A change in Monarch does not require the replacement of circulation coins. The Royal Canadian Mint wishes to remind consumers and businesses that the royal succession has no impact on coins currently in circulation. The Royal Canadian Mint had a bit more detailed statement on the transition. In a statement on its website, the Royal Mint said, “As we respect this period of respectful mourning, we continue to strike coins as usual.” The logistics of this transition have not been announced, although it doesn’t appear there will be any immediate stoppage in coin production. This includes the Canadian Maple Leaf, the British Brittania, and the Australian Kangaroo coins. The Royal Mint, the Perth Mint in Australia, and the Royal Canadian Mint will begin phasing out the production of coins featuring the queen’s effigy and replace them with coins bearing the image of King Charles III. According to a press release, the “calculated pause is directly related to the global pandemic’s impact upon the availability of silver blanks from the Mint’s suppliers.” In March, the US Mint suspended production of some silver bullion coins for the rest of the year. The silver bullion market has been hit particularly hard by supply problems. The spike in demand could spill over into the broader bullion market that is already dealing with tight supply, causing spot prices to rise. “The 2022 official set of coins, for instance, was totally sold out on my site yesterday,” he said. While the Melbourne coin shop owner couldn’t put an exact figure on the future value of coins with the queen’s image, he told that demand for the first and last issues under any particular monarch would be constant. Visitors were greeted with a message apologizing for “a particularly high volume of traffic.” On Sunday morning, there was a wait to access the British Royal Mint website. “Collectors are frenzied, and post-market prices are soaring,” he said, adding that business increased five-fold in the days after the queen’s death. The owner of a Melbourne coin shop called the demand for coins with the queen’s likeness “insane.” According to in Australia, “Collectors are scrambling to get their hands on coins with Queen Elizabeth’s face as prices skyrocket after her death.” There was an immediate and dramatic surge in demand for gold and silver bullion coins bearing the queen’s effigy upon her passing. The recent death of Queen Elizabeth II is squeezing gold and silver bullion coin markets that were already strained by tight supplies.
Buying Gold & Silver with Cryptocurrency.Buy Gold the Ultimate Monetary Insurance Policy.
0 kommentar(er)
