Wednesday 22 November 2017

Olympics 2012 50p coins hoarded

The 50p coins, which have been in general circulation since October 2010, feature designs from the Olympic and Paralympic sports
The 50p coins, which have been in general circulation since October 2010, feature designs from the Olympic and Paralympic sports

Sports fans have kept more than £10.2 million worth of the commemorative 50p sports coins found in their change as a keepsake of the London 2012 Games, the Royal Mint said.

So far £10,277,264 worth, or more than 70%, of the coins have dropped out of circulation.

This is 67% above the usual level of removal and the highest take out of a commemorative coin from general use by members of the public since decimalisation, according to a Royal Mint audit.

The coins, which have been in general circulation since October 2010, feature designs from all the Olympic and Paralympic sports.

They are also the first UK coins to be designed by members of the public.

The audit found that more than 70% of the 29,363,613 sports 50ps have disappeared or been "hoarded by people keen to collect a souvenir of London 2012 by the time the Games begin", the Royal Mint suggested.

More than 10 million of the 22 million commemorative Victoria Cross 50p coins, issued in 2006, disappeared from circulation. This was 48% above the expected level of removal for a standard 50p featuring Britannia.

Press Association

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