The Royal Mint Uk, Proof Gold Prices Seem Real High

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Author	Replies: 6 / Views: 1,774
Ken01 New Member United States 2 Posts	Posted 11/07/2011 03:16 am I've been very casually collecting gold proof coins from the us mint. I saw that there was a new gold coin in UK. It is priced at 495 pounds for about 1/4 ounce. That is ALOT! US commemorative gold coins are 522 USD. Even when I saw another British dealer selling gold 2012 sovereigns at 450 or so, that's still a really high premium. Anyone can explain what the deal is with this pricing? Seems like a complete rip off. Gold is gold. Pricing a little premium is ok, buy 50% over the us mint premium?!?! Any explanation would be appreciated. I don't know much admittedly. I just buy what's pretty from the us mint. Report this Post to the Staff

sel_69l Bedrock of the Community Australia 21786 Posts	Posted 11/07/2011 03:48 am Simply, the Mint is out to make a profit, and the premium is as high as they think the market will bear. Report this Post to the Staff
trout1105 Pillar of the Community Australia 7096 Posts	Posted 11/07/2011 04:37 am $484 AU for Gold soverigns from the Perth Mint and they will be making a profit on these. Your Royal Mint is realy stiffing people at nearly 500 quid for the same item Report this Post to the Staff
trout1105 Pillar of the Community Australia 7096 Posts	Posted 11/07/2011 04:38 am Sorry forgot to add the link http://www.perthmint.com.au/metalPrices.aspx Report this Post to the Staff
trout1105 Pillar of the Community Australia 7096 Posts	Posted 11/07/2011 04:46 am I just looked up the conversion rates and The Royal Mint want an extra 181 quid for the same coin. It pays to shop arround and us Aussies have plenty of gold to sell Report this Post to the Staff
James Royal Mint UK Royal Mint Representative United Kingdom 40 Posts	Posted 11/11/2011 10:59 am Hello, I work for The Royal Mint so I can respond! You are talking about our Gold Proof Sovereigns - http://www.royalmint.com/store/Brit...ld/SV12.aspx We DO charge a premium for our Gold Proof Sovereigns. Our proof coins are limited, specially struck editions and take far more time to produce than bullion coins. We think the extra cost is worth it and when you see the finished item in your hand I think you would be inclined to agree! I won't go on...there's more on proof coins here: http://en.wikipedia.org/wiki/Proof_coinage We will be offering bullion gold Sovereigns on our website very soon which will be much more competitively priced from a pure metal value perspective. Edited by James Royal Mint 11/11/2011 11:01 am Report this Post to the Staff
Ken01 New Member United States 2 Posts	Posted 11/12/2011 12:54 am Thanks for all the comments. I think I got my answer. Report this Post to the Staff
	Replies: 6 / Views: 1,774

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