The Queen's Beasts (coin)

Last updated

The Lion of England (Bullion Silver)
United Kingdom
Value5 pounds sterling
Mass62.42 g
Diameter38.61 mm
Thickness6.00 mm
EdgeMilled
Composition.9999 silver
Years of minting2016
Obverse
Queens-Beast-2016-Silver-2oz-Bullion-Coin2.png
DesignQueen Elizabeth II
Designer Jody Clark
Design date2015
Reverse
Queens-Beast-2016-Silver-2oz-Bullion-Coin.png
DesignThe Lion of England
DesignerJody Clark
Design date2016

TheQueen's Beasts coins are British coins issued by the Royal Mint in platinum, gold, and silver since 2016. [1] [2] [3] [4] [5] [6] [7] Each of the 10 beast coins in the series features a stylized version of one of the heraldic Queen's Beasts statues present at the coronation of Queen Elizabeth II representing her royal line of ancestry. The silver coin is notable as the first two-ounce United Kingdom silver bullion coin. [1] Engraver Jody Clark designed the entire series. [1] In December 2016, a full line of proof-quality coins was announced. [8] In 2017, the mint began producing a platinum version of the coin. In April 2021, the Royal Mint issued an eleventh "Completer Coin" that featured all 10 of the Queen's Beasts, taking the series to 11 coins in total. The April 2021 release included a "one of a kind" gold coin weighing 10 kg and a denominated value of £10,000. Based upon the UK spot price at the time of release, the 10 kg gold coin had an intrinsic scrap value of approximately £411,000. It was widely reported that the 10 kg gold coin was the heaviest gold coin the Royal Mint had ever produced and that it had taken 400 hours to produce, four days to polish and has been described as a "Masterwork". The Royal Mint announced that Completer Coin completes the Queen's Beasts commemorative collection. [9]

Contents

Single coins were delivered in a plastic coin capsule or flip, as chosen when ordering. Bulk orders were delivered in the same containers used for packaging Britannia bullion coins: 10 coins per tube, 20 tubes per box. The tube for silver can potentially hold a total of 14 coins. Proof coins were typically delivered in a coin capsule along with a display box and a booklet explaining the beast's significance in heraldic art.

On February 18, 2016, Wholesale Direct Metals announced that they would be the exclusive North American distributor for the Royal Mint of the Lion of England bullion coins. [10] By mid-2016, the coins were widely available for sale and trade from a variety of sources. The proof versions were widely available in December 2016.

Common obverse

The obverse features the fifth definitive coinage portrait of Queen Elizabeth II, [11] surrounded by the text "ELIZABETH II • D • G • REG • F • D • (2/5/10/25/100/500/1000) POUNDS". DG REG FD is an abbreviation of the Latin "Dei Gratia Regina Fidei Defensor," meaning "By the Grace of God, Queen, Defender of the Faith". It is a form of the style of the British sovereign of Queen Elizabeth II common on coins of the Pound Sterling. The initials of artist Jody Clark appear just below the portrait.

Reverse on bullion coins

The reverse features a stylized rendition of the beast surrounded by the text "[BEAST'S NAME] • (¼/1/2/10)oz • FINE (GOLD/SILVER/PLATINUM) • 999.(5/9) • (2016/-/2021)". Jody Clark's initials appear just below the shield, offset either to the left or to the right.

Reverse on proof and brilliant uncirculated coins

The reverse features a slightly different stylized rendition of the beast from the bullion version, surrounded by the text "[BEAST'S NAME] • (2016/-/2021)". Jody Clark's initials appear within the shield, offset either to the left or to the right.

I. Lion of England

The Lion of England is the first in the series of Queen's Beasts coins, released in March, 2016. [1] The initial allocation of bullion coins from the Royal Mint sold out [12] and were not available again until mid-June 2016. Proof versions were announced in November 2016.

II. The Griffin of Edward III

The Griffin of Edward III is the second in the series of Queen's Beasts bullion coins, released in 2017.

III. Red Dragon of Wales

The Red Dragon of Wales is the third in the series of Queen's Beasts bullion coins, released in 2017.

IV. Black Bull of Clarence

The Black Bull of Clarence is the fourth in the series of Queen's Beasts bullion coins, released 2018.

Obverse

Beginning with this fourth release, the obverse background of the bullion versions was changed from a stucco-like finish to an arcing pattern of many small diamonds.

V. Unicorn of Scotland

The Unicorn of Scotland is the second in the series of Queen's Beasts bullion coins, released in 2018.

VI. Yale of Beaufort

The Yale of Beaufort is the sixth in the series of Queen's Beasts bullion coins, released in 2019.

VII. Falcon of the Plantagenets

The Falcon of the Plantagenets is the seventh in the series of Queen's Beasts bullion coins, released in 2019.

VIII. White Lion of Mortimer

The White Lion of Mortimer is the eighth in the series of Queen's Beasts bullion coins, released in 2020

IX. White Horse of Hanover

The White Horse of Hanover is the ninth in the series of Queen's Beasts bullion coins, released in 2020.

X. White Greyhound of Richmond

The White Greyhound of Richmond is the tenth coin in this series, Released in 2021

XI. The Completer Coin

The "Completer Coin" is a commemorative of the series and it brings together all ten of the Queen's Beasts on one coin. It is presented in non-bullion variants with a booklet detailing the fascinating history and symbolism behind each beast. Released in April 2021. [13]

The Completer Coin introduced 2 kg and 10 kg gold versions featuring the popular Queen's Beasts designs for the first time, and this commemoration of the series does not include several versions in the actual series such as 1/4oz gold in both proof and bullion formats.[ citation needed ]

Royal Mint's pricing strategy on the Completer Coin

Analysis of the recommended retail price (RRP) for each of the Completer Coin variants at time of issue and comparing these with the intrinsic value provides an insight into Royal Mint's pricing strategy. The RRP changed throughout the series. [14] The spot price per gram on 30 April 2021 for gold was £40.90; and for silver was £0.60. [15] [16]

An analysis of The Collector's Coin RRP and intrinsic value.
CoinRRPWeight in
grams
Intrinsic value
at launch
Combined Royal Mint profit,
manufacturing, distribution, and
VAT (silver only) costs
(RRP minus the intrinsic value of
raw materials)
One ounce gold proof coin£2,315.0031.210£1,276.49£1,038.51
Five-ounce gold proof coin£10,525.00156.295£6392.47£4,132.53
Gold proof kilo coin£63,380.001005.000£41,104.50£22,275.50
Gold proof 2 kilo coin£139,200.002010.000£82,209.00£56,991.00
Gold proof 10 kilo coinPrice on application10,005.000£409,204.50N/A
One ounce silver proof coin£92.5031.210£18.73£73.77
Five-ounce silver proof coin£455.00156.295£93.78£361.22
Ten-ounce silver proof coin£865.00312.590£187.55£677.45
Silver proof kilo coin£2,270.001,005.000£603.00£1,667.00
£5 brilliant uncirculated coin£13.0028.280est. £0.50 [17] £12.50

The estimate of the intrinsic value of the £5 cupro nickel coin is based upon the Royal Mint's statement made when making the business case to change the composition of the material used to produce the 10p coin from cupro nickel to steel. The statement made implied that the intrinsic value of the metal used was less than the face value of the 10p coin. When an economy uses a fiat currency, it is important that the face value of a coin is greater than the intrinsic value to prevent opportunists hoarding coins and then melting them for scrap to make a profit as was seen with the old copper 1p and 2p coins that had an intrinsic value 50% above their face value and thus the government were forced to replace them.

The intrinsic value of the 10p coin was widely reported as being close to the face value and given this, dividing a face value of old 10p by the weight of the cupro nickel in the coin (6.5g), and multiplying that intrinsic value per gram by the weight of the £5 brilliant coin (£28.28), the estimate of about £0.50 was produced. [17] This figure shows that The Royal Mint is able to produce, market, package and distribute a high quality coin and make a profit for under £12.50 a coin.

Specifications

The following table contains specifications for each coin. [18] [19] [20] [8]

QualityPurityMetalEditionFace ValueWeightDiameter
Bullion.9999Gold1 oz£10031.21 g32.69 mm
Bullion.9999Gold¼ oz£257.80 g22.00 mm
Bullion.9999Silver10 oz£10311.055 g89.00 mm
Bullion.9999Silver2 oz£562.42 g38.61 mm
Bullion.9995Platinum1 oz£10031.21 g32.69 mm
Proof.999Gold10 kg£10,00010,005.00 g200.00 mm
Proof.999Gold2 kg£2,0002,010.00 g150.00 mm
Proof.999Gold1 kg£1,0001,005.00 g100.00 mm
Proof.9999Gold5 oz£500156.30 g50.00 mm
Proof.9999Gold1 oz£10031.21 g32.69 mm
Proof.9999Gold¼ oz£257.80 g22.00 mm
Proof.999Silver1 kg£5001,005.00 g100.00 mm
Proof.999Silver10 oz£10312.59 g65.00 mm
Proof.999Silver5 oz£10156.30 g65.00 mm
Proof.999Silver1 oz£231.21 g38.61 mm
Brilliant UncirculatedCupro-nickel1 oz£528.28 g38.61 mm

Mintage

The following table has the most recent available information on the numbers of coins minted by year and design. [8] [21] [22]

PositionBullion
Release
Order
ObverseReverseBullionProofBrilliant Uncirculated
.9999.9995.999.9999.999Cupro-nickel
GoldSilverPlatinumGoldSilver
1 oz¼ oz10 oz2 oz1 oz10 kg2 kg1 kg5 oz1 oz¼ oz1 kg10 oz5 oz1 oz¼ oz (RP)1 oz
£100£25£10£5£100£10,000£2,000£1,000£500£100£25£500£10£10£250p£5
I1 Queen Elizabeth II Lion of England 2016
Unl.
2016
Unl.
2017
Unl.
2016
Unl.
2017
Unl.
2017
25
2017
125
2017
1000
2017
2500
2017
600
2017
1250
2017
2500
2017
8500
2021
1250
2017
Unl.
2018
Ltd.
2019
Ltd.
II4 Queen Elizabeth II Unicorn of Scotland 2018
Unl.
2018
Unl.
2019
Unl.
2018
Unl.
2019
Unl.
2017
13
2017
85
2017
475
2017
1500
2017
225
2017
850
2017
750
2017
6250
2021
1250
2017
Unl.
III3 Queen Elizabeth II Red Dragon of Wales 2017
Unl.
2017
Unl.
2018
Unl.
2017
Unl.
2018
Unl.
2018
13
2018
90
2018
500
2018
1500
2018
200
2018
700
2018
500
2018
6000
2021
1250
2018
Unl.
IV5 Queen Elizabeth II Black Bull of Clarence 2018
Unl.
2018
Unl.
2019
Unl.
2018
Unl.
2019
Unl.
2018
10
2018
75
2018
400
2018
1500
2018
150
2018
600
2018
700
2018
4360
2021
1250
2018
Unl.
V6 Queen Elizabeth II Falcon of the Plantagenets 2019
Unl.
2019
Unl.
2020
Unl.
2019
Unl.
2020
Unl.
2019
13
2019
85
2019
445
2019
1250
2019
125
2019
400
2019
550
2019
5650
2021
1250
2019
Unl.
VI7 Queen Elizabeth II Yale of Beaufort 2019
Unl.
2019
Unl.
2020
Unl.
2019
Unl.
2020
Unl.
2019
13
2019
70
2019
445
2019
1000
2019
120
2019
240
2019
335
2019
4360
2021
1250
2019
Unl.
VII8 Queen Elizabeth II White Lion of Mortimer 2020
Unl.
2020
Unl.
2021
Unl.
2020
Unl.
2021
Unl.
2020
13
2020
70
2020
445
2020
1000
2020
120
2020
240
2020
335
2020
4360
2021
1250
2020
Unl.
VIII9 Queen Elizabeth II White Horse of Hanover 2020
Unl.
2020
Unl.
2021
Unl.
2020
Unl.
2021
Unl.
2020
Unl.
2020
69
2020
435
2020
1000
2020
115
2020
235
2020
315
2020
4310
2021
1250
2020
Unl.
IX10 Queen Elizabeth II White Greyhound of Richmond 2021
Unl.
2021
Unl.
2022 Unl2021
Unl.
N/R2021
10
2021
69
2021
425
2021
1010
2021
80
2021
195
2021
370
2021
3960
2021
1250
2021
Unl.
X2 Queen Elizabeth II Griffin of Edward III 2017
Unl.
2017
Unl.
2018
Unl.
2017
Unl.
2018
Unl.
2021
10
2021
115
2021
500
2021
1240
2021
70
2021
140
2021
290
2021
4400 [23]
2021
1250
2021
Unl.
XI11 Queen Elizabeth II The Completer Coin featuring

all 10 of the Queen's Beasts

2021
Unl.
2021
Unl.
2021

1

2021

4

2021

16

2021

135

2021

625

2021

75

2021

125

2021

300

2021

7100

2021
Unl.

See also

Related Research Articles

<span class="mw-page-title-main">Quarter (United States coin)</span> Current denomination of United States currency

The quarter, short for quarter dollar, is a United States coin worth 25 cents, one-quarter of a dollar. The coin sports the profile of George Washington on its obverse, and after 1998 its reverse design has changed frequently. It has been produced on and off since 1796 and consistently since 1831.

<span class="mw-page-title-main">Coins of the pound sterling</span> British current and historic coinage

The standard circulating coinage of the United Kingdom, British Crown Dependencies and British Overseas Territories is denominated in pennies and pounds sterling, and ranges in value from one penny sterling to two pounds. Since decimalisation, on 15 February 1971, the pound has been divided into 100 (new) pence. Before decimalisation, twelve pence made a shilling, and twenty shillings made a pound.

<span class="mw-page-title-main">Fifty pence (British coin)</span> British decimal coin – half of one pound

The British decimal fifty pence coin is a denomination of sterling coinage worth 12 of one pound. Its obverse features the profile of the current Monarch since the coin's introduction in 1969. As of October 2022, five different royal portraits have been used.

<span class="mw-page-title-main">Five pence (British coin)</span> Coin of the United Kingdom

The British decimal five pence coin is a denomination of sterling coinage worth 5100 of a pound. Its obverse has featured the profile of Queen Elizabeth II since the coin’s introduction on 23 April 1968, replacing the shilling in preparation for decimalisation in 1971. It remained the same size as the one shilling coin, which also remained legal tender, until a smaller version was introduced in June 1990 with the older coins being withdrawn on 31 December 1990. Four different portraits of the Queen have been used, with the latest design by Jody Clark being introduced in 2015. The second and current reverse, featuring a segment of the Royal Shield, was introduced in 2008.

<span class="mw-page-title-main">Ten pence (British coin)</span> British decimal coin

The British decimal ten pence coin is a denomination of sterling coinage worth 110 of a pound. Its obverse has featured the profile of Queen Elizabeth II since the coin's introduction in 1968, to replace the florin coin in preparation for decimalisation in 1971. It remained the same size as the florin coin until a smaller version was introduced 30 September 1992, with the older coins being withdrawn on 30 June 1993. Four different portraits of the Queen have been used on the coin; the latest design by Jody Clark was introduced in 2015. The second and current reverse, featuring a segment of the Royal Shield, was introduced in 2008.

<span class="mw-page-title-main">Penny (British decimal coin)</span> Coin, one-hundredth of a pound sterling

The British decimal one penny (1p) coin is a unit of currency and denomination of sterling coinage worth 1100 of one pound. Its obverse featured the profile of Queen Elizabeth II since the coin's introduction on 15 February 1971, the day British currency was decimalised until her death on 8 September 2022. A new portrait featuring King Charles III was introduced on 30 September 2022, designed by Martin Jennings. Four different portraits of the Queen were used on the obverse; the last design by Jody Clark was introduced in 2015. The second and current reverse, designed by Matthew Dent, features a segment of the Royal Shield and was introduced in 2008. The penny is the lowest value coin ever to circulate in the United Kingdom.

<span class="mw-page-title-main">Two pence (British decimal coin)</span> British decimal coin

The British decimal two pence coin is a denomination of sterling coinage equalling 2100 of a pound. Since the coin's introduction on 15 February 1971, the year British currency was decimalised, its obverse has featured four profiles of Queen Elizabeth II. In 2008 the design on its reverse changed from the original depiction of a plume of ostrich feathers with a coronet to a segment of the Royal Shield.

<span class="mw-page-title-main">Two pound coin</span> British coin denominating two pounds sterling

The British two pound coin (£2) is a denomination of sterling coinage. Its obverse has featured the profile of Queen Elizabeth II since the coin’s introduction. Three different portraits of the Queen have been used, with the current design by Jody Clark being introduced in 2015. The reverse design features Britannia.

<span class="mw-page-title-main">Crown (British coin)</span> British coin introduced in 1707

The British crown was a denomination of sterling coinage worth 14 of one pound, or 5 shillings, or 60 (old) pence. The crown was first issued during the reign of Edward VI, as part of the coinage of the Kingdom of England.

<span class="mw-page-title-main">American Silver Eagle</span> Silver bullion coin of the United States

The American Silver Eagle is the official silver bullion coin of the United States.

<span class="mw-page-title-main">American Gold Eagle</span> Gold bullion coin of the United States

The American Gold Eagle is an official gold bullion coin of the United States. Authorized under the Gold Bullion Coin Act of 1985, it was first released by the United States Mint in 1986. Because the term "eagle" also is the official United States designation for pre-1933 ten dollars gold coins, the weight of the bullion coin is typically used when describing American Gold Eagles to avoid confusion. This is particularly true with the 1/4-oz American Gold Eagle, which has a marked face value of ten dollars.

<span class="mw-page-title-main">American Platinum Eagle</span> Platinum bullion coin of the United States

The American Platinum Eagle is the official platinum bullion coin of the United States. In 1995, Director of the United States Mint Philip N. Diehl, American Numismatic Association President David L. Ganz, and Platinum Guild International Executive Director Jacques Luben began the legislative process of creating the Platinum Eagle. After over two years of work, the 99.95% fine platinum coins were released by the United States Mint in 110, 14, 12 and 1 troy oz denominations. In late 2008, the fractional denominations were discontinued, leaving only the one ounce denomination. The Platinum Eagle is authorized by the United States Congress, and is backed by the United States Mint for weight, content, and purity.

<span class="mw-page-title-main">Britannia (coin)</span> British bullion coins

Britannia coins are British bullion coins issued by the Royal Mint in gold since 1987, in silver since 1997, and in platinum since 2018. The reverse of the coin patterns feature various depictions of Britannia, a feminine personification of the United Kingdom while the obverse features a monarch effigy with the legend around it.

The Tuvaluan dollar is one of the currencies of Tuvalu, whose unofficial international currency code is TVD. Tuvalu has never had banknotes of its own, and has been issuing coins since 1976. However, the Tuvaluan dollar is used as a unit of account, and is pegged to the Australian dollar at parity. From 1966 to 1976, Tuvalu officially used the Australian dollar. In 1976, Tuvalu began issuing its own coins, which continue to circulate alongside Australian coins. Tuvalu continues to use Australian banknotes. Tuvaluan coins are not legal tender in Australia. Similar to the Faroese króna's relationship to the Danish krone and the Panamanian balboa's relationship to the United States dollar, the Tuvaluan dollar is not an independent currency, but a variation of the Australian dollar.

<span class="mw-page-title-main">Australian fifty-cent coin</span> Current denomination of Australian currency

The twelve-sided Australian fifty-cent coin is the third-highest denomination coin of the Australian dollar and the largest in terms of size in circulation. It is equal in size and shape to the Cook Island $5 coin, and both remain the only 12-sided coins in the southern hemisphere. It was introduced in 1969 to replace the round fifty-cent coin issued in 1966.

The Canadian Silver Maple Leaf is a silver bullion coin that is issued annually by the Government of Canada since 1988. It is produced by the Royal Canadian Mint.

<span class="mw-page-title-main">American Buffalo (coin)</span> US $50 coin containing 1oz pure gold

The American Buffalo, also known as a gold buffalo, is a 24-karat bullion coin first offered for sale by the United States Mint in 2006. The coin follows the design of the Indian Head nickel and has gained its nickname from the American Bison on the reverse side of the design. This was the first time the United States Government minted pure (.9999) 24-karat gold coins for the public. The coin contains one-troy ounce (31.1g) of pure gold and has a legal tender (face) value of US$50. Due to a combination of the coin's popularity and the increase in the price of gold, the coin's value has increased considerably. The initial 2006 U.S. Mint price of the proof coin was $800. In 2007 the price was $899.95, $1,410 in 2009, and $2,010 in 2011.

One of the most highly profitable aspects of the Royal Canadian Mint's enterprise is in its Numismatic product line. The euphoria surrounding the year 2000 led to the birth of the Millennium 25-cent coin program. The numismatic line included proof quality coins sold individually or as a complete set. This level of excess would come to signify the coming decade. The number of numismatic releases would increase on an annual basis starting in 2003. Numismatic three cents, five cents, and ten cents would be introduced, along with numismatic three dollars and eight dollars. Luxury coins would not be immune to the dramatic increases that ensued. Coins with face values of 250, 300 and 350 dollars would be introduced by 2006.

The Singapore Mint is a Singaporean mint manufacturer. The Singapore Mint is a fully owned subsidiary of Sembcorp Industries.

<span class="mw-page-title-main">Lunar Series (British coin)</span>

The Lunar or Shēngxiào (生肖) coin series is a collection of British coins issued by the Royal Mint featuring the Chinese zodiac in celebration of Chinese New Year. First issued in 2014, the series has been minted in varying denominations of silver and gold as both bullion and proof.

References

  1. 1 2 3 4 The Queen’s Beasts are brought to life in a new bullion coin range. The Royal Mint Blog 31 March 2016
  2. "Royal Mint Launches Queen's Beasts". Coin World. Retrieved 13 August 2016.
  3. "Royal Mint surprises with Queens Beasts, new gold and silver bullion coin series – AgAuNEWS". AgAuNEWS. 25 March 2016. Retrieved 13 August 2016.
  4. "Royal British Mint Issues New "Queen's Beasts" Gold and Silver Bullion Coins — World Mint News Blog". world.mintnewsblog.com. Retrieved 14 August 2016.
  5. "Royal Mint begins new bullion coin program | Coin World" . Retrieved 13 August 2016.
  6. lawrieongold (30 March 2016). "UK's Royal Mint introduces 'The Queen's Beasts' gold and silver coins". lawrieongold. Retrieved 14 August 2016.
  7. Rodger, James (30 March 2016). "New £100 coin unveiled – here's how to get one" . Retrieved 14 August 2016.
  8. 1 2 3 "Queens Beasts Lion coin now available in a full range of gold and silver proof sizes – AgAuNEWS". agaunews.com. Retrieved 5 December 2016.
  9. "Royal Mint unveils largest ever coin - a 10kg solid gold beast". The Week UK. Retrieved 1 May 2021.
  10. "Wholesale Direct Metals Chosen by The Royal British Mint to Be the Exclusive North American Distributor for the 2016 Royal British Lion Gold & Silver Coins" . Retrieved 13 August 2016.
  11. "The fifth portrait of The Queen is unveiled". 2 March 2015. Retrieved 13 August 2016.
  12. "Queen's Beasts Secondary Market Prices Too High". Coin World. Retrieved 13 August 2016.
  13. Harris, Sophie (29 April 2021). "Royal Mint releases 10kg gold coin that is largest ever made for Queen's Beasts collection". Express.co.uk. Retrieved 29 April 2021.
  14. "The Royal Mint unveils its largest coin in its 1,100-year history – a 10 kilo gold 'Masterwork'". www.royalmint.com. Retrieved 1 May 2021.
  15. Price, Gold. "Gold Price". Gold Price. Retrieved 1 May 2021.
  16. "أحدث أسعار الذهب مباشرة - GOLD PRICE LIVE" (in Arabic). 6 May 2023. Retrieved 2 February 2024.
  17. 1 2 "Cupro Nickel Replacement Programme | The Royal Mint". www.royalmint.com. Retrieved 1 May 2021.
  18. "Buy The Queen's Beasts 2016 – The Lion – 1 oz Gold Bullion Coin". www.royalmintbullion.com. Retrieved 14 August 2016.
  19. "Buy The Queen's Beasts 2016 – The Lion – 1/4 oz Gold Bullion Coin". www.royalmintbullion.com. Retrieved 14 August 2016.
  20. "Buy The Queen's Beasts 2016 – The Lion – 2 oz Silver Bullion Coin". www.royalmintbullion.com. Retrieved 14 August 2016.
  21. "The Queen's Beasts Series". www.royalmint.com. Retrieved 26 April 2018.
  22. "The Queen's Beasts 2021 UK Quarter-Ounce Silver Proof Ten-Coin Set". www.royalmint.com. Retrieved 7 July 2021.
  23. "The Royal Mint unleashes the Griffin of Edward III as the final beast to join the Queen's Beasts collection". www.royalmint.com. Retrieved 13 February 2021.