izax

Hello and good evening. Firstly I have not read all the rules of this forum so apologies beforehand. I am NOT a coin collector, unless of course I take into consideration my collection of full sovereigns (I have had one given every birthday since born, by my parents, so quite a few really). I have come on here to ask about where (dare I say it, because it has probably been discussed to death) do I take a large number of these 'mule 20p' coins so they go into collections and NOT 'cashed in' on eBay? Only last week I went through some bagged coins I had from the bank in 2009 and discovered THREE full bags of these coins, so 150 in total and are in almost unmarked condition. I have noticed that they are selling for high amounts on the auction site. I am not interested in making a profit on these (I don't need the money) so certainly would not expect anyone I gave them to, to do the same! I may consider giving them to collectors but would need to be assured they would not end up been sold on for profit. Mr F

Good evening. I have not yet decided what to do with them. A charity would be the obvious choice. I have contacted the Mint direct today, spoke to some dumb-wit receptionist but 2 hours later got a returned call from their customer-investment manager. He offered to 'take them off my hands'. Further into the conversation I asked a few questions why 'they' were keen to have the coins returned, considering the £100 they are offering to the general public. I have discovered that THEY are the culprits in the high sale price mainly to protect their own investment, after all they are a private, profit-making company. They will build up a collection of these coins to send out to their own highly valued customers, (some of which spend £1000's or even 10's of 1000's each year with them) purely as a 'thank you' for their custom. After all, who would want a free gift sent if it was not worth anything?! With the Mint offering £100 gives the coin an instant inflated value. It seems that as time goes by they may put the price up again and again, therefore giving the 'free' gift a VERY high value. I was told that a max of ONE coin could be traded for £100 per household, that person having to give details of email, address and phone so hopefully would become a customer buying proof sets etc for years to come. I was offered £250 for ALL my coins as a 'good-will gesture' I say to anyone who has these to keep hold of them and see what happens in the next 12 months as I think the offer may double form the Mint to make these gifts worth having.

I understand that but the more they bid, the more they will have to pay for ebays' commission, that's why i would add this clause. I could also add in the listing that i will remove ANY bids over a certain amount ps, one has just sold for £80 !!!

I will hold on to a few, maybe one for each of my children and up to yet FIVE grand-children! I have a plan....... I believe I can bring the price right down on ebay. I will put a single coin on there on the maximum auction time (28 days??). I will put the start bid at 20p and put in the description that whoever 'wins' the bidding will only pay 20p plus the cost of the listing and final commission. eg If it is won @ £50 they would pay 20p + £2 listing + £2.50 commission, therfore a total of £4.70! I would also add that I will auction off the remaining 120 or so this way. I have enough coins to do this for TEN YEARS. Should keep the false-high prices down Comments please.

Thank you for the reply. I did consider to just use them up in the numerous coffee machines I come across or even return them to the Mint. I cannot see why the coins are selling so high, is it that the auction site sellers are dictating the prices? I can almost buy a gold sovereign and I know which i would prefer!