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Is Royal Mints legal tender promise worthless?


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I've got 3x(ww1 £20's) and 3x(longest reign £20's with

marks). I'm still trying to get my longest reign coins

exchanged for the equivalent non marked ones.

whilst I hope to be keeping mine for a little longer yet,

people do value the insurance that it can at least be

traded in for face value. it reminds me of coins with

legal tender status in places like guernsey, that can't

be traded at face value in much of the uk. for a coin

minted legally by the royal mint and satisfies all the

requirements for legal tender, there should be no

excuse. 

 

what's then to stop them from telling me that the new

legal tender hexagonal £1's cannot be freely traded.

 

HH

 

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I've been holding this story back due it involving my Nan but I feel it needs to be heard.

So my Nan always takes an interest in the coins I buy as I always have my parcels delivered to her.

Anyway she always liked the idea of the £20 for £20 coins and also the £100 for £100 big ben coin, I always explained to her about the inflation/deflation hedge so I feel I'm slightly to blame here. So she gets all the royal mint letters sent through her door so sees all the coins the RM are selling, one week I go round there and she tells me she's bought 10 Buckingham palace £100 coins, she phoned up and ordered them, now my Nan's in her 80's and just by her voice you can tell she's an old lady, but still they didn't explain the legal tender jargon, they even had the ordasity to charge her postage.

When she told me I wasn't best pleased but went along with it because she was happy and anyway she can always convert them back to fiat.

Now my Nan doesn't have a lot of money so this really gets to me and actually makes me quite sad, especially now that the mint are writing to the banks instructing them not to except them, I don't know what to do now.

My family has spent a lot of money in the royal mint spanning back three generations, it sounds maybe over the top but I feel betrayed.

In an earlier post I said I was done with the royal mint and truly I am, except for the second hand market buying from you likes of you fine people.

Ok sorry about the rant but this had to be told.

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The Royal Mint have betrayed everyone who bought them, garthy.

The money your nan has spent is money she needs. Buying the coins, she, just like myself thought it's one way of saving for a rainy day.

I'm still working so I won't miss the money as much as your nan who probably, like my parents, rely on their pension as the main income.

The true face of the Royal Mint is now coming out.

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I've come to this party a little late. 

I only have one £20 coin so I'm not as upset as some of you, but cross nonetheless.

What bothers me is this:

Who made all that profit? £80 on a '£100' coin?

Do you think the drop in the price of silver has had an impact? I mean, if everyone cashed in their coins one day, the treasury would be stuck with coins worth a fiver that they had just redeemed for £20 etc.

Sounds like a tale from America where the bank can't meet its promises/commitments.

Technically, alcohol is a solution..

'It [socialism] poses a growing threat, however unintentional, to the freedom of this country, for there is no freedom where the State totally controls the economy. Personal freedom and economic freedom are indivisible. You can’t have one without the other. You can’t lose one without losing the other.'

"There is no such thing as public money, there is only taxpayers' money"

Let not England forget her precedence of teaching nations how to live.

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Until someone settles a court debt with these, I won't believe that is true.

Technically, alcohol is a solution..

'It [socialism] poses a growing threat, however unintentional, to the freedom of this country, for there is no freedom where the State totally controls the economy. Personal freedom and economic freedom are indivisible. You can’t have one without the other. You can’t lose one without losing the other.'

"There is no such thing as public money, there is only taxpayers' money"

Let not England forget her precedence of teaching nations how to live.

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Just now, Scuzzle said:

All they are now is a speeding fine token, if you get caught doing 36 in a 30 it's 3 points and a £100 fine and that's really all these coins are now, just a speeding fine token.

Very True Scuzzle

What the Mint has done is, bang out of order, on every level

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2 hours ago, HelpingHands said:

Next you're going to tell me that the Somali pirates won't accept my elephant coins for kidnap insurance.

I'll ask @Cointreau to write to them.

 

Yes indeed. I take pride in being the original Royal Mint troll on this forum. I will send them some more hate mail tomorrow. I will not hold back.

As for Numistacker. Respect!

 

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2 hours ago, Scuzzle said:

All they are now is a speeding fine token, if you get caught doing 36 in a 30 it's 3 points and a £100 fine and that's really all these coins are now, just a speeding fine token.

Speeding fines sadly are "fixed penalties", unless you take it to court which would be foolish. Im being pedantic but there not even any use for that sadly :(

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Just noticed the reviews on the £50 Britannia coin all have the date of the 11th. January 2016.

Possibly a case of; "Quick, Rush some positive reviews out, the general public are onto us!"

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1 hour ago, Euromir said:

Speeding fines sadly are "fixed penalties", unless you take it to court which would be foolish. Im being pedantic but there not even any use for that sadly :(

And I thought the "fixed penalty" was £100 exactly.

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Sold as collectables my arse. How many would they have sold if they were just rounds with no face value and exactly the same design and price point ? 

They knew exactly what they were doing. Absolute rip off

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I like the way they're telling US why we bought them.

I think if they ask most why they bought them the answer would be....Yes as a keep sake but also because we have the option to cash them in if need be.

Let's face it, they wouldn't have sold 2% of what they've sold if it wasn't for the face value.

It's was just a marketing strategy to deceive the public, well they can all pat each other on the back now, it worked. Criminal!

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7 hours ago, HelpingHands said:

Mapleleafcoins seems very confident that the Canandan equivalents can be banked.

So from that video, it wouldn't be hard for the Banks to trade back the coins to get the cash, meaning the coins still have not gone into circulation and the mint can resell hem.

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