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Unbelievable High Prices For Old Coins

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Pertinax's Avatar
United Kingdom
2135 Posts
 Posted 01/29/2013  9:49 pm Show Profile   Bookmark this topic Add Pertinax to your friends list Get a Link to this Message Number of Subscribers
I see from the latest brochure from The Royal Mint that it seems to have taken to dealing in old coins.

Not very old, George V and George VI sixpences in circulated condition at £30 each.
Even £5 would be ridiculous.

Brochure extract:
Unbelievable-High-Prices-For-Old-Coins

I deplore this marketing strategy which seems out of line with a serious institution. I wish there were some way that I could persuade them not to go down this route. I wonder if some bright spark has doubled the return they have to produce each year for the Exchequer.

Valued Member
Coinaholic73's Avatar
United Kingdom
298 Posts
 Posted 01/29/2013  9:58 pm  Show Profile   Bookmark this reply Add Coinaholic73 to your friends list Get a Link to this Reply
Chuck it in a box, slap Royal Mint on it and add x10 the price. What's new!? Totally agree with your sentiments but hey someone will pay for it.

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Bacchus2's Avatar
United Kingdom
2891 Posts
 Posted 01/30/2013  03:03 am  Show Profile   Bookmark this reply Add Bacchus2 to your friends list Get a Link to this Reply
I agree - this is almost unethical given the hugely over inflated price for a coin worth 50p. Probably trying to tap into the wedding gift market.
Valued Member
United Kingdom
62 Posts
 Posted 01/30/2013  06:14 am  Show Profile   Bookmark this reply Add Mr_Stephen to your friends list Get a Link to this Reply
To be fair, one of these *is* lucky, and the other is, erm, weddingy.

I suppose that justifies the cost?

I've bought seven.
Valued Member
greeniejim's Avatar
Ireland
215 Posts
 Posted 01/30/2013  7:48 pm  Show Profile   Bookmark this reply Add greeniejim to your friends list Get a Link to this Reply
I suppos the "Lucky" and "Weddingy" and the wee fancy box justify it, I see on the website the give details of "Wedding Traditions" The forgot to add in England we can put an old sixpence int a nice new box and flog it to the public suckers........And no doubt all we'll get for justification is " The Royal Mint are a business", and all business' intent is to make money, yeah yeah yeah, It's still a ripoff,
I annually purchase my coin proff year sets from The Royal Mint, and it appears to be they simply think of a price, any price higher than the previous year, and lets see how many mugs like me purchase them, well as yet I have not purchase 2013 proof set, Its being sold at £110, Last years set was £55 for a 10 coin set, This years is a 15 coin set..........somebody do the maths, a 50% increase in coin count, but 100% increase cost count, I would really love to hear from James at The Royal Mint for his version of the pricing structure. Oh and what about all the over priced commemorative crap they flog every year to but thats a different story we can possibly discuss another time.
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Gothic Florin's Avatar
United States
2541 Posts
 Posted 01/30/2013  11:01 pm  Show Profile   Bookmark this reply Add Gothic Florin to your friends list Get a Link to this Reply
This is just wrong. I don't buy much from The Royal Mint because the prices are awful. But this just screams caveat emptor.
Pillar of the Community
United Kingdom
1351 Posts
 Posted 01/31/2013  08:54 am  Show Profile   Bookmark this reply Add peter1234 to your friends list Get a Link to this Reply
They were selling pre 47 6ds to COLLECTORS for £20 a while back..av circulated.Worth about 75p.
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philadelphian's Avatar
United States
3253 Posts
 Posted 01/31/2013  09:24 am  Show Profile   Bookmark this reply Add philadelphian to your friends list Get a Link to this Reply
Come on, all the good things in Britain that are public works can't be funded by Lottery money alone! Or would you rather your taxes be even higher?
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Pertinax's Avatar
United Kingdom
2135 Posts
 Posted 01/31/2013  10:19 am  Show Profile   Bookmark this reply Add Pertinax to your friends list Get a Link to this Reply
I wouldn't like higher taxes, but equally we could do without Trident, waging unwinnable foreign wars, or supporting European food mountains, and clearly those will continue.

I just think it's a sad reflection that the once renowned and world esteemed Royal Mint which once coined for most of the world has lowered its commercial sights to selling old coins at excessive prices rather than competing and minting coins for other countries.
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Bacchus2's Avatar
United Kingdom
2891 Posts
 Posted 01/31/2013  10:28 am  Show Profile   Bookmark this reply Add Bacchus2 to your friends list Get a Link to this Reply
I agree. I think the Canadian mint is on top of its game. Even though I wouldn't buy anything modern I can appreciate what they are doing there.
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Coinaholic73's Avatar
United Kingdom
298 Posts
 Posted 01/31/2013  11:49 am  Show Profile   Bookmark this reply Add Coinaholic73 to your friends list Get a Link to this Reply

Quote:
I think the Canadian mint is on top of its game


Aside from the ghastly milk spots on their bullion coins, that is!
Valued Member
Coinaholic73's Avatar
United Kingdom
298 Posts
 Posted 01/31/2013  11:53 am  Show Profile   Bookmark this reply Add Coinaholic73 to your friends list Get a Link to this Reply

Quote:
I just think it's a sad reflection that the once renowned and world esteemed Royal Mint which once coined for most of the world has lowered its commercial sights to selling old coins at excessive prices rather than competing and minting coins for other countries.


Agreed here, I also didn't really like James from The Royal Mint's answer about the new 999 Britannias being particularly poor quality compared to previous years. In essence 'tough luck this is bullion' let me direct you to the RM website where we can extract 3x the price from your wallet.
New Member
BostonJo's Avatar
United Kingdom
33 Posts
 Posted 01/31/2013  5:55 pm  Show Profile   Bookmark this reply Add BostonJo to your friends list Get a Link to this Reply
Part of me wishes I could sell George V/VI silver sixpences at £30 each - I could retire to a sunny spot and spend my days looking at coins. The rest of me (mostly my conscience) warns me that I would hate being dishonest, conning people out of their money just for a huge profit.

Actually, I don't think I could do it, my family would disown me and my friends would shun me.

I wonder how many the Mint will sell; I doubt they'll reveal the answer if were to make a Freedom of Information request.

Valued Member
OddCoins's Avatar
Canada
271 Posts
 Posted 01/31/2013  6:49 pm  Show Profile   Bookmark this reply Add OddCoins to your friends list Get a Link to this Reply
That's strange. The Canadian mint should do something like this with pennies.
Valued Member
greeniejim's Avatar
Ireland
215 Posts
 Posted 02/20/2013  1:55 pm  Show Profile   Bookmark this reply Add greeniejim to your friends list Get a Link to this Reply
How come we have not had a response from The Royal Mint representative on this thread.
I thought there were a few valid unanswered questions that merit some sort of response from them, or do they operate a selective response system on here?

I suppose in a few years time they will be selling the recalled 2008 mule 20p coins at a very overinflated price.

At Present not including the items mentioned at the start of this thread, the Main uncirculated 2013-commemorative coins are
Ironside 50p for £8,
2 x "Floral" one pound coins for £18
Guinea 350th Anniversary £2 coin for £10
London Underground 2 X £2 coins for £20
Coronation 60th Anniversary £5 coin for £13
again is it just my maths or is there no consistency in this pricing structure?
How do they arrive at the selling price with these items and the others mentioned.
Valued Member
United States
55 Posts
 Posted 03/02/2013  3:56 pm  Show Profile   Bookmark this reply Add coinpictures to your friends list Get a Link to this Reply
Ugh. I could pull these out of the melt bag at spot at my local dealer every day.
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