£5 Olympic coin legal tender for £5 free postage from the royal mint
1234°Expired

£5 Olympic coin legal tender for £5 free postage from the royal mint

369
Found 18th Apr 2012
I prefer coins to notes so this is a good deal for me. spend it, save it. Do whatever you want as its money. Everyone prefers being given a nice shiny £5 coin instead of a smelly old five pound note. The coin may go up in value on eBay .If not spend it and you have lost nothing. There are 5 different coins you can get (including jubilee). click on view full basket and use use code HD2G for free postage which is taken off just before you pay.

369 Comments

not really a deal is it?

Sloth/Mod

http://www.royalmint.com/~/media/Images/Products/L/LUKLG5/_L_LUKLG5_02.ashx

Amazing! A great memento of the London 2012 Games and it will always be worth its value if not more!

Heat!

Banned

Try sending it though

Limited to only 4 each! I wanted a stack of them

Buying these will have the exact opposite effect to the quantitative easing the Bank of England has been doing. Totally pointless idea on every level and bad for both your bank account as well as the wider economy.

I can't bring myself to vote a fiver for a fiver hot.

Not a deal and it's olympics related and so a double negative from me - one for style and the other for technical merit!

Like everything else that I've seen that's olympics related, it's ugly, Even the Queen has turned her back on this item and looks decidely unhappy that she's had to put in an appearance.

CHEEPSTUFFRULES!

Buying these will have the exact opposite effect to the quantitative … Buying these will have the exact opposite effect to the quantitative easing the Bank of England has been doing. Totally pointless idea on every level and bad for both your bank account as well as the wider economy.



Calm down, they would have to sell millions of these for it to have the slightest effect on the economy, when bought they will rarely be used anyway. Relax.

there are 2 of them for fiver

wishy100

Calm down, they would have to sell millions of these for it to have the … Calm down, they would have to sell millions of these for it to have the slightest effect on the economy, when bought they will rarely be used anyway. Relax.


They are bad for the economy because they will rarely be used.....

CHEEPSTUFFRULES!

Buying these will have the exact opposite effect to the quantitative … Buying these will have the exact opposite effect to the quantitative easing the Bank of England has been doing. Totally pointless idea on every level and bad for both your bank account as well as the wider economy.



Erm No.
In exchange for 43p worth of metal, you give £5 in 2012 spending power to the government to spend how they feel fit, and in return you get a promise that you will be paid £5 minus inflation at some point in the future, assuming you even redeem at all, which most collectors won't, especially foreign ones who won't be able to cash these in once they return home. In any eventuality, messers Cameron & Osborne get money to play with, money which will be used to pay someone or buy something in the economy. At least under this option, collectors are happy with getting a shiny coin whilst the Gvmt get money to spend; it just won't be spent in the local economy of the collector, which is what I think you're getting at.

Under QE, the BOE logs into its computer and creates money that wasn't there before. That is then used to buy assets for which demand has faltered, assets owned by people who don't like to lose money. Much like the worthless pieces of metal bought for £5, the BOE increases their value by creating demand. Now that the QE money is 'out there is the economy', the money is used like all money in the economy and is taxed likewise. This tax is then used by the Goverment to spend as it sees fit. In any eventuality, messers Cameron & Osborne get money to play with, money which will be used to pay someone or buy something in the economy, with the added effect that asset-rich people or organisations, who should have been bankrupted, will be saved or 'bailed-out' by QE. The loss that the asset holders should have accepted has thus been successfuly transferred to those without liquidity or the knowledge to understand what has just happened. Those people, i.e the public (suckers), will thus pay more for goods, oil and food in the future, due to this additional QE money chasing the same limited amount of goods, oil, and food. The final element is to keep the game going as long as possible by telling the public not to worry as it's being done it their best interests and when prices rise they were were 'unexpected' or 'a shock', or were due to 'one of factors' or 'the price of oil'. So, as you can see, under this scenario, although a financial reset (rich people bankrupted, cash machines stop working, violent looters rampaging though our cities) has been been avoided (oh, wait a minute...) we don't get a commemorative coin in exchange, merely higher prices and a confiscated pension.

Erm No.In exchange for 43p worth of metal, you give £5 in 2012 spending … Erm No.In exchange for 43p worth of metal, you give £5 in 2012 spending power to the government to spend how they feel fit, and in return you get a promise that you will be paid £5 minus inflation at some point in the future, assuming you even redeem at all, which most collectors won't, especially foreign ones who won't be able to cash these in once they return home. In any eventuality, messers Cameron & Osborne get money to play with, money which will be used to pay someone or buy something in the economy. At least under this option, collectors are happy with getting a shiny coin whilst the Gvmt get money to spend; it just won't be spent in the local economy of the collector, which is what I think you're getting at.Under QE, the BOE logs into its computer and creates money that wasn't there before. That is then used to buy assets for which demand has faltered, assets owned by people who don't like to lose money. Much like the worthless pieces of metal bought for £5, the BOE increases their value by creating demand. Now that the QE money is 'out there is the economy', the money is used like all money in the economy and is taxed likewise. This tax is then used by the Goverment to spend as it sees fit. In any eventuality, messers Cameron & Osborne get money to play with, money which will be used to pay someone or buy something in the economy, with the added effect that asset-rich people or organisations, who should have been bankrupted, will be saved or 'bailed-out' by QE. The loss that the asset holders should have accepted has thus been successfuly transferred to those without liquidity or the knowledge to understand what has just happened. Those people, i.e the public (suckers), will thus pay more for goods, oil and food in the future, due to this additional QE money chasing the same limited amount of goods, oil, and food. The final element is to keep the game going as long as possible by telling the public not to worry as it's being done it their best interests and when prices rise they were were 'unexpected' or 'a shock', or were due to 'one of factors' or 'the price of oil'. So, as you can see, under this scenario, although a financial reset (rich people bankrupted, cash machines stop working, violent looters rampaging though our cities) has been been avoided (oh, wait a minute...) we don't get a commemorative coin in exchange, merely higher prices and a confiscated pension.





zzzzzzzzzzzzzzzzzzzzzzzzz

Everything about the Olympics seems to rapidly turn to fail......

HelenaHandbasket

Erm No.In exchange for 43p worth of metal, you give £5 in 2012 spending … Erm No.In exchange for 43p worth of metal, you give £5 in 2012 spending power to the government to spend how they feel fit, and in return you get a promise that you will be paid £5 minus inflation at some point in the future, assuming you even redeem at all, which most collectors won't, especially foreign ones who won't be able to cash these in once they return home. In any eventuality, messers Cameron & Osborne get money to play with, money which will be used to pay someone or buy something in the economy. At least under this option, collectors are happy with getting a shiny coin whilst the Gvmt get money to spend; it just won't be spent in the local economy of the collector, which is what I think you're getting at.Under QE, the BOE logs into its computer and creates money that wasn't there before. That is then used to buy assets for which demand has faltered, assets owned by people who don't like to lose money. Much like the worthless pieces of metal bought for £5, the BOE increases their value by creating demand. Now that the QE money is 'out there is the economy', the money is used like all money in the economy and is taxed likewise. This tax is then used by the Goverment to spend as it sees fit. In any eventuality, messers Cameron & Osborne get money to play with, money which will be used to pay someone or buy something in the economy, with the added effect that asset-rich people or organisations, who should have been bankrupted, will be saved or 'bailed-out' by QE. The loss that the asset holders should have accepted has thus been successfuly transferred to those without liquidity or the knowledge to understand what has just happened. Those people, i.e the public (suckers), will thus pay more for goods, oil and food in the future, due to this additional QE money chasing the same limited amount of goods, oil, and food. The final element is to keep the game going as long as possible by telling the public not to worry as it's being done it their best interests and when prices rise they were were 'unexpected' or 'a shock', or were due to 'one of factors' or 'the price of oil'. So, as you can see, under this scenario, although a financial reset (rich people bankrupted, cash machines stop working, violent looters rampaging though our cities) has been been avoided (oh, wait a minute...) we don't get a commemorative coin in exchange, merely higher prices and a confiscated pension.



Erm No to you.

As this is legal tender its monetary value is transferred to it from the Bank of England/national mint. They have to follow the same procedure as printing new bank notes or any other legal tender. You are basically transferring your money into another format which then pretty much takes it out of circulation (not on every occasion, but the vast majority will spend the next 50+ years sat in a draw doing nothing). Not to mention the extra cost of manufacturing, marketing and distributing which is all a drain on the nation.

Totally useless. The only reason to possibly buy one would be if you get a huge buzz from collecting this sort of thing. I feel sorry for people who do.
Edited by: "CHEEPSTUFFRULES!" 18th Apr 2012

CHEEPSTUFFRULES!

Erm No to you.As this is legal tender its monetary value is transferred … Erm No to you.As this is legal tender its monetary value is transferred to it from the Bank of England/national mint. They have to follow the same procedure as printing new bank notes or any other legal tender. You are basically transferring your money into another format which then pretty much takes it out of circulation (not on every occasion, but the vast majority will spend the next 50+ years sat in a draw doing nothing).Totally useless. The only reason to possibly buy one would be if you get a huge buzz from collecting this sort of thing. I feel sorry for people who do.



You've not thought this through.

1) The coin is created at a cost of about 50p.
2) I give the creator £5
3) The creator now has £4.50 more than they started with.

Are you telling me that the creator of this coin who now has £4.50 more than they started with somehow... doesn't? Because you said so? Please elaborate, I can always do with a good laugh.

wishy100

Calm down, they would have to sell millions of these for it to have the … Calm down, they would have to sell millions of these for it to have the slightest effect on the economy, when bought they will rarely be used anyway. Relax.



I am calm (really I am). I am just trying to put up a logical reason for people to avoid this 'product' and go and buy something that may actually have a use in the real world. This is the last thing people should be spending money on in a recession.

gsloman

zzzzzzzzzzzzzzzzzzzzzzzzz



I wouldn't expect anything less.

HelenaHandbasket

You've not thought this through.1) The coin is created at a cost of about … You've not thought this through.1) The coin is created at a cost of about 50p.2) I give the creator £53) The creator now has £4.50 more than they started with.Are you telling me that the creator of this coin who now has £4.50 more than they started with somehow... doesn't? Because you said so? Please elaborate, I can always do with a good laugh.



Really, go and look up the procedure for manufacturing legal tender. They don't just print up notes and hand them out to the banks for free do they.

Any legal tender has a level of credit or worth assigned to it by the Bank of England when it is produced equal to its face value. Each of these coin will have £5 of value assigned to it at its point of production. This is GCSE level economics.

Original Poster

why are some people so against this? it is no different from taking a £5 note out of a cash machine in your local high street

Ordered 3

Heat added

trollthan

why are some people so against this? it is no different from taking a £5 … why are some people so against this? it is no different from taking a £5 note out of a cash machine in your local high street



It would be if you then put that £5 note in a draw for 10-50 years and never used it to buy anything with ever again.

Can you get cashback?

Be weary of this company, not sure if its just post but my mum bought a similar Olympic coin aswell and after a few months she was also sent another one by random, called them up and apparently my mum has been subscribed to the £5 coin collection? Weird

I'm an economics student and you're both boring me to death. If you think you look clever on here you don't, you spoil this website and are totally off topic.

Btw, QE is stupid, but I'll keep that argument on the relevant website!

dan394

I'm an economics student and you're both boring me to death. If you think … I'm an economics student and you're both boring me to death. If you think you look clever on here you don't, you spoil this website and are totally off topic.Btw, QE is stupid, but I'll keep that argument on the relevant website!



It is a relevant argument to have as someone posted the deal. Just healthy debate, which is always a good thing in my mind.

I agree with your on QE.
Edited by: "CHEEPSTUFFRULES!" 18th Apr 2012

CHEEPSTUFFRULES!

Really, go and look up the procedure for manufacturing legal tender. They … Really, go and look up the procedure for manufacturing legal tender. They don't just print up notes and hand them out to the banks for free do they.Any legal tender has a level of credit or worth assigned to it by the Bank of England when it is produced equal to its face value. Each of these coin will have £5 of value assigned to it at its point of production. This is GCSE level economics.



It may be the assumption of a 15 year-old attempting to understand GCSE economics, but it's not GCSE economics.

It you want a parallel example of how the public can swap their cash for a promise to pay in the future, try this link:
War Bonds

Good luck with your studies. If you can stick to the actual facts governed by the maths, physics and sociology of economics, you may find that your interest in the subject becomes rewarding.

Original Poster

CHEEPSTUFFRULES!

It would be if you then put that £5 note in a draw for 10-50 years and … It would be if you then put that £5 note in a draw for 10-50 years and never used it to buy anything with ever again.



go and spend it then.. you don't have to leave it in a draw for 10 years

Good for collectors i suppose.. but i wouldn't like to try and use this on the high street £5 coin?! you're having a laugh

There is no GCSE in economics... Fail.

Brilliant! Heat added!

A great deal and I'll tell you why ...

A few years ago I bought a Concorde £5 collectors edition coin for £5 ... and today it's worth around £25 on eBay!

These get pretty rare, in a few years time when someone wants an Olympic collectable (there's always someone on eBay) then you can make some money or keep it yourself it'll just increase in value!

Banned

Obviously people buy them.....not the same design but an example!

ebay.co.uk/itm…7ce

HelenaHandbasket

It may be the assumption of a 15 year-old attempting to understand GCSE … It may be the assumption of a 15 year-old attempting to understand GCSE economics, but it's not GCSE economics.It you want a parallel example of how the public can swap their cash for a promise to pay in the future, try this link:War BondsGood luck with your studies. If you can stick to the actual facts governed by the maths, physics and sociology of economics, you may find that your interest in the subject becomes rewarding.



I did not say I was currently studying GCSE economics, in fact this is probably sub GCSE.

Good bit of googling there, keep going a bit linger and you may understand what I was talking about.

trollthan

go and spend it then.. you don't have to leave it in a draw for 10 years



That would be great, but nobody does spend these things. They are just a way of removing money from the system which is (on a much smaller scale) inverse QE.

ebybrit

Obviously people buy them.....not the same design but an … Obviously people buy them.....not the same design but an example!http://www.ebay.co.uk/itm/2011-London-Olympics-2012-5-Coin-5-Pound-/190538299342?pt=UK_Coins_BritishDecimal_RL&hash=item2c5cf7b7ce#ht_1249wt_1163



That design is also available for a fiver

joxeruk2000

i couldn't give a T*ss about the Olympics being held in the uk



But the LONDON Olympics will lift magically everyone's spirits, just like the royal wedding!

We the peasants will once again forget that we diligently slave away and sacrifice the larger part of the only life we will ever have, we sacrifice time away from our families, we sacrifice our dreams and passions in order to fund royal parasites, banking parasites, political parasites and any other rich over privileged leeches that want to suck us dry... THIS IS OUR OPIUM, MAN!!!

$ADZ$

A great deal and I'll tell you why ...A few years ago I bought a Concorde … A great deal and I'll tell you why ...A few years ago I bought a Concorde £5 collectors edition coin for £5 ... and today it's worth around £25 on eBay!These get pretty rare, in a few years time when someone wants an Olympic collectable (there's always someone on eBay) then you can make some money or keep it yourself it'll just increase in value!



Oh. You mean like the Queen's Silver Jubilee Coin that everyone has?

Banned

cb-uk

Everything about the Olympics seems to rapidly turn to fail......


Really?
Just wait til those fit, scantily dressed burds start running, jumping and cartwheeling across my 50" Telly. oO

CHEEPSTUFFRULES!

It is a relevant argument to have as someone posted the deal. Just … It is a relevant argument to have as someone posted the deal. Just healthy debate, which is always a good thing in my mind.I agree with your on QE.



I must say I don't agree with you on QE, tho this is not the website to be discussing it. We are discussing the deal, not how fast the royal mint is churning out money.

Also how do you get free delivery?

HelenaHandbasket

You've not thought this through.1) The coin is created at a cost of about … You've not thought this through.1) The coin is created at a cost of about 50p.2) I give the creator £53) The creator now has £4.50 more than they started with.Are you telling me that the creator of this coin who now has £4.50 more than they started with somehow... doesn't? Because you said so? Please elaborate, I can always do with a good laugh.




So can i give you the amount it costs to create a £50 note.

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