2022 Memorial Coinage: The Charles III Tribute to Queen Elizabeth II
Queen Elizabeth II died on 8 September 2022 after seventy years on the throne. King Charles III's first numismatic act was a series of memorial coins issued in late September and October 2022 — the £5 In Memoriam crown, the memorial 50p, and the memorial sovereign. Demand was unprecedented: silver proofs sold out in hours, queues formed at the Royal Mint Experience from 6am, and resale prices ran 200–400% above issue price within weeks. This guide covers every issue, every format, mintages, realised auction prices, and why 2022 is the only year in modern British numismatics carrying both Elizabeth II and Charles III obverses.
Background: the death of Queen Elizabeth II
Queen Elizabeth II died at Balmoral Castle on the afternoon of 8 September 2022. Her reign of 70 years and 214 days was the longest in British history. King Charles III acceded immediately under common-law principle ("the King is dead, long live the King") and was formally proclaimed at the Accession Council on 10 September.
Coinage transition was already in long-term planning at the Royal Mint, which had held a confidential Charles III obverse design programme for several years against the eventual accession. The new portrait, designed by sculptor Martin Jennings, had been completed and formally approved by the King in July 2022 — the first new monarch portrait in 70 years. It was unveiled publicly on 29 September 2022, three weeks after the Queen's death.
The Royal Mint's production calendar continued through the transition. Coins struck before 8 September 2022 carried the Jody Clark fifth definitive portrait of Elizabeth II, introduced in 2015. Coins struck from 8 September onwards carried the new Charles III portrait. Both bear the 2022 date. This is the unique numismatic feature of 2022: a single calendar year carrying two different monarchs on the obverse.
The 2022 memorial 50p
The 2022 memorial 50p was the first circulating coin to feature the Charles III portrait. The obverse shows the new monarch facing left, uncrowned (a deliberate choice referencing the convention that successive monarchs face the opposite direction from their predecessor). The reverse is the existing royal shield design originally introduced for the 2008 50p, by Matthew Dent.
A subtle but important historical detail: the 2022 memorial 50p was the first UK 50p ever to carry an uncrowned monarch on the obverse who was not Elizabeth II. Every previous Charles III 50p since (the 2023 Coronation 50p with its St Edward's Crown reverse, for example) shows the new King in the same Jennings portrait. The 50p was chosen as the lead circulating denomination for memorial release because of its size, visibility, and place in British everyday economic life.
| Format | Mintage | Issue price | Realised range (2026) |
|---|---|---|---|
| Cupronickel BU (sealed pack) | ~9.6M (circulating) | £5 (sealed pack) | £6 — £15 |
| Sterling silver proof | 7,000 | £75 | £120 — £180 |
| Sterling silver Piedfort | 3,500 | £130 | £220 — £350 |
| 22-carat gold proof | 525 | £1,165 | £1,800 — £3,000 |
The 2022 £5 In Memoriam crown
The £5 commemorative crown was the headline memorial issue. Released on 3 October 2022, it was the first British coin specifically designed to commemorate the death of a monarch since the 1936 George V memorial crown. The reverse, by John Bergdahl, depicts Queen Elizabeth II in profile within a wreath border, with the inscription "ELIZABETH II 1926–2022".
The obverse carries the Martin Jennings Charles III portrait, making this the first crown-sized British coin showing both monarchs — predecessor on the reverse, successor on the obverse. The juxtaposition is deliberately solemn: Charles III faces left in mourning posture, his late mother in the wreath behind him.
| Format | Mintage | Issue price | Realised range (2026) |
|---|---|---|---|
| Cupronickel BU | ~100,000 | £13 | £15 — £30 |
| Sterling silver proof | 7,500 | £105 | £180 — £280 |
| Sterling silver Piedfort | 3,250 | £195 | £320 — £480 |
| 22-carat gold proof | 350 | £3,930 | £3,500 — £5,500 |
| 5oz silver proof | 100 | £545 | £850 — £1,400 |
Why demand was unprecedented
The combination of factors driving demand for the 2022 memorial coinage was unique:
- Emotional weight. Queen Elizabeth II was the only monarch most British adults had ever known. Her death triggered a national period of mourning that flowed into commercial demand for tangible mementos. Memorial coins were the most accessible and historically significant of those mementos.
- Historic regnal change. The first new monarch portrait on UK coins in 70 years. Collectors who had never bought a coin before bought one for this issue.
- Limited proof mintages. The Royal Mint capped the silver and gold proofs at modest numbers (7,500 silver proof crown, 350 gold proof crown). Collectors knew these would sell out and acted accordingly.
- Compressed release window. The memorial coinage launched within three weeks of the Queen's death — an extraordinarily fast turnaround for the Royal Mint, who normally plan releases 18 months in advance. The fast launch caught the peak of public emotional response.
The Royal Mint's online retail platform crashed twice in the 48 hours after launch. The Royal Mint Experience visitor centre at Llantrisant reported queues forming from 6am. The silver proof £5 crown sold out in under four hours; the gold proof in under twenty minutes. eBay UK secondary-market listings in October 2022 commanded 200–400% above issue price for the silver and gold proof formats.
The 2022 memorial sovereign issues
Alongside the 50p and crown, the Royal Mint released a 2022 memorial sovereign series pairing the Martin Jennings Charles III obverse with a special memorial reverse featuring the Tudor crown over a wreath of roses, thistles, shamrocks and leeks — the floral emblems of the four nations of the United Kingdom.
| Format | Mintage | Issue price | Realised range (2026) |
|---|---|---|---|
| 22-carat gold proof full sovereign (memorial) | 200 | £805 | £2,500 — £4,500 |
| 22-carat gold proof half sovereign (memorial) | 200 | £425 | £950 — £1,800 |
| Sterling silver proof commemorative sovereign £2 | 7,000 | £112 | £140 — £240 |
| Five-coin gold proof memorial set | 75 | £14,250 | £26,000 — £42,000 |
The five-coin set — quarter, half, full, double and quintuple sovereign — with a mintage of just 75 represents one of the smallest-mintage modern Royal Mint sovereign sets ever produced. Realised prices have grown sharply through 2024–2026 as collectors consolidated demand. See our Charles III sovereign values guide for the full Charles III sovereign date inventory.
2022: the dual-obverse year
No year in modern British numismatic history matches 2022 for obverse complexity. Circulating coins struck before 8 September carry the Jody Clark fifth definitive Elizabeth II portrait. Circulating coins struck from 8 September carry the Martin Jennings Charles III portrait. Both groups bear the 2022 date.
For 50p coins, this means a 2022-dated coin you receive in change could carry either obverse. The Charles III memorial 50ps entered circulation from late October 2022. Through November and December 2022, mixed batches were dispensed: the Royal Mint estimates the final split for 2022-dated 50ps was approximately 70% Elizabeth II / 30% Charles III by mintage volume. This is unique.
A serious collector building a complete year-set of British coinage for 2022 needs both obverses for completeness. The Royal Mint did not issue a special "both obverses 2022 set"; collectors assemble it themselves. Expect to pay £30–£50 for a matched pair of 2022 50ps in BU presentation packs (one each obverse), or upwards of £1,500–£2,500 for matched proof set components depending on the denomination.
Verify the obverse of any 2022-dated coin you handle: use the 2022 birth-year coin tool to see the full year list, then check the obverse portrait against the Royal Mint's published Jody Clark and Martin Jennings reference images.
Spotting authenticated 2022 memorial coins
The high realised prices on proof and gold issues have attracted counterfeiters since late 2023. Authentication priorities differ by format:
- Cupronickel circulating 50p and BU £5 crown. Counterfeiting these is economically pointless — the coins are widely available at near-face value. Routine authentication (weight, magnet, edge) is sufficient.
- Sterling silver proof formats. The original Royal Mint presentation case (a black flock-lined box with embossed Royal Mint logo), the numbered Certificate of Authenticity, and the sealed coin capsule are the primary authentication. Any silver proof offered without the original packaging should be regarded with suspicion. Open eBay listings showing only the coin in a generic capsule are a common counterfeit pattern.
- Gold proof formats. Prefer PCGS or NGC slabbed examples (PR70 DCAM or PF70 UCAM) where available. The grading services authenticate before encapsulation, so a slabbed coin is essentially guaranteed genuine. Raw gold proof £5 crowns and sovereigns at £3,000+ price points should be examined under 10x magnification for die-state matches against verified Royal Mint reference images. See our how to spot fake British coins guide for the full multi-coin protocol.
Where 2022 memorial coinage sits in a Charles III collection
The 2022 memorial coinage forms the foundational first year of any Charles III collection. The headline pieces — the memorial 50p, the "In Memoriam" £5 crown, the memorial sovereign — together establish the design language and emotional context of the new reign.
They precede:
- The 2023 Coronation 50p — the first formal commemorative of the new reign, marking the May 2023 coronation at Westminster Abbey.
- The 2023–2024 first definitive Charles III circulating coinage with the King's Privy Council animal reverses (Atlantic Salmon 50p, dormouse 5p, etc.).
- Every subsequent Charles III sovereign, Britannia, £2 commemorative and themed series.
A complete first-year-of-reign set in matched proof formats — memorial 50p silver proof, In Memoriam silver proof crown, memorial silver proof £2 sovereign — represents the foundational acquisition for any serious Charles III collector. Total investment at issue prices was approximately £290; secondary market today is approximately £480–£700 in original packaging. See our Charles III coin guide for the full new-reign issue list and our Elizabeth II coins value guide for the predecessor reign.
Featured 2022 coins on MyCoinage
Browse every 2022 UK coin in our database →
Related guides
- Charles III coin guide — the full first-reign issue inventory from 2022 onwards.
- Elizabeth II coins value guide — the seventy-year predecessor reign, every denomination and theme.
- Elizabeth II sovereign values — the full QEII sovereign date list including the 2022 final issue.
- Charles III sovereign values — the new-reign sovereign issues from 2022 memorial onwards.
- 2023 Coronation 50p — the first formal commemorative of Charles III's reign.
- Best UK coin investments 2026 — how the 2022 memorial coinage sits in the modern UK numismatic portfolio.
- 2022 birth year coin tool — every UK coin issued in 2022 with mintage and value data.