Were these too expensive when first issued?

[DrDave]

I noticed on the RM site that these silver proof alphabet 10p were £45 when they were released? Sounds a lot for 6.5g of 925?

I've picked up 6 for less that £10 each, all in their acrylic blocks and boxes. There seems to be quite a few around.

Are they worth sitting on for a while?

[AppleZippoandMetronome]

As with any of these sorts of coins they were almost certainly overpriced by the RM - the vast majority of issues like this released by the RM just lose money over time.

I don't know what their future will be. With this sort of coin whether paying £45 or less than £10 you should buy them because you like them.

Personally I always wanted to get a set - I like them and think they'll be fun to look back on in years to come. I take a look for them every now and then and will get a set one day when I see one at a price I'm willing to pay.

Edit to add: I like them but that doesn't equate to me thinking they'll be a good investment. Bought at the right price I don't think they'll lose money but I don't expect to ever see these shoot up in value in any meaningful way beyond silver content

Edited July 26, 2022 by AppleZippoandMetronome

[LawrenceChard]

2 hours ago, DrDave said:

I noticed on the RM site that these silver proof alphabet 10p were £45 when they were released? Sounds a lot for 6.5g of 925?

I've picked up 6 for less that £10 each, all in their acrylic blocks and boxes. There seems to be quite a few around.

Are they worth sitting on for a while?

 

Whether they were overpriced is rather subjective, a matter of opinion.

The original purchasers were undoubtedly happy (ish) with the cost price, but typically the secondary market prices for coins like this are much lower than new prices. Just be happy you waited, although you still paid about 2 - 3 times intrinsic value.

Definitely don't sit on them. This might damage or discolour the packaging, and may also cause or exacerbate haemorrhoids.

They are also unlikely to hatch out into fifty pences!

😎

[DrDave]

2 minutes ago, LawrenceChard said:

Whether they were overpriced is rather subjective, a matter of opinion.

The original purchasers were undoubtedly happy (ish) with the cost price, but typically the secondary market prices for coins like this are much lower than new prices. Just be happy you waited, although you still paid about 2 - 3 times intrinsic value.

Definitely don't sit on them. This might damage or discolour the packaging, and may also cause or exacerbate haemorrhoids.

They are also unlikely to hatch out into fifty pences!

😎

Ah i see! I think i'm getting to know you a bit better now Mr Chard! 🤣

I think i'll probably look to put a set together and then stash them away somewhere that i wont accidently sit on them. It'll be fun to search i guess

I'm just surprised that a silver proof in a 'display' case is worth about the same as a blister pack BUNC 50p.I know which i prefer

[LawrenceChard]

24 minutes ago, LawrenceChard said:

Definitely don't sit on them. This might damage or discolour the packaging, and may also cause or exacerbate haemorrhoids.

They are also unlikely to hatch out into fifty pences!

😎

 

16 minutes ago, DrDave said:

Ah i see! I think i'm getting to know you a bit better now Mr Chard! 🤣

I think i'll probably look to put a set together and then stash them away somewhere that i wont accidently sit on them. It'll be fun to search i guess

I'm just surprised that a silver proof in a 'display' case is worth about the same as a blister pack BUNC 50p.I know which i prefer

However if you do sit on them, there are quite a few TSF members who might like to see the photos!

😎

Edited July 26, 2022 by LawrenceChard

[TheShinyStuff]

I also quite like these. Not enough to buy any, but they are least a little different. At less than a tenner each I think you'll be OK. It'll mount up to a storage issue though...

[DrDave]

3 minutes ago, TheShinyStuff said:

I also quite like these. Not enough to buy any, but they are least a little different. At less than a tenner each I think you'll be OK. It'll mount up to a storage issue though...

I'll make a special shelf and put them out on display! My wife will just love dusting them 🙄

[bluffer]

4 hours ago, DrDave said:

I noticed on the RM site that these silver proof alphabet 10p were £45 when they were released? Sounds a lot for 6.5g of 925?

I've picked up 6 for less that £10 each, all in their acrylic blocks and boxes. There seems to be quite a few around.

Are they worth sitting on for a while?

 

 

 

On fleabay?  You must have got lucky at that price and am not surprised you bought them, I would have bought them myself.  I have had half an eye out and the ones I have been watching went for £20 plus which is about my higher limit.  So as they arent a must have, I will just keep on watching. 

Just checked there and there a quite a few for £30plus and a lot about £60.  whether they will sell or not is another question, I would suspect the £60 ones will only go for presents than any collectors.

As for the future, who knows.  if you do, can i have the 6 numbers for saturday please?  My guess is £10 will remain very cheap and they will settle ( apart from a couple of sought after letters ) around the £20-£30 mark.

Edited July 26, 2022 by bluffer
spullign

[DrDave]

1 minute ago, bluffer said:

On fleabay?  You must have got lucky at that price and am not surprised you bought them, I would have bought them myself.  I have had half an eye out and the ones I have been watching went for £20 plus which is about my higher limit.  So as they arent a must have, I will just keep on watching. 

Just checked there and there a quite a few for £30plus and a lot about £60.  whether they will sell or not is another question, I would suspect the £60 ones will only got for presents than any collectors.

As for the future, who knows.  if you do, can i have the 6 numbers for saturday please?  My guess is £10 will remain very cheap and they will settle ( apart from a couple of sought after letters ) around the £20-£30 mark.

6, 19, 24, 31, 35, 43

I won't get too excited buying them, otherwise i'll get carried away and it'll get expensive!

I guess the letters with the lower mintages will carry the premium. I'll probably resin print my own version of Z. 

[LawrenceChard]

23 minutes ago, DrDave said:

6, 19, 24, 31, 35, 43

I won't get too excited buying them, otherwise i'll get carried away and it'll get expensive!

I guess the letters with the lower mintages will carry the premium. I'll probably resin print my own version of Z. 

How much to do a production run on the "Z"s?

They could be quite popular with either the Russian Invasion Force Special Military Operation, or with Zelensky supporters, therefore a good two-way bet!

😎

[DrDave]

3 minutes ago, LawrenceChard said:

How much to do a production run on the "Z"s?

They could be quite popular with either the Russian Invasion Force Special Military Operation, or with Zelensky supporters, therefore a good two-way bet!

😎

I've just realised a flaw in the plan. Although i could cover the resin coin in silver KitKat foil so that it would pass the magnet test, to be able to get the weight right it'd need to be almost 6" deep. Bit of a giveaway.

Back to the drawing board 🙄

[TheShinyStuff]

How much rarer are the 'rare' ones, and what do they typically sell for?

[DrDave]

19 minutes ago, TheShinyStuff said:

How much rarer are the 'rare' ones, and what do they typically sell for?

I thought i'd seen the mintage figures recently but can't find them now.

But the regular alphabet coins, W, Y, Z and R are the rarer ones, so i'd guess that its similar with the proofs too

[bluffer]

thought the silver proofs had the same mintage?

 

the circ 10p figures were different  https://www.changechecker.org/2021/02/02/rarest-a-z-10p-coins-revealed-2019-mintage-figures-update/

[DrDave]

2 minutes ago, bluffer said:

thought the silver proofs had the same mintage?

 

the circ 10p figures were different  https://www.changechecker.org/2021/02/02/rarest-a-z-10p-coins-revealed-2019-mintage-figures-update/

You could be right. 

I've just found on RM that the 2018 mintages were 220,000 for each letter, but thats just the regular circulation.

I'll find the figures somewhere for the prrofs, i'm sure 🥸

[TeaTime]

The problem with the silver proofs is that sold figures are considered a 'trade secret' by the RM. No-one knows how may of each coin were sold so anyone stating one coin is rarer than another is either guessing, outright lying or works at the RM.

Both the 2018 and 2019 issues had issue limits of 15,000 for the acrylic packaging and were sold for £45.

I like them and keep an eye out for them - often in job lots that work out at around a tenner each. I think the prices will eventually stabilise at circa £20. Ebay sold prices are currently ranging from £9 - £25 with no discernible letter preference.  

[DrDave]

10 minutes ago, TeaTime said:

The problem with the silver proofs is that sold figures are considered a 'trade secret' by the RM. No-one knows how may of each coin were sold so anyone stating one coin is rarer than another is either guessing, outright lying or works at the RM.

Both the 2018 and 2019 issues had issue limits of 15,000 for the acrylic packaging and were sold for £45.

I like them and keep an eye out for them - often in job lots that work out at around a tenner each. I think the prices will eventually stabilise at circa £20. Ebay sold prices are currently ranging from £9 - £25 with no discernible letter preference.  

Thats interesting to know. Like you. i'll keep an eye out for them at the right price.

[paulmerton]

I believe the current "bargain" prices stem from the fact that there was a tie-in that saw them being sold at Post Offices.

Hardly anyone actually bought them at £45 while they were popping in to post a letter (surprise, surprise!) and so the Post Office ended up selling them off for just £10 a box. That's why you see people selling multiple complete A-Z silver 10p sets on eBay for much less than the RRP (but more than £260 obviously!), and why you can still pick up the less-popular letters for about a tenner. I know a couple of people who snapped up hundreds! I think A, B and R are the hot picks, plus one other letter that escapes me.

Funnily enough, my first ever PF70 coin was a Stonehenge 10p  

I've heard some post offices are currently selling off the cupronickel Harry and Meghan £5 coins for their face value of £5!

[LawrenceChard]

52 minutes ago, paulmerton said:

I've heard some post offices are currently selling off the cupronickel Harry and Meghan £5 coins for their face value of £5!

Couldn't they just use them to pay for diesel at Tesco?

😎

[TheShinyStuff]

1 minute ago, LawrenceChard said:

Couldn't they just use them to pay for diesel at Tesco?

😎

They'll likely try to pay the staff using them...

[LawrenceChard]

11 hours ago, LawrenceChard said:

Couldn't they just use them to pay for diesel at Tesco?

😎

 

11 hours ago, TheShinyStuff said:

They'll likely try to pay the staff using them...

I guess you might not be aware of:

He is famous or infamous depending on your P.O.V.

Some of his YouTube videos are too long, but otherwise interesting.

 

[paulmerton]

Quote

Well, I'm not!

But I expect I know who you're talking about. I randomly bumped into him in the royal mint shop of all places last month.