Did Royal Mint know something we didn't know

[Maxx546]

I thought this during November when The 2022 Memorial Sovereign was first released..it was £100 more than the 2022 Jubilee Sovereign..

At the time of the release of the Memorial sovereign gold prices were at roughly £1470 per ounce...today it's at £1560.. I can see it making the 1570 - 1580 mark very soon ..

What's your thoughts on this ..

[Petra]

Nice coin

don’t think the mint has to worry about rushing out and buying gold bars any time soon🤔

[Maxx546]

7 minutes ago, Petra said:

Nice coin

don’t think the mint has to worry about rushing out and buying gold bars any time soon🤔

Thanks about the coin ..it was the first coin I bought when I was 16 ..bought it at the time for 20p and it got me hooked on old siver coins then onto gold coins 

Going back to the subject I agree with you that Royal Mint wouldn't have to worry about buying gold bars ..but if they knew gold was going to go up roughly £100 by January when they started production on the Memorial sovereigns..they would not want to take any hit on gold going up ..just my thoughts on why it was £100 more than the Jubilee sovereign 

[sovereignsteve]

1 minute ago, Maxx546 said:

why it was £100 more than the Jubilee sovereign 

Greed and because they knew we would pay it!

[Anteater]

34 minutes ago, Maxx546 said:

I thought this during November when The 2022 Memorial Sovereign was first released..it was £100 more than the 2022 Jubilee Sovereign..

At the time of the release of the Memorial sovereign gold prices were at roughly £1470 per ounce...today it's at £1560.. I can see it making the 1570 - 1580 mark very soon ..

What's your thoughts on this ..

I think it's more to do with high demand and mints being constrained by their production capacity than them having inside info on the future of gold spot prices.

(Maybe also energy prices and other increased production costs.)

Edited January 13, 2023 by Anteater

[sovereignsteve]

5 minutes ago, Maxx546 said:

Going back to the subject I agree with you that Royal Mint ....but if they knew gold was going to go up roughly £100 by January when they started production on the Memorial sovereigns..they would not want to take any hit on gold going up ..just my thoughts on why it was £100 more than the Jubilee sovereign 

£80 - £90 increase in spot price doesn't equate to a £100 increase in the price of a sovereign, roughly a quarter of that.

See my previous comment😎

[Zhorro]

40 minutes ago, Maxx546 said:

I thought this during November when The 2022 Memorial Sovereign was first released..it was £100 more than the 2022 Jubilee Sovereign..

At the time of the release of the Memorial sovereign gold prices were at roughly £1470 per ounce...today it's at £1560.. I can see it making the 1570 - 1580 mark very soon ..

What's your thoughts on this ..

The Brexit sovereign in 2020 was £800 - they charge what they think they can get away with.