1983 ONE POUND COIN Unbelievable Value Hiding In Your Change Jar?

COΔ°N AZ
10 Dec 202203:06
EducationalLearning
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TLDRThis video script highlights the value and history of the 1983 UK one pound coins featuring Queen Elizabeth II. It explains the decision behind the coin's introduction, its design elements, and its mintage volume. The script also discusses the fluctuating prices of these coins on eBay, with a focus on rare errors and high-grade specimens that can sell for hundreds of dollars. The video encourages viewers to subscribe for more numismatic news and coin updates.

Takeaways
  • πŸ‘‘ The 1983 UK one pound coin features the second portrait of Queen Elizabeth II.
  • 🌐 The coin's design includes the Royal Arms of the United Kingdom on the reverse side.
  • 🏦 The introduction of the one pound coin in 1983 was a response to the decline in purchasing power and was intended to replace the one pound note.
  • πŸ“ˆ The total mintage of the 1983 one pound coin exceeds 444 million, making it not rare.
  • πŸ’° Higher grade circulated 1983 one pound coins can sell for two to ten dollars on eBay.
  • πŸ” Some 1983 one pound coins have sold for hundreds of dollars on eBay, particularly those with minting errors like up-down deficits.
  • πŸ“Š The value of these coins can vary greatly on eBay, with no fixed prices.
  • πŸ—“οΈ The 1983 one pound coin was demonetized in 2017 and replaced with a bimetallic one pound coin.
  • 🏷️ The inscription on the coin reads 'DECUS ET TUTAMEN,' translating to 'An ornament and a safeguard', a saying from Virgil’s Aeneid.
  • 🌟 The coin's release was announced in 1981 and it began circulation on April 21st, 1983.
  • πŸ›οΈ Collectors are advised to be cautious when purchasing as some high-priced sales lack proper explanations from the seller.
Q & A

  • What year were the first one pound coins issued in the UK?

    -The first one pound coins were issued in the UK in 1983.

  • Why were one pound coins introduced in the UK in 1983?

    -The one pound coins were introduced due to the general decline in purchasing power, making the one pound unit more appropriate as a coin rather than a banknote.

  • What does the Latin inscription 'DECUS ET TUTAMEN' on the edge of the 1983 one pound coin mean?

    -The Latin inscription 'DECUS ET TUTAMEN' translates to 'An ornament and a safeguard'.

  • What is the total mintage of the 1983 UK one pound coin?

    -The total mintage of the 1983 UK one pound coin is over 444 million.

  • What is the significance of the Royal Arms depicted on the reverse of the 1983 one pound coin?

    -The Royal Arms on the reverse of the coin represents the United Kingdom as a whole, including its constituent parts: England, Scotland, Wales, and Northern Ireland.

  • How much do circulated 1983 one pound coins typically sell for on eBay?

    -On average, circulated 1983 one pound coins sell for between Β£2 and Β£6 on eBay.

  • What special features might make a 1983 one pound coin more valuable?

    -Specimens with errors, such as an upside-down or deficient design, can sometimes sell for hundreds of dollars on eBay.

  • What was the final year that the 1983 one pound coins were in circulation?

    -The 1983 one pound coins were in circulation until 2017.

  • What replaced the 1983 one pound coins in the UK?

    -The 1983 one pound coins were replaced with the current bimetallic one pound coin in 2017.

  • What is the second portrait of Queen Elizabeth II on the 1983 one pound coin?

    -The second portrait of Queen Elizabeth II on the 1983 one pound coin features her facing right, with an embedded soul circle and surrounded by Latin legends.

  • How can one find daily numismatic news and coin price updates?

    -Daily numismatic news and coin price updates can be found by checking out the Coins app or visiting the website coinsas.com.

Outlines
00:00
πŸͺ™ Introducing Coin Trading Platforms and Rare UK Pound Coins

This paragraph introduces viewers to the possibility of showcasing or selling old, rare, or error-coded coins on the Coin Trading platforms and the Coins app. It highlights the potential value of 1983 UK one-pound coins featuring Queen Elizabeth II, which can sometimes sell for hundreds of dollars on eBay. The video promises to reveal more about these expensive coins and encourages viewers to subscribe to the channel for more numismatic news and coin price updates.

πŸ‘‘ History and Features of the 1983 UK One Pound Coin

The paragraph delves into the history behind the creation of the 1983 UK one-pound coin, which was introduced as a more appropriate currency unit than a banknote. It describes the coin's features, including Queen Elizabeth II's second portrait, the Latin inscriptions, and the Royal Arms of the United Kingdom on the reverse. The total mintage of these coins is mentioned, along with their average selling prices on eBay and the unique cases of high-value sales due to errors or other factors.

Mindmap
Keywords
πŸ’‘rare key date
A 'rare key date' refers to a specific year and mint mark combination on a coin that is particularly scarce and thus highly sought after by collectors. In the context of the video, this term is used to encourage viewers to showcase or sell their potentially valuable coins on the mentioned trading platforms. For instance, the video might feature a coin with a rare key date that fetches a high price at auction.
πŸ’‘error codes
Error codes on coins refer to minting errors that result in unusual or unexpected features on the coin's surface or design. These errors can make a coin more valuable to collectors, as they are not part of the standard minting process. The video encourages viewers to post their coins with error codes for sale or to check the numismatic news for updates on such coins.
πŸ’‘Coinance.com
Coinance.com is mentioned as one of the online platforms where individuals can showcase their rare or valuable coins for free. It is likely a digital marketplace or community for numismatists to buy, sell, or discuss coin collections.
πŸ’‘numismatic news
Numismatic news refers to the latest information, updates, and trends related to the world of coin collecting, also known as numismatics. This can include new coin releases, market price fluctuations, and notable sales or auctions. The video emphasizes the importance of staying informed with daily numismatic news for collectors and investors.
πŸ’‘Queen Elizabeth II
Queen Elizabeth II is the reigning monarch of the United Kingdom and other Commonwealth countries. Her portrait has appeared on UK coinage since her ascension to the throne in 1952. In the context of the video, the 1983 one-pound coin featuring her second portrait is highlighted as a collectible item that can sell for high prices, especially if it has unique features or errors.
πŸ’‘one pound coin
The one pound coin is the official currency of the United Kingdom, worth one pound sterling. The video specifically refers to the 1983 version of this coin, which was introduced as a replacement for the one pound banknote due to its greater durability and resistance to counterfeiting. These coins circulated for 34 years before being demonetized and replaced.
πŸ’‘Royal Arms of the United Kingdom
The Royal Arms of the United Kingdom is a coat of arms that represents the monarchy and the national identity of the UK. It is a symbolic design that has been used for centuries and appears on various official documents, government buildings, and, as mentioned in the video, the reverse side of certain UK coins.
πŸ’‘mintage
Mintage refers to the total number of coins that are produced by a mint over a specific period. It is an important factor in numismatics as it can influence the rarity and value of a coin. A higher mintage number typically means more of a particular coin is available, which can affect its collectible value.
πŸ’‘eBay
eBay is an online marketplace where individuals can buy and sell a wide variety of goods and services, including collectible items such as coins. The video script mentions eBay as a platform where rare or error coins can be sold, and it provides examples of prices that such coins have sold for in the past.
πŸ’‘upside down deficit
An 'upside down deficit' is a type of minting error where a coin is struck with the die oriented incorrectly, resulting in the design elements being inverted or off-center. This type of error can significantly increase the value of a coin, as it is considered a rare and collectible anomaly.
πŸ’‘demonetized
To demonetize a coin means to withdraw it from circulation as legal tender, rendering it no longer valid for transactions. This often happens when a new version of a coin is introduced, or when a coin is deemed unsuitable for continued use. In the video, the 1983 one-pound coin was demonetized in 2017 and replaced with a new metallic design.
Highlights

Old and rare key dates or error codes can be showcased for free on coin trading platforms like Coinance.com.

The Coins app provides daily numismatic news and coin price updates.

1983 UK one pound coins featuring Queen Elizabeth II sometimes sell for hundreds of dollars on eBay.

The one pound coin was introduced in the UK in 1983 to replace the one pound banknote due to its declining purchasing power.

The 1983 one pound coin was issued on April 21st, following the government's announcement in 1981.

The second portrait of Queen Elizabeth II on the coin faces right with an embedded soul circle.

The inscription on the coin is in Latin, 'Decos it tamen,' meaning 'an ornament and safeguard'.

The reverse of the coin features the Royal Arms of the United Kingdom.

The total mintage of the 1983 one pound coin is over 444 million, making it not rare.

Higher grade circulated one pound coins typically sell for two to ten dollars on eBay.

Some coins with upside-down or deflect errors can sell for hundreds of dollars on eBay.

A circulated specimen in very fine condition was sold for 500 pounds on November 18th.

Another circulated specimen sold for 650 pounds, equivalent to at least 790 dollars, according to eBay sales records.

The 1983 one pound coin circulated for 34 years until it was demonetized in 2017 and replaced with a new metallic design.

The irregular shape of one of the coins in the collection makes it uncertain whether the damage is mint or post-mint.

The coin's design and features are detailed, including its Latin inscription and depiction of the Royal Arms.

The video provides insights into the value and collectability of UK one pound coins, especially those with errors.

Transcripts

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UK_CoinageNumismatic_NewsRare_CoinseBay_SalesQueen_Elizabeth_IIOne_Pound_CoinCoin_TradingCoins_CollectionCurrency_HistoryCoinance_Platform