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1949threepence

What percentage of pre decimal currency was reclaimed by the RM post 15.2.1971?

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Worth checking some old Coins News from the time - I'm sure the Australian Coin Review had Royal Mint report summaries in the late 1960s early 1970s.

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15 hours ago, Mr T said:

Worth checking some old Coins News from the time - I'm sure the Australian Coin Review had Royal Mint report summaries in the late 1960s early 1970s.

I could be wrong but I had the feeling Coin News was first published in the 80s?

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On 2/16/2020 at 7:15 AM, Mr T said:

Worth checking some old Coins News from the time - I'm sure the Australian Coin Review had Royal Mint report summaries in the late 1960s early 1970s.

Tried the Coin Monthly mags from that period. Have read them all up to the end of 1976, and found nothing on reclamation rates, save for what Court referred to in his first article. 

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On 2/18/2020 at 2:16 PM, 1949threepence said:

Tried the Coin Monthly mags from that period. Have read them all up to the end of 1976, and found nothing on reclamation rates, save for what Court referred to in his first article. 

Seems possible that after the bottom fell out of the modern market post-D Day, few really cared?

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1 hour ago, Peckris 2 said:

Seems possible that after the bottom fell out of the modern market post-D Day, few really cared?

Quite possibly. I imagine the period post D Day and beyond must have been quite a flat and depressing time as far as the modern market was concerned. All the prior enthusiasm was largely based on collecting from change in circulation, and that option was abruptly removed. 

With that said, there is another very interesting article from the October 1972 edition, on the subject of coin "wastage rates". This is something touched upon by Jerry @jelida earlier, and his opinion is vindicated by the research in this article. It starts on page 83, and is headed "A further analysis of coin surveys", by T.J.Cole B.A., B.Phil. Essentially, Cole concludes that there is a 2% per annum wastage rate on coins which have mintages exceeding 9 million, but this rises steeply for mintages below 9 million. So for example, if a coin had a mintage of say 20 million in 1945, by 1970, one would have expected the number of that cohort still extant, to be 12,069,286.    

I'm not sure I quite get the logic of why wastage rates due to pure loss (carelessness) should be any higher for mintages of below the arbitrary figure of 9 million. Cole seems to have established stats to support this contention, but I can't see why rates of loss should be any greater in absolute percentage terms if the mintage is lower. 

    

  

 

 

Edited by 1949threepence

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17 hours ago, 1949threepence said:

I'm not sure I quite get the logic of why wastage rates due to pure loss (carelessness) should be any higher for mintages of below the arbitrary figure of 9 million. Cole seems to have established stats to support this contention, but I can't see why rates of loss should be any greater in absolute percentage terms if the mintage is lower.

He can't possibly determine whether the wastage was due to carelessness or collectors. I'd guess that once a low mintage was known about, many collectors/investors would put examples aside in the hope of higher values in times to come? Add that to the 2% normal wastage and there's your higher %.

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On 2/20/2020 at 4:36 PM, Peckris 2 said:

He can't possibly determine whether the wastage was due to carelessness or collectors. I'd guess that once a low mintage was known about, many collectors/investors would put examples aside in the hope of higher values in times to come? Add that to the 2% normal wastage and there's your higher %.

Indeed so.

Cole added a chart of "expected" and "actual" numbers of a brass threepence sample collected. Although I'm not sure any 1946 or 1949 should be expected as they weren't ever issued for circulation here in the UK. 

Expected 1 = Scotland

Expected 2 = Midlands

Expected 3 = Southern England

It would appear from previous surveys taken into account by Cole, that there was far less evidence of hoarding in Scotland.

 

 

 

 

cole 5.jpg

Edited by 1949threepence

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On 2/22/2020 at 2:58 PM, 1949threepence said:

Indeed so.

Cole added a chart of "expected" and "actual" numbers of a brass threepence sample collected. Although I'm not sure any 1946 or 1949 should be expected as they weren't ever issued for circulation here in the UK. 

Expected 1 = Scotland

Expected 2 = Midlands

Expected 3 = Southern England

It would appear from previous surveys taken into account by Cole, that there was far less evidence of hoarding in Scotland.

Interesting that. I remember at school I switched from pennies to 3d's on a particular day ... and in the first bag I looked through there was a 1949! Never found a 46 but did get a fair sprinkling of 50 and 51.

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On 2/23/2020 at 11:31 PM, Peckris 2 said:

Interesting that. I remember at school I switched from pennies to 3d's on a particular day ... and in the first bag I looked through there was a 1949! Never found a 46 but did get a fair sprinkling of 50 and 51.

Sounds as though you got lucky. Have you still got it?

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9 minutes ago, 1949threepence said:

Sounds as though you got lucky. Have you still got it?

Definitely! Though I got a much better one - NEF - from Cookie in the 90s. A GEF would now suit me...

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