Thursday, April 19, 2012

Coining it

There have been complaints recently that the Royal Mail is overdoing it with special stamp issues – once a money spinner, now a glut of very little value to collectors. I fear the Royal Mint may be doing the same with coins.

Yesterday a snippet in The Times Business Diary, which informed us that the Olympic Gold Medals – the ones awarded to the winners – will contain only 1.34 % gold, was followed by a full page advert for something called an Official Olympic UK £5, at the bargain price of £5 for £5, postage & packing free.

Never-to-be-repeated, not available in banks, you won’t find one in your change – why not? Can’t I spend it in Sainsbury’s?

No details were given of the metal(s) of which it is made.

Intrigued, I went straight to the Royal Mint’s website.

What a confusion of offers.

There is the London 2012 Olympic Brilliant Uncirculated £5 Coin, struck in cupro-nickel to a higher standard of minting than the coins found in your pocket,  but that costs £14.99 plus P & P

Or the 2012 UK Countdown to London 2012 Gold Proof £5, which will set you back £2,880.00 + P&P

The London 2012 Olympic, £5 for £5 as advertised, is only guaranteed to be of ‘A higher quality than the coins in your pocket.’

If you are feeling really flush you could buy the Queen's Diamond Jubilee 5oz Gold Coin, a snip at £9,500.00plus P&P There are more, but I am tired of this now. No game for an amateur.

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