2017 UK £1 Silver Piedfort Proof Coin - 85% reserved

[Kman]

The 2017 UK £1 Silver Piedfort Proof Coin is 85% reserved apparently 

For a mintage of 4500 that's an impressive amount of preorders

Is this going to be worth a buy to flip? 

http://www.royalmint.com/shop/u/uk17d1pf

[Bullionbilly]

Looks quite nice i think.

[MickB]

I was looking at getting one this Friday coming on payday but It'd probably be sold out by then

[sovereignsteve]

Personally think it's an ugly thing. Vastly overpriced: 2/3 of an oz of silver and a few coppers worth of gold plating.

[MikeSol]

I find it a bit crafty of the Royal Mint to be asking £20 more for a £1 Piedfort with a larger mintage than a £2 Piedfort with more silver content and a smaller mintage.

http://www.royalmint.com/shop/The_Shakespeare_Comedies_2016_UK_2_pound_Silver_Proof_Piedfort_Coin

[motorbikez]

@MikeSol That may be but there is a very large collector base for £1 coins (anyone collecting the silver £1 coins will no doubt have to have the new one) & not so much interest in the more recent £2 coin.

[MikeSol]

@motorbikez I agree that for a collector of the £1 Piedfort Silver Proof coin this is a must have, but with previous Piedfort Proof being mintages of around 3000 and the price being around £100 why does the mint need to raise the price of the coin and the mintage, other than trying to milk more money out of us.

[motorbikez]

You've hit the nail on the head Mike, the RM know the collectors will be out in force for the £1 coin &  as you say they are going to milk the collectors.

[Kman]

1 hour ago, motorbikez said:

@MikeSol That may be but there is a very large collector base for £1 coins (anyone collecting the silver £1 coins will no doubt have to have the new one) & not so much interest in the more recent £2 coin.

Do you think these will do well? 

[fehk2001]

2 hours ago, MickB said:

I was looking at getting one this Friday coming on payday but It'd probably be sold out by then

The next delivery is early may , if you order now they won't take money from you until dispatch 

[motorbikez]

@Kman That old chestnut LOL, personally as I don't collect the £1 coins I wouldn't like to say one way or the other, but if any £1 coin was going to be a flipper this being the 1st of the new coins I would say it would be the one to go for.

The problem being with the price being high to start with for all the guys obsessed with the spot price of silver its a risky one for the flippers.

[MickB]

Must be now sold out as I can't see it anymore on the Royal Mint website. Typical for me as it's always the wrong side of payday when I see a coin I like and it's soon sold out when I have funds

[creative]

What are peoples thoughts on the new £1 coin proof? I know its £75 and its downsides i.e. only .925 silver and practically no gold with a max mintage of 26,600. But something keeps making me think I should invest in one.

Is anyone planning or has picked one up already and what do you think?

[HelpingHands]

@creative see the thread.

 

Threads merged.

 

 

[creative]

What about the general proof coin or do people think it's montage is too high?

[Murph]

Given the first ever pound coin isn't worth that much more than others in proof and nowhere near RM prices I wouldn't hold out much hope for these given the price and mintage no. increases.  Even the 83 piedfort isn't worth as much as RM are asking for the new ones and that's after over 30 years.

If you do buy one and want a profit I'd sell it quickly while interest is still high.