As we head out, can you cash in? Old 50p coins marking Britain JOINING the EU can sell for up to £100 thanks to Brexit
by George Nixon For Thisismoney.co.uk- Royal Mint has released three circulating EU 50p coins since the 1970s
- One, released in 1998, can still turn up in your change
- Another released in the early 90s is incredibly rare and can sell for nearly £100
The Royal Mint is currently in the process of releasing millions of 50p coins to commemorate Britain leaving the European Union on 31 January 2020.
This ranges from regular 50p coins that will soon turn up in your change to gold versions costing nearly £1,000.
But since the 1970s, it has also released a number of seven sided coins marking our membership in the bloc.
And online marketplace eBay suggests that as we leave, there has been heightened interest in coins commemorating dates, such us those for Britain joining the EU and marking the 25 year anniversary, with sellers putting prices up and people buying.
Uncirculated versions of a 1973 50p created by the Mint to mark our accession to what was then the European Community have seen their sale price on eBay increase from £3.99 on 29 January, to nearly £7 in the early hours of Brexit day.
This is Money has taken a look to see if there has been any spike in interest in the three commemorative coins produced by the Mint, one of which is very rare, and another which might even turn up in your change after 31 January 2020.
1. Joining the EEC in 1973
Britain officially joined what was then called the European Economic Community on 1 January 1973, following Parliament voting 301-284 in favour of joining which took place the previous July.
Britain decided to ratify its membership of the EEC in a referendum two years later in 1975, with the UK voting 67 per cent to 32 per cent to remain in the common market.
This referendum, of course, was reversed with the UK's 52-48 vote to leave in the 2016 referendum.
But to commemorate the UK's accession 47 years ago, the Mint created a coin showing nine ringed hands, representing the fact the UK, Denmark and Ireland had joined the six founding members of the EEC.
It was minted an enormous 89,775,000 times, nearly 3.5 times the number of people who voted in the 1975 referendum.
The coins are the old style 50p pieces, meaning they are larger and heavier than the ones in circulation now, and will not turn up in your change.
Likely, the only way to get hold of one is through eBay or otherwise purchasing it off of someone already in possession of the 50p.
According to Coin News Magazine's book Spend It? Save It? - a bible of coin prices - the 1973 50p has an estimated value of £2 thanks to a high mintage.
A check of eBay of actually circulated coins, rather than uncirculated ones sold directly to people, this valuation seems about right.
Even adjusting for increased interest in the run up to Brexit, This is Money has seen them selling for anywhere between £2.50 and £3.95.
According to one listing selling large numbers of the circulated 50p coins, the value has increased from £2.75 on 22 January, to £3.95 nine days later, suggesting there is increased demand for the coins and buyers were putting prices up as a result.
As the UK edges closer to the exit door at the end of the transition period, it is possible these could become even more sought after.
2. The UK's Presidency of the Council of the European Union in 1992/93
Hardly something which rolls off the tongue, but between July and December 1992 the UK under John Major took over the rotating presidency of the European Council.
Why the Royal Mint decided to mark this moment with a coin is unknown, given that the UK had done this three times before, and all EU countries take it in turns to take charge of the EU's upper legislative body.
Still, it decided to create a coin with a rather abstract design, showcasing a table with 10 chairs around it and 14 stars on the table.
The big news for collectors is that this old style 50p was minted just 109,000 times, making it incredibly rare.
You won't find it in your change - it is again, the old heavier style coin - but on eBay one circulated version had sold for £99.95, with another for that sum still available.
Meanwhile, an auction which started at £25 a few days ago is currently at £45, with three days left at the time of writing.
Spend It? Save It? gave it a value of £50, meaning it has substantially overshot that in the sale we could find.
As you might imagine, it was very difficult to find any circulated versions of this coin out there, but once Britain leaves the EU, there may well be more posted up on eBay as collectors look to cash in on its rarity.
3. An EU coin which COULD turn up in your change
So far, the two coins we have covered were minted long enough ago that they will not turn up in your change, due to them being the old style 50p coins.
But there may well be plenty of this third and final 50p still lurking out there.
In 1998, to commemorate the 25th anniversary of the UK's accession to the European Community - at this point a full-scale political union - the Royal Mint created just over 5million coins to mark the date.
It is worth noting that this is more coins than have initially been put into circulation on 31 January to mark the UK's exit from the EU, though over the course of 2020 10million will be put out there by the Mint.
This coin, minted during the premiership of Europhile Prime Minister Tony Blair, displays celebratory fireworks which explode into stars like those on the flag of the European Union.
Being relatively plentiful, these are estimated to have a value of just £2, but This is Money has seen circulated versions up for sale on eBay for anything from 99p to £3.50.
And though this still represents as much as seven times their face value, given they are still legal tender, it is likely the more enticing fact about the 1998 coins is that they can still turn up in your change.
Collectors may want to keep hold of them, as other numismatists may well be ready to pay a higher price to pick them up after Brexit.
Special Brexit 50p coins sell out... and crash the Mint's website
As well as the 10m Brexit coins, which read 'Peace, Prosperity and Friendship with all nations', that will enter circulation, the Royal Mint at midnight on 30 January put up for sale special 50p coins.
Among these were 1,500 limited edition gold proof coins, which were sold for £945. By the morning of 31 January, they had already sold out.
And such was the scramble in the early hours of the morning from those looking to get their hands on the gold, silver or brilliant uncirculated coins, the Mint's website crashed under the strain at around 1am.
When This is Money checked at about 10:30 in the morning on 31 January, we found ourselves in a queue of 167, though this is a much shorter one than when the Mint put out coins featuring popular children's book character the Gruffalo last year.
EDITOR'S DEALS OF THE WEEK
Current account
Current account
Top customer service
£100 cash switcher offer
Savings deal
Savings deal
1.68%, 18-month fix
£500 minimum balance
Cash Isa deal
Cash Isa deal
1.40% monthly interest
1-year fixed-rate cash Isa
Credit card
Credit card
26 months interest free, 1% balance transfer fee
20.95% APR interest
Broadband
Mobile
£60 voucher, 67 Mbps speeds
18-month contract, £24.95 per month
For current account rewards and interest conditions may apply eg. using provider's full switching service, min deposits and direct debits. For savings, access maybe limited, min/max deposits may apply. See T&Cs. Representative example: If you spend £1,200 at a purchase interest rate of 18.95% p.a. (variable) your representative rate will be 18.9% APR (variable).