The Royal Mint Auctions the Royal Succession Coin Series for £4.1 Million!
The Royal Mint introduced 'The Royal Succession Bullion Coin Series' in July 2023, featuring Queen Elizabeth II and King Charles III. The subsequent auction on August 21, 2023, at Stack's Bowers Galleries garnered over £4.1 million in sales, despite lower metal values. Notable highlights included the final 1 oz gold Britannia under Queen Elizabeth II, which sold for $50,000. This series marked a historic transition, with record-breaking prices achieved for silver Britannia coins.
- The Royal Mint announced 'The Royal Succession Bullion Coin Series' on July 28, 2023
- The auction for these coins took place on August 21, 2023, at Stack's Bowers Galleries in California, with collectors and investors participating actively
- Royal Mint earned over £4.1 million in sales from the auction, with all 690 lots of bullion coins sold, despite their lower metal value
- A highlight from the auction includes the final 1 oz gold Britannia minted under Queen Elizabeth II's reign, which sold for $50,000
The Royal Mint Announces 'The Royal Succession Coin Series'
28 July 2023: Royal Succession Coins Are Announced
On 28 July 2023, The Royal Mint announced an auction for the last bullion coins featuring HM Queen Elizabeth II, as well as the first coins showcasing the uncrowned portrait of King Charles III. This new series, titled 'The Royal Succession Bullion Coin Series', comprised of Britannia and Sovereign gold and silver bullion coins, highlighting the transition from Britain's longest-serving monarch to her son King Charles III.
Each one of the coins featured in this bullion coin series has been graded by expert numismatists at the Numismatic Guaranty Company (NGC), a third-party coin grading and certification service. With some of the coins in the series attaining the highest grade of MS-70 via the NGC, based upon the internationally accepted 'Sheldon' grading system of 1-70. This was first used in the 40's in the USA.
MS-70 - 'A coin with no post-production imperfections at 5x magnification.'
When Did The Auction Take Place?
21 August 2023: Auction of the royal succession bullion coins
The Auction of the royal succession bullion coins consisted of 690 lots, held at Stack's Bowers Galleries, an American auction house based in Costa Mesa, California. Numerous prominent collectors and investors attended the nine-hour auction at Stack's Bowers Galleries. During the live bidding, coin prices surged as participants placed staggering bids to obtain their desired coins, some of which were one-of-a-kind, making them among the rarest collectible coins in the world.
How Did Royal Mint Achieve Over £4.1 Million In Sales?
During the auction, the final 500 coins minted under Queen Elizabeth II were auctioned alongside the first 500 coins of King Charles III. The auction was a tremendous success for both The Royal Mint and the hosts, Stack's Bowers. All 690 lots of bullion coins were sold to collectors and investors, resulting in The Royal Mint earning just over £4 million pounds from the sale. Although the coins were worth much less in total metal value, they have the potential to become valuable collector's items in the future.
1 Ounce 2023 Britannia Coins
Included in the auction were the final 1 oz gold Britannias minted by The Royal Mint during Queen Elizabeth II's reign, which sold for $50,000 (£40,073) - over 25 times its metal value. Additionally, the first 1 oz gold Britannia minted after King Charles III's accession was auctioned, fetching $42,000 (£40,073) - more than twenty times its original metal value. Stack's Bowers announced that the first minted 1-ounce 2023 Britannia coin and the final one now hold the top two positions as the most valuable Britannia coins since The Royal Mint introduced the gold series in 1987.
Additionally, record-breaking prices were achieved for the sales of 1 oz Britannia bullion silver coins. The final bullion coin, featuring Queen Elizabeth II, sold for $19,000 (£15,277), which was over 800 times its metal value. The first King Charles III bullion coin sold for just under $18,000 (£14,426).
Contributing to the high price was that the coins were issued in a slabbed presentation and graded by NGC as the highest grade based on the Sheldon grading scale of MS-70 grade. Additionally, the coins display clear authenticity, as they feature signatures from Her Majesty QEII's final Assay Master, Graeme Smith, the King's Assay Master, Paul Morgan, and the current CEO of The Royal Mint, Anne Jessopp.
2022 Platinum Jubilee & Memorial Sovereign Bullion Coins
The final gold sovereign issue during Queen Elizabeth II's reign was the Platinum Jubilee Sovereign, commemorating her 70 years on the throne. The last bullion sovereign from this issue sold at the auction for $42,000. Following the passing of Queen Elizabeth II on September 8, 2022, The Royal Mint introduced a new bullion sovereign series known as the 'Memorial Sovereign.'
This series marked the first time a bullion sovereign coin featured the uncrowned portrait of King Charles III. The initial release of this series sold for $34,000, which, although impressive, was considerably lower than the final price achieved for the Platinum Jubilee Sovereign.
Buy Britannias & Sovereigns From Chards
At Chards, you can purchase sovereigns, gold, and silver Britannias at some of the most competitive prices in the market. Leveraging our expertise gained from nearly sixty years in the trade, we assist customers in reaching their personal and investment objectives. Furthermore, we currently have the new 2024 Britannia range in stock, showcasing the iconic standing Britannia design and King Charles III's inaugural coinage portrait.
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