Investigation into Historic Coin Pricing by The Royal Mint

[BackyardBullion]

@HonestMoneyGoldSilver

I can foresee a very similar response to a request for the turnover of the collector services division.

An excuse to cover their profiteering.

[Agaupl]

Are they putting a standard mark up on all sets? Or is it variable? 

[BackyardBullion]

Either they sold 99x £8k sets (way over priced) in less than 36 hours or they saw us making fun of it....

 

[Bruce06]

I see this also.  At £533 for a single maundy set, i would expect all sets are at very very supreme quality sets, which i don't think they would🤣.

[JamesH]

@BackyardBullion heard the latest? Their silent auction for these 23 BU 2023 sovereign sets is no longer silent. All losing bidders getting emailed to advise their bids are not high enough to win, all winning bidders emailed to advise they’re in a winning position but that they may wish to increase their bid as losing bids have been notified they will need to increase to win! Scummy tactics from RM

[BackyardBullion]

2 minutes ago, JamesH said:

@BackyardBullion heard the latest? Their silent auction for these 23 BU 2023 sovereign sets is no longer silent. All losing bidders getting emailed to advise their bids are not high enough to win, all winning bidders emailed to advise they’re in a winning position but that they may wish to increase their bid as losing bids have been notified they will need to increase to win! Scummy tactics from RM

At this point this does not surprise me. 

Have you got some media I can see to back this up? Would love to highlight how terrible this is. 

[JamesH]

Just now, BackyardBullion said:

At this point this does not surprise me. 

Have you got some media I can see to back this up? Would love to highlight how terrible this is. 

Am afraid not. Picked this up on a FB metals group. Happy to check if they’d be willing to forward the email to me 👍🏼

[BackyardBullion]

Here is my thumbnail for todays Rant.

Its a long one at 19 minutes. 

 

[tpcob303]

1 hour ago, BackyardBullion said:

At this point this does not surprise me. 

Have you got some media I can see to back this up? Would love to highlight how terrible this is. 

I have seen it with my own eyes on a Facebook group. But it's not my message and I would need permission and that might not be granted to share. 

[BackyardBullion]

Just now, tpcob303 said:

I have seen it with my own eyes on a Facebook group. But it's not my message and I would need permission and that might not be granted to share. 

I have been sent a screenshot of the message by a third party. 

But the problem I have is that I cannot really run a story/video on this without substantiating it. 

I have reached out to The Royal Mint PR officer I have been dealing with to get them to confirm/deny this and offer comment. 

That's all I can do. 

Whilst I don't doubt the Royal Mint have done this I cannot make a video until I have conclusive proof the email is genuine. 

If you want to pass my details over to anyone on that Facebook that wants to forward me the actual email they recieved please let them know! My email is byb@backyardbullion.com

[BackyardBullion]

9 minutes ago, tpcob303 said:

I have seen it with my own eyes on a Facebook group. But it's not my message and I would need permission and that might not be granted to share. 

I have been sent a screenshot of the message by a third party. 

But the problem I have is that I cannot really run a story/video on this without substantiating it. 

I have reached out to The Royal Mint PR officer I have been dealing with to get them to confirm/deny this and offer comment. 

That's all I can do. 

Whilst I don't doubt the Royal Mint have done this I cannot make a video until I have conclusive proof the email is genuine. 

If you want to pass my details over to anyone on that Facebook that wants to forward me the actual email they recieved please let them know!

[tpcob303]

24 minutes ago, BackyardBullion said:

I have been sent a screenshot of the message by a third party. 

But the problem I have is that I cannot really run a story/video on this without substantiating it. 

I have reached out to The Royal Mint PR officer I have been dealing with to get them to confirm/deny this and offer comment. 

That's all I can do. 

Whilst I don't doubt the Royal Mint have done this I cannot make a video until I have conclusive proof the email is genuine. 

If you want to pass my details over to anyone on that Facebook that wants to forward me the actual email they recieved please let them know!

I want to but some members of that group don't get along well with some members on here and I don't want to make more issues for myself and other parties or naming names etc. 

[BackyardBullion]

30 minutes ago, tpcob303 said:

I want to but some members of that group don't get along well with some members on here and I don't want to make more issues for myself and other parties or naming names etc. 

No, that's totally fair enough. 

As I said, I have reached out to some contacts and will see if I can hold them to account for this. 

[Upsidedown]

My first stop when I started stacking was YouTube, and I'm grateful for that because I found this place. Saved myself a fortune, as has been said, the first logical place you go to is the mint, that's what I would have done.

[BackyardBullion]

 

 

 

[BackyardBullion]

 

 

[cjbcomm]

Well done for raising awareness further.

I actually like some of their historic offerings. The idea of combining a modern coin with it's historical twin is good. But why oh why must they charge so much? Can only be pure profiteering. 

A number of businesses charge what they think the client will pay for the service. Doesn't work here as it is so easy to compare and contrast RM pricing with the open market.

No doubt they won't listen but the more people who keep on at them and dissuade others from purchasing might help a little

[SovereignBull]

.

 

 

Edited March 18 by SovereignBull

[tpcob303]

3 hours ago, BackyardBullion said:

 

 

 

I left a comment on the video, however I will say it again here. 

Go to the press, make it public hold them to account with some public shaming more than social media can do. Once it's in the papers people will take more notice especially the government who runs them, it seems today the government is more interested in the courts of public opinion like alot of things in life the press hold massive influence on alot of issues. 

Edited March 18 by tpcob303
Needed to say more.

[BackyardBullion]

16 minutes ago, tpcob303 said:

 

I left a comment on the video, however I will say it again here. 

Go to the press, make it public hold them to account with some public shaming more than social media can do. Once it's in the papers people will take more notice especially the government who runs them, it seems today the government is more interested in the courts of public opinion like alot of things in life the press hold massive influence on alot of issues. 

Thanks, I have acually reached out to my MP for a meeting. Will see where the land lies if that ever comes to pass. 

[BackyardBullion]

I am expecting a statement from the royal mint soon regarding the not so silent auction situation. 

Watch this space. 

[westminstrel]

19 minutes ago, BackyardBullion said:

I am expecting a statement from the royal mint soon regarding the not so silent auction situation. 

Watch this space. 

Looks like they’ve already determined the winners and sent out the invoices, though.

[BackyardBullion]

Statement from The Royal Mint in regards the Silent Auction Situation

Starts

“We have received feedback on an email sent to bidders of The Royal Mint’s silent auction on Sunday 17th March, 2024. 

The intention of the communication was to keep bidders informed relating to their bids, however, we understand that some recipients of the email felt that it was not in the spirit of a silent auction - and we apologise for this. 

We are currently reviewing the outcome of the auction and will be updating bidders on next steps as soon as we can.”

Ends

[Shinus73]

1 hour ago, BackyardBullion said:

Statement from The Royal Mint in regards the Silent Auction Situation

Starts

“We have received feedback on an email sent to bidders of The Royal Mint’s silent auction on Sunday 17th March, 2024. 

The intention of the communication was to keep bidders informed relating to their bids, however, we understand that some recipients of the email felt that it was not in the spirit of a silent auction - and we apologise for this. 

We are currently reviewing the outcome of the auction and will be updating bidders on next steps as soon as we can.”

Ends

The intention was to increase the bids, plain and simple.

[Paul]

1 hour ago, BackyardBullion said:

Statement from The Royal Mint in regards the Silent Auction Situation

Starts

“We have received feedback on an email sent to bidders of The Royal Mint’s silent auction on Sunday 17th March, 2024. 

The intention of the communication was to keep bidders informed relating to their bids, however, we understand that some recipients of the email felt that it was not in the spirit of a silent auction - and we apologise for this. 

We are currently reviewing the outcome of the auction and will be updating bidders on next steps as soon as we can.”

Ends

Well it's a complete breach of their own terms and conditions

One sealed bid - breached

One per household - breached 

Complete shower of chit

Edited March 19 by Paul