Royal mint

[Robda1986]

Anyone else noticed the mint taking the royal piss with their premiums lately 3 sov set all Bullion 1800 that's 500 per sov and a box at 300 

https://www.royalmint.com/our-coins/ranges/historic-coins/historic-sets/Her-Majesty-The-Queens-Jubilee-Sovereign-Set/

[Pete]

Nothing new here - marketing gurus - set a high price to make people believe the item is special and extra valuable and people will flock to buy.
Offer it too cheap and people will not think it's worth much so won't buy - works every time.
 

[Robda1986]

1 hour ago, Pete said:

Nothing new here - marketing gurus - set a high price to make people believe the item is special and extra valuable and people will flock to buy.
Offer it too cheap and people will not think it's worth much so won't buy - works every time.
 

With that markup it's almost worth pumping out sets in a snazzy little case especially given its only Bullion 

[flyingveepixie]

I think RM is probably the most expensive source to buy from..  although I have always found them to offer a good and reliable service in the past. Their customer service reps are also helpful and polite.

[LawrenceChard]

9 hours ago, Robda1986 said:

Anyone else noticed the mint taking the royal piss with their premiums lately 3 sov set all Bullion 1800 that's 500 per sov and a box at 300 

https://www.royalmint.com/our-coins/ranges/historic-coins/historic-sets/Her-Majesty-The-Queens-Jubilee-Sovereign-Set/

As others have already said, this is nothing new. Perhaps you only just noticed, but I / we published information about their pricing of secondary market "historic" coins, up to about 20 years ago.

https://goldsovereigns.co.uk/wealthwarning.html

At one point they threatened to sue us for defamation because we mentioned their "rip-off" prices. Their solicitors wrongly, but presumably deliberately nd dishonestly stated that "rip-off" implied dishonesty. It does not. Needless to say, they did not proceed with their threatened action, because it was unfounded, without merit, and they would have lost the case, and had to pay our sustantial legal costs. The judgment in our favour would have served to confirm our position, and probably have caused permanent harm to the Royal Mint's reputation.

Somewhere we have a web page with more detail about the case, but I could nnot quickly find it as it is on one of our "historic" heritage sites, which we no longer actively maintain.

😎

I just found another of our old pages, this one from 2001, listing some Royal Mint sub-optimal practices:

https://24carat.co.uk/frame.php?url=royalmintcoinmistakes.html

 

Edited January 8, 2022 by LawrenceChard

[Griffo]

1 hour ago, LawrenceChard said:

As others have already said, this is nothing new. Perhaps you only just noticed, but I / we published information about their pricing of secondary market "historic" coins, up to about 20 years ago.

https://goldsovereigns.co.uk/wealthwarning.html

At one point they threatened to sue us for defamation because we mentioned their "rip-off" prices. Their solicitors wrongly, but presumably deliberately nd dishonestly stated that "rip-off" implied dishonesty. It does not. Needless to say, they did not proceed with their threatened action, because it was unfounded, without merit, and they would have lost the case, and had to pay our sustantial legal costs. The judgment in our favour would have served to confirm our position, and probably have caused permanent harm to the Royal Mint's reputation.

Somewhere we have a web page with more detail about the case, but I could nnot quickly find it as it is on one of our "historic" heritage sites, which we no longer actively maintain.

😎

I just found another of our old pages, this one from 2001, listing some Royal Mint sub-optimal practices:

https://24carat.co.uk/frame.php?url=royalmintcoinmistakes.html

 

Have they disadvantaged you in a business sense after your legal wrangle, by not letting you pre order or reducing allocation etc?

 

Spoke to a lady on your team yesterday, super helpful, efficient and professional, it spoke volumes.

[LawrenceChard]

18 minutes ago, Griffo said:

Have they disadvantaged you in a business sense after your legal wrangle, by not letting you pre order or reducing allocation etc?

 

Spoke to a lady on your team yesterday, super helpful, efficient and professional, it spoke volumes.

Yes, I believe so.

This is a possible anti-competitive practice, and could be illegal. As a government owned organisation, they may have some protection against legal actions. 

I'm happy to hear of your good experience with us.

🙂

[Griffo]

33 minutes ago, LawrenceChard said:

Yes, I believe so.

This is a possible anti-competitive practice, and could be illegal. As a government owned organisation, they may have some protection against legal actions. 

I'm happy to hear of your good experience with us.

🙂

Sometimes doing the right thing is expensive, it's good to hear you have the courage of your convictions, I believe when you do the right thing, other good things come your way

[LawrenceChard]

1 hour ago, Griffo said:

Sometimes doing the right thing is expensive, it's good to hear you have the courage of your convictions, I believe when you do the right thing, other good things come your way

Yes, on both points.

Sometimes the long term payback seems a little slow, though.🙂

[Griffo]

2 minutes ago, LawrenceChard said:

Yes, on both points.

Sometimes the long term payback seems a little slow, though.🙂

Patience is a virtue 😂

[LawrenceChard]

3 minutes ago, Griffo said:

Patience is a virtue 😂

I said that a few days ago...

But then I added, or is it a card game?

😎

[Griffo]

Well I just spent an hour in the que to RM to ask where my funds are and gave up in the end, try again in the week!

[sovereignsteve]

The difference in colour of the 3 coins is interesting though.

[Britannia47]

21 hours ago, sovereignsteve said:

The difference in colour of the 3 coins is interesting though.

I believe there is a separate issue here other than the all copper alloy we all dislike. The RM has for many years depicted its sovereigns as extra-ordinarily 'Pink' in all its advertising/brochures/online etc. In fact It is so artificial in colour as to be embarrassing! Surely the RM can produce an image that's more accurate in colour. None of my sovereigns look this way, unless I'm going colour blind! Of course when compared side by side with an older sovereign it looks terrible'

I remember the days when men were men, and sovereigns actually looked 'golden' not  'girly pink' representations.😄