Has the royal mint turned the corner?

[StackemHigh]

With the higher mintages and prices over the last sov releases (Maybe Spot price)  has the rm played a blinder? 

With some stock being left over into a second day have the mint got the limited numbers spot on? and could this affect the flippers vast inflated profits.

All we need now is a better rm website and a real quality control dept.

[dicker]

I don’t think so.

Personally, I don’t see the beauty or value in coins pumped out by the RM.

Where they produce hits they are re hashes of previous brilliance (Wyon for example)

I might be being controversial, but I far prefer earlier Sovereigns and coins from gold rush Australia and America.

I feel the RM is too commercial, and not driven by artisans.

[GoldDiggerDave]

Like it or not flippers  and lower mintages drive the market  which it benefits all people who buy coins even those who protest so much and say I'm a real collector and won't sell them....10 minutes later they are listing their coins for sale at the driven market price  I have seen this so many times on here. 

 

 

[Paul]

Any business that can generate over £25 million in sales in less than 24 hours on minimal marketing soft release is doing most of their business right I'd guess.

 

A good day for me is £300-500 earnt 

[Petra]

5 minutes ago, Paul said:

Any business that can generate over £25 million in sales in less than 24 hours on minimal marketing soft release is doing most of their business right I'd guess.

 

A good day for me is £300-500 earnt 

If only that was all profit!🤔

[LawrenceChard]

2 hours ago, StackemHigh said:

Has the royal mint turned the corner?

With the higher mintages and prices over the last sov releases (Maybe Spot price)  has the rm played a blinder? 

With some stock being left over into a second day have the mint got the limited numbers spot on? and could this affect the flippers vast inflated profits.

All we need now is a better rm website and a real quality control dept.

Has the royal mint turned the corner?

Yes, ever since it restarted supplying direct to Chards!

😎

[AppleZippoandMetronome]

I think if anything they'll be asking themselves if they shouldn't have released fewer coins. The RM clearly doesn't care about the average collector being able to get the coin they want. They care about selliing stock and I'm sure they'd much rather sell an entire release the morning of release than deal with having stock left over to sell later or maybe never.

The higher mintages surprised me when I saw them because it seemed very likely to me that the audience for these coins will have shrunk. Some people will opt not to buy feeling like the RM is milking it a bit too hard with this release. There will also be people not buying because of reduced disposable income as the cost of living crisis continues to bite. It surprises me they've sold as many of these as they have.

I say the above as someone who has bought into this release. I placed my order with Chards yesteday morning.

[Sc391]

Past years have not sold out immediately - 1989 or even last year with the late queen -but still are doing nicely now.  For my taste as long as they continue to produce great designs with historical significance the value will follow.

[LawrenceChard]

15 minutes ago, Sc391 said:

Past years have not sold out immediately - 1989 or even last year with the late queen -but still are doing nicely now.  For my taste as long as they continue to produce great designs with historical significance the value will follow.

The original indifference to the 1989 proof sovereign design still remains a mystery to me.

😎

[sovereignsteve]

1 hour ago, AppleZippoandMetronome said:

The RM clearly doesn't care about the average collector being able to get the coin they want.

If I can believe the person I spoke to today at the Mint, that isn't the case.

They said
(a) The sets were taken off the platform early yesterday becasue they were selling too quickly and they didn't want to run into an over-sell situation, as they have in the past, whereas some customers have had their order cancelled. They were then fed back.
(b) Even though they have a lot of singles (in the main) left, they have an "entity" nagging them to take all their remaining inventory! They have resisted so far so as to let everyone have a chance to buy!

Chew that one over.

[Foster88]

25 minutes ago, sovereignsteve said:

(b) Even though they have a lot of singles (in the main) left, they have an "entity" nagging them to take all their remaining inventory! They have resisted so far so as to let everyone have a chance to buy!

Chew that one over.

What’s Lawrence up to? 🤔

[GoldDiggerDave]

Looks like the 5 coin sets are no longer available...... Watch everyone who's bought  these slam the price up and rightly so this is how economics works, the simple fact of supply and demand  "real collectors" should be on their knees  thanking the evil flippers for injecting so much time, money and demand into the market which they benefit from.   

Look at all the KCIII 50p, and 1oz coins they produced with unlimited number there was zero reason to buy them on launch as you had 3 months to buy one if you wanted and why would you?  I like the 50P coronation crown reverse but no way would buy one knowing the secondary market will be flooded with them and likely I could pick one up under the original RRP.....And the biggest kick in the teeth with these the RM took the money up front for something that's likely to be worth less by the time it's delivered. "real collector" or not no one  wants to be buying coins that will depreciate in price.

How many people bought keepsakes coronation crowns in 1953 passing them on to their kids for it to be shoved in a draw for half a century only to be sold on a car boot or a dealer for 25p when they die, sorry to be morbid but this is a fact and in reality it's lost 99.99% of its real world value............great investment for the family granddad!  

For me the whole idea of buying coins that I like is they will hopefully appreciate and when I pop my clogs or before I have something of value to pass on or cash in.   Isn't that what "real collectors" want too?  

 

  

 

 

 

[AppleZippoandMetronome]

12 hours ago, sovereignsteve said:

If I can believe the person I spoke to today at the Mint, that isn't the case.

They said
(a) The sets were taken off the platform early yesterday becasue they were selling too quickly and they didn't want to run into an over-sell situation, as they have in the past, whereas some customers have had their order cancelled. They were then fed back.
(b) Even though they have a lot of singles (in the main) left, they have an "entity" nagging them to take all their remaining inventory! They have resisted so far so as to let everyone have a chance to buy!

Chew that one over.

That is very promising. Its a point I'd be more than happy to be proven wrong over as any action they take has to be good for collectors being able to get the coins they want without paying a secondary market price.

[sovereignsteve]

11 hours ago, Foster88 said:

What’s Lawrence up to? 🤔

Mmm I notice he is keeping quiet about this. Smoke? Fire?😎

[Foster88]

45 minutes ago, sovereignsteve said:

Mmm I notice he is keeping quiet about this. Smoke? Fire?😎

Embargo? 😆

[GoldStatue]

I don't think the higher mintages for this release is anything unexpected, it's a big event and non-coin collectors will want to spend their hard earned on a piece of memorabilia.

I just fear how many coins they will release over the next year, real fatigue will set in if they release collector's coins in every denomination for every trivial event.

I wonder if there will be some more queen's beast type statues at the coronation and another 10 coin set being released for that as the king's beast?

[sovereignsteve]

Totally expected but I thought the price increases were too much.

[Foster88]

42 minutes ago, GoldStatue said:

I don't think the higher mintages for this release is anything unexpected, it's a big event and non-coin collectors will want to spend their hard earned on a piece of memorabilia.

I just fear how many coins they will release over the next year, real fatigue will set in if they release collector's coins in every denomination for every trivial event.

I wonder if there will be some more queen's beast type statues at the coronation and another 10 coin set being released for that as the king's beast?

I think it’s safe to say that 2023 will be another busy year and the RM will be milking the coronation too.

There may well be a series of kings beasts or even a memorial set for each of the late queens late corgis. I wouldn’t put it past them.

[pricha]

Can't say anything bad about customer service. I cancelled this particular sovereign. Got through on the phone immediately and all sorted with courtesy within minutes.  Compare that with other companies who leave you hanging on for hours.     

[Silverlocks]

16 hours ago, Paul said:

Any business that can generate over £25 million in sales in less than 24 hours on minimal marketing soft release is doing most of their business right I'd guess.

You might say it's a licence to print money . . .

Edited November 17, 2022 by Silverlocks

[GoldStatue]

33 minutes ago, pricha said:

Can't say anything bad about customer service. I cancelled this particular sovereign. Got through on the phone immediately and all sorted with courtesy within minutes.  Compare that with other companies who leave you hanging on for hours.     

That's true, to be fair their QC department tends to drop the ball a fair bit, but it is very easy to return the coins.

[Sc391]

General question - for most collectors which is more desirable the Piedfort sovereign or the three coin set?  Thanks for any comments.

[Stuntman]

^^^ I wouidn't choose either, but I suspect the answer is probably the piedfort.  Personally I would rather 'just' have the full sovereign than either of these.

[LawrenceChard]

3 hours ago, GoldStatue said:

That's true, to be fair their QC department tends to drop the ball a fair bit, but it is very easy to return the coins.

It that due to lots of practice and experience?

😎

[LawrenceChard]

6 hours ago, AppleZippoandMetronome said:

That is very promising. Its a point I'd be more than happy to be proven wrong over as any action they take has to be good for collectors being able to get the coins they want without paying a secondary market price.

You are talking as if "secondary market price" means "higher price" which is not necessarily so.

As @GoldDiggerDave points out, it is often lower.

Which did you mean?

😎

18 hours ago, sovereignsteve said:

If I can believe the person I spoke to today at the Mint, that isn't the case.

They said
(a) The sets were taken off the platform early yesterday becasue they were selling too quickly and they didn't want to run into an over-sell situation, as they have in the past, whereas some customers have had their order cancelled. They were then fed back.
(b) Even though they have a lot of singles (in the main) left, they have an "entity" nagging them to take all their remaining inventory! They have resisted so far so as to let everyone have a chance to buy!

Chew that one over.

17 hours ago, Foster88 said:

What’s Lawrence up to? 🤔

I or @ChardsCoinandBullionDealer would probably be happy to take any remaining stock from them, and at more than their "entity" is offering to pay!

Maybe it's an "old pal" or a "favourite customer"?

😎