2022 Platinum Jubilee SOTD Sovereign

[JeffM]

5 minutes ago, blackadder said:

Yeah **** the royal mint and it's lame queue.

It is SO much better than the U.S. Mint!  When a hot coin is released, hundreds of thousands converge on the Mint's web site, clog it up, and the site cannot handle all the traffic.  Then there are the flippers' bots that buy up everything they can in minutes.  The U.S. Mint has basically gone from a source for collectors to a source for dealers and flippers with the means to access the web site and buy up all the hot issues to sell for a large profit.

[James32]

10 minutes ago, blackadder said:

Yeah **** the royal mint and it's lame queue.

🤣🤣

[blackadder]

11 minutes ago, JeffM said:

It is SO much better than the U.S. Mint!  When a hot coin is released, hundreds of thousands converge on the Mint's web site, clog it up, and the site cannot handle all the traffic.  Then there are the flippers' bots that buy up everything they can in minutes.  The U.S. Mint has basically gone from a source for collectors to a source for dealers and flippers with the means to access the web site and buy up all the hot issues to sell for a large profit.

getting like the last part here lol

[gazer]

On 08/01/2022 at 00:50, westminstrel said:

@Shepand @SilverJacks - since you asked about where this could still be preordered at a good price.

https://ukgoldcoins.co.uk/product/the-platinum-jubilee-of-her-majesty-the-queen-2022-celebration-sovereign/

They have 4 in stock and priced at £699 which is not too far from RM’s £675.

Just checked its now £799 sorry says last one.

[Samcrewsilverlover]

35 minutes ago, gazer said:

Just checked its now £799 sorry says last one.

Prices go up and up and up...lots of dealers making a nice profit.....

[Timberwolf]

10 hours ago, Samcrewsilverlover said:

Prices go up and up and up...lots of dealers making a nice profit.....

Just shows how many people are eager to collect these once in a lifetime coins  Of course there'll be flippers too, though much of the 2022 sovereigns/Jubilee coins will be going into hiding for many a decade I believe.

[Zhorro]

11 hours ago, gazer said:

Just checked its now £799 sorry says last one.

In the four years I have been on the Forum, I have never seen such high premiums before a coin has been released (admittedly most dealers did not even offer the Gothic coin before its release).

[GoldStatue]

54 minutes ago, Zhorro said:

In the four years I have been on the Forum, I have never seen such high premiums before a coin has been released (admittedly most dealers did not even offer the Gothic coin before its release).

I can see it being a bit frustrating for a dealer selling the coins at RRP and then seeing them shoot up in value on the secondary market as soon as they are released.

Is there anything stopping someone from pre-ordering with a dealer at the higher price and if getting lucky with the Royal Mint release returning the original coin back to the dealer?

 

[Stu]

8 minutes ago, GoldStatue said:

I can see it being a bit frustrating for a dealer selling the coins at RRP and then seeing them shoot up in value on the secondary market as soon as they are released.

Is there anything stopping someone from pre-ordering with a dealer at the higher price and if getting lucky with the Royal Mint release returning the original coin back to the dealer?

 

Some of the smaller dealers don’t accept returns. You may be able negotiate a cancellation if coin is not dispatched from dealer and you have confirmed RM order. Dealer may be happy to resell again for even more. 

[paulmerton]

11 minutes ago, GoldStatue said:

I can see it being a bit frustrating for a dealer selling the coins at RRP and then seeing them shoot up in value on the secondary market as soon as they are released.

Is there anything stopping someone from pre-ordering with a dealer at the higher price and if getting lucky with the Royal Mint release returning the original coin back to the dealer?

 

If you already thought it was worth buying at the higher price, why wouldn't you want to keep both?

[Zhorro]

7 minutes ago, paulmerton said:

If you already thought it was worth buying at the higher price, why wouldn't you want to keep both?

It is a lot of money to have tied up in an extra coin that you do not really want!

[JJH]

I actually see that price for 799 all the time but he stated that it is not returnable, if there is a defect...  so I never buy him, I believe they actually have more in stock, once they sell out for 799 they will show 4 coins for 839😢

Although I would like to get one but I would rather use the exchange or buy it with RM even if it seems very difficult

[JeffM]

UK Gold Coins is now out of stock (at least for now).

[Samcrewsilverlover]

11 minutes ago, JeffM said:

UK Gold Coins is now out of stock (at least for now).

I'm guessing there is going to be about 10 on release day 6th Feb.. as all the "Dealers" seemed to have been designated a large percentage of these SOTD sovreigns already?????

[JeffM]

18 minutes ago, Samcrewsilverlover said:

I'm guessing there is going to be about 10 on release day 6th Feb.. as all the "Dealers" seemed to have been designated a large percentage of these SOTD sovreigns already?????

I agree.  Because of the dealer allocations (and who knows how many), there will be a lot less than 1,200 available on release day.  There will be tens of thousand waiting in the queue, for the mere pittance available.  Lots of disappointed people of February 6.

[Zhorro]

18 minutes ago, JeffM said:

I agree.  Because of the dealer allocations (and who knows how many), there will be a lot less than 1,200 available on release day.  There will be tens of thousand waiting in the queue, for the mere pittance available.  Lots of disappointed people of February 6.

I think there will be a good number available from the RM on the day - but we all know what the RM queuing system is like!  These high pre-release prices will probably encourage the flippers to be out in force - and even people who have bought one already on pre-release, may try for another one.  So, I agree, I think there will be a lot of disappointed people on February 6.

[Timberwolf]

25 minutes ago, JeffM said:

I agree.  Because of the dealer allocations (and who knows how many), there will be a lot less than 1,200 available on release day.  There will be tens of thousand waiting in the queue, for the mere pittance available.  Lots of disappointed people of February 6.

Yeap. I'm very happy paying £125 over MSRP for my SOTD. I'd like to get more than one, so will still be in the queue on release day. Eliminating disappointment is a good thing, especially when flippers will be selling these on ebay at far more than a £125 premium.

[JeffM]

34 minutes ago, Timberwolf said:

Yeap. I'm very happy paying £125 over MSRP for my SOTD. I'd like to get more than one, so will still be in the queue on release day. Eliminating disappointment is a good thing, especially when flippers will be selling these on ebay at far more than a £125 premium.

I did the same.  I am happy with the one and won't wait in the queue on February 6.  Plus, my local time is 6 hours before London time, and the last thing I want to do is get up at 3:00 a.m. on a Sunday.  I have a feeling that coins available at the dealers close to or on/after February 6 will be going for quite hefty premiums.

[MJCOIN]

9 hours ago, Timberwolf said:

Yeap. I'm very happy paying £125 over MSRP for my SOTD. I'd like to get more than one, so will still be in the queue on release day. Eliminating disappointment is a good thing, especially when flippers will be selling these on ebay at far more than a £125 premium.

Makes perfect sense. If you collect SOTDs this is a very important release and values are bound to increase kn the secondary market.

[Stu]

Ukgoldcoins have 1 in stock again at 799. 

[JeffM]

46 minutes ago, Stu said:

Ukgoldcoins have 1 in stock again at 799. 

It’s amazing how these keep popping up after being sold out.

[Samcrewsilverlover]

31 minutes ago, JeffM said:

It’s amazing how these keep popping up after being sold out.

They don't get sold out..dealers put these coins on for £799.00 hoping to take advantage of us paying for the FOMO..but gradually they come down a tad..its all about supply n profit..( Unfortunately) for us mere mortals....😲😳😲😳😲😳😢😢😢

[Stu]

37 minutes ago, JeffM said:

It’s amazing how these keep popping up after being sold out.

Perhaps people ordering by bank transfer and not following through? I have ordered2, my concern is if you get the dregs compounded with the no returns policy. Now if the mint would return to sealing them properly there would be no dubiety buying from the independents(provided u get an unopened, sealed product) 

I fear they want their cake and eat it also. 

Edited January 22, 2022 by Stu

[Samcrewsilverlover]

6 minutes ago, Stu said:

Perhaps people ordering by bank transfer and not following through? I have ordered2, my concern is if you get the dregs compounded with the no returns policy. Now if the mint would return to sealing them properly there would be no dubiety buying from the independents(provided u get an unopened, sealed product) 

I fear they want their cake and eat it also. 

You reckon?????

[Stu]

1 minute ago, Samcrewsilverlover said:

You reckon?????

Aye, that’s why I wrote it, you have other thoughts?