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TeaTime

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  1. The Mint have produced plenty of coins in the past using the mint-to-order format. Advertise the coin, give a 1-4 week window for people to order and mint the exact number to satisfy the orders. That would cut out the same day flippers immediately but still leave scope for future speculating once the mint-run is finished. It seems so obvious that you have to wonder why this is not the way it's done.... Unless the RM are fully aware of the market that has been created and are actively encouraging it to boost short-term profits. Maybe the limited issue day of sale frenzy helps to ensure that mediocre stuff sells out. Maybe the RM consider themselves the 'Rolex' of the minting world (ha). Maybe they have helped create the hype and are riding the wave. Until the bubble bursts i will stick to the cupronickel releases to satisfy my collecting bug.
  2. I would have no problem with charging maybe 25% of the difference between true value and a dealers offer ! If these were appraised by a dealer they would more than likely be graded harshly and the book price from a 2005 yearbook used for values (maybe an exaggeration but not much of one)... It's a lot of work grading and comparing book prices with actual sales.
  3. That's not milk spotting - which shows as rather obvious white coloured circles or 'splashes'. If the 'hazing' disappears as you turn the coin then it is just light reflecting off an uneven field or the start of toning. Quite common on all silver with a polished element. If your intention is to keep the coin then i wouldn't consider it a problem - in my eyes it actually adds to the coins appeal.
  4. I have to admit to buying modern coins in the past with a FOMO attitude - only to see the prices plummet within a year. I soon learnt my lesson - as will other people who get caught up in a hype frenzy. I think the long-term result of flipping and the artificial scarcity market we now see will be less people bothering with coins in the future. There will be people who may have ended up as collectors (or stackers) who won't bother after getting burnt once or twice. And that could result in a loss for anyone who genuinely loves numismatics and enjoys owning little pieces of history and art. If genuine collectors cannot buy coins from the producers because of flippers they will eventually stop trying and then it's just speculators selling to speculators in an ever decreasing circle....
  5. TeaTime

    is this silver?

    I remember getting a handful of these in 1977 (my friends mother organised a street party and was handing them out to all the kids). Back then my pocket money was 10p a week so i felt quite rich for a short while. I spent them all in local shops with no problem, this was obviously before the RM decided to muddy the water with their arbitrary definition of what 'legal tender' means. 🙄
  6. I'm sure that is actually happening and it's quite astounding that punters are playing the game and actively encouraging the practice. All it would take is for people to stop buying secondary market coins at massively inflated prices and the flipping would stop. Unfortunately the lure of an easy 1-2 hundred pounds (and subsequent diminishing returns as a coin gets re-sold again and again) is too tempting. Logically anyone with any coin collecting experience (especially with RM coins) knows that the market is saturated and that even the low mintage coins ultimately end up finding a level well below the initial frenzy.. There are simply a lot more flippers than collectors.
  7. I've just opened the RM email and followed the link ( i have to work for a living and couldn't access the site until after 12). Everything is sold out. Will look forward to seeing them on Ebay in a couple of years at bullion prices 😁
  8. Selling a personal collection and dealing are two separate things.... This is what the tax man says; You may have to pay Capital Gains Tax if you make a profit (‘gain’) when you sell (or ‘dispose of’) a personal possession for £6,000 or more. Possessions you may need to pay tax on include: jewellery paintings antiques coins and stamps
  9. Historically royal portrait coins have bombed - often because they just aren't very good. Every mint in the world seems to have churned out similar stuff that can be found in bargain bins everywhere (if they haven't already been scrapped). These would need to be exceptional to have any chance of mass appeal. It smacks of running out of ideas and falling back on the old chestnuts.
  10. It shouldn't be a question of luck when a coin goes in for grading but it sometimes can be... Any production flaw should not affect the grade, any post-production flaw can affect the grade. That's from the NGC website.... The problem with that is who determines which type of flaw it is. And if you disagree with the grader you have to pay again for a re-grade. The flaw on the rim looks like a definite production issue so shouldn't adversely affect the grade.
  11. I don't think it's all hype - a beautiful design or a design that holds historical significance will always be just that. And it will always be popular. These Great Engravers coins though are, at the end of the day, copies made for those who cannot get an original coin - either for lack of funds or because of the scarcity of them. I have no problem with anyone buying with a view to making a profit - be it next week or next decade. As has been said we all love a pound note and i have taken advantage of the the zeitgeist myself in the past. I like to think though that it has not been at anyone else's expense - just market forces (and maybe gullible purchasers). When a coin release has a small mintage which is snapped up by speculators who manage to buy multiple coins (contrary to the supposed purchase limits) at the expense of collectors then it just feels wrong. I have seen many secondary market listings for the gothic arms coin which state that multiple coins are available - this, to me, is the hype i am referring to. An artificial scarcity. Just my rambling thoughts 😁
  12. The flipping of these coins has produced an unnatural and inflated market. The days of studying the coin and making a reasoned decision to purchase at your leisure have gone. Now, if you don't buy immediately from the source then you have no choice but to purchase on the secondary market or go without. Historically popular coins were a slow-burn that increased in value over time. Part of the process was the diminishing numbers of available coins, something that is rarely going to happen with modern proofs. The expectation that a brand new coin should immediately be worth 2 or 3 times it's purchase price is unrealistic - driven by speculators and, to some extent, grading companies. Pretty much everyone who collects / buys RM coins does so in the expectation of future profits. The reality is that the majority of coins end up worth a lot less than the original sale price. Who can blame flippers for cashing in on the hype - striking whilst the iron is hot is not a bad thing in itself. But it does leave a sour taste in my mouth. The real question is - why do people fall for the hype over and over again ?
  13. What is the appeal to purchasers of Royal Mint silver proof coins when base metal versions are available ? Is it a throwback to when when coins contained silver - is it not a 'real' coin unless it has precious metal content ? The premium on silver proof coins far exceeds the premium on base metal proof coins. Surely the difference should be the cost of the raw material only - the production costs will be the same. The 13 coin 2022 proof set retails for £210 versus £647 for the silver set. So there is a premium of £440 for the £65 silver content. I think i've just talked myself out of ever buying a silver proof set again 🤨
  14. Am looking forward to receiving my 1oz silver proof in the Chards mystery box 2030..... 😁
  15. TBH i'm not seeing a Prince Andrew coin in the near future 😶
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