Royal mint commemoratives

[azda]

For those buying these thinking they'll be worth a few bob now or later please read and don't waste your money

 

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

[VickySilver]

Ouch! Yes, I agree with the gist of it - is can not be called Legal Tender if it is NOT! Wasn't it Cook Islands or some such that reversed legality on their collector coins 20 or more years ago? Are we in the same league as them? I guess so....

[azda]

10 hours ago, VickySilver said:

Ouch! Yes, I agree with the gist of it - is can not be called Legal Tender if it is NOT! Wasn't it Cook Islands or some such that reversed legality on their collector coins 20 or more years ago? Are we in the same league as them? I guess so....

But surely if they are being sold as legal tender then they cannot therefor reverse that decision without inviting those who purchased them beforehand to send them back for a refund, because when they early buyers bought them, they bought coins entitled "legal tender"

[pokal02]

It's stretching it to even call them coins if they can't be used in payment for anything.  

I'd quite welcome the introduction of the £5s into circulation - £5 notes seem very difficult to obtain (mostly because the ATM's only give out £10/20) and there is a need for a circulating value between £2 & £10. (Actually I'd rather have a circulating £5 than the £2)

 

[PWA 1967]

The paper £5 being phased out as the Polymer being introduced 

[bhx7]

On 10/08/2016 at 7:28 PM, azda said:

For those buying these thinking they'll be worth a few bob now or later please read and don't waste your money

 

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

This is all really old news and has been an ongoing arguement for almost 2 years. I still purchase the £20 coins as a collectable, which is what you really have to look at them as. The silver value is probably more like £8 or so but I do like the quality and range that has been produced so far. I can't see me going for the £50 or £100 coins though.

The RM are now putting out far to many coins and raising the prices so much that I have also been put off the year sets and the commemoratives. They seem to be going more toward the likes of London Mint. Not a good thing for what used to be one of the most respected Mints in the world. They will eventually sicken off even the most avid collectors.

[Stuntman]

I agree.  The RM has really milked its potential market since about 2013 and as such has lost a great deal of its credibility for me.  I bought the commemorative proof sets in 2013,14 and 15 which I thought were nice coins in nice packaging, but there's no way I'm paying £95 for the 2016 set when the price was £65 two years ago for an equivalent set.

I liked the first two £20 coins but I have been less keen on the designs since, although I did buy a Longest Reigning Monarch one for £15 on eBay when I had a discount voucher!  The £50 coin I think is a nice design, but the £100 coins don't appeal to me at all.  I'd far rather spend that sort of money on some milled predecimal silver  

[Paulus]

It's sad but I don't even think of modern non-circulation decimal stuff as proper coins any more

[damian1986]

It's misleading calling them "legal tender" but he's a bit of a bell end for buying 30 grands worth in exchange for a few flyers' points. 

[Colin88]

99% of Commemoratives and almost anything that you buy from the RM these days,  with very few exceptions,  is only ever going to be worth the metal value (if they're silver or gold) at resale....could be worse,  you could have bought from those calling themselves London Mint and Westminster Mint and then you are looking at about 10% of what you paid for your coins !

[jacinbox]

RM is slowly becoming the next Westminster Group