One of Britain’s largest and priciest coins has been unveiled by the Royal Mint costing £385,200.
The new 5 kilogram gold coin, designed in celebration of the Queen’s 70 years on the throne, is one of a selection of coins minted as part of this year’s collection.
Based on yesterday’s gold price of £43,000 per kg, a collector wealthy enough to buy one of two minted would be paying a near 80 per cent mark-up in order to so.
The coins, including the first 50p to celebrate a Royal event, have a unique commemorative design featuring The Queen on horseback – that has been personally approved by Her Majesty.
Gold rush: The Platinum Jubilee of Her Majesty The Queen 5kg Gold Proof Coin
The new commemorative design will also feature on the ‘heads’ side of the 50p and £5 crown and will be available in both base and precious metals.
Clare Maclennan, divisional director of commemorative coin at the Royal Mint said: ‘The Platinum Jubilee is an historic occasion and one that is particularly special for The Royal Mint, as the original maker of British Coins for 1,100 years.’
She adds: ‘In celebration of this landmark event, the official Platinum Jubilee collection, including the new 50p and traditional £5 crown, features a unique commemorative design on both sides of the coin.
‘Designed by esteemed artists and made with original craftsmanship, Her Majesty’s Platinum Jubilee coins are enduring pieces of art that will be collected, cherished and passed down for generations.’
The £385,200 coin
Coin enthusiasts, keen to grab a memento of the Platinum Jubilee collection might be tempted by the affordable Platinum Jubilee 50p, which is now available for £7 in brilliant uncirculated condition. Experts expect it to be extremely popular.
However, it will take someone with some considerable wealth to be tempted by the £5,000 five kilogram gold proof coin costing a staggering £385,200 listing.
While the coin comes with an 80 per cent mark-up when compared to today’s gold prices, it’s worth pointing out that the extremely low mintage and craftmanship could add to its value.
The 5kg coin will be so vast you may need a draw to keep it in. It’s made from alloy 999 AU fine gold and weighs exactly 5010 grams.
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The coin, which is made from alloy 999 AU fine gold and weighs exactly 5010 grams, has a diameter of 17.5 cm.
There are also smaller denominations in the pure gold form ranging from a £2,000 coin to £25 coin for those looking for cheaper alternatives.
While there will be a maximum of two £5,000 coins there will be four £2,000 coins minted, each worth £151,135.
The £25 gold coin, which weighs 7.8 grams – just shy of your typical 5 pence coin – is being sold for £670.
With gold roughly £43 a gram, that means roughly £340 worth in that particular coin.
The Royal Mint has unveiled Platinum Jubilee 50p and 5 crown with a special commemorative obverse design featuring the Queen on horseback.
Can proof coins make for good investments?
The gold proof coins will be beyond most coin collectors and enthusiasts budgets.
However, there are plenty of other options in base or precious metals such as platinum and silver.
The coins will come available to buy individually throughout 2022, starting with the commemorative Platinum Jubilee 50p and £5 which will be available nw.
Philip Mussell, of Coin News Magazine doubts there is any significant investment opportunity for coin collectors targeting the base range.
‘As a rule we always say that the base metal coins won’t work as an investment, because there are simply too many of them minted I’m afraid.’
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However, the Gold and Silver Proof editions of the Annual Sets are limited edition and this makes them sought after by collectors and investors.
Proof coins are the highest standard of commemorative coin produced by The Royal Mint.
Their sharpness, detail and finish are unrivalled, making them perfect for collectors looking for the highest levels of craftsmanship and detail.
The collection also includes Platinum bullion coins. The £100 denomination will weigh 31.21 grams and will cost £2,195.
The rare, beautiful and highly sought-after, platinum is an increasingly popular choice for investors, according to the Royal Mint.
Platinum coins contain one troy ounce of 999.5 fine platinum and, as they are UK legal tender, they are also Capital Gains Tax exempt.
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