Queen Elizabeth II's death: what future for her coins?

The 19/09/2022 in "Financial news"

Following the death of Queen Elizabeth II last Thursday, a historic page of the British monarchy has been turned. 

Indeed, beyond the emotion caused by the death of the Queen, this event will have more than anecdotal consequences on the lives of all Britons, both in terms of their patriotic soul and their investment portfolios.


Operation London Bridge: a specific organisation in the service of Her Majesty 

Set up in the 1960s, the organisation of the succession of the Queen of England was set in motion as soon as her death was announced.

Prepared by Buckingham Palace, this day is based on a list of fairly detailed measures, which will punctuate the life of the English people and that of the royal family for almost 10 days. 

Therefore, these measures will take place in Westminster Abbey and will be followed by the official ceremony. During this ceremony, the country will be immersed in silence and in the emotion linked to the death of the Queen.

Beyond this protocol, in an economic context, the London Stock Exchange has stated that it expects trading to continue even during the mourning period. 

It will only close for the funeral, which is scheduled for Monday 19 September 2022.

In addition, it is important to note the importance to The Royal Mint of the process of changing the entire Royal Mint with the face of Prince Charles III: future King of England.


The Coronation of Prince Charles III: the creation of a brand new sovereign coinage 


When Queen Elizabeth II came to the throne, the process began with the commissioning of her first royal portrait which was then used in a competition where sculptors created designs for the royal effigy.

The same could be true when it comes to carving the new king.
According to The Royal Mint, monarchs have always appeared in profile on the coins, i.e. in the opposite direction to their predecessor.

As George VI, the father of Queen Elizabeth II, was facing to the left, the Queen has always been facing to the right on all British coins. 

It is therefore likely that the portrait of Charles III, the future monarch of the English crown, will face to the left.

As for the British banknotes that feature the Queen's profile, new banknotes are expected to be issued with the new face of King Charles III after the end of the mourning period.

Similarly, the British Royal Mint has been overwhelmed by the purchase of gold coins featuring the monarch's likeness since the Queen's death last Friday.


Queen Elizabeth II's death: a blatant record of gold coin purchases from The Royal Mint 

The Royal Mint's website was inundated with gold coin collectors after news of the Queen's death broke last Thursday.

Britain's oldest company, which officially makes British coins, was forced to post a message on its website to curb collector purchases of gold coins bearing the monarch's image.

The site has been very busy in recent days, with several thousand people scrambling to order coins engraved with Elizabeth II's face.

After the Queen's death, the Royal Mint's website saw a large influx of visitors, mainly investors or collectors looking to get their hands on limited edition coins.

The Queen's death has touched the very heart of the business. It is also worth noting that the Royal Mint worked with Her Majesty throughout her reign, detailing her journey from new Queen to respected head of state through five coin portraits and ensuring that each of these received her personal seal of approval.

The remarkable legacy of Britain's longest-serving monarch will therefore endure for many years.

Also, the coinage bearing the effigy of Queen Elizabeth II will be gradually withdrawn as new versions with the effigy of the new king are issued.

The death of Queen Elizabeth II of England will therefore be a permanent mark on world and British historical memory. 

The Royal Mint will therefore be deeply affected by the death of the monarch and will concentrate its efforts on the introduction of a new British coin featuring the portrait of the new King Charles III, following his future coronation.

 

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