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2013 Silver Britannia Coins – Highest Price Lowest Quality
The Royal Mint
The Royal Mint must have the highest production costs out of many of the World Mints – apparently it costs them considerably more to produce their coins than it does the Austrian Mint, U.S. Mints, Royal Canadian Mint, the Perth Mint in Western Australia who we believe all produce coins not only cheaper but also to a much higher quality. We do not know why this is. Perhaps it is so they can pay their new Executive team the extortionate wages they believe they deserve?
For years we have warned our customers of the substandard quality and inflated price of many of the Mint’s coins. If customers do not need to avoid Capital Gains Tax then we have often recommended buying at the lowest possible premium over the spot price. This often means buying one ounce gold or silver coins of our choice which are usually Austrian Philharmonics for the silver and Australian Kangaroos / Nuggets for the gold. This not only means that the customer gets the best value but also means that they get coins minted to a higher quality and – in the case of the Australian coins – in a capsule.
We are aware that many of our customers are not only investors but also collectors and regardless of that we assume that the majority like to receive coins in the best possible condition. We try and warn our customers – either prior to purchase or prior to despatch – of any scuffs, marks, dents, scratches or any other imperfections on either the coin or the packaging but we must admit to not always being as careful with brand new products.
2013 Silver Britannias
We received our first delivery of the 2013 silver Britannias in December 2012. Whilst technically a bullion coin – bought primarily for their precious metal content – we also advertise them as uncirculated coins as they have not been in circulation. We define uncirculated on our coin terminology page as:
Literally, this means that a particular coin has not been in circulation, but normally it describes the grade of a coin, a coin which is in mint condition. Please note this does not mean perfect, as most coins have scuffs and minor scratches, knocks and imperfections through the mass production methods used to produce them.
As you will see we make allowances here for the mass production methods used to produce modern coins. However, even these allowances can not be expected to cover the extremely low quality of this year’s silver Britannia. The reverse (with the Standing Britannia) is not too bad, there are just a few scratches on the highest parts. However, the obverse does not do Her Majesty The Queen any favours – her cheek, chin and neck are very badly scuffed and scratched – and the field also has some markings.
|2013 Silver Britannia Obverse – Close Up||2013 Silver Britannia Reverse – Close Up|
|Please accept our apologies for the coins looking black on these photographs. We can assure you the coins are silver but as you will know if you have ever tried to photograph something bright and shiny – it can be difficult. Please view our product page for images taken using our usual photography methods.|
The Royal Mint’s Excuse
We have heard that The Royal Mint do not yet plan to do anything about their substandard manufacturing methods. Apparently it is the way the coins are removed from the machine after striking and that is that! Presumably the coins have always been struck in the same way and it is the change of alloy – from Britannia silver (.958) to fine silver (.999) – that has affected the end result.
2013 Silver Britannias For Sale
We are still offering the 2013 silver Britannia for sale, not only to meet demand, but also because we have placed our usual order – and taken delivery – and we would not want to renege on the deal. However, you have been warned!
These coins are still in the protective sheeting as issued by The Royal Mint and I can assure you that we have not been rolling them around our stock room or playing shove ha’penny with them. In fact, they will be the same as if you purchase them from anywhere else. We have had a conversation with one customer who had bought them from Europe and experienced the same problem. In fact if your dealer has not warned you then you can assume that either they haven’t checked the coins or they are trying to feign innocence.
Exceptions to Our Terms and Conditions
Our standard terms and conditions – in line with the Distance Selling Act – state that:
13. - (1) Unless the parties have agreed otherwise, the consumer will not have the right to cancel the contract by giving notice of cancellation pursuant to regulation 10 in respect of contracts -
(b) for the supply of goods or services the price of which is dependent on fluctuations in the financial market which cannot be controlled by the supplier;
However, for customers who have purchased 2013 silver Britannias from us prior to our warnings of the condition of the coins (8th January, 2013) we are willing to make an exception.
If you have purchased 2013 silver Britannias and would like to exchange them for an alternative product or would like a full refund then please do not hesitate to get in touch on 01253 343081 and we will be happy to discuss this with you.
We can only apologise on behalf of The Royal Mint for their substandard quality.
It’s Not Just Us…
A quick search online highlights that many other dealers, collectors and investors have also spotted the inferior quality of these coins. We wonder how much more it will take before The Royal Mint take action?