2016 Proof set

[Nutsaboutcoins 105]

Just seen the Royal Mint Proof Set for 2016...£145, Are they having a laugh?

[copper123 1,352]

Price is ok if there is a sovereign and half sovereign in there

[Paulus 1,942]

Just seen the Royal Mint Proof Set for 2016...£145, Are they having a laugh?

Yes, all the way to the bank! For an extra £50 or so you can have the Executive Proof Set!

[Geordie582 18]

Another reason why I don't collect milled! - I acquire them from circulation. Good enough for me.

Edited November 3, 2015 by Geordie582

[PWA 1967 1,839]

That seems out of order ,although people must buy them .

[Nordle11 564]

They're targeting the people who wait for them to come out I guess, they know how many people buy them when they come out so they've just hiked the price to see what they can get away with.

[VickySilver 775]

Hmm, wonder what the tale of the secondary market would be???? Ouch!!!!

[copper123 1,352]

In Dennis heally speak the royal mint is adopting a "screw them till the pips squeek" attitude to coin fans

[DaveG38 385]

Hmm, wonder what the tale of the secondary market would be???? Ouch!!!!

Depends on the coin and denomination. The £100 coins regularly go for £130-140 on the bay. Ditto the £20 go for a premium. I failed to buy a 2014 set from the RM at the time and now they are sold out it its quite hard to find one at all let alone at the RM price, so for some of these, particularly the most recent, the secondary market is quite good.

[Rob 2,996]

It's the last couple of years when they effectively stopped selling to the trade that the prices have rocketed.

[Nutsaboutcoins 105]

Hmm, wonder what the tale of the secondary market would be???? Ouch!!!!

Depends on the coin and denomination. The £100 coins regularly go for £130-140 on the bay. Ditto the £20 go for a premium. I failed to buy a 2014 set from the RM at the time and now they are sold out it its quite hard to find one at all let alone at the RM price, so for some of these, particularly the most recent, the secondary market is quite good.

The first £100 coin (Big Ben) sold out, but they seem to be struggling to sell the Buckingham Palace one. But just because they stamp a large so called legal tender value on it doesn't mean they are not profiteering. £100 for what is essentially a Crown is still excessive and I bet you will never be able to spend / bank them for face value if you were so inclined.

.

[richtips86 24]

I see that they have now got 5 commemorative £2 coins. They're milking it out of every possible orrifice!

Edited November 7, 2015 by richtips86

[DaveG38 385]

I see that they have now got 5 commemorative £2 coins. They're milking it out of every possible orrifice!

That's why the price has gone up.

[Nutsaboutcoins 105]

Even with the additional £2 coins an over 700% increase on face vale isn't justifiable.

[Paulus 1,942]

And this is why I do not collect decimals! Nordle is right, many, many do and buy them straight from the Mint as soon as they are released. The chances of ever getting your money back if you needed to sell are virtually zero, in nearly all cases.

The first "£20 for £20" and the £100 Big Ben (which were sold by the RM at FV and free post) are rare exceptions ... not selling for much above FV, but at least in these examples the secondary market is currently higher than the initial outlay.

[SWANNY 25]

I collect silver decimal sets , but I never buy from RM.

My collection is about 2 years behind, because that's when they start to appear for sale on the internet (some times for a lot less money than RM sold them for)

[VickySilver 775]

Aye, you've caught on. Let some other sod take the hit....

[1949threepence 3,366]

Modern day proof sets are a massive rip off.