Queen Elizabeth II’s death on September 8th brought her historic 70-year reign to an end. As Britain’s longest serving monarch her image featured on currency across the globe.
Indeed, her portrait is marked on all the UK’s 29 billion coins and 4.7 billion banknotes in circulation today. She had worldwide influence as the sovereign head of state to 15 nations and head of the Commonwealth of more than 50 others, her image is prominent on more than 20 currencies.
The remarkable longevity of her reign has meant she is one of the most recognisable people in modernity and coins minted at historic points in her reign will remain highly collectible – take for instance the 2012 Diamond Jubilee and 2022 Platinum Jubilee Gold Sovereign coins.
Please note that whilst we do not buy general circulation coins, we are keen to purchase silver and gold commemorative and bullion coins and coin sets.
In this article, we will outline why now could be a good time to sell scrap gold.
When will King Charles III feature on currency?
The biggest change to UK currency in seven decades is underway – since Queen Elizabeth II replaced her father George VI as monarch. Historically, when a new monarch is crowned the onerous process of minting new currency featuring their portrait begins.
Therefore, notes and coins featuring the Queen’s image will slowly be replaced by King Charles III. This is likely to take many years and the Royal Mint and Bank of England have confirmed that all coins with Queen Elizabeth II’s profile image will remain legal tender until they are replaced.
What does this mean for gold sellers?
If you’re lucky enough to have a gold Sovereign or a gold Britannia at home, you will be aware of the number of coins featuring the image of Queen Elizabeth II. Even before the Queen’s death in September 2022 there had been a marked increase in demand for coins featuring the Queen’s image. This was prompted by the Platinum Jubilee in June which celebrated her 70-year reign. Demand for coins bearing Queen Elizabeth II’s portrait has further spiked since Her Majesty’s passing. This means now could be a good time to sell gold coins and scrap gold in general.
The price of gold has climbed in the weeks after Her Majesty’s death – gold was priced at £47.81 per gram on September 8th – compared to the time of writing, October 6th, when one gram of gold is worth £49.20.
Whether you have unwanted or broken jewellery at home or an investment coin you’d like to sell, now could be a good time to benefit from today’s high price and demand for gold.
Sell your scrap gold in three easy steps
Many people don’t realise that they have scrap gold items at home. We buy a wide range of common items including, jewellery, coins, gold bullion, watches, and dental gold.
1. Get our best price – input your scrap metal’s characteristics using our scrap gold calculator – all you need to know is your item’s weight and purity.
2. Send your items – alongside a completed copy of our seller’s form, we recommend using a Royal Mail Special Delivery tamper-proof envelope for maximum security and choosing Royal Mail’s Special Delivery Guaranteed service.
3. Payment within 2 hours – we send your payment via bank transfer on the same day we receive your parcel.
Upcoming Royal Mail strikes – 13th, 20th and 25th October
Industrial action continues within the postal service. We recommend using Royal Mail’s Special Delivery Guaranteed service for peace of mind in normal circumstances, but especially now as it is prioritised during industrial action. End-to-end tracking and signature on delivery means you’ll know where your package is at all points on its journey.
As mentioned, we please complete our seller’s form when you’re happy with the price we have quoted and you’re ready to sell. At UK Scrap Gold, we’re a dedicated team of gold experts, so should you require any help don’t hesitate to call us 01902 828 400 or contact us today.