April 26th 2023.
Next club meeting Monday 15th May 2023.
Subject – Copies,
Counterfeits, Fakes etc. By Michael Gouby
Monday 5th June 2023
·
Annual General Meeting and Display Competition
Monday 5th July 2023
·
TBC By Alistair MacKay
Meetings are held at the Abbey Baptist Church,
Abbey Square, commencing at 7.00 p.m.
Notices
To complement
Michael’s talk at the next meeting, he asks you to bring along any
counterfeits/fakes/restrikes/fantasy coins etc.. and
we can all see how they fit into the grand scheme of fakery.
It will be the
Annual General meeting in June and the time when we look for volunteers to
serve on the committee, PLEASE give it some consideration. It is also the time
for the Annual Display Competition, so start thinking about that too.
April Meeting
The April meeting started
with John reading out a note sent from a collector of fifty years who was
disappointed at being offered less for his collection than he had spent
amassing it, now that he has decided to sell it as
there is no one to leave it to. He asked ‘Is it really
worth collecting?’. The general view of the meeting is that he should definitely get some more quotes and not rely on just one
dealer. John also pointed out that when you are valuing a personal collection
you ought to take into account the pleasure you get from
having owned the coins.
Our speaker for the
evening was ‘Christopher Collects’ who is a YouTube blogger and
also an employee of The Britannia Coin Company in Royal Wootton Bassett.
He represents a new breed of coin collector who use
the Internet and all that that means. He pointed out that like all things, coin
collecting needs to move on with the times.
Although he can’t
remember what coin really started his interest in the hobby
the interest really took off when his father bought both him and his brother a
set of coins for the Millennium back in 2000. He collects mainly the decimal
issues from the UK but also has a substantial foreign coin collection. He has a
very successful YouTube channel with about 75,000 ‘followers’ who tune in every
few days to watch as he searches through a bag of coins from the bank/post office
looking for the commemoratives. It wasn’t an overnight success, a previous attempt
with stamps failed completely. ‘Christopher Collects’ is now a thriving
business and Christopher uses the profits to allow him to add to his
collection. In addition, his success online got him noticed within the coin
trade, hence his current job, producing videos for the Britannia Coin Company.
He began by talking
about how easy it was to set up a YouTube channel and how, after gaining the requisite
number of ‘followers’ who ‘subscribe’ (freely) to the channel, he derives an
income from the adverts that accompany the recordings YouTube puts up on his
channel. He went on to talk about how to get hold of the bags of £2 and 50p coins
that he searches through. In order to acquire them in
the industrial quantities that Christopher needs, you have to be a ‘business’,
some banks and post offices are not happy about having to arrange to get hold
of large amounts of coin for customers with personal accounts. Christopher
pointed out that unlike collecting bubble gum cards or the like, you can just
take the coins back if you don’t want to hang on to them and effectively swap
them for others. It turns out that the most common commemorative is the ‘Benjamin
Bunny’ 50p and Christopher signs some of these (black marker pen) and releases
them ‘back in to the wild’ so if you get a 50p that’s been written on in your
change, check to see if it’s one of his.
He went on to
outline the designs he looked out for when doing the hunts, starting unsurprisingly,
with the Kew Gardens 50p from 2009, which retails at up to £200 at the moment. Next in line come the Olympic 50ps, issued in
2011, which Christopher believes are criminally undervalued because so many
people became interested in the series when it was issued and also they have relatively low mintages. Christopher
remembers working in retail when he was at University
and seeing young children coming in and wanting to swap for the 50ps in the till. A similar thing happened with the Beatrix Potter
series and he feels this is a good way to encourage the
next generation of collectors. In the two pound
series, he mentioned the Commonwealth Games, especially Northern Ireland and the
Navy Centenary – commonly misnamed the HMS Belfast two pound, even though HMS
Belfast didn’t see service in the First World War. The confusion may have
arisen when some of the coins were being issued by the museum in Belfast.
Christopher also discussed the so called ‘flag error’ version of the Navy Centenary
two pound. He also told us that tens of thousands of Kew Gardens 50ps were
shipped to Germany to use as Olympic commemoratives, having a sticker put on
them, though it’s not clear if they were part of the 210,000 issued for circulation.
Of course the Kew Gardens 50p isn’t the rarest 50p ever
issued but what seems to make it the most valuable is the interest that arises from
the possibility that you could find one in your change. Other coins to look out
for are the Alphabet 10ps issued in 2018/19 though these almost never seem to
turn up in change. They are given out in change at the Royal Mint shops, who
keep a stock of them.
If the Royal Mint
need a coin to be issued quickly (eg. the late Queen’s
70th 50p) then they will release it through Post Offices. It seems
as if the decision on what designs to release and when,
owes much to the ideas of the Chancellor of the Exchequer at the time. From the
point of view of the hobby as a whole, the importance
of novel designs cannot be overestimated, likewise the possibility of finding
the coin in your change. New designs can provide a jumping off point for
someone to get into the hobby. Though they are no longer in circulation, the old
‘round’ pounds were also a highly collectable set, with arguably designs that
are more relevant to the UK than say ‘Harry Potter’.
Next Christopher went on to discuss NIFC (Not issued for circulation) or
NSFC (Not struck for circulation) coins, which the Mint are now producing in
ever greater numbers. These are coins that are intended only for collectors and
deliberately not put into circulation, though it is not unknown for the odd one
to escape, perhaps if a set has been broken up when someone inherited them.
Even some years of the definitive designs are NIFC and are worth looking out
for, a point Christopher makes in his blogs but still gets people contacting
him expecting their 2010 Technology £2 coin (nearly 7 million minted) to be
something special.
He then moved on to errors, mentioning rotation errors on coins such as
the 2017 Benjamin Bunny 50p, likewise the Shakespeare Tragedies £2 coin has
been minted with the Army Centenary inscription ‘For King and Country’. Christopher’s
favourite error is a ‘fried egg’ two
pound coin where the centre has spread. Another
error is a ‘doubled die’ error where the inscription shows clear signs of
doubling. Other errors can arise from die clashes, which can transfer part of
the design from one side of a coin to the other. Some errors are just damaged
coins and Christopher is always sceptical of a new
error until it has been verified.
Christopher then went on to talk about YouTube, pointing out that there
are so many channels available that someone somewhere has almost certainly got
one for your subject. He has found that people who had no previous interest in
the topic have come across his videos and consequently became collectors
themselves, including Master Dan Temple who now makes his own videos, and blames
Christopher for the amount of money he now spends on
coins. Other channels include Tik Tok, Instagram, Twitter etc..
which also have areas devoted to coin collecting, all serving to market the
hobby to people who would never have come across it otherwise. Christopher has
a Discord server, which is a forum where people can ‘chat’ and swap pictures of
coins etc.
He feels there is a need to have someway of
getting information about things such as Coin Fairs and internet enabled
channels can do that. Christopher revealed that it is only in the last two
years that he has been attending fairs and that other dealers there tell him
that the fairs are much quieter than they used to be. Other avenues are the
likes of EBAY, though Christopher was quick to give a warning about dodgy
dealers on such sites.
Christopher revealed that he had been in Retail Banking, which gave him
considerable access to coins but was put into the team for IT migration and
knew it was time to leave. He then took a job selling insurance on the phone,
which he loved, before joining the Britannia Coin Company, to make educational
videos about coin related topics. Of course, since he
joined the company he now has access to a far greater
range of coins and has been learning quickly. For example, he has learnt more
about the British Monarchy in the last two years than he ever did at school, had
never seen such beautiful items as the Gothic Crowns or such interesting ones as
5Kg Gold coins.
Returning to YouTube he reiterated how easy it is to set up a channel.
His friends ask him if it worth the effort and he replies ‘Why not?’, if you set up a channel and no one ‘follows’
it then that means that no one knows you’ve failed – win-win. For Christopher
one of the best results is the number of new friends he has made all over the
country, who he now gets to meet ‘in the flesh’ at events like Coin Fairs or
trips to the Royal Mint.
In response to questions Christopher said that the company will be moving
into new premises (a NEW coin shop) in about a year’s time. His office however is currently a ladies
loo. Discussion turned to the fairs and how much of the dealing is done,
between the dealers, before the public come in. A discussion ensued about the
reasons fairs are less attractive now than in previous times, with travel,
parking and cost being mentioned. Christopher doesn’t believe that coins in
everyday commerce are going to disappear any time soon, they are too perfectly
suited to certain types of transaction. Certainly the
Royal Mint will still be making coins, even if only commemoratives, but Christopher
pointed out that the basis for a lot of collecting comes from finding things in
your change and the Royal Mint ignores that at its peril. He remains
himself a collector, rather than an investor.
Christopher frequently comes across ‘newbie’ questions on the forums,
where the posters are roundly condemned for asking a stupid question and he
pointed out that we were all new to the subject once and such questions should
not be dealt with so severely, not if we want more people to join the hobby.
The general feeling of the meeting was in total agreement. Thank you to
Christopher for a very engaging talk and I’m sure we’ll be seeing a lot more of
him ‘in the trade’ in years to come.
Future Events.
Past Events
·
10 years ago – “Professor Holloway- A modern man from Victorian times’”
– Mick Martin
·
20 years ago – “The
Coinage of Maria Theresia” – Tim Hayward
·
30 years ago – The
Annual Coin Fair
·
40 years ago – “Victorian
Tokens’ – George Berry
·
50 years ago – “Sources
of Royal Mint Silver in the 18th Century” – R. Sharman
Club Secretary.