My point is that in the limited circumstance that someone might hold some amount of cash for long term saving (not common but not exactly rare) then why wouldn't have this coin instead of a note? Apart from a small space saving can you explain why you wouldn't have the coin? Why would you accept paper or plastic when silver is available for the same cost?
These dollar for dollar coins seem to be popular, so I suggested to our marketing guys they should do one - a $10 for $10 1oz silver coin. They didn't go for it for some reason, not sure why, I'm sure it would sell as well as the RCM and BRM ones.
I was waiting for Perth Mint to follow the Royal Canadian Mint and the Royal Mint. I would certainly put a fair bit of cash into them that's for sure, I have spent about $500 on the Canadian so far and 200 on the British coins. I would have picked up more but by the time you factor in the exchange rate and the exchange fees it makes them less attractive. If I could replace the plastic fiat in my safe for some silver fiat in my safe at no extra cost then it is a no brainer. I have been a bit put off by the high denominations and the increasing number of new series on the market, I am no longer trying to get a full set of the Canadians and I haven't bothered trying to get the higher ones since I was ripped off by a Canadian eBayer. I was thinking about the 100 for 100 as Big Ben is probably the start of some great London landmarks. I know they have their drawbacks; you don't get much silver for your $, you can't earn any interest on them, shops won't accept them etc. but these are the same issues they have in the UK and Canada and it hasn't stopped them from being sell outs over there. Ask them again next week, I notice the latest brochure has over 9000 new sheep/goat offerings so if they don't take off they can always be remelted to make $20 for $20 coins.
I would buy $50 1oz ones, particularly at the moment when my savings account is paying done pitiable nothing in interest.
I've yet to buy any of the "X for X" coins, and not sure if I ever will.. But the Big Ben is a pretty cool design, anyway. If only it had been cheaper..
Australia will follow suit eventually Bron, but it might be more of a RAM thing. A $50 1oz maybe to start, with a $25 and $100 if it proves popular enough. Would have to get the Post Office on side like in the UK though.
Big Ben 2ozer now sold out took 10 days,you can now register your interest for the next one in the series.
Rumor has it that the US Mint will be coming out with a 1/100th oz silver coin with a denomination of $1,000,000 for a cost of 1 million US dollars. All who have praised and purchased any of the other overpriced X for X coins claiming that the fiat denominated value on the coin makes it a great buy, should jump on these new rumored 1/100th oz coins as well. Just think, you should always be able to get 1 million USD back for this coin. .
I thought the US were already contemplating a trillion $ coin LOL http://gawker.com/5973717/your-guid...um-coin-that-obama-can-mint-to-save-the-world
COPY of my earlier post. There will be no problem cashing the coin in if you so desire it is legal currency and most banks will accept it and ALL POST OFFICES will accept it, but why would you want to anyway, it is a collectors item and the 1st 2oz British coin released with an iconic landmark of the UK on it. You could buy 6 or 7 bullion coins in the UK for the same money inc VAT and immediately loose more than 20% of your money if you had to cash them in the next day. If you had to cash the 100 coin in the next day you would get 100 back. I think this coin will be a winner but even if it isn't I'm not concerned I'm a collector and it is a historic UK coin in my book and a 2ozer to boot and a 50k mintage is hardly massive worldwide.
There's plenty of 'legal tender' precious metal coins that banks won't touch. Same deal with post offices. The staff will look all confused, call their manager, then they'll direct you to try selling it elsewhere (ebay, pawn shop ... etc). [youtube]http://www.youtube.com/watch?v=9RSnd2B7F7g[/youtube] http://www.thestar.com/business/201...l_tender_and_spending_money_the_hard_way.html
I'm not interested in the slightest about selling it back to a bank, post office or anywhere else I bought to add to my 2oz collection. Whats your concern if you want one you can buy them on ebay This coin has been a resounding success for the Royal Mint http://www.ebay.co.uk/sch/i.html?_from=R40&_sacat=0&_nkw=big+ben+coin&LH_Complete=1&LH_Sold=1&rt=nc
^^ No comments were made regarding your reasons to purchase, or your desire to sell the coins back to the bank or post office. My comments were specifically directed to your claim that "There will be no problem cashing the coin in if you so desire it is legal currency and most banks will accept it and ALL POST OFFICES will accept it", which is clearly misguided.
Willrocks thanks for the Youtube link, I am surprised as I thought UK post office will readily accept these 20 or 100 coins. In my opinion, these coins are of good value if one can cash them out at the post office. But as collectible coins, paying 20 or 100 for bullion, which is many folds above spot and with over 50,000 mintage... we do have other choices out there.
