Royal Mint with a hole?

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  • french frank
    Administrator/Moderator
    • Feb 2007
    • 30456
    #1

    Royal Mint with a hole?

    I have been picked out by the Royal Mint, specially, to be allocated an Olympics commemoration 50p piece (I was notified yesterday). If I apply for it by 12 March I can have it at the discounted half price. Namely £25 (RRP £49.99).

    There will be (it says here) a huge demand for this coin. Is £25 for a 50p coin a bargain? Has anyone else been similarly picked for such an offer? What's it all about?
    It isn't given us to know those rare moments when people are wide open and the lightest touch can wither or heal. A moment too late and we can never reach them any more in this world.
    Tags: None
  • Petrushka
    Full Member
    • Nov 2010
    • 12309
    #2
    It's amazing the number of people who get taken in by scams like this (and make no mistake, it is a scam) hoping that one day the commemorative coin will be worth a fortune.

    One for the bin, FF.
    "The sound is the handwriting of the conductor" - Bernard Haitink

    Comment

    • french frank
      Administrator/Moderator
      • Feb 2007
      • 30456
      #3
      Originally posted by Petrushka View Post
      It's amazing the number of people who get taken in by scams like this (and make no mistake, it is a scam) hoping that one day the commemorative coin will be worth a fortune.

      One for the bin, FF.
      It is made of 0.925 sterling silver. But if it's worth £50 why isn't it minted as a £50 coin instead of 50p? The price seems totally arbitrary (to me).

      Anyway, I'm offering my allocation for, let's see, £32.50 - still a bargain! . Just joking (in case it's illegal to profiteer in this way).
      It isn't given us to know those rare moments when people are wide open and the lightest touch can wither or heal. A moment too late and we can never reach them any more in this world.

      Comment

      • Flosshilde
        Full Member
        • Nov 2010
        • 7988
        #4
        Originally posted by french frank View Post
        Anyway, I'm offering my allocation for, let's see, £32.50 - still a bargain! . Just joking (in case it's illegal to profiteer in this way).
        Don't see why it should be illegal - you're just doing what commodity traders do*, aren't you?


        *My understanding is that they sell stuff they haven't got, & in some cases doesn't exist yet, & which they probably never will 'have'.

        Comment

        • salymap
          Late member
          • Nov 2010
          • 5969
          #5
          Newspapers used to be [don't buy one now], full of similar offers ff. Bin it.

          Comment

          • Osborn
            #6
            Anyway I bet it's the wrong weight, a condom machine won't accept it & a Pay and Display machine will ask you for another £250 to park for 1 hour

            Comment

            • LeMartinPecheur
              Full Member
              • Apr 2007
              • 4717
              #7
              The '(non)-investment' issue with commemorative coins has been around for a long time. I've inherited a number of George V commemorative crowns for the 25th anniversary of his accession (1935).

              They're now worth reasonably serious money. But the odd thing is that I'd be much, much richer if in place of the commemorative crowns my grandad had simply salted away the same number of perfectly ordinary 1935 crowns and kept them in mint condition!

              My dad also passed on a few commemorative crowns from early in HM the Q's reign, such as the Churchill crown. Still going nicely as investments at about...ummm... 'face value'...

              The problem with commemorative coins is only that too many people buy them! Not the Royal Mint's fault, it's ours.
              I keep hitting the Escape key, but I'm still here!

              Comment

              • Petrushka
                Full Member
                • Nov 2010
                • 12309
                #8
                Originally posted by LeMartinPecheur View Post
                The '(non)-investment' issue with commemorative coins has been around for a long time. I've inherited a number of George V commemorative crowns for the 25th anniversary of his accession (1935).

                They're now worth reasonably serious money. But the odd thing is that I'd be much, much richer if in place of the commemorative crowns my grandad had simply salted away the same number of perfectly ordinary 1935 crowns and kept them in mint condition!

                My dad also passed on a few commemorative crowns from early in HM the Q's reign, such as the Churchill crown. Still going nicely as investments at about...ummm... 'face value'...

                The problem with commemorative coins is only that too many people buy them! Not the Royal Mint's fault, it's ours.
                Yes, I have the Churchill crown and also the 1953 Coronation crown both in mint condition and bought by my parents but have no idea what they are worth, if anything. As you say, there must be thousands in circulation, a factor that tells against their being of much worth.

                The 'offer' seen by FF is little more than a scam, in my view, though a nice little earner for somebody.
                "The sound is the handwriting of the conductor" - Bernard Haitink

                Comment

                • Flosshilde
                  Full Member
                  • Nov 2010
                  • 7988
                  #9
                  I have, somewhere (I think my mother's got it), a crown issued for the Queen's coronation. I have a feeling that they were given to all schoolchildren - I very much doubt that my parents would have bought one for me & my two brothers.

                  I think we also had a glass tumbler commemorating the Festival of Britain.

                  Comment

                  • LeMartinPecheur
                    Full Member
                    • Apr 2007
                    • 4717
                    #10
                    Originally posted by Petrushka View Post
                    Yes, I have the Churchill crown and also the 1953 Coronation crown both in mint condition and bought by my parents but have no idea what they are worth, if anything. As you say, there must be thousands in circulation, a factor that tells against their being of much worth.

                    The 'offer' seen by FF is little more than a scam, in my view, though a nice little earner for somebody.
                    This link http://wiki.answers.com/Q/What_is_th..._Commemorative should help. The market price of 1953 coronation crowns is about the same (£2).

                    Perhaps 700% gain in value over some 50 or 60 years still sounds pretty good, but you'd still need a houseful of the damn things - plus a stadium-ful of gullible mug buyers - to afford that Barbados condominium you've always promised yourself!
                    I keep hitting the Escape key, but I'm still here!

                    Comment

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