Five questions about: The £20 coin

 

Hang on, there is no £20 coin, is there?

There is now. The Royal Mint has created the first in what it promises will be a series of them issued to celebrate significant events and figures from British culture. It's been launched with an image of St George and the Dragon “to commemorate a momentous 2013”.

Can I spend it?

The coin is legal tender but is aimed squarely at the collectors' market with just 250,000 being issued. The Royal Mint is banking on tempting all those who snapped up the sovereign issued to commemorate the birth of Prince George this year.

So this is an opportunity to make a quick buck?

It sure is for the Royal Mint – it'll pocket £5m from the sale. But don't bank on making a quick profit yourself. Commemorative coins are not highly sought after by collectors, especially as so many are minted.

So something to put away in a drawer?

Sure, but don't expect them to appreciate. Churchill Crowns issued to mark the war leader's death cost five shillings in 1965, Today they can still be bought for as little as £1.

Where can I find out more?

The £20 coin is available to order now from www.royalmint.com.

Independent Partners; Do you need financial advice on your investments, pension or insurance? Book a free consultation with an independent Financial Adviser at VouchedFor.co.uk

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