Perhaps you have asked yourself this question: how much is my £ 2 coin worth? There are several rare 2 pound coins in circulation. The vast majority of them were issued to celebrate some kind of special event. The value of these rare British coins does not only depend on their rarity or age. Some old coins may indeed not be of great value if millions of them have been issued.
The most valuable pounds are those that meet 3 criteria: they are rare, they are commemorative or they have some error. The latter, coins with errors, are much rarer because they are generally not put into circulation but are, nevertheless, the most appreciated by collectors.
Rare two pound coins can be very valuable. But how to make money from them? There are 2 most common ways: sell them to collectors at specialty stores or sell them online.
But do not forget something very important: rare £2 coins that today are worth a lot of money may be worth much more in the future. So… maybe you want to keep them longer and expect them to value you even more.
How to determine the value of old coins
The collection of coins has been known as the “hobby of the kings”. People collect coins for fun, to benefit in a short time with fast resale or for a long-term investment. Regardless of your reason for collecting coins, knowing how to find the value of an old coin is a useful skill if you are planning to make money with that or just want to learn how to take care of your collection. The steps to follow will tell you everything you need to know.
1. Look at the date of the coin. In general, the older the currency, the better. Not all coins have dates. The dating of European coins began only at the beginning of the 17th century. Among the coins that present dates, not all are in accordance with the Gregorian calendar. Countries like Israel and India follow a different calendar, and much of the Arab world uses the Islamic calendar. If your currency comes from a country that uses a different Gregorian calendar, you will need to use a date converter like CalendarHome.com to find the equivalent Gregorian year.
2. Know which country has issued the coin. The country that has issued the coin can have an impact on the value of the currency, depending on how prominent it was historically or how it was able to mint coins. Many countries display the name both on the front (face) and on the back (crown), although it may be written in the native language of the country, in Latin or using a different alphabet of the Roman alphabet.
3. Observe how much the coin is rare. The amount of a certain type of currency also determines the collection value, in many cases, more than the age of the coin. The rarity of a coin depends on several related factors:
- To begin with, how many coins were produced.
- The place where the coin was minted. While some mints produce coins of general circulation, others can produce only commemorative coins or exist only for convenience.
- If the design of the coin has changed.
- If the composition of the coin has changed.
- If the coin has been withdrawn from circulation.
- If the coin has had minting errors. Generally, coins with marked errors, such as defects of centralization or incomplete transfer of design, are eliminated by the inspectors and destroyed, but others are released for circulation anyway. These coins with errors are appreciated by some collectors.
4. Observe the demand of the coin. Related to the rarity of a coin is the collectors’ interest in it. The search for a certain currency can also vary according to the place in the world where a certain collector lives or over time, since the popularity of the coin among collectors varies.
5. Examine the coin’s conservation status. The state of the coin affects its value; the more well preserved it seems, the more a collector will be willing to pay for it. The state of conservation of a coin is classified in one of two ways, through the Sheldon Scale or by standardized descriptive adjectives. The degree of conservation of the coins in the scale of Sheldon varies from 1 to 70, with 1 being the lowest grade and 70 highest. Although this scale is used throughout the world, some currency experts prefer the use of descriptive adjectives.
The most rare £2 coins
1. The 2002 Commonwealth games Northern Ireland £2 coin
2. Commonwealth Games Wales
3. Commonwealth Games England
4. Commonwealth Games Scotland
5. First World War Centenary (Navy)
6. Great Fire of London
7. Shakespeare Comedies
8. Shakespeare Tragedies
9. London 2012 Handover
10. Olympic Centenary £2 coin
11. Olympic Handover £2 coin
12. First World War Centenary (Army)
13. King James Bible £2 coin
15. Mary Rose
16. Shakespeare Histories
17. Magna Carta
18. London Underground Roundel
19. London Underground Train
20. Robert Burns £2 coin
21. Guinea £2 coin
22. Rugby World Cup
23. Wireless Transmission
26. Gunpowder Plot
27. Steam Locamotive
28. Trinity House
29. Paddington Station
30. First World War Centenary (Kitchener)
31. 60th Anniversary of end of WWII
32. Abolition of Slavery
33. Act of Union
34. Brunel £2 coin
35. Charles Dickens £2 coin
36. Florence Nightingale
37. Technology £2 coin
What do you do if you’ve got a rare coin?
Firstly, you need to make sure the coin is legit and not counterfeit.Around one in every four old £2 coins were thought to be fake, according to the Royal Mint, so there are probably more fakers in your spare change then you realise. The Royal Mint is unable to value a coin but it can confirm whether it is real or not. They will usually supply you with a letter to confirm this. Once you’ve found out whether the coin is real or not, you have a number of options – either selling it through a coin dealer, at auction or on eBay.