How to read mintage figures

Mintage is the total number of coins struck for a given issue. For UK circulation coins, mintage is set by HM Treasury and the Royal Mint based on demand from banks and the Post Office. For commemoratives, mintage is set by collector demand and Royal Mint product strategy. Lower mintage does not always equal higher value — design popularity, condition and demand all factor in.

  • Under 250,000: genuinely rare, almost always commands premium (e.g. 2009 Kew Gardens 50p, 2023 Atlantic Salmon 50p)
  • 250,000 - 1,000,000: scarce, usually trades 5-30× face value in good condition
  • 1m - 5m: uncommon — premium depends on design popularity
  • 5m - 10m: common but with collector interest
  • 10m+: mass-circulated, face value unless in high grade