Coin collectors’ fury as £55 silver coins turn BROWN
COIN collectors have been left fuming after their £55 commemorative coins turned brown making them "worthless".
The discolouration has occurred on a range of different silver proof 50p coins, including designs celebrating Stephen Hawking and Sir Isaac Newton, and ones marking Brexit.
The majority of affect coins were minted in 2019 and 2020, although some date back to 2017.
While most of the browning coins are 50ps, the problem has also occurred in a 20p coin too.
Discolouration on coins is called "toning" or "tarnishing" and is a natural process caused by a chemical reaction between the metal surface and the oxygen in the air.
The speed at which it happens depends on the environment the coins are kept in and usually occurs in older coins - but it can significantly devalue its worth.
It's £495 more than what a circulated version of the coin fetched on the a few months ago.
Affected coins are all being stored in the packaging issued by the Royal Mint, leading Colin Bellany - who's behind Coin Hunter - to believe that there may be a chemical in the foam holder that is causing them to change colour.
He said that a large number of customers are upset that the coins, which are often bought as an investment, have devalued in this way.
Colin added: "As these coins have been stored in many different households, often alongside other coins that are not tarnishing – The Royal Mint will want to carry out tests on these coins and the packaging to try and determine the cause.
"If the cause relates to any part of the manufacturing process of the coin or packaging, I would hope that The Royal Mint will offer a replacement or refund to all affected customers."
How to safely store valuable coins
HERE are some tricks to keep your valuable coins safe from toning:
- Store your coins in individual containers
- Put it in a clear, air tight holder that lets you see the coin from both sides
- Avoid putting them in clear plastic sandwich bags because they can still rub against each other an may cause scratches or marks
- Store your collection in a folder or album, although tarnishing may occur quicker than in an airtight container
- Keep them out of a damp environment. You can use silica gel to help prevent damp
- Wear clean, white gloves when handling the coins
- Steer clear of using PVC materials as it traps moisture and releases acidic gases which can damage the collection.
The Royal Mint makes over 200,000 silver proof coins every year.
Over the years, it has "continually improved the production process for proof coins" and as a result the more recent products are less likely to tarnish.
It told The Sun new coins changing colour like this is incredibly rare and that says there is no indication that it is a wider issue.
A spokesperson added: "All of our silver proof coins are sold in airtight containers and secure display cases to help protect the metal, and enable collectors to enjoy the design.
"Tarnishing is known to be a natural, long term side effect of silver and we recommend that customers keep coins in their protective casing.
"Storing silver in a humid or damp environment contributes to premature tarnishing, and could be a factor in this case.
"We are in contact with the customer to understand their specific circumstances – but there is no indication of a wider issue."
Circulated coins can also be valuable - here's our guide to the most valuable and rarest 50ps.
One 50p designed to commemorate 250 years since Samuel Johnson published his dictionary recently sold for £2,800.
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Plus, a rare Battle of Hastings 50p coin sold for £63,000 last month, while an Olympic swimmer error coin fetched £10,100 online.