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          COIN CLUB

Reading Coin Club

  

(2008) - Undated 20 Pence - Royal Mint - "Mule" ERROR

Obv. 3rd issue type (4th head) [issued between 1998 & 2008] - undated

Rev. 2nd issue type (shield) [issued from 2008] - undated

Therefore the coin has NO date, on either side !

 

History of this coin:

 

January 2009

The Royal Mint admit that the error went un-noticed and it is difficult to know how many there are in general circulation. After a nation wide hunt in circulation for these coins (still on going !) approximately 250 plus have been discovered. It is possible that many more may still be found in circulation.

 

The last time that the Royal Mint made a similar error was in 1983 with the now EXTREMELY  RARE 1983 Two pence "Mule" error (NEW PENCE reverse - instead of TWO PENCE !). These coins of which less than 25 have been discovered in the last 25 years that can now fetch over 1000.00 each !!!

 

At present there is no way of knowing how many or how few the Royal Mint made of this 20 pence error.

It is the first time in approximately 350 years that the made a coin with NO date on it - (last time in 1662).

 

The first British date coin that was dated was in 1551 (Edward VI reign) on the Crown (5 Shillings) & half crown - prior to that all coins were undated but had a mintmark by which one could determine the date.

 

Between January and June 29 2009 we adverted this coin for sale at 50.00.

 

 

29 June 2009

Major interest in this ERROR coin was shown by the BBC, ITV & SKY News - the programmes of that day.

Articles also appeared in many of the Daily Newspapers; Daily Mail, Telegraph, Guardian, etc.

This was the 20p's that for the last 5 months have been selling for between 30 - 50 with very little interest, as so many were turning up - All that was about to changed !!!!

Over the next couple of days he record price RECORDED for an ERROR 20p on 29 June, on EBay was 7,100.00 followed by another one at 6,500.00 and then 5,200.00. But were any of these 'silly' prices ever paid ?! I don't think so. It was just pure hype. Either that or there are some very silly people out there with more money than sense !

 

EBay prices:

(6 July) The price ranged between 265.00 & 400.00 per coin.

(8 July) The price ranged between 200 to 170 (Selling at approx. 1 per minute - just over 400 sales recorded)

(10 July) The price ranged between 145 - 150

(17 July) The price ranged between  100 - 120

And kept falling away slowly as more and more coin kept being offered for sale !

 

December 2009

It seems that all the fuss about this coin is now easing off with price now under 100 but there are still people with totally inflated ideas listing on Ebay and asking several hundreds or even thousands of 's  - BUT those were noted with not a single bid in sight ! 

Why do these people waste their time ?

 

2010

The price continued to drift downwards as even more coins kept turning up and being offered for sale. In choice condition this coin fetched between 50 & 75 on Ebay (with still 100s offered for sale - daily !!!)

The estimated mintage of this coin has been put at over 100,000. - That is not RARE that is fairly common !

 

2011

We now treat this error coin as a curio.

We not that interested in purchasing any more for stock as all the clients that wanted one now have one.

We normally advise anyone that thinks that they are worth a lot of money to put them on Ebay.

We still do purchase them occasionally from people that are not expecting a fortune and don't have the time or can be bothered with putting them on Ebay.

 

 

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