Royal Mint 50p and Proof Coins

[Urlcool]

Hello,

Just wondering, do people who buy from the Royal Mint or dealers get a trade price for the items they sell? I just noticed that proof coins like sovereigns seem to cost so much more, but you can get them second-hand a lot cheaper, even from bullion dealers. Do people buy these coins at these prices then change their minds?

I noticed with the 50p coins as well. The Royal Mint charges around £70-80 for a silver proof one, but people are selling them on eBay for £30-£40.

Just curious to see if collectors get a special discounted price.

Regards,
Urlcool

[BackyardBullion]

Ha, no discounted price. Its just the Royal Mint charges too much!

Some coins go higher than mint issue price, many though are very cheap in a few years time. 

[TeaTime]

No discounts i am aware of...... The simple answer is that there is a perceived market value for the majority of RM proof coins - and it is a lot less than the RM charge. I can only assume that buyers of proofs from the Mint are either woefully ignorant of this fact, are speculators who picked the wrong design or are collectors willing to pay for a particular design who then get bored of it.

I sometimes wonder how many proof coins you see for sale that are the result of collections being sold off following a death. It seems the most logical explanation 🥺

[MBTPSilver]

Dealers get a small discount as trade price, but it is very slightly below RRP, to the point that with delivery on some of the smaller items it's basically break even, or a loss if the customer returns due to a defect. The bigger items have a better margin but don't sell until you discount and make a loss so you can't win either way 😅

When they buy them back they'll pay virtually the same as bullion, maybe a touch higher, and then sell them on at a more reasonable premium.

[PapaLazarou]

Silver proof 50p coins bought directly from the RM that swiftly attain a premium are few and far between.

The likes of the silver proof Kew is a false market created by association with media bollox and bluster about "low mintages" of the base metal version.

The rarest silver decimal coins are not generally known and, as such, are sometimes available on feebay and in auctions at bargain prices. 

The Benjamin Britten 50p (mintage 717) is widely believed by collectors to be the rarest silver proof ten bob bit. Wrong. It is not even in the top four rarest silver commemorative 50p. coins.

Further info available if anyone is interested.

Edited July 31 by PapaLazarou

[TeaTime]

I must confess to buying every individual silver BU 1p released by the mint in the expectation of future demand. Maybe one of my great grandchildren will see the benefit... 😁