlikely that any were taken out of their packaging (let’s say this happened to 10 of them – bearing in mind they cost about £1.000 and people are going to be careful with them) the chances are 439,125 to 1 against it being a gold coin.

If I were to get one call a day about this, the chances are that I will die of old age several times over before someone rings with a loose gold coin.

However, this doesn’t stop people ringing, convinced that I’m an idiot because I don’t believe their brass coin is gold.

The coin in the picture is gold. It is, as you can see, in a plastic capsule inside a box, with a certificate. And, no, I don’t know why a coin with a mintage of 1,000 needs a numbered certificate with a number over 2,000, but I’ve seen it before

Gold £2 Coin 1995 End of WW2 Obverse

Gold £2 Coin 1995 End of WW2 Obverse

Gold £2 Coin 1995 End of WW2 Reverse

Gold £2 Coin 1995 End of WW2 Reverse

8 thoughts on “Day 107

    1. quercuscommunity Post author

      We have, in the past, taken swaps, or entire collections of 50p coins in exchange for other coins, then put them in the till to use as change. It helps when people bring their “rare” coins in and we can show them a handful in the till. They do one for the Claim of Right but it is quite rare and expensive. The Bill of Rights, on the other hand, is common and one can be had for £2 if it is circulated. More special treatment for the Scots!


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