11 October 2023
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The Royal Mint achieved over $5.1 million (£4.1million) in sales in a special ‘Royal Succession’ auction featuring the last bullion coins struck by the mint featuring the effigy of Her Late Majesty Queen Elizabeth II and the first bullion coins produced bearing the portrait of His Majesty King Charles III.
Held by the American auction house of Stack’s Bowers at the end of August, all 690 lots sold, with bidding from over 35 countries emphasising the significance of these coins.
Fierce bidding saw record prices, with the very last gold bullion 1oz Britannia struck under Her Late Majesty Queen Elizabeth II selling for $50,000 (£40,073) – over 25 times its metal value – and the first gold bullion 1oz Britannia struck under His Majesty King Charles III, achieving $42,000 (£33,661), over 20 times its metal value.
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There were also record-breaking prices achieved for the silver 1oz Britannia bullion coins, with the very last bullion coin struck under Her Late Majesty Queen Elizabeth II selling for $19,000 (£15,227) – over 800 times its metal value – and the very first bullion coin struck under His Majesty King Charles III realising $18,000 (£14,426), almost 800 times its metal value. The very last and very first gold Sovereign coins also brought significant results, selling for $42,000 and $34,000 respectively.
Selected coins featured signatures from Her Late Majesty Queen Elizabeth II’s final Assay Master, Graeme Smith, the King’s Assay Master, Paul Morgan, and the CEO of The Royal Mint, Anne Jessopp. All coins were graded and encapsulated by the grading service Numismatic Guaranty Company (NGC), bearing custom labels to recognise their historic significance.
Nick Bowkett, head of bullion sales at The Royal Mint, said: ‘The Royal Mint is known around the world as the home of precious metals and for its prestigious and iconic designs. We were thrilled to be able to bring the Royal Succession Coin Series to auction to mark such a historic event in British and world history, and to drive further awareness of our premium bullion coins, amongst collectors and investors globally.
‘The success of the auction emphasises the significance of these historic coins and we saw bidding activity from over 35 countries, including the USA, Canada, China, the UK and Asia. We look forward to being able to offer more unique bullion auctions in the future, along with our premium range of bullion coins and bars.’
The link up between The Royal Mint and Stack’s Bowers follows the partnership between the United States Mint and Stack’s Bowers in 2022, when the auction house sold special transitional coins from the American Eagle bullion coin series that realised more than $4.6 million.
