Coin Changes to Look for in 2016

When it comes to coinage across the world, the old saying “the only thing constant is change” doesn’t necessarily apply. But there are some major changes to popular coins on the world market in the coming months.  

Read on to learn about a few global favorites and how they’ll be changing in 2016…

The Chinese Silver Panda: The Chinese have moved from the standard English measure of weight to the metric system. That means all gold and silver Panda coins from the Chinese Mint will now be delineated in grams rather than troy ounces.

Denomination Standard English Weight (troy ounces) Metric Weight (grams)
Gold 20 Yuan 0.0321 oz 1 gm
Gold 50 Yuan 0.0965 oz 3 gm
Gold 100 Yuan 0.2572 oz 8 gm
Gold 200 Yuan 0.4822 oz 15 gm
Gold 500 Yuan 0.9645 oz 30 gm
Gold 2,000 Yuan 4.823 oz 150 gm
Gold 10,000 Yuan 32.15 oz 1,000 gm (1 kg)
Silver 10 Yuan 0.9645 oz 30 gm
Silver 50 Yuan 4.823 oz 150 gm
Silver 300 Yuan 31.15 oz 1,000 gm (1 kg)

There have also been changes to the silver panda coin series. Unlike last year, the 2016 coin is marked with its weight as well as its fineness of .999 silver.  According to certain industry sources, this makes the coin more professional on the world coin market and harder to counterfeit. And as always, the obverse design of the silver panda coin has changed. This year, the coin shows a panda climbing a bamboo stalk.

The Somali Elephant: One of the fastest growing coins in terms of popularity, the Somalian Elephant gold and silver coin series features a striking new obverse design of the world’s largest land animal each year: the African elephant. The Bavarian State Mint went all out for the 2016 design, showcasing a majestic elephant, with its trunk outstretched and ears spread wide, tromping across the Serengeti.

American Coinage: In December, Congress passed legislation amending regulations governing the composition of some U.S. coinage. While former legislation required that silver coinage have a “content of 90% silver and 10% copper,” the new legislation amends that a coin must be “not less than 90% silver,” allowing for other metal alloys to take the place of copper, or coins may have higher silver content. Another change for 2016 will be the American Eagle Silver Bullion Coin’s 30th Anniversary Mint. This year, the coin will have smooth edges rather than the usual reeded edges, and this smooth edge will have an inscription commemorating the 30th anniversary.

The Royal Mint: The British Mint will be selling the last “round pound” this year as the mint looks to a new 12-sided pound for 2017. Since 1983, these 1£ coins have been popular and this year’s last mint of the round pound will attract numismatists’ attention since the coin will no longer be available in general circulation.

The Royal Mint also recently revealed the new effigy of Queen Elizabeth II, which will be featured on all Commonwealth coins. The portrait, while retaining the traditional profile of the Queen facing right, is said to be more “recognizable” of the British monarch and marks the 50th anniversary of the death of Nottingham-born sculptor Mary Gillick, who was the first artist to capture the Queen’s portrait for the nation’s coins.

Whatever surprises the world of coin collecting has yet to reveal for 2016, you can learn about them all by stopping back in to Provident Metal’s blog.

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