Rare but how actually rare is it?????

[PWA 1967]

Was the..... 50P...... i asked was withdrawn ........Nothing to do with the 20p.

[copper123]

I have never heard of any country  "withdrawing" coins if they get out it is just accepted and they just become collectors items , that goes for the olympics 50p as well - I think they were all issued in the £2.99 cardboard  sets from the mint .

 

[PWA 1967]

Yes that makes sense .

Suppose what i should of said rather than withdrawn was did they change the design after only producing a few 

[copper123]

yep

[Nutsaboutcoins]

As far as the undated 20p goes, I believe the RM issued a letter to banks and post offices for them to return any bags/rolls of un issued undated coins, as suggested it would be impossible to remove those that were already out in the big wide world. That said the RM are actively removing Bronze 1p & 2p coins for recycling, so they must have a way of "filtering" the coins in circulation.

The "Underwater" Aquatic Olympic 50p were only issued on cards, the dies were recut before coins destined for circulation were struck. There was a rumour at the time that all of the "underwater" 50p coins were issued through the same London dealer, but I have not seen this confirmed anywhere. 

Ian..    

[copper123]

As for the above statement  that the royal mint asked for the undated coins back  , I consider this a load of rubbish the mistake was first noted in numismatic circles about eight months before all hell broke loose with the london mint office announcment to the public .

It is thefore likely that the royal mint knew about the mistake and accepted the idea the coins were in circulation and worth face value

There is not a cat in hells chance that any undated 20p coins would have sat in a bank vault for that length of time - they all ended up in circulation - I myself found four or five before the london mint office announcment , i only ever found one more in circulation afterwards.

I would be interested in a copy of this bank letter but I strongly believe it does not exist as, the cat was allready out of the bag , horse had already bolted, a good eight months beforehand

[copper123]

It is really easy to sort steel and copper and bronze 1p and 2p pieces all you need is a thing called a magnet.

Edited January 29, 2016 by copper123

[Nutsaboutcoins]

1 hour ago, copper123 said:

It is really easy to sort steel and copper and bronze 1p and 2p pieces all you need is a thing called a magnet.

I understand the principles of magnetism, but as the mint, despite the recent drop in metal prices, made a massive £35m in 2014/15 from the recycling of bronze and cupro-nickel coins they must have an efficient way of having large volumes of coins returned to them or an agent, therefore it is not beyond belief that they may have tried to retrieve error coins.   

[davidrj]

Sorting out non-magnetic coins is a cheap automated process, looking at individual coins for errors is not cost effective

Mind you I would put it past them to mint some more as "collectors coins"

[Rob]

3 hours ago, Nutsaboutcoins said:

As far as the undated 20p goes, I believe the RM issued a letter to banks and post offices for them to return any bags/rolls of un issued undated coins, as suggested it would be impossible to remove those that were already out in the big wide world. That said the RM are actively removing Bronze 1p & 2p coins for recycling, so they must have a way of "filtering" the coins in circulation.

The "Underwater" Aquatic Olympic 50p were only issued on cards, the dies were recut before coins destined for circulation were struck. There was a rumour at the time that all of the "underwater" 50p coins were issued through the same London dealer, but I have not seen this confirmed anywhere. 

Ian..    

I got mine from Mark Ray in Nottingham soon after they were released. That would suggest they were issued direct from the mint to whoever's order they were filling at the time.

[copper123]

2 hours ago, Nutsaboutcoins said:

I understand the principles of magnetism, but as the mint, despite the recent drop in metal prices, made a massive £35m in 2014/15 from the recycling of bronze and cupro-nickel coins they must have an efficient way of having large volumes of coins returned to them or an agent, therefore it is not beyond belief that they may have tried to retrieve error coins.   

I doubt very much  the whole profit from coin operations in 2014/15 was any more than is included in the anual report at around 11 million pounds , remember this includes all its other interests as well  such as melting down coins  and produceing new ones with the old (very heavy on energy use though).

To be honest the royal mint is actually not a very profitable company and does not "make a mint " like most people think

[Nutsaboutcoins]

From the Royal Mint's annual report page 8:

"...replacing older cupronickel 5p and 10p coins with new lower cost aRMour® plated coins, has driven significant volume for the business, while
simultaneously generating a cumulative total of over £35m for HM Treasury in recovery of legacy metals."

 

[copper123]

oh its over a number of years not just  2014-15 then

[Nutsaboutcoins]

1 hour ago, copper123 said:

oh its over a number of years not just  2014-15 then

Maybe you are right copper, but not how I read it. 

[copper123]

It must be over a number of years as the profit stated in anual report 14-15 is around 11 million . this includes and old coins melted and turned in to new £35 million does not just dissapear into thin air (unless your name is george osbourn)