After the recent passing of Queen Elizabeth II, there was an immediate and dramatic surge in the demand for Gold and Silver bullion coin which bared the queen’s effigy. As the bullion coins are now going through the change of having King Charles III head put onto them, thus, coin collectors are scrambling to get their hands on the last remaining coins with the late Queens head on. The death of any monarch is always a significant event in Britain, not only for sentimental reasons, but for practical ones too, such as changes to coinage. Thus, making the old coins rise in value and become more desirable for collectors.

Retailers and businesses in all industries were affected by the Queens passing, by creating a sense of uncertainty in terms of currency and mourning periods. The long-term impact of the death of a monarch has a significant impact on the UK economy, with the changes of coins, notes, postal services and royal warrants. The Bank Of England is under a huge pressure to create new coins and notes, which will be used as the general currency in the United Kingdom.

Queen Elizabeth II held the record in being the individual, which was featured on the most currencies, appearing on the coinage of at least 45 countries during her reign. She also currently appears on all 29 billion coins which are circulating the United Kingdom, as well as those countries of the Commonwealth. The new King’s face has only recently begun to be placed onto new coinage and will be put into circulation shortly.

How does this impact gold prices?

The interest of gold for buyers is now significantly more desirable, due to the new coins coming into circulation. Many gold and silver investment involving Queen Elizabeth II has became drastically more popular, due to the rarity and demand for the coins. While it is difficult to predict the demand at such an early stage, the interest from investors and collectors for historic coins has proved to be on the rise, meaning that it is now the perfect time to sell your scrap gold.

The price for gold has spiked since the passing of the Queen, as has been explained. Gold was priced at £47.81 per gram in September 2021, and rose to £49.20 in just a month after her passing. Therefore, if you have any scrap gold which you would like to sell – whether thar be broken jewellery, earrings, gold bullion coins, etc, don’t miss out on the perfect time to get the best price for it. Here at Devon Gold, we pride ourselves in being one of he best in giving you the highest possible price for your gold, with many of our customers highly recommending us to other people.

You can sell your gold to Devon Gold by using our online forms, by popping into store, and even by phoning us. For more information on how to sell your gold to us, check out one of our many blog pages, or get in contact with us today – we will be happy to help.