The Queen's Beasts (coin)
United Kingdom | |
| Value | 5 pounds sterling |
|---|---|
| Mass | 62.42 g |
| Diameter | 38.61 mm |
| Thickness | 6 mm |
| Edge | Milled |
| Composition | .9999 silver |
| Years of minting | 2016 |
| Obverse | |
 | |
| Design | Queen Elizabeth II |
| Designer | Jody Clark |
| Design date | 2015 |
| Reverse | |
 | |
| Design | The Lion of England |
| Designer | Jody Clark |
| Design date | 2016 |
The Queen'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]
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
[edit]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
[edit]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
[edit]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
[edit]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
[edit]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
[edit]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
[edit]The Black Bull of Clarence is the fourth in the series of Queen's Beasts bullion coins, released 2018.
Obverse
[edit]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
[edit]The Unicorn of Scotland is the second in the series of Queen's Beasts bullion coins, released in 2018.
VI. Yale of Beaufort
[edit]The Yale of Beaufort is the sixth in the series of Queen's Beasts bullion coins, released in 2019.
VII. Falcon of the Plantagenets
[edit]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
[edit]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
[edit]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
[edit]The White Greyhound of Richmond is the tenth coin in this series, Released in 2021
XI. The Completer Coin
[edit]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 1/4 oz gold in both proof and bullion formats.[citation needed]
Royal Mint's pricing strategy on the Completer Coin
[edit]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 £40.9; and for silver was £0.6.[15][16]
| Coin | RRP | Weight 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 | 31.21 | £1,276.49 | £1,038.51 |
| Five-ounce gold proof coin | £10,525 | 156.295 | £6392.47 | £4,132.53 |
| Gold proof kilo coin | £63,380 | 1,005 | £41,104.5 | £22,275.5 |
| Gold proof 2 kilo coin | £139,200 | 2,010 | £82,209 | £56,991 |
| Gold proof 10 kilo coin | Price on application | 10,005 | £409,204.5 | N/A |
| One ounce silver proof coin | £92.5 | 31.21 | £18.73 | £73.77 |
| Five-ounce silver proof coin | £455 | 156.295 | £93.78 | £361.22 |
| Ten-ounce silver proof coin | £865 | 312.59 | £187.55 | £677.45 |
| Silver proof kilo coin | £2,270 | 1,005 | £603 | £1,667 |
| £5 brilliant uncirculated coin | £13 | 28.28 | est. £0.5[17] | £12.5 |
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 (6.5 g), and multiplying that intrinsic value per gram by the weight of the £5 brilliant coin (£28.28), the estimate of about £0.5 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 £12.5 a coin.
Specifications
[edit]The following table contains specifications for each coin.[18][19][20][8]
| Quality | Purity | Metal | Edition | Face Value | Weight | Diameter |
|---|---|---|---|---|---|---|
| Bullion | .9999 | Gold | 1 oz | £100 | 31.21 g | 32.69 mm |
| ¼ oz | £25 | 7.8 g | 22 mm | |||
| Silver | 10 oz | £10 | 311.055 g | 89 mm | ||
| 2 oz | £5 | 62.42 g | 38.61 mm | |||
| .9995 | Platinum | 1 oz | £100 | 31.21 g | 32.69 mm | |
| Proof | .999 | Gold | 10 kg | £10,000 | 10,005 g | 200 mm |
| 2 kg | £2,000 | 2,010 g | 150 mm | |||
| 1 kg | £1,000 | 1,005 g | 100 mm | |||
| .9999 | 5 oz | £500 | 156.3 g | 50 mm | ||
| 1 oz | £100 | 31.21 g | 32.69 mm | |||
| ¼ oz | £25 | 7.8 g | 22 mm | |||
| .999 | Silver | 1 kg | £500 | 1,005 g | 100 mm | |
| 10 oz | £10 | 312.59 g | 65 mm | |||
| 5 oz | 156.3 g | |||||
| 1 oz | £2 | 31.21 g | 38.61 mm | |||
| Brilliant Uncirculated | Cupro-nickel | £5 | 28.28 g | |||
Mintage
[edit]The following table has the most recent available information on the numbers of coins minted by year and design.[8][21][22]
| Position | Bullion Release Order |
Obverse | Reverse | Bullion | Proof | Brilliant Uncirculated | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| .9999 | .9995 | .999 | .9999 | .999 | Cupro-nickel | |||||||||||||||||
| Gold | Silver | Platinum | Gold | Silver | ||||||||||||||||||
| 1 oz | ¼ oz | 10 oz | 2 oz | 1 oz | 10 kg | 2 kg | 1 kg | 5 oz | 1 oz | ¼ oz | 1 kg | 10 oz | 5 oz | 1 oz | ¼ oz (RP) | 1 oz | ||||||
| £100 | £25 | £10 | £5 | £100 | £10,000 | £2,000 | £1,000 | £500 | £100 | £25 | £500 | £10 | £10 | £2 | 50p | £5 | ||||||
| I | 1 | Queen Elizabeth II | Lion of England | 2016 Unl. |
2016 Unl. |
2017 Unl. |
2016 Unl. |
2017 Unl. |
2017 25 |
2017 125 |
2017 1,000 |
2017 2,500 |
2017 600 |
2017 1,250 |
2017 2,500 |
2017 8,500 |
2021 1,250 |
2017 Unl. |
2018 Ltd. |
2019 Ltd. | ||
| II | 4 | Unicorn of Scotland | 2018 Unl. |
2018 Unl. |
2019 Unl. |
2018 Unl. |
2019 Unl. |
2017 13 |
2017 85 |
2017 475 |
2017 1,500 |
2017 225 |
2017 850 |
2017 750 |
2017 6,250 |
2017 Unl. | ||||||
| III | 3 | Red Dragon of Wales | 2017 Unl. |
2017 Unl. |
2018 Unl. |
2017 Unl. |
2018 Unl. |
2018 13 |
2018 90 |
2018 500 |
2018 1,500 |
2018 200 |
2018 700 |
2018 500 |
2018 6,000 |
2018 Unl. | ||||||
| IV | 5 | Black Bull of Clarence | 2018 Unl. |
2018 Unl. |
2019 Unl. |
2018 Unl. |
2019 Unl. |
2018 10 |
2018 75 |
2018 400 |
2018 150 |
2018 600 |
2018 700 |
2018 4,360 | ||||||||
| V | 6 | Falcon of the Plantagenets | 2019 Unl. |
2019 Unl. |
2020 Unl. |
2019 Unl. |
2020 Unl. |
2019 13 |
2019 85 |
2019 445 |
2019 1,250 |
2019 125 |
2019 400 |
2019 550 |
2019 5,650 |
2019 Unl. | ||||||
| VI | 7 | Yale of Beaufort | 2019 70 |
2019 1,000 |
2019 120 |
2019 240 |
2019 335 |
2019 4,360 | ||||||||||||||
| VII | 8 | White Lion of Mortimer | 2020 Unl. |
2020 Unl. |
2021 Unl. |
2020 Unl. |
2021 Unl. |
2020 13 |
2020 70 |
2020 445 |
2020 1,000 |
2020 120 |
2020 240 |
2020 335 |
2020 4,360 |
2020 Unl. | ||||||
| VIII | 9 | White Horse of Hanover | 2020 Unl. |
2020 69 |
2020 435 |
2020 115 |
2020 235 |
2020 315 |
2020 4,310 | |||||||||||||
| IX | 10 | White Greyhound of Richmond | 2021 Unl. |
2021 Unl. |
2022 Unl | 2021 Unl. |
N/R | 2021 10 |
2021 69 |
2021 425 |
2021 1,010 |
2021 80 |
2021 195 |
2021 370 |
2021 3,960 |
2021 Unl. | ||||||
| X | 2 | Griffin of Edward III | 2017 Unl. |
2017 Unl. |
2018 Unl. |
2017 Unl. |
2018 Unl. |
2021 115 |
2021 500 |
2021 1,240 |
2021 70 |
2021 140 |
2021 290 |
2021 4,400[23] | ||||||||
| XI | 11 | 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
7,100 |
|||||||||
See also
[edit]
- Bullion
- Bullion coin
- Coins of the pound sterling
- Gold as an investment
- Inflation hedge
- List of British banknotes and coins
- Platinum as an investment
- Royal Mint
- Silver as an investment
- The Queen's Beasts
References
[edit]- ^ a b c d The Queen’s Beasts are brought to life in a new bullion coin range. The Royal Mint Blog 31 March 2016
- ^ "Royal Mint Launches Queen's Beasts". Coin World. Retrieved 13 August 2016.
- ^ "Royal Mint surprises with Queens Beasts, new gold and silver bullion coin series – AgAuNEWS". AgAuNEWS. 25 March 2016. Retrieved 13 August 2016.
- ^ "Royal British Mint Issues New "Queen's Beasts" Gold and Silver Bullion Coins — World Mint News Blog". world.mintnewsblog.com. Retrieved 14 August 2016.
- ^ "Royal Mint begins new bullion coin program | Coin World". Retrieved 13 August 2016.
- ^ lawrieongold (30 March 2016). "UK's Royal Mint introduces 'The Queen's Beasts' gold and silver coins". lawrieongold. Retrieved 14 August 2016.
- ^ Rodger, James (30 March 2016). "New £100 coin unveiled – here's how to get one". Retrieved 14 August 2016.
- ^ a b c "Queens Beasts Lion coin now available in a full range of gold and silver proof sizes – AgAuNEWS". agaunews.com. 5 December 2016. Retrieved 5 December 2016.
- ^ "Royal Mint unveils largest ever coin - a 10kg solid gold beast". The Week UK. 29 April 2021. Retrieved 1 May 2021.
- ^ "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.
- ^ "The fifth portrait of The Queen is unveiled". 2 March 2015. Retrieved 13 August 2016.
- ^ "Queen's Beasts Secondary Market Prices Too High". Coin World. Retrieved 13 August 2016.
- ^ 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.
- ^ "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.
- ^ Price, Gold. "Gold Price". Gold Price. Retrieved 1 May 2021.
- ^ "أحدث أسعار الذهب مباشرة - GOLD PRICE LIVE" (in Arabic). 6 May 2023. Retrieved 2 February 2024.
- ^ a b "Cupro Nickel Replacement Programme | The Royal Mint". www.royalmint.com. Retrieved 1 May 2021.
- ^ "Buy The Queen's Beasts 2016 – The Lion – 1 oz Gold Bullion Coin". www.royalmintbullion.com. Retrieved 14 August 2016.
- ^ "Buy The Queen's Beasts 2016 – The Lion – 1/4 oz Gold Bullion Coin". www.royalmintbullion.com. Retrieved 14 August 2016.
- ^ "Buy The Queen's Beasts 2016 – The Lion – 2 oz Silver Bullion Coin". www.royalmintbullion.com. Retrieved 14 August 2016.
- ^ "The Queen's Beasts Series". www.royalmint.com. Retrieved 26 April 2018.
- ^ "The Queen's Beasts 2021 UK Quarter-Ounce Silver Proof Ten-Coin Set". www.royalmint.com. Retrieved 7 July 2021.
- ^ "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.