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Be Careful With Great Britain Proof Silver For 2016

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ilikeikes's Avatar
United States
1205 Posts
 Posted 03/20/2016  6:36 pm Show Profile   Bookmark this topic Add ilikeikes to your friends list Get a Link to this Message Number of Subscribers
After a great year selling the 2014 Silver Proof Britannia's, 2015 turned out to be a loser. I ordered 3k of 6-coin proof sets and 1 Oz boxed coins. The quality had gone way down, with 5% fully frosted, and early signs of brown toning. I was going to return the lot, but, The Royal Mint stated returns are at their discretion, and, unless a naked-eye blemish, would not qualify. Most of my problems were what looked like dies pushed too hard, thus, the lack of full cameo deep frosting...unusual for this usually perfect company. Ikept the coins, and took the loss, and, will not tempt fate with a 2016 order. Keeping my cash for proof Libertads and pandas this year.
Another seller I talked to had the same 2015 proof issues..toning had picked up in the few months we both owned the coins, and, were junk silver basically. He didn't even bear to look at his 5 Oz coins..he knew it was going to be bad news. Buyer beware..returns CAN be made, but, unlike our USA mint, no questions asked, the RM may not qualify your order as a return, and, your stuck with double shipping costs to get them back.
Rest in Peace
moxking's Avatar
United States
17900 Posts
 Posted 03/20/2016  7:12 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
Sounds like snapping up a couple fully frosted '15s might not be a bad idea, then!
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ilikeikes's Avatar
United States
1205 Posts
 Posted 03/20/2016  7:44 pm  Show Profile   Bookmark this reply Add ilikeikes to your friends list Get a Link to this Reply
Good point..if you want a 1 Oz in box, with COA, message me..I have 1 or 2 left.
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GR58's Avatar
United States
11951 Posts
 Posted 03/20/2016  10:31 pm  Show Profile   Bookmark this reply Add GR58 to your friends list Get a Link to this Reply
Thanks for posting ... I like having all the information
I can get.

I have had concerns with Britannia's quality in the past.
Pillar of the Community
United States
1913 Posts
 Posted 03/28/2016  9:32 pm  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply

Quote:
I ordered 3k of 6-coin proof sets and 1 Oz boxed coins.

3,000! I'd say that you went all in. They only made 1,750 of the six coin proof sets. How many of those did you receive? How many of the 1oz proofs did you receive? The 2015 1oz silver "Brilliant Uncirculated" and 2015 1oz silver "Proof" that I received both looked great. I'm planning on ordering the 2016's, but now I'm worried. Can you post some pictures of some of the problem coins you received?
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ilikeikes's Avatar
United States
1205 Posts
 Posted 03/29/2016  01:14 am  Show Profile   Bookmark this reply Add ilikeikes to your friends list Get a Link to this Reply
I'd love to post pics bret, but, it's time consuming...in a nutshell, new coins are not supposed to tone, especially RM coins..it was/is mostly light brown forming around the peripheries...which, in time, will darken, and grow further down into the mirrors...a few had small random white spots...85% had crappy cameo frosting, which really steamed me..once you've held a perfect one..there's NO going back, and, as stated, they just didn't rework the dies as often as they should have.
I bought a LOT of the 6-coin proof sets, which cost 260 each...and, about 20 or so individual boxed 1 oz..
IF you buy direct this year, examine the coins carefully..odds are you'll be fine, really. Hopefully all my emails and calls will put a fire under their quality control dudes for 2016's. Remember, with low mintages, say 5,000, or 10,000 struck, with modern presses, this is done in maybe a week or 2 at best..then done..no going back, so, what's done, is done.
I was not impressed with the return policy. ANY company, and/or Mint, should have a 100% no-quibble return policy...will they "hurt" without MY business? Of course not. But, those people DO take pride in their work, and, say they go the extra mile to create high quality strikes...most likely, I just had bad timing..or bad luck...I got the coins in between repolishing work..the luck of the draw.
I had assumed all coins would be perfect...a tough lesson on expectations, and, I really should have pushed them to send the whole order back, at their cost, I wasn't aggressive enough on that..so, I'll take part of the blame for the loss. no mint is perfect. I think if you talk to long time RM proof buyers(I'm not 1 of them), my guess is yes, the coins do tend to tone more than some other countries offerings. Over time, sometimes the toning actually creates a beautiful patina...that takes years though...even perfect PCGS or NGC 70 DCAM coins have a good chance of toning down the line..
It may be a good idea to look on the web site, to find their official return policy, or, email them for this...return shipping there is expensive, and, I believe is not their responsibilty. Feel free to let us know what you learn. I didn't write this to scare off anybody...just wanted people to know to really look closely at the coins you buy, that's all..a good idea for ANY purchase!
Pillar of the Community
United States
1913 Posts
 Posted 03/29/2016  08:55 am  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply
For the price you have to pay for these RM coins, they should absolutely be perfect. I am going to place an order when the "Proof" silver Britannia becomes available. I'll be crossing my fingers.
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