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£100,000 Sovereign Anyone?


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I think the Royal Mint is facing some very big challenges over the next few years - at least that's what a couple of members of RM staff told me the other month when I was lucky enough to be treated to a day at Llantrisant for "The Royal Mint Experience" tour.....

The huge rise in the use of debit and credit cards, especially the meteoric increase in the number of contactless payments in recent years, has seen a correspondingly big fall in the amount of coins required in our financial system. Thus the RM sees diversifying more into activities and markets such as producing coinage for overseas governments and increasing the number of collectable coins that will sell for high premiums to the numismatic market as key to maintaining sufficient revenue streams and ultimately ensuring its continued survival - the Royal Mint is after all a company, albeit one that is owned by HM Treasury. 

Having seen the size of the operation at Llantrisant at first hand, I was staggered at just how big it is - and therefore how just much it must cost to keep the machines turning and to pay the staff wages.

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Agree with Fastnick about the challenges.  However sad in the short term for the RM workers, I do think that the RM operations should be scaled back significantly if the demand for coins goes down, rather than for it to keep producing its current, shameless, 'products'.

In answer to the original question - I suspect that only a sovereign completist collector would even countenance forking out such a sum, and it's only because the coin fills a very tricky gap in their collection.  100 grand buys a lot of pleasure elsewhere 😋

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10 hours ago, AuricGoldfinger said:

That’s a lot of money, would anyone here pay it if they had the spare cash?

https://www.independent.co.uk/news/uk/home-news/sovereign-coin-1-value-royal-mint-for-sale-a8928191.html

I'll buy it and sell it on the forum for £250 😆 Do I get any expression of interest?

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1 hour ago, Stuntman said:

100 grand buys a lot of pleasure elsewhere 😋

 

57 minutes ago, AuricGoldfinger said:

and a lot of GOLD elsewhere!

I'd opt for "pleasure" every time :)

(and yes, I really am that shallow ;))

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On 25/05/2019 at 08:50, AuricGoldfinger said:

So they are basically trying to dictate the market price. 

It says on the link @Wolves shared that "The highest quality 1819 Sovereign known to exist achieved a price of £186,000"

Do they say what quality RM are selling? has to be lower but still, i wouldn't call it dictating the market if its almost half of a previous one sold for.

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