The Royal Mint will continue its new series of silver coins sold at face value, but the second coin in the series will feature a reduced mintage limit.
The 2014 coin, honoring the anniversary of World War I, is scheduled to be released in July, the Royal Mint announced April 24. The Royal Mint has not unveiled the design for the forthcoming coin.
The new coin will have a mintage limit of 150,000 pieces. A 2013 coin, with a design of St. George slaying the dragon, inaugurated the series and was proclaimed a sellout of its mintage of 250,000 pieces about a week before the 2014 coin was confirmed.
The second coin's reduced mintage limit may spur a quicker sellout and will mean, unusual compared to many world coin programs, that the first issue is not the key coin to the program.
The £20-for-£20 program offers a half-ounce silver coin at face value to collectors in the United Kingdom. The offer for the first coin was eventually extended to collectors in certain other countries, after it was offered initially only to customers in the United Kingdom.
The Brilliant Uncirculated 2014 .999 fine silver £20 coin weighs 15.71 grams and measures 27 millimeters in diameter.
If the program sounds familiar, it should — the Royal Mint’s program is based on a program instituted by Canada in 2011, where a coin of the same size and mintage limit was sold for $20 Canadian. The Canadian program has since experienced a reduction in the mintage limit, to 225,000 pieces, after 11 coins were issued with a higher limit.
The Royal Mint is soliciting collector sign-ups to be notified when the new coin becomes available, at a special page at its website, www.royalmint.com/Pre-register/2014-20-Pound-Coin.
The equivalent of £20 in U.S. dollars is about $33.60.
Images courtesy of the Royal Mint.