Queen Elizabeth II Coins Increase in Value After Her Death
Since Queen Elizabeth II’s death in September, the demand for currency bearing her image has increased, which has increased the coins' worth.
Nov. 7 2022, Published 5:29 p.m. ET
Two months after the death of Queen Elizabeth II, there are still billions of coins depicting her image in circulation. It could take years before the coins are phased out in exchange for coins with the new monarch, King Charles III, on them.
The queen’s image appears on 29 billion coins still in circulation as well as 4.5 billion sterling bank notes worth 80 billion pounds. During her 70-year reign, there have been five representations of Queen Elizabeth II since the first one was issued in 1953. Queen Elizabeth II is also pictured on coins in Commonwealth countries like Canada and Australia.
A 2015 Queen Elizabeth II coin.
How much are Queen Elizabeth coins worth?
Since the queen’s death, the demand for currency bearing her image has increased, which has increased the coins' worth. One Australian coin expert said the value of that country’s 2013 Purple Coronation $2 coin increased as high as $120, Reuters reports.
Several Queen Elizabeth coins have sold for thousands on eBay. On Oct. 23, a rare 2016 Canadian $250 Queen Elizabeth II 90th Birthday Coin sold for $12,871.
What are the most valuable Queen Elizabeth II coins?
The rarest and most valuable Queen Elizabeth II coin is the 2009 Kew Gardens 50p coin, said Jon White of the Britannia Coin Company in an interview with the U.K. Daily Mirror. Released in celebration of the gardens’ 250th anniversary, there were only 210,000 put in circulation, White told the Mirror. The coin was reissued in 2019 but doesn’t have the value of the original, which White estimates is worth £170 ($196).
A rare 1994 22-carat gold Double Sovereign £2 coin is the second most valuable Queen Elizabeth II coin, White says. He estimates the coin’s current value at £5,000 ($5,769). The third most valuable is a commemorative Edinburgh £1 coin issued in 2011. With less than 1 million of the coins available, their value has skyrocketed to over 30 times its original value, White told the Mirror.
How much is a Queen Elizabeth II penny worth?
Even a penny, called a pence in the U.K., with Queen Elizabeth II on it is more valuable now than before the queen died. In two recent separate eBay auctions, a 1971 New Pence 2 sold for more than $8,000.
One Queen Elizabeth II penny dated 1954 is estimated to be worth over $114,000, reports VIP Art Fair. The rare penny was the only one produced in 1954 and only used internally at the British Royal Mint, reports Old Currency Exchange.
How can I check the value of a Queen Elizabeth II coin?
If you happen to have a Queen Elizabeth II coin and want to determine if it’s worth anything, the best place to start your research is on the Royal Mint's official website. While this can give you some idea of the coin’s value, you should also check online auction sites like eBay and Live Auctioneers to see what similar coins have sold for.
When will Queen Elizabeth II coins be phased out?
It could take a couple of years before the Queen Elizabeth II coins are phased out of circulation. In October, the Royal Mint started producing the first coins featuring King Charles III. Those coins will be available to the public in December, the Independent reports.
On the new King Charles coins, he will be pictured facing in the opposite direction as his mother, the queen, was in her coin images, per tradition. Queen Elizabeth II faces right on coins, so her son, the King, will face left. Traditionally, kings aren’t pictured wearing crowns on the coins.
The Royal Mint is also creating a memorial of 50 pence in honor of the late queen, which will also be available in December, reports the Independent.