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 Replies: 16 / Views: 4,033 |
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Pillar of the Community
United States
4212 Posts |
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Pillar of the Community
United Kingdom
837 Posts |
Quote:I don't think I've ever seen anything so bizarre in the Coin World! Its amazing, all heck has broken loose, its like Bedlam on ebay !  A huge number of those coins have suddenly been listed since yesterday - I doubt there is that many left in circulation - if any are still out there will be gone before the end of the year ...  |
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Pillar of the Community
Germany
1064 Posts |
I understand that the mint wants to make people more interested in coins, and having "rare" coins can help people, and getting free advertising for them, but it also seems to make coin collecting a little less accessible for people who just want to collect in a cheap way, like kids and things like that.
I don't have one of these, and now it looks like I never will.
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Pillar of the Community
United Kingdom
709 Posts |
This same fuss happened with the dateless 20p from 2008.
My suggestion:
If you want to sell, sell now.
If you want to buy, wait a while until the hysteria dies down.
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Pillar of the Community
United Kingdom
1324 Posts |
 The dateless 20p have never made it back to the £250 they were selling at at one point. Just to put these into perspective, the dateless 20p has perhaps a mintage of 200,000 (max) according to the mint, these 50p have a mintage of 210,000 plus all the mint sets (unlimited mintage) and 100,000 (?) proof sets..... Edited by andyg
02/22/2014 04:59 am
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Pillar of the Community
Germany
1064 Posts |
Yeah, clearly someone or quite a few people are making a killing out of this. You have to wonder how many the person who made the statement has/had and how much money they've made out of it.
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Valued Member
 United Kingdom
287 Posts |
new coins are not appealing to me, so I won't be rushing out to buy any... but I sure will keep an eye out for them in my change
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New Member
United Kingdom
7 Posts |
I bought this for £12.50 off ebay few weeks ago as it was no secret only 210,000 where made its on The Royal Mint website, I've listed it back on ebay as like the poster somewhere above said the value will go crazy as its been in the paper , a few weeks later I will buy it back for £12.50 again probably...I hope lol |
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Pillar of the Community
Canada
2805 Posts |
Wow! Another really rare modern issue. Reminds me of Russia's Chechnya coin... sadly Canada has yet to experience a really good bout of commemorative hysteria. Part of me wonders if this low mintage was a deliberate ploy to make well-meaning Brits hang on to every commemorative coin they find, not just this one.
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Pillar of the Community
United Kingdom
837 Posts |
Quote:it was no secret only 210,000 where made its on The Royal Mint website good point  and looking through those figures you can easily spot which commemorative coins sell for profit or will sell for profit in years to come for example the 2002 commonwealth games 2 pound coins are now commanding a very decent profit ..... Quote:
Part of me wonders if this low mintage was a deliberate ploy to make well-meaning Brits hang on to every commemorative coin they find, not just this one. because looking at the numbers of commemorative coins issued for circulation recently they are in way lower numbers than commemorative coins from 10 years ago (some of which can still be easily found today in circulation) ....I guess The Royal Mint is happy people will start to take more notice of coins |
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Pillar of the Community
Germany
1064 Posts |
The mint makes money from people buying coins, it doesn't make much money from people collecting them from circulation. But because they circulate they are more collectible as coins, but reduce the mintage and get the hype and hysteria and get the free publicity.
Though I think they intended 3 million of each Olympic coin, and only produced 1 million at most, probably because of the economic situation. So that plays a part.
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Pillar of the Community
Canada
2805 Posts |
Actually, my new theory is that the mintmaster has socked away a couple thousand and is just waiting for his chance to unload them all and retire somewhere sunny.
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New Member
United Kingdom
25 Posts |
I think all that happened was The Royal Mint launched folders called the Great British Coin Hunt at end of 2013 and one of those was for 50p 's of which the Kew Garden one is to only rare one. I picked up 3 for the kids at £8 each for Christmas and baulked at that at the time. Lucky did it soon as came out! Guess the next one will be the £2 Northern Ireland Flag version of the Commonwealth Games one for that £2 folder, currently £15 but perhaps less will collect them as 30x£2 is a bit more uncommon as figure most will do 50ps on back of the Olympic 2011 folder and possibly £1 coins only. Expect a lot of complaints that got the England flag as very similar for novices that these folders attract |
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Pillar of the Community
United Kingdom
1687 Posts |
Actually, mints can make money from folks collecting coins from circulation. The term for this is called seigniorage. Seigniorage arises from the difference between the face value of the coins and the cost to produce and distribute them. Add to this the profit from selling the four different albums and the completer medallions. These folks also get added to the Royal Mints marketing lists and some of these folks will buy other items from The Royal Mint. |
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Pillar of the Community
United Kingdom
837 Posts |
Quote:
Actually, mints can make money from folks collecting coins from circulation.
The term for this is called seigniorage. Seigniorage arises from the difference between the face value of the coins and the cost to produce and distribute them. That is so true ....if no one pulled out coins from circulation the mint would have less work due to less demand for new coins and therefore eventually there would be less seigniorage as well ... |
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Replies: 16 / Views: 4,033 |
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Posted 02/21/2014 5:00 pm
