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Commemorative Coinage: A Numismatic Journey from London to Paris
As the anticipation builds towards the Olympic and Paralympic Games in Paris, slated for July 2024, the Royal Mint has unveiled a commemorative 50 pence coin honoring Team GB and Paralympics GB athletes. Emblazoned with the figures of an Olympic runner and a Paralympic runner, the coin serves as a testament to the spirit of sportsmanship and the pursuit of excellence. However, unlike the 29 Olympic-themed 50 pence designs that flooded into general circulation ahead of the 2012 London Olympics, this limited edition commemorative piece will only be available as part of the annual coin set, priced at £69.
A Numismatic Legacy: The 50 Pence Coin's Olympic Lineage
The year 2011 holds the distinction of witnessing the highest number of 50 pence coin designs issued by the Royal Mint, with a staggering 29 Olympic-themed variations alone. This numismatic surge culminated in a total of 31 50 pence coin issues, including a commemorative WWF coin and a "brilliant uncirculated" set. The only year that comes close in terms of 50 pence coin issuance is 2019, which saw 21 commemorative coins minted for the 50th anniversary of the 50 pence piece itself.
The Value of Olympic Coins: Scarcity and Collectors' Desire
While over 52 million Olympic coins were minted ahead of the 2012 games, their value lies not in their abundance but in their rarity. Collectors have eagerly sought these coins, removing an estimated 75% (or 39 million) from circulation. As a result, even common Olympic 50 pence coins can command a premium above their face value.
The archery design, with over 3 million copies issued, is the least rare Olympic coin, fetching approximately £2.50. At the other end of the spectrum, the football coin, which features an intricate explanation of the offside rule, is the most sought-after Olympic coin, valued at £22.95 on eBay and £22 according to the Britannia Coin Company.
Rarity and Value: A Collectors' Guide
The scarcity index, a measure of a coin's rarity based on the number of coins that entered circulation, plays a crucial role in determining its value. Change Checker, a numismatic resource, classifies the football coin, with only 1.1 million circulated, as "very scarce," solidifying its position as the most coveted Olympic coin. In contrast, the archery coin is rated as "less common" with a scarcity index of just 17.
Other relatively rare models include wrestling, judo, triathlon, and tennis, each with fewer than 1.5 million copies minted and valued at £11, £15, £15, and £4.50, respectively. Less rare coins, such as those for athletics, canoeing, and aquatics, fetch around £3 for athletics and canoeing, and £2.50 for aquatics coins.
The Lucrative Realm of Non-Circulation Coins
The real monetary value in Olympic coinage lies in the coins that never made it into general circulation. One such rarity is an early version of the aquatics Olympic 50p design, featuring a swimmer with water flowing over their face. This design was withdrawn before it reached circulation and replaced with a clearer depiction of the swimmer's face. Collectors who managed to acquire these withdrawn coins can potentially sell them for as much as £1,000, according to Change Checker.
The first coin designed for the London Olympics, the athletics design featuring a high jumper drawn by 8-year-old Florence Jackson, also holds significant value. While over 2.2 million of the 2011-issued versions exist, only 19,722 were minted with "2009" stamped on the obverse, making them particularly sought-after by collectors.
Commemorative Coins: A Tangible Reminder of Sporting Triumph
Beyond their monetary value, commemorative coins serve as tangible reminders of sporting moments that have captured the hearts of nations. While the new Paris Olympics 50 pence coin will not enter circulation, it will undoubtedly become a cherished collectible for numismatists and enthusiasts alike. As the countdown to the Paris Games continues, it presents an opportune time to revisit the commemorative coins from past Olympics, such as those from Rio de Janeiro and Tokyo, and explore the stories and values they encapsulate.
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