Queen Elizabeth II: Money featuring Her Majesty's portrait could be worth thousands

Following the death of Queen Elizabeth II on 8th September, coin dealers have seen a surge in demand for coins and notes bearing the late monarch’s likeness.

Your money bearing Queen Elizabeth II's likeness could be more valuable than you think
© Max Mumby/Indigo / Getty Images
Your money bearing Queen Elizabeth II's likeness could be more valuable than you think

Although currency bearing Queen Elizabeth II’s effigy is set to remain in circulation for years, collectors are scrambling to secure rare coins and notes.

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Upsurge in value of coins and banknotes

According to the Guinness Book of World Records, the late Queen’s effigy appears on 33 currencies worldwide.

Reutersreports since Her Majesty’s death, coin dealers have experienced a surge in demand for coins and banknotes bearing the late monarch’s likeness. Queries are streaming in from all over the world, from both seasoned and novice collectors.

£20 notes bearing Queen Elizabeth II's effigy  Colin Watts / Unsplash

Peter Hutchison, a heritage coin specialist at Hattons of London, says the value is rising and can be expected to increase more as the demand for rare coins soars.

The publication reveals some of the coins and notes are the most sought-after:

  • The pre-World War II Canadian $20 bill featuring the then-Princess Elizabeth, aged 8
  • The Australian Platinum Jubilee 50-cent coin
  • The British Platinum Jubilee 50-pence coin
  • Sets issued in 1953 for Queen Elizabeth's coronation

Alliance Coin & Banknote owner Sean Isaacs, who is preparing for an auction in Canada, estimates that the pre-World War II $20 bill could fetch anywhere between $300 and ‘a couple of thousand’ depending on condition. The rare French version of the note could be worth up to $22,000 if in pristine condition.

Mr Isaacs expects high demand for commemorative coins to celebrate the Queen's reign. He is also impatient to see the King’s effigy, noting that the first coins struck with King Charles III’s effigy will be ‘another momentous day in collecting’.

King Charles III’s effigy

Reuters notes that countries bearing the British monarch on their currency might have to wait a while before seeing King Charles III on coins and banknotes.

The Royal Australian Mint notes that ‘coins bearing the new sovereign’s effigy’ are usually released a year after the coronation.

Neither the Royal Mint nor the Bank of England has commented on when the British public can expect to see King Charles’s face in their wallets. However, the new coins and notes are usually released before the coronation.

According to West Bridgford Wire, the Royal Mint has revealed the first official effigy of King Charles. It will feature on a memorial coin collection honouring the late Queen’s life and reign. It will be released on 3rd October. British sculptor Martin Jennings designed the set that was given the go-ahead by the King himself.

The Royal Mint said:

It is our honour to now strike the first UK effigy of His Majesty King Charles III on a coinage collection honouring the life and legacy of his mother Queen Elizabeth II

According to the publication, the commemorative 50p is due to enter general circulation.

Sources used:

- Reuters: 'Collectors clamor for rare Queen Elizabeth coins and notes'

- West Bridgford Wire: 'The first official effigy of King Charles III revealed on coins honouring Queen Elizabeth II'

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