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xPhilip

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    xPhilip reacted to BackyardBullion in Investigation into Historic Coin Pricing by The Royal Mint   
    Quick update on my little investigation.
    Had no tangible feedback from The Royal Mint yet on their pricing of this product in particular: 
    https://www.royalmint.com/shop/monarch/queen-victoria/victoria-young-head-crown/
    £270

    I sent the images of this coin off to Sovereign Rarities (Who are recommended on RM's website for historic coin valuations, also RM owns 23.4% stake in Sovereign Rarities).
    Anyway, I got a very prompt reply from Sovereign Rarities who put a value of £25 on this coin.
    SHOCKING
    So, I decided to place an order on RM website for this listing to see what I got. 
    Unfortunatley I did not get this dog of a coin. Instead I got a middle of the road version with at least the crown side visible. 
    This is the coin I received


    Not terrible, but not great either. 
    I think we can all agree this is not a £270 version of this coin.
    I understand that there is a premium for the display and the fact you are buying from an authenticated source and that is worth something. But when you see comprable coins in similar condition selling for £50 and £64 respectively you have to ask where is the value of the additional £200+ coming from.

    Needless to say I have initiated a free return to The Royal Mint for my £270 coin with a note to say that the value of the coin is far less than expected considering its condition. 
    Its a shame I didn't get the complete dog of a coin though, that would have been fun.
    What I would say is that at very least the RM has no clue what it is doing. Why would you have a picture of a coin like that as the listing image if you have better versions of the coins in stock?
    There is only one answer. 
    Show the worst image you have then nobody can moan when it arrives, you bought what you see. 
     
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