2022 Sovereign design revealed?

[SiCole]

We might as well all admit this has been an absolute disaster. As such i will graciously offer to buy your 4 and 5 coin sets at half price to get you all out of this mess  

[AurumArgenti]

Oops 4 sold out again.😄

[Kussilver]

What’s peoples thoughts on the 5 sov BU. I have always wanted a 5 sov piece, but can’t really afford the proof 5 set. Not looking at flipping, but holding as a piece of history for the kids. It is definitely a beautiful design, better than the 2022 jubilees IMO. Works out at 580 per sov equivalent, is this really worth it for BU ? 

[Taikonaut]

The 4 coin set is the only way of getting the double sovereign without having to pay an additional £3,200 for the 5 coin set.

[DeepSpace]

37 minutes ago, GoldDiggerDave said:

My other 10 pennies worth……..in 1989 the Royal Mint could not shift the 1989 proof sovereigns, strangely enough the UK was in a similar economic position🤔 

How many wished they backed the truck up back then ? 

Well said GoldDiggerDave although in fairness 1989 was a few decades before I got my drivers license. 😉 See you boys & girls back here for port and cigars in 2055! 

[Taikonaut]

2 minutes ago, Kussilver said:

What’s peoples thoughts on the 5 sov BU. I have always wanted a 5 sov piece, but can’t really afford the proof 5 set. Not looking at flipping, but holding as a piece of history for the kids. It is definitely a beautiful design, better than the 2022 jubilees IMO. Works out at 580 per sov equivalent, is this really worth it for BU ? 

Don't know if this turns out to be Matt proof or simply a BU

[Kussilver]

3 minutes ago, Taikonaut said:

It doesn’t say Matt in the description just BU, may just go with the 4 coin set why it is still available 

[Taikonaut]

41 minutes ago, GoldDiggerDave said:

My other 10 pennies worth……..in 1989 the Royal Mint could not shift the 1989 proof sovereigns, strangely enough the UK was in a similar economic position🤔 

How many wished they backed the truck up back then ? 

I actualy liked the 1989 design when it was first announced and did not give it a secnd thought when one was avaialbel at our local dealer in 1999 for £90. When short of cash I tried to sell it a few years later and realise nobody was interested except for spot price. the saving garce for this memorail soverien is it has  a pretty design much like how it was for the 1989 design and I think on the long run more people will want this over the Platinum Jubilee one.

TBH the memorial looks like the Platinum Jubilee coin on steriod. Pity about the higher mintage made it more common so it will take more time for it to become valuable.

[Timberwolf]

52 minutes ago, GoldDiggerDave said:

My other 10 pennies worth……..in 1989 the Royal Mint could not shift the 1989 proof sovereigns, strangely enough the UK was in a similar economic position🤔 

How many wished they backed the truck up back then ? 

There's a big difference in paying huge premiums over spot for proofs that may not do well long term, versus backing up the truck for bullion coins at low premiums over spot IMO.

Proof coins are very risky. I'd only consider these sets if you really love the design, rather than out of a desire to flip for profits in a few years.

[Taikonaut]

If Charles abdicate on 2nd January 2023 and some of these coins were already sent out to customers🤩

[ArgentSmith]

I wonder will there be a once in a lifetime historic coronation sovereign next year with limited montage of 30k?

[CaptCaveMan]

5 minutes ago, Timberwolf said:

Proof coins are very risky. I'd only consider these sets if you really love the design, rather than out of a desire to flip for profits in a few years.

I like the design and wanted the first KC III in my collection, as long as I don't have to sell anything these are being gifted to my kids.  In that respect and meaning no disrespect, in a few years we maybe buying a new Kings first proof again.

[GoldDiggerDave]

6 minutes ago, Timberwolf said:

There's a big difference in paying huge premiums over spot for proofs that may not do well long term, versus backing up the truck for bullion coins at low premiums over spot IMO.

Proof coins are very risky. I'd only consider these sets if you really love the design, rather than out of a desire to flip for profits in a few years.

Absolutely, I recommend to everyone I speak to, to do their own homework and understand what they are getting into (we all remember Barry last year buying 42k of gold gothics expecting to make more on top of the well over RRP that he’d paid for them). Barry was a cautionary tail and a perfect example of inexperienced buyer, I bet he’s still explaining that one to his Mrs if she’s not already divorced him.

All anyone can do is enjoy the hobby, and if you are making money at the same time, it’s like getting paid money to play golf or go to the gym that’s the way I look at it. 

 

[sovereignsteve]

Personally, I hope lots of people cancel their orders or return them later, so they have to melt down loads and crush the boxes. Hopefully leaving a total mintage of just the ones I have!😎

It might teach them a lesson, greedy sods.

[Taikonaut]

Is the RM going to melt down unsold coins? I never heard of that

[AurumArgenti]

Can anyone do a unsold update please.🤔

[Griffo]

2 hours ago, dikefalos said:

If you look at the salaries they offer, you might think the Royal Mint believes that too.

A mate is a manager there and for years they have been pushing a rolling redundancy program and only replacing people with Temps and not permanent staff.

I  know another guy who went to work there and had been a temp for three years last time I saw him, he couldn't apply for a mortgage as he wasn't permanent,  I would guess if you had been there for years and not treated very well, your attention to detail and quality procedures would not be top of your list day to day, more likely turn up, get paid, go home.

[sovereignsteve]

6 minutes ago, Taikonaut said:

Is the RM going to melt down unsold coins? I never heard of that

No reason why not if they have large unsold inventory. The chances are it wouldn't come to that as they will only strike a proportion initially then see how sales go before proceeding with the rest.

Once orders sart being cancelled and maybe coins returned, their sales/stock will reach equilibrium and they won't strike any more. They will have their monitoring methods.

At some point in the future they will have draw a line, close the issue and hopefully declare a mintage.

[Paul]

1 hour ago, GoldDiggerDave said:

My other 10 pennies worth……..in 1989 the Royal Mint could not shift the 1989 proof sovereigns, strangely enough the UK was in a similar economic position🤔 

How many wished they backed the truck up back then ? 

Beep beep ! Me but I was only 12

[paulmerton]

11 minutes ago, Taikonaut said:

Is the RM going to melt down unsold coins? I never heard of that

They'll just scuff them up a bit and they'll become the bullion ones that'll go on sale next year.

[Taikonaut]

7 minutes ago, sovereignsteve said:

No reason why not if they have large unsold inventory. The chances are it wouldn't come to that as they will only strike a proportion initially then see how sales go before proceeding with the rest.

Once orders sart being cancelled and maybe coins returned, their sales/stock will reach equilibrium and they won't strike any more. They will have their monitoring methods.

At some point in the future they will have draw a line, close the issue and hopefully declare a mintage.

So that is why they announce "maximum mintage" but actual mintage may be lower if unsold stocks ended up being melted or not struck at all if demand were low?

[Taikonaut]

8 minutes ago, paulmerton said:

They'll just scuff them up a bit and they'll become the bullion ones that'll go on sale next year.

They don't have to because QC is so bad😆

[GoldDiggerDave]

8 minutes ago, paulmerton said:

They'll just scuff them up a bit and they'll become the bullion ones that'll go on sale next year.

With energy prices so high it might cost more to turn the furnace on. 

[MickB]

3 hours ago, BackyardBullion said:

Here is a 24 hour update on what is "available" currently and therefore a calculation on what has been sold. 

 

 

BBP quote the half sovereign maximum mintage at 6480. Does this mean that Royal Mint sell 3000 & other dealers sell the remainder? Ah, me being blind and stupid, just realised they're in the sets as well!

https://www.bullionbypost.co.uk/proof-sets/proof-half-sovereigns/queen-elizabeth-ii-memorial-half-sovereign-2022-gold-proof-coin/

Edited November 16, 2022 by MickB

[paulmerton]

2 minutes ago, MickB said:

BBP quote the half sovereign maximum mintage at 6480. Does this mean that Royal Mint sell 3000 & other dealers sell the remainder?

https://www.bullionbypost.co.uk/proof-sets/proof-half-sovereigns/queen-elizabeth-ii-memorial-half-sovereign-2022-gold-proof-coin/

The maximum mintage (6480) relates to the number of those coins being made.

Limited edition presentation (3000) relates to the number of coins in that exact presentation, i.e. a half sovereign on its own in a fancy box.

The mintage figure for the half sovereign also includes the number of coins presented in the 3-coin, 4-coin and 5-coin sets, plus a few extras for the Trial of the Pyx.