Time to drag the Royal Mint's business model in to this century?

[BarryWoods]

5 minutes ago, James32 said:

How can you be sure they got the coin at rrp??

Maybe it passed through several hands - this was LAUNCH day 7th December. The RM only delivered these coins in the last week or so

So they had the 'futures option of guaranteed delivery of both of the coins) - either directly as a Mint Marque Customer, friends ,family or it passed trough intermediates -

They Presented themselves as DIRECT from RM. HAD been allocated it from RM. The expectation from me is that I would pay RRP..

I'm not concerned if they got it, it passed though multiple hands, with a bit knocked on, that is not the issue.

 

the issue is really for the RM to worry about a completely opaque business model, how coins, get to dealers. 

 

(I've got, I will flog it off - as it is useless to me as it will not be part of the pair. Won't lose any money)

[Gordy]

Just now, NewCoins said:

Have you looked at London coin company or britannia coin company ?

nope i looked at bullion house

[Gordy]

3 minutes ago, NewCoins said:

Have you looked at London coin company or britannia coin company ?

just now..... 10OZ completer?? WOW... 🤣

[Gordy]

6 minutes ago, BarryWoods said:

Maybe it passed through several hands - this was LAUNCH day 7th December. The RM only delivered these coins in the last week or so

So they had the 'futures option of guaranteed delivery of both of the coins) - either directly as a Mint Marque Customer, friends ,family or it passed trough intermediates -

They Presented themselves as DIRECT from RM. HAD been allocated it from RM. The expectation from me is that I would pay RRP..

I'm not concerned if they got it, it passed though multiple hands, with a bit knocked on, that is not the issue.

 

the issue is really for the RM to worry about a completely opaque business model, how coins, get to dealers. 

 

(I've got, I will flog it off - as it is useless to me as it will not be part of the pair. Won't lose any money)

you can get the 2oz portrait for under £600 though if you want the pair

[NewCoins]

It could have been worse Barry.

[FlorinCollector]

They have the same business model as Harrington and Byrne. Offer the best or close to bullion value coins. Then wreck the pensioners/uneducated with the proofs. 

 

[BarryWoods]

27 minutes ago, NewCoins said:

It could have been worse Barry.

sure - advertised prices vs the amount of money that anyone is willing to pay for it...... It's mark up much as you like and haggle out there.

 

[Gordy]

6 minutes ago, FlorinCollector said:

They have the same business model as Harrington and Byrne. Offer the best or close to bullion value coins. Then wreck the pensioners/uneducated with the proofs. 

 

These are actually doing a 2022 sov atm for 329.00 and the dealers are 339.00

[StackemHigh]

17 hours ago, ArgentSmith said:

Miller and Carter?

A lovely steakhouse.

[FlorinCollector]

Just now, Gordy said:

These are actually doing a 2022 sov atm for 329.00 and the dealers are 339.00

Yep and it is sad to see this is how they make a living but that is the market. They build a relationship this way and then offer you the latest proof coin. Triple retail and some take them up on it because they have built the trust like Barry here. 

[James32]

18 minutes ago, StackemHigh said:

A lovely steakhouse.

Sounds like a off-licence stroke gangsters poker house

[LawrenceChard]

23 hours ago, BarryWoods said:

Thoughts

 

 - now that there has been a recent sudden interest in Royal Mint products, products selling out. Feeding Frenzy, etc = should the VIP access be should be abolished-  is it in fact damaging the Royal Mint brand.

[Note my account Manager had said she could possibly get what I wanted, going forward, so not sour grapes, I could get coins, but is it fair to the public?)

 

That  a more standardize luxury Goods Business business model established - ie Authorized Retailers etc would be better for the Royal Mint brand?

Maybe at different levels of brand, price points, or sub brand - Engravers, Monarch (high end) Tudor Beasts Mid range) , etc other gold and silver sub brand ranges. etc

Allocations agreed with  authorized dealer network, international authorized dealer networks, transparency, TRUST,  now, all should have similar access, not how much money you have to get access, and the instant flipping speculating will stop, and the public and collectors will  want the product, not the profits.  (that alone should make the quality of the product improve)

 

What has puzzled me with Coin series like the Great engravers, why aren't high end Jewelers  having say the Great Engravers range, The Monarch range, say in the on higher weights 5oz..(or selected sizes)  in stock and maybe a very few other premium Royal Mint products

 

The Royal Mint would reach a wider luxury goods market.. there surely would be more demand?

 

The more old school coin dealers could focus on their specialties, historic, modern sovereign, maybe select some of the higher brands or not. or evolve as well. It could work for all. Nobody is cut out of the market, it expands and gets healthier.

 

Proofs - Change the capsule so it is vacuum sealed for life - to a (68 Proof and maybe above standard) and be like Rolls Royce in the old days and say - it is good enough for us, we don't need to tell you how much power.(pr grade, 68,69,70).

So if the USA collectors, etc want it graded - they have to break the Royal Mint Seal, and send it off to grading. and the Royal Mint, with theory thousand year history they keep remind us, look slight down on such 'vulgarity'

 

Maybe in time the Royal Mint ungraded product will be the collectible premium desirable coin, in all of it's presentation box, packaging, COA, and history..

 

[sorry, just hate slabbed coins] 

 

Thoughts?

 

ie Brand Management

 

-- Lots of thoughts in my head today - Former Product Marketing Manager and Former Product Manager - Cartier, Tiffany, Rolex are not like this!!! 

I think I understand some parts of your rant, but can't be sure, because it seems to be rather disjointed.

Former Product Marketing Manager and Former Product Manager For which companies?

 

 

[LawrenceChard]

21 hours ago, BarryWoods said:

Absolutely - My wife is an authorized Cartier and Tiffany Retailer -  No other company in the luxury goods market would behave like this..

 

Trading as who or what?

🙂

 

[HerefordBullyun]

4 minutes ago, James32 said:

Sounds like a off-licence stroke gangsters poker house

Liquior at the front and poker in the rear... read it out aloud

[James32]

3 minutes ago, LawrenceChard said:

I think I understand some parts of your rant, but can't be sure, because it seems to be rather disjointed.

Former Product Marketing Manager and Former Product Manager For which companies?

 

 

Tesco express or primark.....

Wee jokes bazza Wee jokes

2 minutes ago, HerefordBullyun said:

Liquior at the front and poker in the rear... read it out aloud

I'm not touching her ear

[BarryWoods]

Bullion House just rang offering a load of flannel, telling me stuff... I placed an order, Bullion House no returns policy - seemingly forgetting about distance selling laws etc..

Citizens advise line was clear, you can return any product - withing the 14 days if distance selling from date of delivery which was Saturday.

 

You would think they would want he coin back - they have the Portrait - they are worth more as a pair!!!

 

So far, they have now  removed misleading claims about  Baird & Co. and the Royal Mint from their website. I only told Baird and Co this morning,. Baird & must have rang them that was quick

 

Robert Gamgee at Bullion House is also fully aware last week my father passed away  and I had to deal Bullion House last week.

I was with my Covid +ve father . In a Covid ward at the Royal Berkshire hospital hours before his death, without a face masks so we could communicate - he was profoundly deaf.

and I am now having to self isolate away from my family, in a flat alone because I do not want to go home give my son Covid, or test +ve for Covid, due to Royal Marine Commandos starting selection training next week.

 

Robert knows all this....

 

Yet Robert again decided it would be a good idea to call me and talk about 'my email', let alone with telling about no returns policy, etc, etc - 

All I want to hear is, we got your email, funds will be transferred. we will arrange a courier, or you can post it

 

Sorry no, please do not contact me again by phone. If Bullion House is reading this, please simple refund via bank transfer.

I was questioning them last week about all this at a time that it was particularly stressful for me and the last thing I need is any contact from them. Email is fine..

Too think, I wasn't going to bother giving any reviews on review sites....................................................

 

The owners of Bullion House would be wise to make sensible business decision - to return funds. I will return coin. -or they arrange a courier to pick it up

They will have the coin, which they can sell as a pair - For MORE Money together as a pair -  I will have my funds.. win - win

 

Why do this?

I really do not need this

 

(and yes this is why I have a lot of time on my hands... alone in a flat awy for my family the last week and typing up all this, to get it off my chest...)

(and you may have noticed i my really do not give a **** attitude right now, about being messed about.)

 

[James32]

Citizens advise line was clear, you can return any product - withing the 14 days if distance selling from date of delivery which was Saturday

Not for bullion as the market moves too much?

[StackemHigh]

If you do not agree with @BarryWoods then you're never going to understand!

Seems very much like ZERO research and a huge dose of buyers regret.

 

[NewCoins]

1 minute ago, StackemHigh said:

If you do not agree with @BarryWoods then you're never going to understand!

Seems very much like ZERO research and a huge dose of buyers regret.

 

Absolutely 💯. 

Got caught up in making a few quid, then the coin dropped.

[LawrenceChard]

21 hours ago, FlorinCollector said:

The Royal Mint are going to laugh you out the door. 

No, they'll probably just ignore hime, or possibly send a bog standard "Thank you for your feedback" response.

😎

[LawrenceChard]

21 hours ago, BarryWoods said:

Nope.....

 

 

Nope.....

To which question?

[BarryWoods]

5 minutes ago, LawrenceChard said:

I think I understand some parts of your rant, but can't be sure, because it seems to be rather disjointed.

Former Product Marketing Manager and Former Product Manager For which companies?

 

 

Why does it matter... or are you attempting to discredit me, because that is not how the 'coin industry' works - my opinion is the relation of product from Royal Mint to coin dealer is dysfunctional - and that the RM Brand Management and deler supply chain is not in consumer interests. 

 

Luxury Goods brands do not function like this - RM product to dealer is utterly opaque and bad for their business -

What is the list Price of a 5 oz coin at RM - how does it end up at a coin dealer website the day of launch, at more than list price..

Does trading standards not apply.. do they not the RM care that dealers are marking things up for whatever they think they can get.. mad.

 

Literally millions of pound of gold commemorative coins, that have a list price at RM, end up in dealer network, "somehow" then at multiple markups..

A customer buys Cartier from us, we are an authorized reseller, a complete paper trail back to Cartier.

 

A guy offered me a Gothic Crown Portait coin the other day.

He said he had a friend , that had a friend that got five of them from from someone else, and that he could get me one - For a Royal Mint product that had not been release yet. The Royal Mint are insane

[BarryWoods]

10 minutes ago, James32 said:

Citizens advise line was clear, you can return any product - withing the 14 days if distance selling from date of delivery which was Saturday

Not for bullion as the market moves too much?

not bullion!!!

[BarryWoods]

Bullion is within 180% of spot price - this is not therefore bullion - 

[NewCoins]

6 minutes ago, BarryWoods said:

Why does it matter... or are you attempting to discredit me, because that is not how the 'coin industry' works - my opinion is the relation of product from Royal Mint to coin dealer is dysfunctional - and that the RM Brand Management and deler supply chain is not in consumer interests. 

 

Luxury Goods brands do not function like this - RM product to dealer is utterly opaque and bad for their business -

What is the list Price of a 5 oz coin at RM - how does it end up at a coin dealer website the day of launch, at more than list price..

Does trading standards not apply.. do they not the RM care that dealers are marking things up for whatever they think they can get.. mad.

 

Literally millions of pound of gold commemorative coins, that have a list price at RM, end up in dealer network, "somehow" then at multiple markups..

A customer buys Cartier from us, we are an authorized reseller, a complete paper trail back to Cartier.

 

A guy offered me a Gothic Crown Portait coin the other day.

He said he had a friend , that had a friend that got five of them from from someone else, and that he could get me one - For a Royal Mint product that had not been release yet. The Royal Mint are insane

I really think this has little to do with the Royal Mint. They aren't cartier.

You fell for some sales patter and since realised you probably paid over over odds.

Send it back if its within the 14 day period and move on with your life.

You are giving me a bit of high blood pressure, so I suspect yours isn't going to be doing too well.

Edited February 8, 2022 by NewCoins