Royal Mint changing mintages??? Somme 1oz Proof coin

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richo

New Member
So, this coin was advertised as having just 1916 copies to commemorate the 100 year anniversary. Was showing as 90% sold this morning, then suddenly ten minutes later they double the mintage to 4000. This feels borderline illegal.

Anybody else notice this? Is it allowed. Has it occurred before?

Can't say I am happy at this.


richo
 
It appears 4,000 was always the intended maximum mintage.
With the usual caveat of 1,916 in "this particular presentation".

They now, as you spotted, have increased that to 4,000 in that presentation, with a maximum mintage of 6,000 now (see specification tab on RM site).

You really shouldn't be surprised at anything the Royal Mint do now. Cash is king to them.
Collectors are an unfortunate inconvenience to them, always moaning about sky high premiums, mintages, milk spots, trying to cash in their 100-for100, etc.

They continue to hold the cocky view that collectors will continue to put up with everything, anyway, and keep buying.
And in the majority they are right. sadly.

You notice, also, that even after increasing the mintage on the Somme there is no consideration of a small percentage from each sale going to the Royal British Legion, for veterans, for example?
No, once they get your money in their grubby fists they won't let it go.
 
I spoke to them, but don't really believe what they said. Apparently, they say, it wasn't a commercial decision and it was an 'internal error'. This can be proved by the fact the documentation already says 4,000. Hmm, Except 4,000 was always the original mintage, it was the presentation and overall mintage that have increased.

Also, now it's 6,000 overall, they will have to do some messing about with the certificates for the additinal coins appearing in the larger multi coin sets. It seems to me just to be too big a coincidence that just as a coin nearly sells out in a few days, there is a 'mistake' with the advertised mintage and actually it's twice as high.

Whatever the case, I will think twice before ordering again.
 
Here is the original press release;

The only official UK coin available individually to commemorate the anniversary of the battle;

- A Limited Edition Presentation of just 1,916
- Struck in 925 sterling silver
- Produced in collaboration with Imperial War Museums
- Product code: UK16BSSP

Now it's 4,000 in the presentation and 6,000 overall.
 
For what it's worth, they've also stopped minting the 1/4 oz gold Queen's Beasts coin, after stating that it would have an unlimited mintage.

I, for one, will not be buying the rest in the series because, the way I see it, this is a cheap ploy enabling the Royal Mint to artificially increase the premiums of subsequent coins in the series.

Though I am a collector, I'm also smart about my money, and I won't be throwing it away just to satisfy my internal cravings. There are lots of other coins and series out there that I'd rather spend my hard-earned money on.

Rant over :)
 
I cancelled my order today on a point of principle, even though I really liked the coin. Regardless of whether it was deliberate or a mistake, as I said to the agent, I ordered based on the mintage information provided at the time, which subsequently was proved inaccurate, that is not reasonable.
 
richo said:
I cancelled my order today on a point of principle, even though I really liked the coin. Regardless of whether it was deliberate or a mistake, as I said to the agent, I ordered based on the mintage information provided at the time, which subsequently was proved inaccurate, that is not reasonable.
Click to expand...

It's great you didn't just buckle under collector pressure. Very fine decision imho :)
 
richo said:
So, this coin was advertised as having just 1916 copies to commemorate the 100 year anniversary. Was showing as 90% sold this morning, then suddenly ten minutes later they double the mintage to 4000. This feels borderline illegal.

Anybody else notice this? Is it allowed. Has it occurred before?

Can't say I am happy at this.


richo
Click to expand...

The Royal Mint caused somewhat of a stir in 2014 when they initially advertised that there would be only 650 of the 2014 5 oz Silver Proof Britannia, and then changed the mintage to 1250. After that fiasco they once again made another "mistake" in 2015 year with The Definitive 2015 United Kingdom 2 Silver Piedfort Coin mintage. Originally their website stated 1000, and a few days later they increased the mintage to 2000. It is easier to believe that they were "playing" with the mintage as compared to the marketing department overseer being that inept
 
And don't forget how they will also set a household limit, allow you to order it, then a month later send you an email to tell you they are delighted to inform you that they are reducing it further because of demand, as they did with the Puddleduck coin. Or how they will sell you a 20 for 20 or 50 for 50 or 100 for 100 coin under the premise that they are actually worth face value, then announce that banks will no longer cash them in. Now they are increasing mintages so they can cash in further on hot selling coins. It really is a shame because they are producing some very nice coins, but I'm done with these clowns because I simply can't trust anything they're doing.
 
The Royal Mint strategy of publishing false mintages then blaming it on "a mistake" (notice the initial number is always lower, not higher) has been going on for at least a couple of years.

Here's a screen shot of the published mintage of the 2014 Britannia take around the time of its release:

MQ7zelk.jpg


Now go look at the current page on their website under the specifications tab:
http://www.royalmint.com/shop/The_Britannia_2014_Five_Ounce_Silver_Proof_Coin




______
 
And another strange case is that UK commemorative coins are in real not legal tender coins.

For example you spend 100 GBP for a 100 GBP silver coin http://www.royalmint.com/shop/Trafalgar_Square_2016_UK_100_pound_Fine_Silver_Coin.
On the coin's site it is mentioned that "All commemorative and circulating coins made by The Royal Mint are legal tender. However, only circulating coins are designed to be spent".

And here http://www.royalmint.com/aboutus/policies-and-guidelines/legal-tender-guidelines:
"We receive a lot of enquiries about our popular silver commemorative coins (including 5 crowns, 20, 50 and 100 coins) and their legal tender status. Each issue is authorised by Royal Proclamation in accordance with the requirements laid down by the Coinage Act 1971. This means that in common with coins in general circulation these coins have legal tender status.
Please note that whilst the coins are legal tender, they are not designed for general circulation, so banks and shops will not accept the coins. The Royal Mint cannot accept returns of such coins outside of the 14 days return policy."

To sum up, you pay 100 GPB for 2oz silver but you are not allowed to spend this coin and you only have 2 weeks time to return the coin. It seems to me that the coin's face value is not 100 GBP worth anymore, only the silver value and/or collectors' value. Better buy bullion at market price instead spending 100 GBP for 2oz silver "coin" which you can't use.

Here is an article about the misleading information of Royal Mint http://www.thisismoney.co.uk/money/...yal-Mint-mis-leading-special-coin-buyers.html
 
and a final interesting thing I noticed. Just as the coin was at 90% sold out and the mintage information 'error' occurred, the availability moved to 'awaiting stock' and not ready until end of July. This doesn't exactly tally with what they told me which was it was just a typo mistake on the site.

2e44585ba66cf6048703e817c796dc5f_zpssoia2yki.jpg
 
tHE 2016 50 for 50 with the 2014 proof britannia design revisited was another hit for them. they were selling briskly, selling well in the after market etc. Then what did they do when they were on the verge of selling out even after they imposed purchase limits by account? They doubled the mintage. I was very happy we had already flipped the hoard we'd purchased before they imposed a limit of 10 but I thought that was extremely shady of them to double the mintage.
 
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