Rmint ‘complete’ sovereign set

[Agaupl]

£6650 for 6 sovereigns in a nice box? 

[westminstrel]

Divide by 2 (at least) to arrive at true value. 

[JamesH]

This is really bad. Should be renamed Royal London Hattons Mint

[GBStacking]

That one would be a hard pass from me! Such a shame they are going down the route of these sort of sets. Especially after the travesty that was their "Flagship Coins Of The World" set https://www.royalmint.com/shop/coin-sets/Flagship-Coins-of-the-World-1oz-Silver-Bullion-Coin-Set/ , 6 of the most generic bits of 1oz silver bullion out there for a staggering £82.50 an ounce! Wants to be one hell of a box it comes in

 

[srh2023]

Even more absurd considering 3 of the coins are no longer legal tender and hence not even CGT free! 

[SeverinDigsSovereigns]

Anything RM sells you can be bought for less even at BBP. And the condition of coins in that picture is just tragic.

[paulmerton]

1 hour ago, srh2023 said:

Even more absurd considering 3 of the coins are no longer legal tender and hence not even CGT free! 

Why are they not all legal tender? 🤔

[MrStacker]

…and I thought Sharps were pricey lol 

[SeverinDigsSovereigns]

21 minutes ago, paulmerton said:

Why are they not all legal tender? 🤔

It was decreed I think sometime in 1890s that all coins before Queen Victoria ceased to be legal tenders. This was most likely because they were either held in the hands of collectors or so heavily circulated that the gold content fell significantly short. And because there probably weren't so many around anyway they didn't bother to recycle all.

When gold was circulating money they did periodically recycle worn out coins and mint new ones instead. This is also why mintage figures don't necessarily reflect the scarcity of earlier gold coins...

[Agaupl]

8 minutes ago, SeverinDigsSovereigns said:

It was decreed I think sometime in 1890s that all coins before Queen Victoria ceased to be legal tenders. This was most likely because they were either held in the hands of collectors or so heavily circulated that the gold content fell significantly short. And because there probably weren't so many around anyway they didn't bother to recycle all.

When gold was circulating money they did periodically recycle worn out coins and mint new ones instead. This is also why mintage figures don't necessarily reflect the scarcity of earlier gold coins...

There should be a surprised face emoji. I didn’t know this. 

[paulmerton]

11 minutes ago, SeverinDigsSovereigns said:

It was decreed I think sometime in 1890s that all coins before Queen Victoria ceased to be legal tenders. This was most likely because they were either held in the hands of collectors or so heavily circulated that the gold content fell significantly short. And because there probably weren't so many around anyway they didn't bother to recycle all.

When gold was circulating money they did periodically recycle worn out coins and mint new ones instead. This is also why mintage figures don't necessarily reflect the scarcity of earlier gold coins...

Is this documented anywhere? Every dealer selling them seems to be claiming they're legal tender back to 1817.

[paulmerton]

21 minutes ago, SeverinDigsSovereigns said:

It was decreed I think sometime in 1890s that all coins before Queen Victoria ceased to be legal tenders. This was most likely because they were either held in the hands of collectors or so heavily circulated that the gold content fell significantly short. And because there probably weren't so many around anyway they didn't bother to recycle all.

When gold was circulating money they did periodically recycle worn out coins and mint new ones instead. This is also why mintage figures don't necessarily reflect the scarcity of earlier gold coins...

I just found this https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg78305

The pre-1837 coins would count as chattels, so probably not a massive concern unless you have a rude amount of them  

[SeverinDigsSovereigns]

22 minutes ago, paulmerton said:

Is this documented anywhere? Every dealer selling them seems to be claiming they're legal tender back to 1817.

https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg78305

They're no longer legal tender but still CGT exempt as personal chattels. Wikipedia says there was a proclamation in 1891 but I can't find the original text.

10 minutes ago, paulmerton said:

I just found this https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg78305

The pre-1837 coins would count as chattels, so probably not a massive concern unless you have a rude amount of them  

Wow we just posted the same thing at the same time...

https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg76573 states the limit of CGT free gain at £6000

Apparently you could avoid that even if you have a rude amount of pre-1837 as long as the profit on each is less than £6000. You need to sell them individually to non-connected individuals. You can't sell to a single person or a group of people who apparently know each other https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg76631

Edited December 7, 2023 by SeverinDigsSovereigns

[ZRPMs]

RM scalping again. I've not bought from RM as of yet and to be fair probably never will. I think they just over price everything and trade on their past good name, to the detriment of their future reputation.

[Orpster]

7 hours ago, Agaupl said:

£6650 for 6 sovereigns in a nice box? 

@BackyardBullion did a video about some of the sets they have been churning out and did a price comparison buying the same coins individually, worth a watch if you have not seen it.

They were not always like this, I have been buying from them since you had to cut the order form out the back of a paper or magazine and send it off with a cheque  

I stopped about 18 months ago when I had to return 5 silver proofs on the trot due to poor quality

[ZRPMs]

Lot's of folk not happy with the quality control from the Mint recently. Even the detail on St George and the Dragon on the newer bullion sovereigns in comparison to the older sovereigns. Apart from the coppery rose coloured gold. Sad really. I hope they get it together.

[PhilB]

3 hours ago, srh2023 said:

Even more absurd considering 3 of the coins are no longer legal tender and hence not even CGT free! 

It may be along time before you need to worry about cgt on them!! Lol 

[BackyardBullion]

50 minutes ago, Orpster said:

@BackyardBullion did a video about some of the sets they have been churning out and did a price comparison buying the same coins individually, worth a watch if you have not seen it.

They were not always like this, I have been buying from them since you had to cut the order form out the back of a paper or magazine and send it off with a cheque  

I stopped about 18 months ago when I had to return 5 silver proofs on the trot due to poor quality

Video coming out soon on this one 🙂 

[BackyardBullion]

 

 

[Britannia47]

@Agaupl  @BackyardBullion

I’ve put together my own versions of the RMs 6 coins, in somewhat better condition, However the RM does stipulate the condition varies between Fine & VF - (mostly Fine by the looks of it) and of course overpriced!

It seems that the RM has been selling off historical coins for sometime now at super inflated prices, but what surprises me is the RMs ability to find or source that many to put together 99 sets, in particular the first 3 coins.  This may be part of the ‘buy-back’ policy from dealers etc.  If only the RM had put aside coins after each year….Perhaps they employ Sovereign scouts!

However, I do know that the RM has ‘experts’ in the field to advise them. I believe the RM has a nearly 25% stake in ‘Sovereign Rarities’ and a share in their profits as well as advice from the likes of Steve Hill & co.

One last point, I remember the RM, owing to the popularity of ‘Gillicks’ were asking  £750 for the 1957 Talk about jumping on the bandwagon! I’m glad I already have one or two..😀 Rant over.

 

 

 

[SeverinDigsSovereigns]

10 minutes ago, Britannia47 said:

@Agaupl  @BackyardBullion

I’ve put together my own versions of the RMs 6 coins, in somewhat better condition, However the RM does stipulate the condition varies between Fine & VF - (mostly Fine by the looks of it) and of course overpriced!

It seems that the RM has been selling off historical coins for sometime now at super inflated prices, but what surprises me is the RMs ability to find or source that many to put together 99 sets, in particular the first 3 coins.  This may be part of the ‘buy-back’ policy from dealers etc.  If only the RM had put aside coins after each year….Perhaps they employ Sovereign scouts!

However, I do know that the RM has ‘experts’ in the field to advise them. I believe the RM has a nearly 25% stake in ‘Sovereign Rarities’ and a share in their profits as well as advice from the likes of Steve Hill & co.

One last point, I remember the RM, owing to the popularity of ‘Gillicks’ were asking  £750 for the 1957 Talk about jumping on the bandwagon! I’m glad I already have one or two..😀 Rant over.

 

 

 

Funnily enough there are plenty of coins you could get for much cheaper at Sovereign Rarities than from RM website. The historical coins in particular. Rm sells  generic Victoria/Edward VII/George V sovereigns for a £600 minimum and they're not even AUNC.