Arears of London, London Universities, London Dating, London Property, Centre of Europe, World of Internet Cafes, Too much to do in London, Tribal Masks, UK Bridging Finance, Christmas Vacation, Christmas Vacation at London, London Attractions, London Business Traveler, Vibrant Metropolis, Clubbing Royal, London Calling, School Of Fashion at London, School Of Fashion in London, Bank Of England Coins, History of England, Designer Clothes UK, Advertising Balloons

Collecting Bank Of England Coins

Collectors covet coins from the Bank of England. That being said, you might be surprised to learn that they are not difficult to find.

In the United Kingdom, the Bank of England is the central bank. It is nicknamed the “Old Lady of Threadneedle Street. It was founded in 1694 as the banker and debt-manager of the government. One of the Bank’s first responsibilities was to issue new coinage, which was and still is produced by the National Mint. The Bank was nationalized on March 1, 1946, and gained independence in 1997.

Those interested in the royal coinage can visit the Bank of England Museum. Here visitors will find a coin collection that includes coins issued in 1694. This was the first year that the Bank of England did business. Also found at the Bank of England Museum are coins from the 18th and 19th century. Both dollars and tokens can be seen here.

Older coins issued by the Bank of England are relatively easy to find on the internet. Coins with prices up to ₤160 for a Bank of England George III dollar, dated 1804 in excellent condition, can be found on internet auction sites. English coinage, as with all of their currency, has the face of the ruling King or Queen on the face. Coins are cited with the monarch’s name. For instance, an “1861 Victorian half penny” has Queen Victoria’s face on it.

The most common type of collectable Bank of England coin to be found is from the early 19th century. England was in a coinage crisis and, in 1804, the design on full-weight Spanish coins was completely erased. The coin design was replaced with a stamp that said, “Bank of England Five Shilling Dollars.” Later in the same year, the Bank of England issued token silver coins for three shilling, one shilling and six pence denominations. These were minted from lighter-weight Spanish coins, as opposed to the full-bodied coins for the dollars. These coins, as well as counterfeits of them, are readily available from coin collectors, dealers and online.

In 1816, the Privy Council recommended the establishment of the gold standard in England, and the proposal is accepted, causing the production of a new, one-pound gold coin – the sovereign. The sovereign was produced until 1932, and is 91.7% gold. It generally sells for slightly above bullion price. Also minted were gold half-sovereigns. These were made in both two and five pound versions. In this case, pound refers to the name of the money used in England, and not how much the coin weighs. These coins were not sold as bullion coins, and are more scarce. Production of tokens stopped at this time and the tokens were removed from circulation by 1821.