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 Replies: 25 / Views: 16,095 |
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Pillar of the Community
United Kingdom
1687 Posts |
I am on their email list since I have obtained some of the £5 coins for £5 with free postage. Normally, only give the emails a quick glance but today's is rather interesting. http://www.westminstercollection.co...term=ukfirst**IMPORTANT RELEASE INFORMATION** On Monday 2nd April, The Royal Mint will be releasing a BRAND NEW United Kingdom Coin. It's a must-have issue - a new size, a new denomination and an outstanding new design. The good news is The Westminster Collection have managed to secure a small number - giving you the chance to own this new coin before it inevitably sells out. If you want to be in with a chance to secure this BRAND NEW United Kingdom Coin I recommend that you visit this page again at 09:00 on Monday 2nd April. Any ideas or guesses as to what this is going to be? Ken Edited by kena
03/26/2012 08:07 am
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Pillar of the Community
Germany
1064 Posts |
Something with 60 in it for the queen's thing perhaps? It could just be a gimmick for the kilo gold coin, even though it seems to be "out" already, although only 60 monstrosities will be made. Perhaps it is this, a coin competition for under 12s to design a viking coin, haha! http://www.nwemail.co.uk/memories/l...rerPath=home |
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Valued Member
United Kingdom
128 Posts |
Just to clarify for perhaps the unwary, unless a coin is made by The Royal Mint it's not legal tender. In the past that company has been slated over here for misrepresentation (although it seems to stay just within the law). The portcullis on their headings implies (at least to some people) that it's something to do with the government, whereas of course it's not; they amongst others just produce coins and medals celebrating a range of events and sell them on to the unwary public who think they are buying something that will increase in value over the years; extremely unlikely. With regard to the wording on some... 'Five Pounds', etc. they may as well put 'Five hundred pounds' as it's just wording on a coin and not legal tender. We get several flyers a year, normally in our TV listings magazines from these companies, and I suppose there are enough buyers to make that expensive advertising pay. If you like shiny things and have spare cash then good luck to you, but don't expect much return as an investment. Mike. |
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Valued Member
United Kingdom
164 Posts |
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Bedrock of the Community
Australia
21788 Posts |
Mike: That is my attitude to MOST (but not all) NCLT's. They are produced and marketed to produce as much profit for the mints (official or not) as they can.
That is what you can expect. They are all commercial operations. You can't blame them for trying to make a profit. That does not leave much room for the coin collector in the numismatic after market.
I must confess to having a few NCLT's myself, including a proof gold 1937 Five Pounds and Two Pounds. They have NOT been much as investments above their bullion value, despite their premiun in the numismatic after market. I just like them! Any World gold coin 1933 to about 1980 is scarce, gold coins of Geroge V1 especially so. I also have a gold 1952 George V1 One Pound of South Africa.
Not really into modern NCLT for the above reasons, despite the sometimes obvious high artistic and technical merit, and presentation.
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Valued Member
United Kingdom
128 Posts |
Hi Sel; I can understand your point of view and have no objection to a company making and selling their products at a profit; indeed I ran my own small company for 30 years before retiring a few years ago.
And I also admit that some of these commemorative coins can be very attractive.
What I do object to are those companies that try to mislead the public into thinking they are official bodies, such as the one above who choose a name (deliberately chosen to mislead in my opinion) and a logo of a portcullis (for the same reason). As many will know the Houses of Parliament uses that logo of the portcullis on their documents and letters, and indeed the British Trading Standards organisation (who look after the rights of the consumers over here) investigated this complaint; but unfortunately could do nothing about any company using this logo as it was not a registered trademark. Fortunately one of the consumer programs had an article on it warning the public.
Another misleading thing is putting a face value printed on the coin; such as 'FIVE POUNDS'; implying that the coin has a legal tender value; I wonder what proportion of purchasers of such coins assume that the value printed on the coin is actually what it is worth; a large proportion of the unwary I would think. I'm not sure if trading standards are investigating this.
The rules over here are that businesses must advertise their products in a fair way and not mislead; when found guilty of this the Advertising Standards Committee will get them to immediately stop using these ads. I'm sure they will also be keeping an eye on these type of companies.They should really be made to make aware in their adverts that they are not an official body, but that would probably end up in very small print.
Mike.
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Pillar of the Community
United States
2605 Posts |
It says right there in the article, "the Royal Mint will be releasing a BRAND NEW United Kingdom Coin".
For the "new denomination" I can see "T...NDS" on the obverse, so I believe it's going to be 3 pounds. Guessing the design? - wild goose chase!
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Valued Member
United Kingdom
128 Posts |
Yes The Royal Mint are issuing new coins and that company normally charge around 2 x face value for them. What slightly gives it away in some of their ads is a £5 coin delivered post free. Where's the profit in that? Pretty sure The Royal Mint doesn't give them a discount on legal tender, LOL. ;) |
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Rest in Peace
United States
9104 Posts |
Phone and cable companies and banks will spend into the hundreds of dollars to get a new customer, selling coins at face value to get new customers? Sure!
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Valued Member
United Kingdom
128 Posts |
They used to do that here, called 'loss leaders' but you don't get so much of it nowadays. Problem is with the company mentioned above they seem to sell some Royal Mint coins as well as their own product so it confuses buyers as to what they're buying. People may imagine all the stuff they buy is Royal Mint legal tender. Anyway I hope I've warned people of what may be happening over this side of the pond; hate to see people 'taken for a ride'. ;) Mike. |
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Bedrock of the Community
Australia
21788 Posts |
"T....NDS"? Could that be a modern re issue of the Triple Unite?
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Pillar of the Community
 United Kingdom
1687 Posts |
As I first stated, it was hype but it is rather interesting I can't find information about the coin from anywhere else. By the way, I also think The Royal Mint themselves is guility of overcharging for items as well and tend to use similar wording in their ads. I tend only to purchase the £5 coins for £5 direct from The Royal Mint when they are available (and this year with free shipping). Sometimes the folks was Westminster Collection are the only option for the £5 at £5. As someone else said, why do this, to get more folks on their mailing lists. For example, I purchased x3 Britannia bullion coins this year from a retailer rather than The Royal Mint. So The Royal Mint did not make as much as a profit as they would if I purchased it directly but I am still sure there was profit made for both The Royal Mint and retailer via the way I purchased. If not, why would The Royal Mint distibute them that way? If The Royal Mint was the only option, then I would not been able to purchase the additional two coins. Yes, buyer beware, yes that should be standard whether it is from a Mint or other retailer of coins. Ken |
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Valued Member
Ireland
131 Posts |
"T...NDS" .... could also be "THOUSANDS", the first coin to be multidenominational perhaps  Then again ... it could just be an April Fools joke which tbh looks more likely to me  Edited by Spikey Norman
03/28/2012 1:36 pm
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Pillar of the Community
United Kingdom
1324 Posts |
Westminster collection are always running ads selling £5 coins in the mainstream British press - they are usually presented like a UK issue with "legal tender United Kingdom coin" in big letters across the top. It's only in the very small print that you find out that they are legal tender only in somwhere like Alderney - even the picture of the coin is produced so that the country name is obscured!
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Moderator
 Australia
16869 Posts |
Quote:
In the past that company has been slated over here for misrepresentation (although it seems to stay just within the law). The portcullis on their headings implies (at least to some people) that it's something to do with the government, whereas of course it's not...
...they are usually presented like a UK issue with "legal tender United Kingdom coin" in big letters across the top. It's only in the very small print that you find out that they are legal tender only in somwhere like Alderney - even the picture of the coin is produced so that the country name is obscured!Yep, it's the "direct marketing" of coins. It's not a new concept, having been pioneered by outfits like the Franklin Mint and Continental Coin Co. in America in the 1970s, and it's not just a British phenomenon - you've got Macquarie Mint here in Australia, and the Asset Marketing Services empire in America, which includes brands like GovMint.com and the "New York Mint". The modus operandi is alwways the same: saturation advertising in places where actual coin collectors aren't likely to think to look for coins - designed to suck in novices to the hobby - combined with a name that's designed to give the air of government-backed legitimacy to their business. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Moderator
Australia
16869 Posts |
As for the denomination of the mystery coin, I'd guess "TEN POUNDS". I don't think there's enough room to write "THREE".
But £10 wouldn't be a "new denomination". The 1/10th ounce gold Britannia is £10, for example.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Replies: 25 / Views: 16,095 |
Posted 03/26/2012 11:25 am
