copper123 Posted February 19, 2018 Posted February 19, 2018 The royal mint have just announced a new set of four NEW potter 50p coins , groan What a surprise, NOT! I wonder if there is any betting at ladbrokes on these coins becomeing an annual event 1 Quote
Guest really Posted February 20, 2018 Posted February 20, 2018 Why not write to them and advise them, I am sure that you as an 'expert' and negative moaner would be taken notice of, NOT. Quote
mrbadexample Posted February 20, 2018 Posted February 20, 2018 Hi Guest really, why not join our forum and contribute your wisdom to our discussions? 4 Quote
Stuntman Posted February 20, 2018 Posted February 20, 2018 (edited) I'm all for interesting circulating commemoratives, but this continuing infantilisation of our coinage is a shame, in my opinion. I think the forthcoming 10ps will follow a similar path, yet I'm sure I'll look out for them! Edited February 20, 2018 by Stuntman couldn't spell... 1 Quote
Unwilling Numismatist Posted February 21, 2018 Posted February 21, 2018 Personally I find transfers/paint/artificial colour on coins really really hateful. I'd buy these literally for any profit margin to be had short term from the interweb hype. 2 Quote
Stuntman Posted February 21, 2018 Posted February 21, 2018 Trying hard to find the positive - these coins are not aimed at the likes of us. If they prove the gateway drug for some other collectors who may then dip their toes further into numismatic waters, then all well and good. There's no way I would like to have any of those in my own collection, no matter how rare or valuable they may be. 3 Quote
Paddy Posted February 21, 2018 Posted February 21, 2018 With the increasing plethora of off-kilter stuff the Royal Mint is producing I have decided to restrict myself to coins from circulation only. I feel I am being taken for a mug when they bring out more and more outlandish products at exorbitant prices. I think they are in danger of "killing the goose that lays the golden egg" in the same way the Post Office has killed the First Day cover market. 1 Quote
Rob Posted February 21, 2018 Posted February 21, 2018 21 minutes ago, Paddy said: With the increasing plethora of off-kilter stuff the Royal Mint is producing I have decided to restrict myself to coins from circulation only. I feel I am being taken for a mug when they bring out more and more outlandish products at exorbitant prices. I think they are in danger of "killing the goose that lays the golden egg" in the same way the Post Office has killed the First Day cover market. Yep 1 Quote
copper123 Posted February 21, 2018 Author Posted February 21, 2018 It reminds me of the way the isle of man goverment went in the eighties , There was certainly too few comems in the eighties and nineties in the uk it prob reached a happy medium in the noughties , but its just gone crazy now Quote
mrbadexample Posted February 21, 2018 Posted February 21, 2018 1 hour ago, copper123 said: It reminds me of the way the isle of man goverment went in the eighties , There was certainly too few comems in the eighties and nineties in the uk it prob reached a happy medium in the noughties , but its just gone crazy now Gibraltar too I think. Quote
craigy Posted February 22, 2018 Posted February 22, 2018 11 hours ago, Paddy said: With the increasing plethora of off-kilter stuff the Royal Mint is producing I have decided to restrict myself to coins from circulation only. I feel I am being taken for a mug when they bring out more and more outlandish products at exorbitant prices. I think they are in danger of "killing the goose that lays the golden egg" in the same way the Post Office has killed the First Day cover market. what did theey do tot he first day covers Quote
Paddy Posted February 22, 2018 Posted February 22, 2018 3 minutes ago, craigy said: what did theey do tot he first day covers Once upon a time First day covers came out only a few times a year, were avidly collected and were deemed a reasonable investment. Then they started producing more and more, increasing the value of the stamps so that one could easily spend £30 or more on a single issue, with sometimes a dozen issues in a year. Unsurprisingly people got p*****d off with it. Now pretty much any first day cover from the 60s onwards can be bought at auction for an average of 50p each. Nobody wants them! If you speak to the stamp dealers at fairs, they won't even buy them - they have attics full of stock they cannot shift. Killed the goose that laid the golden egg... Quote
youliveyoulean Posted February 22, 2018 Posted February 22, 2018 It's disgusting quite frankly. The Royal Mint is targeting new collectors out there off the back of the success of the 1st peter rabbit coin to make a quick buck with complete disregard for their reputation and the future of numismatics. It smacks of desperation re-releasing effectively the same coin NOT ONCE BUT TWICE!!! Their short term outlook is astonishing. When these coins are worth a tenner each in a few (or several) years time which is inevitable, they've lost a whole generation of potential collectors through ill feeling towards them through the losses suffered. They are worse than any cowboy dealers out there and should be ashamed. Quote
youliveyoulean Posted February 22, 2018 Posted February 22, 2018 daily rant over...have a nice day all and enjoy the weather!! Quote
mrbadexample Posted February 22, 2018 Posted February 22, 2018 46 minutes ago, youliveyoulean said: It smacks of desperation re-releasing effectively the same coin NOT ONCE BUT TWICE!!! Isn't the design above the third Peter Rabbit? Quote
Paddy Posted February 22, 2018 Posted February 22, 2018 Unfortunately I think the RM has caught the disease from the numerous other "numismatic collectable" con merchants out there. I was called to a local shop yesterday to help evaluate a coin collection someone had brought in. My heart sank as I spotted a box full of leatherette cases from a range of the usual suspects. The usual cons: "Gold" coins that are actually layered, "limited editions" of 10000+, "collectables" that are anything but. The unfortunate owner had paid out over £8000 over a number of years as, he thought, an investment. He had sent them to one of the posh auction houses in London (I don't know which one) in expectation of a profit - they had returned it - "not interested". Hence he had tried his mate in the antique shop and I had to break the bad news. There was some gold - the world's smallest gold coins collection - and some silver (Olympics ingots). The bulk was base metal with gold or silver plating and the hideous coloured enamels. I believe he would make less than a tenth of his investment back. I left with my blood boiling. Surely it is time some ombudsman got onto these racketeers? 1 Quote
copper123 Posted February 22, 2018 Author Posted February 22, 2018 I am sure someone is working on rabbit no,4 right now Quote
Unwilling Numismatist Posted February 22, 2018 Posted February 22, 2018 1 hour ago, Paddy said: Surely it is time some ombudsman got onto these racketeers? I couldn't agree more Paddy, and the constant daytime TV ads designed to get frail minded pensioners to "invest" should be investigated too. Some of the small print is not on screen long enough to focus on, let alone read, and at no point do they explain that while you may get a "gold coin" it's value is vastly less than that of the sum you are paying for a "limited edition 'commemorative' coin". Worthless POS would be more accurate. Quote
Unwilling Numismatist Posted February 22, 2018 Posted February 22, 2018 3 minutes ago, copper123 said: I am sure someone is working on rabbit no,4 right now No, that was yesterday. Paddington Bear 50p's are the new hype. Quote
youliveyoulean Posted February 22, 2018 Posted February 22, 2018 Certainly a mis-selling scandal in the making. The other more subtle thing going on which needs regulation I believe is "insider trading" where people in the know are trading Royal Mint coins before official mintage figures are released or before a new release. I can't prove it but just before 2014 commemorative coin mintages were released, certain 2014 products shot up in value overnight on ebay. Keep an eye out for 2015 commemorative coin mintages due to be released very shortly and see what you think.... Quote
Rob Posted February 22, 2018 Posted February 22, 2018 It happens time and time again. In the past few weeks I have had a few calls from people with similar 'investments'. The most one person had spent was 43K, the others were in the 5-10K bracket. They realise they have been stung, but in every case acknowledge it was their own fault. In all cases the individuals concerned were trying to put down a nest egg for their children, or grandchildren. It was apparent that all had replied to adverts in the papers or Radio Times etc in the belief that they were respectable companies selling the various desirable products, because they were advertising in places that they respected (if you can really believe the dailies are trustworthy organs). It was also apparent they were sold them as 'collectable' coins, aimed at collectors and not investors - thus negating any investment legislation comeback. The point is, that the purveyors of all this tat are not actually doing anything illegal. There might be moral compass issues, but in the end they are making/repackaging a product and advertising it for sale. Yes, there are marketing costs which I suspect are not inconsiderable to advertise in the national media and these costs have to be covered by sales. Anybody in business knows that you have to recoup your initial outlay before you can make a profit, so if the 10000 limited edition item has a break-even point at say 3000 units, they have to promote the product heavily to pass this point. The profits are made selling units above base cost and there is no guarantee that the maximum figure is achieved for sales. The break-even point is essentially why all products are eventually reduced in price once the initial hype has died down. You sell to the lowest hanging fruit, and selling a particular item just gets harder from there on. Quote
craigy Posted February 22, 2018 Posted February 22, 2018 34 minutes ago, youliveyoulean said: Certainly a mis-selling scandal in the making. The other more subtle thing going on which needs regulation I believe is "insider trading" where people in the know are trading Royal Mint coins before official mintage figures are released or before a new release. I can't prove it but just before 2014 commemorative coin mintages were released, certain 2014 products shot up in value overnight on ebay. Keep an eye out for 2015 commemorative coin mintages due to be released very shortly and see what you think.... they only have up to 2013 on the royal mint website, where have you seen the figures Quote
youliveyoulean Posted February 22, 2018 Posted February 22, 2018 they are right at the bottom, not in order! Quote
craigy Posted February 22, 2018 Posted February 22, 2018 just noticed they have brought more of the 2016 bu ones out, at bottom of page https://www.royalmint.com/our-coins/events/beatrix-potter/?YearSpecified=2018 Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.