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BEWARE THE £100 SOLID SILVER BIG BEN COIN ! Read this !
BEWARE THE £100 SOLID SILVER BIG BEN COIN ! Read this !
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Replies: 190
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Donny - Whatever the motivation of Chard's article, it is difficult to argue with the facts as they are stated. Mind you, you are correct that they would love customers who'll pay £20 for £7 worth of silver.
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i understand that blackbarn
but you can buy a piece of paper for £20 the paper content of which costs less than 1p it is worth £20 because it says so on the tin how many jack nicklaus fivers ever got spent ? banks and mints make these coins/ notes all the time as a means of making money, whilst some lose value some will gain. and face value is only eroded by inflation some bullion coins are sold at as little as 5% over their "worth" , a 1oz britannia has a nominal value of £2 for legal tender purposes, but you cannot buy them for that there is no disputing if you melt down your £20 coin it will lose 2/3 of its value |
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You've virtually summed up my view in your bullion para - In almost every collectible segment, "limited editions" are, or turn out to be, very poor value.
Bullion coins, with a very low mark up over intrinsic value, nearly always turn out to be better investments, particularly those with inherent and long standing desirability, such as Sovereigns, Krugers and Britannias. Anyhow each to their own  |
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...and you can buy both, either, or neither
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Thanks to all those who replied to my thread
What I want to know is this - HAS ANYONE ELSE ON HERE BOUGHT THE £100 COIN DIRECT FROM THE ROYAL MINT AND SINCE SOLD IT ON EBAY FOR A GOOD PROFIT LIKE I DID ? When will the bubble burst on these so called £100 COINS ? THE ADVICE IS SIMPLE --- GET RID NOW !!!! |
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I missed out on it as sold so fast.
Could of made an easy £60. Going to keep the first issue £20 but sell off the 2014 ones. |
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Eb@y
2015 UK ROYAL MINT FIFTY PENCE 50p - Battle of Britain 75th Anniversary BUNC He sold a few for £14 each, 2009 50p COIN Olympic Games Blue Peter Royal Mint Pack He sold a few of these ONE coin packs for £12.50 each, Plenty of £2 coins Selling for £5-20 Madness!!. |
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Even now ,with all the information available ,punters are buying this £100 coin at ridiculous prices on ebay . Average selling price at the moment on the ebay site is c £160 . The coins real value £22
What is going on ? |
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they want it as sold as first issue £100 coin.
Im in two minds over the first issue £20 will they be worth anything as first issued, who will no. |
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Any opinions on first issue dik???
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Money Tree- I have a friend who is a coin dealer . When anyone brings in the silver £20 coin he just offers them its scrap value which is about £5 . That is all they are worth !
The same with the £100 coin . When the frenzy dies down and folk try to sell them they will soon realize the actual value is only just over £20 in real terms . On ebay now , the price of the £100 coin has dropped on average from £160/£170 to £140 . It will keep on dropping ! |
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So the people who collect the first issues have them now.
Will keep one for maple as part of her collection. |
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£100 coin is worth £100......sells for £140, probably settle down around £120
if they continue with new coin next year, and year after then long term its value will increase above £120 £20 coin is worth £20......sells for 28-30 again going forward its likely to sell for around £30 not sure why it wouldnt be the case, fair dos you cant spend them in tesco but hey ho coin dealers offering scrap value , are cashing them in on ebay for whatever they are worth |
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If you buy any modern coin its a mugs game unless its just for your collection
About 15 years ago silver was traded @ £2.75 a troy ounce but threats of recession and global unrest forced it to peak around £ 26 per ounce just a couple of years ago, today its about £12 per ounce. Buying siver or gold at present day prices is not a good move because as the world moves out of recession dealers will sell and put their money back into more profitable ventures and gold and silver prices will collapse. Anyone who is old enough will remember what happened in the late seventies when russia invaded Afghanistan and the threat of instability forced silver up to almost £18 per troy ounce and gold brushed a thousand dollars per troy ounce. The london metal dealers had queue's of people selling their grandads cigarette cases and watch chains cashing in on what was worth ten times less a few weeks earlier. I am no expert but would expect gold and silver to halve in the coming few years and then it would make sense to buy and then pray for the next war or recession. |
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It's a roller coaster ride with previous metals.
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Donny Osmond -sorry mate . If you think the new £100 coin is worth £100 then I would advise to contact the Royal Mint by email straightaway . Thats what I did . Their reply about a so called LEGAL TENDER coin will amaze you - it aint worth £100 !
And you cant spend it or pay it into ANY account ! Check this for yourself -its easy to do ! Moondan - good posting . I remember those mad days of bullion buying . When the Bunker Hunt bubble burst overnight ,a couple of friends I knew that had been buying scrap silver lost nearly £35,000 - OVERNIGHT WHEN THE SILVER PRICE TANKED! They just escaped bankruptcy by loaning cash off good friends . They still talk about it ! |
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DIK DASTARDLY.
If memory serves me Bunker Hunt owned the majority of silver mines in the states but cannot remember why the collapse came about other than silver was losing its usefulness in the world of electronics etc,etc. I do remember he had some great horses in training with Noel Mureless and other trainers of that class in the 60s and 70s. I have had a bit to do with the buying and selling of scrap through the Bric a brac and antiques markets in a small way and since the late 60s, the boom and bust highs and lows have come about on a very regular basis but unfortunately my gambling escapades on horses never allowed me to have enough riches to make a killing although I knew when it was wise to buy and hold onto for a few years. Boom and Bust are here to stay no matter what they say. Nijinsky may have been in his ownership but perhaps old age is taking its toll and playing tricks. |
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Exactly moon. Highs and lows will all ways occur.
I regretted not selling off all my silver when was over£20 ounce. But I'm in it long term. And by the next boom I'll have 20 times more to sell!! Had some right bargains the last few weeks and they were off ebay where people usually pay over the odds. |
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Money tree,
Best of luck to you, having money in the bank is a certain loss each and every year. Its avery difficult situation at present what with europe flatlining and Greece questionable and the Arab countries destabalised and Russia joining the party of discontent, makes me think that it could be a few years before silver and gold will return to its true value but things can change very quickly as the world finds a better decade and the safe havens of gold and silver are not required. On the other hand it only takes Russia to think it has to make a point and use troops on a larger scale and that alone could send silver back up to £25 per ounce in less than a week. Anyway I am sure you get my drift and understand the score. |
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Yes the volatile world of which we have little control !!
I think it will be a while before the metals rise again and personally think a bigger dip will occur first. If so I'll be piling in. |
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Moondan - one of the infamous Bunker Hunts died quite recently - bankrupt of course .
The Bunker Hunt brothers had a mad idea in the early 1980s . It was simple . They would try and buy all the silver there was in the world by offering a higher and higher price - thus the bubble formed . But they underestimated just how much silver there actually was in the world to buy . So quite simply they just ran out of money after spending hundreds of millions of pounds . When they stopped buying the price literally collapsed overnight . Had they manged to buy the the worlds silver then they would have been able to control the price of it and thus make huge profits . Its sounds like a James Bond plot but it actually happened ! |
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Lol how much did they have?
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Lol just googled it.
3 million kilos. Tidy. |
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i am perfectly well aware of what legal tender means
a £100 coin has same legal status as 10 X £10 notes or 2 x £50 notes i am perfectly happy to deal in scottish notes which are not legal tender, not even in scotland. some lovely £100 notes about, try getting a crisp new one and see what they sell for ! |
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Donny Osmond .
You are missing the point here. You can SPEND £10 notes and £50 notes -and pay them into a bank account . BUT YOU CANNOT SPEND THE £100 COIN OR PAY IT INTO ANY BANK /BUILDING SOCIETY/POST OFFICE ACCOUNT . So when you have one of them ,what can you do with it ? Its so called Legal Tender Status means virtually nothing ! I think you need to email the Royal Mint so that you get the information direct,rather than from me . Reference the various Scottish Banknotes . Yes you can PAY THEM INTO YOUR BANK ACCOUNT AS NORMAL - I did so last week . As an antique dealer I am very used to taking Scottish banknotes . I love the £100 Red ones ! Will I accept £100 Scottish Banknote for goods provided ----YES Will I accept a £100 Big Ben Legal Tender silver coin ? -NO Thats it in a nutshell . What is there not to understand ? |
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that is not the point it is something you have pulled out to benefit silver traders over the certainty of currency
try spending a £50 note btw will i accept a £100 coin for £100 of goods, yes of course i will, so will loads of others if you turn it away you are a fool |
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I knew it...
DIK DASTARDLY is a 94 year old Cocaine seller... Lovejoy he is not....  |
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then wot will you do with it donny? btw how is marie?
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id flog it on ebay for 150 quid
if i ever got stuck with it( highly unlikely) id buy £100 worth of first class stamps at the post office marie lol |
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all scotish 100s are " red" these days, and 50 s are " green "
non are legal tender |
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so you can spend them at post office?
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indeed you can
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No, they are not 'legal tender', although the phrase 'legal tender' has a very precise definition.
They are acceptable as payment IF both parties agree. |
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DIK DASTARDLY 11 Feb 15 17:24
Donny Osmond . You are missing the point here. You can SPEND £10 notes and £50 notes -and pay them into a bank account . BUT YOU CANNOT SPEND THE £100 COIN OR PAY IT INTO ANY BANK /BUILDING SOCIETY/POST OFFICE ACCOUNT . Dik says not a post office? |
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i can repeat as many times as you wish
or you can ask manager at post office |
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i bleeve you donny...so the status looks quite misinforminal
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DONNY OSMOND - you seem to be a guy who refuses to accept facts as they are !
The following is part of an official email sent to me direct from the ROYAL MINT /BANK OF ENGLAND on 19th Jan Please read it and if you still dont believe what you are reading then simply email--Customer.Service@royalmint.com Their email says THE NEW £100 silver coin has been approved by the Privy Council but it has been designed wholly as a collectable coin or gift NOT as a circulating coin to be used in daily life -never intended of their value being realised by spending in shops or depositing in a Bank In recognition of the fact ,that while it is legal tender ,the new £100 coin CANNOT BE DEPOSITED IN BANKS OR BUILDING SOCIETIES ,OR USED IN POST OFFICES OR SHOPS IN EXCHANGE FOR CASH OR GOODS. IT CAN ONLY BE USED IN THE SETTLEMENT OF DEBTS IN A COURT IF BOTH PARTIES AGREE ( WHICH THEY OBVIOUSLY WILL NOT ) SO DONNY OLD BOY - THEY ARE THE FACTS ! THE COINS CANNOT BE SPENT I REPEAT -THE COINS CANNOT BE SPENT IS THAT CLEAR ENOUGH FOR YOU ? |
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youve made up part of that
how sad |
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It would seem people have tried but struggled to spend them.
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Extreme QE
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