£100 coin free postage £100.00 @ royalmint
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£100 coin free postage £100.00 @ royalmint

107
Found 29th Dec 2015
The Royal Mint has produced its first £100 coin which will have an image of the Houses of Parliament's clocktower on it. The coin, which can be used as legal tender, is made of two ounces of fine silver. Only 50,000 will be produced. The coins can be bought from the Royal Mint's website for £100.

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107 Comments

Original Poster

Also 4% quidco which tracks pretty fast so coin really costs £96

Site wont work for me:(

Original Poster

Yes because there is a massive demand for them..just been speaking with the mint..They never experienced traffic like this

£100 for £20 of silver? They're havin' a larf!

It is legal tender...worth buying just to see how many places refuse to accept it

Comment

oddballjamie

£100 for £20 of silver? They're havin' a larf!



It has £100 legal tender value...

oddballjamie

£100 for £20 of silver? They're havin' a larf!



I sort of see where you're going. Isn't the entire idea of money that it's a representation of the actual value, rather than the value itself?

A £20 note is made of, what? Less than a pennies worth of material. .

None the less, while a collectable I'd love to see someone try and spend it

Would 99p Stores/Poundland except this?
Edited by: "veedubjai" 29th Dec 2015

£96, for legal tender (I take it that it is as it's from the royal mint) that you can either trade in for £100 or keep if you think it's an investment.

I'm not planning on buying but voted hot, is there somewhere that you can get this cheaper?


Edited by: "sb1876" 29th Dec 2015

A £100 coin?

Obviously the Government know more about inflation than they are letting on

veedubjai

Would Poundland except this?


Yeah they should. You'll get 100 items.

I had the fiver coin but no shops would touch it, cant imagine what a 100 quid coin is like

cuppachaa

Also 4% quidco which tracks pretty fast so coin really costs £96



Please note, the Royal Mint is legally unable to provide cashback on coins who’s selling price is the same as it’s denomination, e.g. £5 coin sold for £5 or 50p coin sold for 50p.
Cashback will not be paid on Olympic products


Not sure you will get cash back for this.

what do i care im a trillionaire (_;) (in Zimbabwe dollars that is)

Before you buy loads for £96 after cashback:

Legal tender has a very narrow and technical meaning in the settlement of … Legal tender has a very narrow and technical meaning in the settlement of debts. It means that a debtor cannot successfully be sued for non-payment if he pays into court in legal tender. It does not mean that any ordinary transaction has to take place in legal tender or only within the amount denominated by the legislation. Both parties are free to agree to accept any form of payment whether legal tender or otherwise according to their wishes. In order to comply with the very strict rules governing an actual legal tender it is necessary, for example, actually to offer the exact amount due because no change can be demanded.Please note that whilst the coins are legal tender, banks are not obliged to accept the coins. Policies on accepting coins do vary, therefore it is advisable to check with your bank in advance.


Edited by: "lhurren" 29th Dec 2015

Original Poster

Obviously it's not for everyone but people who collect coins will buy this. I bought a 2oz zues silver coin from perthmint for £90 with a legal tender of 2 dollars this year now there selling for £600-£1000

TeamMCS

I sort of see where you're going. Isn't the entire idea of money that … I sort of see where you're going. Isn't the entire idea of money that it's a representation of the actual value, rather than the value itself?A £20 note is made of, what? Less than a pennies worth of material. .None the less, while a collectable I'd love to see someone try and spend it



Difference being generally people spend £20 notes.

These coins are made with the hope they never enter circulation, so the government is effectively selling 2 ounces of 'collectable' silver for £100.

I'd rather buy gold coins.

Original Poster

MRS_AWESOME

Please note, the Royal Mint is legally unable to provide cashback on … Please note, the Royal Mint is legally unable to provide cashback on coins who’s selling price is the same as it’s denomination, e.g. £5 coin sold for £5 or 50p coin sold for 50p.Cashback will not be paid on Olympic productsNot sure you will get cash back for this.

this classes as silver as it's made from pure silver..I already received my cashback on the £20 silver coins

The key term here is "Legal currency".

So whilst this coin is legal tender I expect it is not legal currency meaning that it does not HAVE to be accepted.

E.g. 1p and 2p coins are actually only legal currency up to a value of 20p.

ZEbbEDY

I had the fiver coin but no shops would touch it, cant imagine what a 100 … I had the fiver coin but no shops would touch it, cant imagine what a 100 quid coin is like



If you were desperate to spend it couldn't you just pay it in at your bank then take the £100 out? Easy.

are these accepted at high Street banks if you want to cash them in?

Thanks OP ordered. Will make a nice gift

Original Poster

tbh these coins are for collecting and future investment .No one would buy a coin from the Royal mint to spend in the shops that's just plain stupid.

Original Poster

SaturnSymbolism2012

Thanks OP ordered. Will make a nice gift

wow I can't get past the checkout without crashing..royalmint twitter is going crazy with complaints over this.

Hope the don't go OOS like this deal and people are left disappointed.
http://www.hotukdeals.com/deals/snowman-snowdog-50p-coin-2-25-iom-post-office-2086921?page=6#post23894241
Order form states subject to availability.
Edited by: "MRS_AWESOME" 29th Dec 2015

I bought one of the £20 for £20 silver coins a couple of years back.

I fell on hard times and tried to use it... Cue a lot of people laughing at me.

So I went to the Post Office (there was a queue at the bank) they said nope, so I went to Nationwide who said they don't accept them (they'd never even heard of them.

Next I went to my bank the HSBC who refused to accept it as they knew nothing about it, I then went to Barclays with whom I have a savings account and they accepted it but I had to pay it in and then draw money out, they wouldn't just exchange it.

If you're serious about collecting then go for it but otherwise I'd steer clear personally as as others have already mentioned, 2oz of silver is about £20 and that's if you are near a bullion office otherwise you'll likely be looking at about £10 at a jewellers BUT if you use Ebay you may be able to make a small profit... Until they send you an invoice for commission

KM

While the coin may be "legal tender" that isn't going to help you convert it back into anything you want.
It simply means that (per Royal Mint) "Legal tender has a very narrow and technical meaning in the settlement of debts. It means that a debtor cannot successfully be sued for non-payment if he pays into court in legal tender."
So you could save it up for the day when you are sued and head to Court to pay off your £100+ debt (as there is no requirement to give change) but not much use otherwise?

cuppachaa

wow I can't get past the checkout without crashing..royalmint twitter is … wow I can't get past the checkout without crashing..royalmint twitter is going crazy with complaints over this.



I had to keep refreshing the page, got a bit further making an account, then had to refresh several times, 20 mins later and finally got to the end.
Keep pressing F5

ZEbbEDY

I had the fiver coin but no shops would touch it, cant imagine what a 100 … I had the fiver coin but no shops would touch it, cant imagine what a 100 quid coin is like


As the Royal Mint put it...
"A note on £5 (crown):
"We receive a lot of enquiries about the £5 (crown) coin's legal tender status. Each crown issue is authorised by Royal Proclamation in accordance with the requirements laid down by the Coinage Act 1971. This means that in common with other coins in general circulation, a crown has legal tender status.
"Most people would not wish to exchange a crown piece, but in recognition of the fact that some people may wish to do so, some banks will allow crowns to be deposited into bank accounts. However, please note that whilst the coins are legal tender, banks are not obliged to accept the coins. Policies on accepting crowns do vary, therefore it is advisable to check with your bank in advance.
"Alternatively, crowns can be exchanged for goods or services at Main Post Office branches throughout the UK. For further assistance please contact the Post Office Helpdesk on 08457 223344."
webcache.googleusercontent.com/search?q=cache:J9c3E9ffCwwJ:royalmint.com/abo…=uk


Edited by: "mk-donald" 29th Dec 2015

will the banks accept this and pay £100 in the future if you want to exchange?

Possibly not a Hot Deal, but almost certainly these will increase in value. 50,000 is a low mintage. Already, the £20 coins generally sell for more than £25 on eBay. I could be wrong, but I wouldn't be surprised to see these selling for £120+ in 2 years time - that's a far better return than you can get on any secure investment elsewhere.

Thanks, bought 10 :-)

can i spend it at tesco?

Website is totally crashed! Meh!

Original Poster

EstorilBlue

Website is totally crashed! Meh!

yeah been speaking with the mint via twitter and website crashed and all phone lines are off due to demand...This coin will make a profit for the first people selling on ebay..

Just got one online

Not actually the first £100 coin, they've been making them since the 80s but usually in gold. This may be the first time they've actually sold them for £100 though

http://images.pcgs.com/CoinFacts/08782696_800x600.jpg
Edited by: "rivellangel" 29th Dec 2015

Must be good if the Royal Mail site crashes due to high demand

Hope these are sent by special delivery.

Otherwise, it will be a nice £100 tip in the back pocket of your local postman
Edited by: "cb-uk" 29th Dec 2015

It said free recorded delivery, I've never ordered from them before but this concerns me (even though it said "in stock"):

"Thank you for ordering from the Royal Mint. Your order is subject to availability."
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