British Monarchs Series - They Couldn’t, Could They?

[Shinus73]

7 minutes ago, westminstrel said:

Who here has an Account Manager and can share any resolution that is discussed?

I've already enquired, so will share my findings.

[BackyardBullion]

2 minutes ago, Shinus73 said:

I've already enquired, so will share my findings.

My account manager won't answer the phone to me it seems

[paulmerton]

14 minutes ago, westminstrel said:

“We are committed to offering our customers premium products and services, and we want to offer a solution that recognises your loyalty to this collection.”

Like what? 🫥

That's interesting - my email doesn't contain that sentence.

[Darr3nG]

Just now, paulmerton said:

That's interesting - my email doesn't contain that sentence.

same

We are contacting you regarding The Royal Mint’s British Monarchs Collection.

We know that collectors have been awaiting further news on this collection since the George II coin was released in August 2023.

As a loyal customer, we wanted to inform you directly that we have recently made the difficult decision to discontinue this product range.

Each year, The Royal Mint undertakes a full analysis of sales and demand across every denomination and design of coin that we produce.

Unfortunately, due to a decline in interest and changing market conditions, the British Monarchs Collection is no longer commercially viable for us to continue.

We would like to assure you that this decision has not been taken lightly, and we have explored several other options.

I understand that this is disappointing news, and we sincerely apologise for any inconvenience this may cause.

Thank you for your continued support.

[Whitebulldog]

15 minutes ago, westminstrel said:

“We are committed to offering our customers premium products and services, and we want to offer a solution that recognises your loyalty to this collection.”

Like what? 🫥

I didn’t get that sentence in my email 

[BackyardBullion]

Double standards for the VIP's it seems

[timsk]

3 minutes ago, Whitebulldog said:

I didn’t get that sentence in my email 

Me neither!

2 minutes ago, BackyardBullion said:

Double standards for the VIP's it seems

Are you saying it's in your email, BYB?

[BackyardBullion]

2 minutes ago, timsk said:

Me neither!

Are you saying it's in your email, BYB?

Yes, I have that sentence. 

[BackyardBullion]

Here is my communication in full. 

The sentence in question is at the bottom.

[paulmerton]

I'm a bit miffed about not being graced with that sentence when I've bought 9 coins in this series, one of which was the most expensive coin I've ever bought.

[Whitebulldog]

Just now, paulmerton said:

I'm a bit miffed about not being graced with that sentence when I've bought 9 coins in this series, one of which was the most expensive coin I've ever bought.

Same. I have all the silver coins, albeit 3 were bought on the secondary market as the early ones sold out so quickly. But I’ve spent what I consider a lot with the RM in the past two years 

[westminstrel]

I think that sentence is for people who bought ALL the coins direct from the Royal Mint.

I bought ALL the 1oz and 2oz silvers, including duplicates of several that I liked.

I’m not a VIP customer and didn’t buy any gold.

[westminstrel]

Interestingly, I don’t know that I have an AM as I think the last time someone with that designation emailed me was for a Historics Range.

I need to contact Customer Service to find out who to contact. 😬

[westminstrel]

And guys… Are y’all seeing this???

 

[James32]

3 minutes ago, westminstrel said:

And guys… Are y’all seeing this???

 

Murmurings from his own mind, maybe?

[westminstrel]

Just now, James32 said:

Murmurings from his own mind, maybe?

Tbh I’d have thought the Tudor Beasts a more likely candidate for cancellation versus the British Monarchs. 😅

[BackyardBullion]

I have spoken to my account manager.

My total spend on the series so far has been £3375

I have been offered a 2 oz silver coin as a "gesture of goodwill"

 

[Upsidedown]

@BackyardBullion what is it with you and getting the most ridiculous of "goodwill gestures" 🙇‍♂️

[Darr3nG]

2 minutes ago, BackyardBullion said:

My total spend on the series so far has been £3375

I wonder what the cut-off was...?

[westminstrel]

3 minutes ago, BackyardBullion said:

I have spoken to my account manager.

My total spend on the series so far has been £3375

I have been offered a 2 oz silver coin as a "gesture of goodwill"

 

Oh my!!! Do I even bother contacting customer service!? 😐

[timsk]

I can't speak for anyone else obviously - but the reason I'm so outraged by this decision is that I accept the risk I'm taking when buying limited edition proof products at circa four times spot price - which the market may not value in future and decide they're only worth semi-numismatic bullion prices at best. On the flip side, if I'm lucky, the coin(s) will do well and the investment will be successful. That's the risk I'm happy to take. I was new to stacking/collecting when I joined the British Monarchs bandwagon and, whilst I was as aware then as I am now of the risks outlined above, it never occurred to me that it would be The Royal Mint themselves who'd pull the rug from under our feet and scupper my investment. I fear this series will lose money big time and the the bulk of the coins will end up on sites like Crawley Coins and Britannia Coin Co at discount prices. (No offense to either company - I've bought from both of them.)

I feel strongly that I/we invested in the RM by backing this series and the unwritten (sadly) deal is that they back us by sticking to their end of the bargain by producing the coins they said they would. We have a raw deal as it is in that we don't get to see any visuals in advance and invest in good faith, hoping and praying  that the designs will be good and well received when they come out. Additionally, we take the risk of not being able to buy the products on the launch day because this too is kept from us until the last minute. (I had a day surgery appointment in Oct' 2022 at the exact time of the launch of one of the coins and, by the time my wife got home from dropping me off at hospital with instructions of what to buy, the coin I wanted had sold out.)

In short, the RM show little short of complete contempt for their customers and have completely lost my respect and confidence; I won't be buying anything more from them ever again - 'I'm out'.

Grrrrrrrrrrrrrrrrrrrrrrr! 😡

 

Edited May 22 by timsk
4 x spot - not 10 x spot, lol!

[HonestMoneyGoldSilver]

1 minute ago, timsk said:

In short, the RM show little short of complete contempt for their customers and have completely lost my respect and confidence; I won't be buying anything more from them ever again

This is the general response RM gets from customers and they remain obstinate, oblivious to criticism

[westminstrel]

@timsk I’m sorry and I feel you. I’ve jumped through hoops since the first coin to get all the ones that I wanted, in the hope of having a lovely complete set in a few years.

I was just computing how much I spent over the past years on this range, and I want to kick myself because I also bought the “ugly coins” just the have the complete set.

Like many others, I went all in, and I was also looking forward to the BEST Monarchs which are (were!) yet to come. 🫤

[Shinus73]

1 hour ago, BackyardBullion said:

My account manager won't answer the phone to me it seems

Mine has their OOO on.

[paulmerton]

How many different coins actually came out in the end? I think I missed one of them but got it elsewhere.