Coin Collector

The Face Value Collection: £20, £50 and £100 The Face Value Collection are coins which the Royal Mint sells at face value on their official website. The delivery is free for these coins for mainland UK. These coins are not a coin in circulation, which means you cannot use it in shops to buy goods or deposit these coin in a bank. This is the same for all other Commemorative coins and non-general circulation coins. In the Guardian article it explains that Royal Mint told banks to not accept Commemorative or non-general circulation coins. Also, if you decide to buy coin from the Royal mint, you can only receive a refund if you bought the coin from the Royal Mint within 14 days. After 14 days you cannot receive a refund for the coin. Also if you bought the coin from a secondary markeplace, such as eBay.co.uk or eBid.net, Royal Mint would not give you a refund, as you would need proof of purchase, in your name and not by someone else. Commercial-grade fine silver or investment grade fine silver is at least 99.9% pure or 0.999 pure. Troy ounce (often abbreviated as oz t) is an imperial measurement unit which is comonly used to measure the mass or weight of precious metals, including silver. One troy ounce is defined as exactly 31.1034768 Grams. Do not get confused with the avoirdupois ounce, which equals to 28.349523125 Grams. One troy ounce of silver ISO 4217 currency code is XAG. 100% pure coin is nearly impossible because the percentage of impurities diminishes and as a result of this, it becomes more difficult to purify the metal further. According to the Royal Mint official website, royalmint.com, all these coins contain silver and the following are the weight and purity of the coins: Coin: £20 Purity: .999 fine silver Weight: 15.71 Grams Coin: £50 Purity: .999 fine silver Weight: 31.00 Grams Coin: £100 Purity: .999 fine silver Weight: 62.86 Grams Calculating the intrinsic value of the coins: The Comex silver spot price is priced in US Dollars and it sets the price of silver by ETF trades. The spot price represents one Troy ounce .999 pure silver. One the Comex, silver is represented as “XAGUSD” and priced in USD. 1 Troy Ounce = Exactly 31.1034768 grams XAGUSD:CUR 17.3837 (As of Wednesday 11th May 2016) Source: http://www.bloomberg.com/quote/XAGUSD:CUR USDGBP:CUR 0.6909GBP (As of Wednesday 11th May 2016) Source: http://www.bloomberg.com/quote/USDGBP:CUR Coin: £20 (15.71 / 31.1034768) * (17.3837 * 0.6909) = 6.0663108171977738514428714927457884708245864012218724049524907137 The intrinsic value of the £20 coins is £6.06 (As of Wednesday 11th May 2016). Coin: £50 (31.00 / 31.1034768) * (17.3837 * 0.6909) = 11.9704414597791845572711022453927079946252182328375585330061879121 The intrinsic value of the £50 coin is £11.97 (As of Wednesday 11th May 2016). Coin: £100 (62.86 / 31.1034768) * (17.3837 * 0.6909) = 24.2729661342490174603245641014640524045852005843925461091860958775 The intrinsic value of the £100 coins is £24.27 (As of Wednesday 11th May 2016). thisismoney.co.uk Article Quotes (Popular financial website Official Website): A letter dated 5 January 2016 sent to a bank branch from the Royal Mint told staff to no longer accept coins over the counter and that customers should be referred to them instead 14 day returns policy Source: http://www.thisismoney.co.uk/money/news/article-3390519/I-buy-Royal-Mint-commemorative-coins-bulk-credit-card-gain-airmiles-cash-bank-s-refusing-accept-them.html The Guardian Article Quotes (Popular National UK Newspaper Official Website): £20 coin on its way - but expert says it's only worth £8 Richard Lobel of Coincraft, said the coin displaying the traditional St George and dragon design contained little more than £8 of silver and would likely trade for less than £10 after its launch on 31 October. "Not since the 1980s has a Royal Mint coin gained in value. I doubt any dealer will give more than £8 or £9 for it," he said.” Source: https://www.theguardian.com/business/2013/sep/05/20-pound-coin-royal-mint-dealer-sceptical £20 Commemorative Coins (.999 fine silver and 15.71 Grams): 2013 £20 (Saint George and the Dragon) 250,000 Mintage 2014 £20 (Outbreak) 250,000 Mintage 2015 £20 (Sir Winston Churchill) 200,000 Mintage 2015 £20 (The Longest Reigning Monarch) 150,000 Mintage 2016 £20 (The Queen’s 90th Birthday) 150,000 Mintage £50 Commemorative Coin (.999 fine silver and 31.00 Grams): 2015 £50 (Britannia) 100,000 Mintage £100 Commemorative Coins (.999 fine silver and 62.86 Grams): 2015 £100 (Big Ben) 50,000 Mintage 2015 £100 (Buckingham Palace) 50,000 Mintage Does the coins have collectors or Numismatic value above the intrinsic value of the silver cotent and silver purity, in the aftermarket? Are these coins worth less, the same or more than the face value of the coin, in the aftemaket? All constructive replies appreciated. Post below and email me at coincollector@protonmail.com if you have any questions. Looking forward to your reply. Username: Coin Collector Email: coincollector@protonmail.com Location: Greater London