Genuine collectors!

[izax]

Hello and good evening.

Firstly I have not read all the rules of this forum so apologies beforehand.

I am NOT a coin collector, unless of course I take into consideration my collection of full sovereigns (I have had one given every birthday since born, by my parents, so quite a few really).

I have come on here to ask about where (dare I say it, because it has probably been discussed to death) do I take a large number of these 'mule 20p' coins so they go into collections and NOT 'cashed in' on eBay?

Only last week I went through some bagged coins I had from the bank in 2009 and discovered THREE full bags of these coins, so 150 in total and are in almost unmarked condition.

I have noticed that they are selling for high amounts on the auction site. I am not interested in making a profit on these (I don't need the money) so certainly would not expect anyone I gave them to, to do the same! I may consider giving them to collectors but would need to be assured they would not end up been sold on for profit.

Mr F

[Colin G.]

Hello and good evening.

Firstly I have not read all the rules of this forum so apologies beforehand.

I am NOT a coin collector, unless of course I take into consideration my collection of full sovereigns (I have had one given every birthday since born, by my parents, so quite a few really).

I have come on here to ask about where (dare I say it, because it has probably been discussed to death) do I take a large number of these 'mule 20p' coins so they go into collections and NOT 'cashed in' on eBay?

Only last week I went through some bagged coins I had from the bank in 2009 and discovered THREE full bags of these coins, so 150 in total and are in almost unmarked condition.

I have noticed that they are selling for high amounts on the auction site. I am not interested in making a profit on these (I don't need the money) so certainly would not expect anyone I gave them to, to do the same! I may consider giving them to collectors but would need to be assured they would not end up been sold on for profit.

Mr F

Mr F welcome to the forum and an interesting first post!! The biggest problem with your approach is that inevitably a number of coins would end up getting sold for profit, whilst your best efforts may be to prevent that, it is inevitable.

If you went to a coin fair and gave them to 150 collectors, I would guess that only a percentage would genuinely hold on to the coin or keep it in their collection. I know that may seem like a negative viewpoint, but I am just being honest

[izax]

Thank you for the reply.

I did consider to just use them up in the numerous coffee machines I come across or even return them to the Mint.

I cannot see why the coins are selling so high, is it that the auction site sellers are dictating the prices? I can almost buy a gold sovereign and I know which i would prefer!

[Peter]

I would like one but for £50 approx it has never been a priority coin.If I had one I would keep it (but the other 149 would buy some interesting pre decimal coins

[Chingford]

Hello and good evening.

Firstly I have not read all the rules of this forum so apologies beforehand.

I am NOT a coin collector, unless of course I take into consideration my collection of full sovereigns (I have had one given every birthday since born, by my parents, so quite a few really).

I have come on here to ask about where (dare I say it, because it has probably been discussed to death) do I take a large number of these 'mule 20p' coins so they go into collections and NOT 'cashed in' on eBay?

Only last week I went through some bagged coins I had from the bank in 2009 and discovered THREE full bags of these coins, so 150 in total and are in almost unmarked condition.

I have noticed that they are selling for high amounts on the auction site. I am not interested in making a profit on these (I don't need the money) so certainly would not expect anyone I gave them to, to do the same! I may consider giving them to collectors but would need to be assured they would not end up been sold on for profit.

Mr F

Mr F welcome to the forum and an interesting first post!! The biggest problem with your approach is that inevitably a number of coins would end up getting sold for profit, whilst your best efforts may be to prevent that, it is inevitable.

If you went to a coin fair and gave them to 150 collectors, I would guess that only a percentage would genuinely hold on to the coin or keep it in their collection. I know that may seem like a negative viewpoint, but I am just being honest

[Chingford]

Try again,

If you are not looking to make a return, you could give them to a Charity organisation to profit, potentially you have around £7,500.00 at current selling prices, that way you can be sure the right people benefit.

John

[azda]

return them to the mint, that way you're guaranteed that no one can profit, plus you'll get your money back...........As the meercat says.....simples

[Colin G.]

"or even return them to the Mint"

Whoa........ I guarantee you someone will still profit from them if you do that, you can guarantee they would re-circulate back into the coin market

Do they not make enough by us lot hoarding their coins for them

These 20p's will always be a highly priced collectable due to the fact that none collectors are even aware of them. I am like you Peter and will hold onto one if I ever come across one in my change or see one at a "reasonable price". I always thought they would drop down to about £20 once the stampede had subsided, but the media keep hyping them up so they keep on holding their price. It is just one of those coins that I don't think collectors are desperate to own.......yet

[SionGilbey]

I'd still buy one if it was going for around £30, even though I only have real interest in non-error coins of the 18th, 19th and 20th century.

The London Mint will buy them for £100 a piece but they will just cover them with enamel and sell them for much much more.

[izax]

I will hold on to a few, maybe one for each of my children and up to yet FIVE grand-children!

I have a plan....... I believe I can bring the price right down on ebay. I will put a single coin on there on the maximum auction time (28 days??). I will put the start bid at 20p and put in the description that whoever 'wins' the bidding will only pay 20p plus the cost of the listing and final commission. eg If it is won @ £50 they would pay 20p + £2 listing + £2.50 commission, therfore a total of £4.70! I would also add that I will auction off the remaining 120 or so this way. I have enough coins to do this for TEN YEARS. Should keep the false-high prices down

Comments please.

[Sylvester]

I bought a 20p mule off ebay back in Jan 2009 for about £20, I kind of kick myself because the week before they were only £15! I looked two weeks later to buy another and by that time they were £80+ so I thought, no chance.

I want a few more of the mules, but there's no way i'd pay any more than £20 for one!

[Hussulo]

They were never that rare, with an estimated production of 100,000 , however they seemed to have grabbed the public's eye and command a large premium.

I would like to own one but don't plan on spending £50 etc..

I like your idea however. If people get wind of your plan they will bid it uptil they win only expecting to pay 20p + £2 listing + £2.50 commission, therfore a total of £4.70. Thus you may get silly bids like £10,000 etc for one..

You would be better to list them at £4.70 buy it now, one at a time, but guaranteed the first batch of buyers will just flip them for a quick profit.

[Rob]

I will hold on to a few, maybe one for each of my children and up to yet FIVE grand-children!

I have a plan....... I believe I can bring the price right down on ebay. I will put a single coin on there on the maximum auction time (28 days??). I will put the start bid at 20p and put in the description that whoever 'wins' the bidding will only pay 20p plus the cost of the listing and final commission. eg If it is won @ £50 they would pay 20p + £2 listing + £2.50 commission, therfore a total of £4.70! I would also add that I will auction off the remaining 120 or so this way. I have enough coins to do this for TEN YEARS. Should keep the false-high prices down

Comments please.

You don't have enough to control the market. The mint estimates that between 100-200,000 were made. At the height of the feeding frenzy on ebay, this supposedly rare coin was the subject of 570 listings. That was just on one day. Most of the original mintage is still out there.

[izax]

They were never that rare, with an estimated production of 100,000 , however they seemed to have grabbed the public's eye and command a large premium.

I would like to own one but don't plan on spending £50 etc..

I like your idea however. If people get wind of your plan they will bid it uptil they win only expecting to pay 20p + £2 listing + £2.50 commission, therfore a total of £4.70. Thus you may get silly bids like £10,000 etc for one..

You would be better to list them at £4.70 buy it now, one at a time, but guaranteed the first batch of buyers will just flip them for a quick profit.

I understand that but the more they bid, the more they will have to pay for ebays' commission, that's why i would add this clause. I could also add in the listing that i will remove ANY bids over a certain amount

ps, one has just sold for £80 !!!

[declanwmagee]

Spend 'em!

That way those who are interested will find 'em; those who aren't, won't. Just don't give 'em back to a bank...

[Boomstick]

Izax, I'd be tempted to put the whole lot on in one go. Then you'd be taking the profit and could make sure it went to a good cause, should that be your intention. Don't think I could face the hassle of single listings for a decade!

[Red Riley]

I can understand that you don't feel the need to profit from them and don't particularly want the hassle of selling them on e-bay. Unfortunately, the time for them to appeal to real collectors as opposed to speculators is not yet and you would have the Dickens of a job preventing those whom you gave the coins to from selling them at a profit.

As a previous contributor said, if you want someone to benefit, then give them or sell them at face value to a charity who would be only too pleased to get volunteers to sell them on their behalf.

Up to you of course...

[RLC35]

IZAX,

As a way of promoting the coins into the hands of young collectors, you might issue some of the coins to the local Boy Scouts Councils, and Girl Scouts Councils, with the condition that they be awarded to young people who pass their "coin collecting" merit badge requirements. What a nice surprise, and reward, to young scouts who are wishing to become more knowledgeable about numismatics.

[scott]

i would love one of these for my collection, so would never sell it persoannly, selling these coins just stops the people who want one, getitng them without giving someone £50.. its a 20p and thats is its value

[Gary D]

IZAX,

As a way of promoting the coins into the hands of young collectors, you might issue some of the coins to the local Boy Scouts Councils, and Girl Scouts Councils, with the condition that they be awarded to young people who pass their "coin collecting" merit badge requirements. What a nice surprise, and reward, to young scouts who are wishing to become more knowledgeable about numismatics.

I got my scout collectors badge with my coin collection, I remember I had to take my collection along to the local museum and show to the curator who signed it off to collect the badge.

Does that mean I get one.

[declanwmagee]

any spare change, Guv?

Hey that's an altruistic idea...

[Peter]

i would love one of these for my collection, so would never sell it persoannly, selling these coins just stops the people who want one, getitng them without giving someone £50.. its a 20p and thats is its value

I agree if I had one I would never sell it.

[SionGilbey]

Personally, if I was wealthy enough not to need spare money I would sell them for £50 each, make 7 and a half thousand and give it to charities or youth organizations or something on one of those great big cheques.

[Flash]

Don't want to sound too obvious or patronising but we have confirmed that these are the undated on both sides type and not just the new design?

[moneyer12]

i have quite a good collection of error coins from around the world and if you want to donate one to my collection then please feel free...................it certainly would NOT be sold.