A New Era Begins [Global Nuggets Newsletter]
A New Era Begins
The Queen has been there almost as long as anyone can remember I never thought that one week on, I would be writing about the Queen in the past tense. On Tuesday last week, she accepted the resignation of Boris Johnson and appointed the new UK Prime Minister, Liz Truss. She looked frail but had a wide smile on her face. Although the Queen was 96 years old, and it was inevitable that she would pass away at some stage, her death has reverberated worldwide. She was loved and respected everywhere. In Germany, she was simply known as Die Queen; across almost every country, respect has flooded in – even from Putin, who described her death as a "heavy, irreparable loss". She has been a constant for 70 years, and for almost as long as anyone has been alive, she has been there. She represented calm and stability in the current economic and geopolitical turmoil we are all experiencing. She will be sadly missed.
A New Era Begins
In the UK, her effigy was present on all coins, banknotes and stamps. For coins, five effigies were used throughout the Queen’s reign, marking the changing face of the Monarch over the 70 years. The first was introduced in 1953 by the artist Mary Gillick, with the most recent being created by Jody Clark of the Royal Mint in 2015, which remains to this day on British coinage. According to communication from the Royal Mint, it is likely a transition to a new effigy for the new King would take some time. On Friday morning, the Royal Mint website crashed as people rushed to buy iconic coins in memory of the Queen, particularly marking her platinum jubilee, which was this year. This was reflected in the other countries where the Queen was Head of State, such as Canada, Australia and, of course, New Zealand. Collector coins, which commemorate major events, can often be a great investment. We believe that there will be renewed interest in this space following the Queen’s death, as her face was present on so many coins worldwide. As they disappear from circulation, people will want a piece of history to remember her by. Whether collecting all five UK effigies, or coins that commemorate her life and death, we believe there will be strong demand as people clamour to own a piece of history.
On a more mundane note, gold and silver stabilised this week after several weeks at the mercy of an ever-strengthening US dollar. Analysts say it’s too early to talk about a turnaround, but the market sentiment seems to have shifted. It will be interesting to see if precious metals firm up in the coming weeks.
This Week's News
The 5 changing faces of the Queen on British coins
Price of collector coins skyrocket
Coin collectors in a frenzy
Gold holds and stabilises
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