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1971 New Penny Valuable ?

 
 
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Valued Member

Trinidad And Tobago
134 Posts
 Posted 04/21/2019  8:25 pm Show Profile   Bookmark this topic Add ikuna to your friends list Get a Link to this Message
Good evening guys, I have attached a related link and I crave your thoughts on this coin.
https://www.mirror.co.uk/money/rare...coin-7944008

Pillar of the Community
Australia
1315 Posts
 Posted 04/22/2019  01:09 am  Show Profile   Bookmark this reply Add Mr T to your friends list Get a Link to this Reply
I didn't get all the details from the article as the site redirected me but I think the higher prices are for those in better condition.
Valued Member
United Kingdom
148 Posts
 Posted 04/22/2019  03:37 am  Show Profile   Bookmark this reply Add PaddyB to your friends list Get a Link to this Reply
The 1971 Penny is extremely common, as is the 1971 2p coin. The Mirror (and several other papers) printed completely cocked-up stories about this about a year ago. They triggered a deluge of insane attempts to sell them at ridiculous prices on Ebay. (The one that said "Mega-rare 1971 2p coin - only £500 - I have 25 of them!" made me laugh. If he had 25 of them you would have thought he would have realised they were not "mega-rare"?)
There is a rare 2p - it is 1983, but only if it reads "New Pence" instead of "Two pence". All other dates are common.
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United Kingdom
571 Posts
 Posted 04/22/2019  03:48 am  Show Profile   Bookmark this reply Add Anaximander to your friends list Get a Link to this Reply
The Daily Mirror knows much about creating hype, but little about coins.

Your 1p is of interest value, but in financial terms worth just 1p. 1971 was the first year they were issued, but there are still loads of them around.
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United Kingdom
4949 Posts
 Posted 04/22/2019  04:21 am  Show Profile   Check NumisRob's eBay Listings Bookmark this reply Add NumisRob to your friends list Get a Link to this Reply


If the 1971 1p has any claim to fame, it is that it's the most common British coin ever issued! The total mintage, according to The Royal Mint website, was 1,521,666,250.

As it was the first year of the new decimal coinage, large numbers of these pennies were saved in Uncirculated condition at the time and sold by dealers in sets of 'Britain's First Decimal Coins and Last £sd Coins'. The Royal Mint also sold large numbers of sets in blue plastic wallets containing Uncirculated 1971 half, one and two pence coins together with 1968 5p and 10p coins. So, even in Uncirculated condition, 1971 UK pennies are still extremely common and only worth a few pence. In circulated condition they are worth no more than face value, and can still be found quite easily in change.
Valued Member
United Kingdom
148 Posts
 Posted 04/22/2019  10:08 am  Show Profile   Bookmark this reply Add PaddyB to your friends list Get a Link to this Reply
"The total mintage, according to The Royal Mint website, was 1,521,666,250."

Can you find the mintage figures on The Royal Mint website anymore? I know the larger denomination figures disappeared back in September, but now I can't find the smaller ones either. Their search system turns up a page with 2017 figures, and also mintages for some of the more recent sets, but nothing earlier.
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United Kingdom
1418 Posts
 Posted 04/22/2019  11:08 am  Show Profile   Bookmark this reply Add kena to your friends list Get a Link to this Reply
Here is the link that I use for The Royal Mint mintage figures:

https://www.royalmint.com/currency/...cy/mintages/

CCF member Member Since: 07/27/2008
Valued Member
Trinidad And Tobago
134 Posts
 Posted 04/22/2019  4:45 pm  Show Profile   Bookmark this reply Add ikuna to your friends list Get a Link to this Reply
Guys I hear you and I agree that over 1.5 Billion were minted and the article said that. My concern is what price were the 1971 1p and 2p HISTORICALLY sold for ? Does anyone know ?
Valued Member
United Kingdom
148 Posts
 Posted 04/23/2019  03:19 am  Show Profile   Bookmark this reply Add PaddyB to your friends list Get a Link to this Reply
"Here is the link that I use for The Royal Mint mintage figures:

https://www.royalmint.com/currency/.cy/mintages/"

Thanks for that - brilliant! Why won't their own internal search engine find that page I wonder?

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United Kingdom
4949 Posts
 Posted 04/23/2019  04:29 am  Show Profile   Check NumisRob's eBay Listings Bookmark this reply Add NumisRob to your friends list Get a Link to this Reply

Quote:
My concern is what price were the 1971 1p and 2p HISTORICALLY sold for ? Does anyone know ?

ikuna - these coins were very seldom sold by coin dealers in the UK as they were of practically no value. Until about 1975 it was still common to get uncirculated 1971 bronze coins in everyday change, so who would want to buy one?

I remember buying some coins from a dealer in London in the mid-1980s and he gave me 5p change entirely in uncirculated 1971 pennies, as he had so many in stock and was unable to sell them. It just wasn't worth while for a dealer to put one of these coins in a flip or a 2x2 and put a price ticket on it. It was even possible at the time to pick up sealed bank rolls of fifty 1971 pennies for a little over face value.

The only actual historic selling price I can come across is the original selling price for The Royal Mint uncirculated sets, which contained the 1971 half, one and two pence coins and 1968 five and ten pence coins. These were sold for five shillings and sixpence per set - twenty-seven and a half pence in decimal currency.

Someone on eBay currently has a roll of uncirculated 1971 UK pennies on sale for £9.99 which works out at less than 20 pence per coin:
https://www.ebay.co.uk/itm/Bank-rol...AOSwE9hceAOU
Valued Member
United Kingdom
262 Posts
 Posted 04/23/2019  12:50 pm  Show Profile   Bookmark this reply Add zookeeperz to your friends list Get a Link to this Reply
If you hunt around ebay you will find some comical sales mainly from USA sellers who for reasons best known to themselves have spent a kings ransom slabbing British coins that are for the most part worth less than £1. "Top Pop 1/0 MS-66RD 1967 Penny " yours for $75. $74.70 overpriced
Valued Member
Trinidad And Tobago
134 Posts
 Posted 04/23/2019  3:22 pm  Show Profile   Bookmark this reply Add ikuna to your friends list Get a Link to this Reply
I think that a coin's value goes beyond mintage figures.
If One Billion was minted and .9 Billion were destroyed then there is now a coin heading towards rarity.
Edited by ikuna
04/23/2019 3:31 pm
Pillar of the Community
United Kingdom
571 Posts
 Posted 04/23/2019  5:57 pm  Show Profile   Bookmark this reply Add Anaximander to your friends list Get a Link to this Reply
@ikuna

True, but in this case there are still lots of this one in circulation. The Royal Mint now produces pennies in steel coated with copper, and the 1971 1p is bronze. Bronze "coppers" are slowly being replaced in circulation by the steel ones, but there is a long way to go yet. They are not rare enough to be worth more than face value unless one or more of: they are in perfect condition, have some kind of mint error, or are dated to a year when they were only produced for sets and not circulation. Even then, they won't be worth a great deal more than face value.
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United States
35447 Posts
 Posted 04/23/2019  6:16 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Agree 100%.
Valued Member
United Kingdom
262 Posts
 Posted 04/26/2019  11:30 am  Show Profile   Bookmark this reply Add Hogarth to your friends list Get a Link to this Reply
A mint sealed roll of 50 uncirculated 1971 1p coins was offered on Ebay recently for £4.99.
No takers.
https://www.ebay.co.uk/itm/1971-Dec...ijkq9G0%253D &nosid=p2047675.l2557
Edited by Hogarth
04/26/2019 11:32 am
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