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 Replies: 20 / Views: 3,324 |
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Pillar of the Community
United Kingdom
709 Posts |
Look twice before you buy anything from the London Mint Office, or their sister company the Dublin Mint office.
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Pillar of the Community
United Kingdom
2893 Posts |
Quote:
RM and Westminster you might as well throw your money on the fire. This is both funny and very true :) |
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New Member
 United Kingdom
6 Posts |
I didn't realise rm and Westminster were that bad, I like the format of the site and the coins they offer. I was wanting to sell similar coins but better prices but can't find a supplier.
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Pillar of the Community
United Kingdom
1351 Posts |
London mint office,Royal Mint,Westminster,Pobjoy mint and others most are gimmick coin minters/suppliers
The latest RM £100 coin has a knats snatch of silver in it.....keeeerching.
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Pillar of the Community
United Kingdom
2135 Posts |
I partly disagree about The Royal Mint. They are the UK government's mint, legally constituted. They may sell UK collector coins at high prices but much of that profit is subsidising UK government spending. Where I disagree, is where they offer old coins in a box at a ridiculously high price, for example "The Christmas Silver Sixpence" at £20 - see http://www.royalmint.com/shop/The_C...er_Sixpence.That, I think, is straying into the territory of what I think of as "coin marketeers", like London Mint Office. GovMint and Westminster (there are many others), and I think that tarnishes The Royal Mint's hitherto great reputation. |
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Pillar of the Community
United Kingdom
1351 Posts |
Profit!
They are ripping off the uneducated/novice coin collectors.They at least should put a warning on their products.
I would prefer them to put a few more undated 20p's out there and generate an interest
It would be good to issue a few lower mintage coin types into the system on a regular basis,a few deliberate double dies.
I wonder if any business shop will accept the £20 or £100 coins which contain a fraction of the silver value.
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New Member
United Kingdom
6 Posts |
So who would you guys purchase the commerative coins through? Does anyone know any wholesalers?
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Pillar of the Community
United Kingdom
2135 Posts |
I wait until I see them at auction usually at a discount to the issued price.
Some coins don't trade at a discount, though; I haven't seen the UK £20 coin at less than £24 at auction.
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New Member
United Kingdom
6 Posts |
I'm impatient lol. I need to find some reasonably priced shops
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Rest in Peace
 United States
1380 Posts |
Not sure what you think you are looking for as far as wholesale buying goes. Not sure how it would work in the UK, but here the US Mint, i.e., official gov't mint, equivalent of The Royal Mint, does not sell wholesale to anyone (except in a special way with bullion only coins), but provides coins to the banking system at face value and sells direct to collectors and dealers at a mark-up, the same mark-up to each. Private mints typically sell their non legal tender offerings to the public themselves rather than using any retailers, so the public and the dealers are both paying the same price, dealers just saving on shipping do to size of orders and hope you buy from them because they might have a wider selection then the single private mint. But, again, these are not coins coming from the private mints. The typical retail system of manufacturor sells to distributer/wholesaler sells to retailer selss to public just doesn't exist in the world of legal tender coins. |
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Rest in Peace
United States
1380 Posts |
Except maybe in Oz. Our friends down under are a little weird at times.
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New Member
United Kingdom
6 Posts |
I only asked as I brought a Christmas commerative coin over Christmas and it was on the Westminster site at £25.99 but I paid £17.99 on ebay. I spoke to the bloke aelling it and he told me he had someone who could get them cheaper than Westminster |
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Pillar of the Community
United Kingdom
2135 Posts |
Apart from the new coins that Westminster sell at face value, which I think is a loss-leader to get names and addresses of collectors new to them, I'd be surprised if you couldn't buy cheaper than Westminster.
Most of the coins originally bought from Westminster that I've bought at auction still have their Westminster sales invoice with them and all those coins have been well over-priced, sometimes shockingly so.
However, it might be that other coins that Westminster sell are fairly priced; if you had told us which coin you bought (Country, denomination, date, issue, condition etc) we could have formed an opinion.
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Pillar of the Community
United Kingdom
2893 Posts |
I have no idea what the market for commemorative coins actually is. I wouldn't buy them and I don't personally know anyone else that does either but presumably there is a market out there.
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Pillar of the Community
United Kingdom
1351 Posts |
Westminster "£25.99 ebay "£17.99 resale "£2.99 if you can find a mug.Most people won't touch it. |
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Replies: 20 / Views: 3,324 |
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Posted 01/21/2015 07:47 am
