Royal mint survey

[Shinus73]

10 hours ago, SeverinDigsSovereigns said:

Glad I'm not alone. For one moment I thought I was the only one on TSF doing the series in 1oz gold

Sorry, 1 oz silver only for me. Can’t justify any gold proof RM purchase currently.

[apachebleu]

12 hours ago, SeverinDigsSovereigns said:

Glad I'm not alone. For one moment I thought I was the only one on TSF doing the series in 1oz gold

 I actually really like them and if they were bullion I would have been collecting the series however I just don't love them enough to spend that kind of money which I know I'm very unlikely to see back.

 I do admit that I am more stacker/saver than a collector though so I guess it's not really aimed at me. Very good series though.

[apachebleu]

12 hours ago, SeverinDigsSovereigns said:

Glad I'm not alone. For one moment I thought I was the only one on TSF doing the series in 1oz gold

 I actually really like them and if they were bullion I would have been collecting the series.

12 hours ago, SeverinDigsSovereigns said:

Glad I'm not alone. For one moment I thought I was the only one on TSF doing the series in 1oz gold

 I actually really like them and if they were bullion I would have been collecting the series.

12 hours ago, SeverinDigsSovereigns said:

Glad I'm not alone. For one moment I thought I was the only one on TSF doing the series in 1oz gold

 I actually really like them and if they were bullion I would have been collecting the series.

[Chronos]

39 minutes ago, apachebleu said:

 I actually really like them and if they were bullion I would have been collecting the series.

 I actually really like them and if they were bullion I would have been collecting the series.

 I actually really like them and if they were bullion I would have been collecting the series.

Fine, we understood it the first time. There was no need to repeat it ...

[SeverinDigsSovereigns]

3 hours ago, apachebleu said:

 I actually really like them and if they were bullion I would have been collecting the series however I just don't love them enough to spend that kind of money which I know I'm very unlikely to see back.

 I do admit that I am more stacker/saver than a collector though so I guess it's not really aimed at me. Very good series though.

The modern proofs are all quite overpriced

[apachebleu]

4 hours ago, Chronos said:

Fine, we understood it the first time. There was no need to repeat it ...

 Sorry all, no idea what happened there

[westminstrel]

On 31/12/2023 at 04:26, apachebleu said:

 Problem is that this path only slightly delays the inevitable. They can lazily milk the last vestiges of credibility from the soverign and have a few more decent launches/sales spikes but that won't last long and the trade off is that you burn your prize asset.

 To be successful they need to offer the customer something new. I mean some ideas they suggest in the survey are not bad in and of themselves, they are bad in the context of the soverign. May be look at applying those things to other coins/bars. Perhaps stop aiming the product at the older crowd?

 How many young people give a c**p about tutankhamun, Alexander graeme Bell, dame Vera Lynn etc? As long as you churn out unimaginative c**p like that you'll never grow. 

 Young people don't dislike gold, maybe the mint should be looking at what and who today's 18 to 30 group care about or are influenced by and collaborate with them rather than hoping we buy the outdated near weekly 'special editions'. Do they want ounce coins? Maybe not, would they like a medallion/pendant designed in collaboration with a rapper? It's more likely that's for sure.

On the other hand, this demographic is unlikely to be able to afford gold to purchase enough volume annually to be considered a demographic that the RM really cares about.

Compound this with the fact that this demographic is - as an attribute of age - inherently less interested in saving and thinking long term.

The RM’s main demographic is likely older age group people who are conscious of PMs as an investment AND have the money to purchase / invest.

Just imo.

[SeverinDigsSovereigns]

21 minutes ago, westminstrel said:

On the other hand, this demographic is unlikely to be able to afford gold to purchase enough volume annually to be considered a demographic that the RM really cares about.

Compound this with the fact that this demographic is - as an attribute of age - inherently less interested in saving and thinking long term.

The RM’s main demographic is likely older age group people who are conscious of PMs as an investment AND have the money to purchase / invest.

Just imo.

I am one of the younger people who would invest in gold. I am also at odds with the rest of my age group regarding taste so I'm still officially an old man.

I know quite some young people who have the money (from the mighty Bank of Mummy&Daddy) and can stomach some gold, and none of us are the typical game/anime-addicts as suggested above a potential audience. I doubt those people would be financially sound and interested in precious metals simultaneously (and many of them are commies).

 

[GoldDiggerDave]

The Royal Mint is in a very difficult position as gold keeps on rising they will find it very hard to maintain their current margins the next  proof sovereign is likely to be north of £800 and I know they held back a price bump for the 2024 factor in reduced demand and they are in trouble.  

There is an approach where they can satisfy their current customers both bullion and the collator market and introduce new blood into both sectors.  

Just dreaming up another spurious commemoration is not working and it hasn't for a while.   

Also some collectors  want an excuse not to buy, I know this sounds counter intuitive to some but the reality everyone has been effected by inflation higher bills, rent mortgage payments etc they want an excuse  for the reasons why they can't afford the hobby anymore........Theres no shame in this and again this can be very easily addressed to keep collectors engaged.  

 

 

 

 

 

[CoinStruck]

9 minutes ago, GoldDiggerDave said:

The Royal Mint is in a very difficult position as gold keeps on rising they will find it very hard to maintain their current margins the next  proof sovereign is likely to be north of £800 and I know they held back a price bump for the 2024 factor in reduced demand and they are in trouble.  

There is an approach where they can satisfy their current customers both bullion and the collator market and introduce new blood into both sectors.  

Just dreaming up another spurious commemoration is not working and it hasn't for a while.   

Also some collectors  want an excuse not to buy, I know this sounds counter intuitive to some but the reality everyone has been effected by inflation higher bills, rent mortgage payments etc they want an excuse  for the reasons why they can't afford the hobby anymore........Theres no shame in this and again this can be very easily addressed to keep collectors engaged.  

 

 

Yes in the end when cash gets tight the first spending to curtail is discretionary. Any spending on a hobby is discretionary spending. 

 

 

 

[Olivard]

1 hour ago, GoldDiggerDave said:

The Royal Mint is in a very difficult position as gold keeps on rising they will find it very hard to maintain their current margins the next  proof sovereign is likely to be north of £800 and I know they held back a price bump for the 2024 factor in reduced demand and they are in trouble.  

They tried to milk the market after the success of the Jubilee Sovereign with much higher prices and flooded it with larger volumes. I know that the price of gold and production costs have risen but the price of the 2024 proof is already high. The prospect of £800 is ridiculous. The birthday sotd can still be bought at issue price at BBP despite only 850 being issued and being the only 2023 sovereign to have a bare head king.

[GoldDiggerDave]

11 minutes ago, Olivard said:

They tried to milk the market after the success of the Jubilee Sovereign with much higher prices and flooded it with larger volumes. I know that the price of gold and production costs have risen but the price of the 2024 proof is already high. The prospect of £800 is ridiculous. The birthday sotd can still be bought at issue price at BBP despite only 850 being issued and being the only 2023 sovereign to have a bare head king.

They are a business and we do love new coins.   Its a duality of the market and the hobby, we want new coins if they don't mint enough then we are un happy as most can't get them and whinge and moan the "real collectors" can't get them.   I.E the recent  reverse proof coronation 1oz  and when theres an abundance or less of a demand the "real collators"  whinge and moan and are upset the coins  not an instant sell out and its not bumped in price 50% and they can readily buy them a few weeks after launch. 

There's no prefect answer or solution.   Can the Royal Mint do a lot more yes, but they have point blank run out of ideas and will become a glorified gift shop if they don't turn things around soon.  

Their commercial coin currency business has fallen off a cliff, not just for UK currency but they have lost large contracts for producing other counters coinage and blanks,  so they must be feeling it from all aspects of their business.