British Royal Mint silver bullion coins are popular around the world. That popularity is likely to increase, at least for the short-term, thanks to the discovery that thousands of mule silver bullion coins have been released into the market.
The no-denticles obverse of the Royal Mint’s Year of the Horse Lunar New Year commemorative struck with the denticles reverse design intended for the £2 Britannia. (Photo credit: Professional Coin Grading Service.)
The first of those silver coins have recently been authenticated, graded and certified by the Paris Submission Center of Professional Coin Grading Service. Many more are likely to be floating around in bullion dealer inventories or already a part of personal collections.
For those unaware of the meaning of the term mule, it is described as a coin mistakenly created with the obverse die of one coin and the reverse die of another coin. The terms origin refers to the offspring of a male donkey and female horse. Mule coins are generally rare and worth more than standard versions.
The two silver coins affected by the error are the 2014 £2 Britannia silver bullion coin and the 2014 £2 Lunar Year of the Horse silver bullion coin. The Royal Mint estimates that approximately 17,000 Britannia silver coins were struck with the obverse intended for the Lunar coin and approximately 38,000 Year of the Horse silver coins were struck with the obverse intended for the Britannia coin.
“It’s always exciting to see a new coin variety in person for the first time, and these beautiful coins did not disappoint,” said Muriel Eymery, PCGS Vice President of International Business Development. “They are true British numismatic pieces of history.”
The Royal Mint has classified the two mule silver coins as “a variation in the design for a limited time only” and is not calling them errors.
The £2 Britannia obverse design with denticles that was struck with the no-denticles reverse design intended for the Royal Mint’s 2014 Year of the Horse Lunar New Year commemorative. (Photo credit: Professional Coin Grading Service.)
Ian Rank-Broadley’s effigy of Queen Elizabeth II can be found on the obverse of both the 2014 £2 Britannia coin and the 2014 £2 Lunar coin. Standard versions of the Britannia silver bullion coins have dentils inside the rim on both sides while standard Lunar silver bullion coins do not contain dentils. Dentils are tooth-like design elements sometimes found around the inside rim of a coin.
Philip Nathan’s depiction of Britannia graces the reverse of the Britannia series. The Lunar silver coin includes an image of a horse.
Specifications for both 2014 coin series include a composition of one ounce 99.9% fine silver, a diameter of 38.61 mm and a thickness of 3 mm.
For additional information about PCGS services in Europe go to www.PCGSEurope.com.