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George Michael coins

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Doodledog Mon 26-Feb-24 11:51:32
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Now I love George Michael. He always seems like one of life's good guys, he did a lot for charity, a lot for 'ordinary people' under the radar, and he certainly had a lot of talent.

But what is the point of these coins? They are made by the Royal Mint, and sell for £15 for the cheap one, which is presumably base metal and can't be spent (if it were to be put into circulation it only has a face value of a fiver anyway) to £5305 for the gold one.

You can't spend them. They have no guaranteed value, and I very much doubt that they will represent the value of the scrap metal. You could frame them, but unless you get a set you'd have to be very imaginative with the frame, as it would either be tiny or have a massive mount, which would look a bit daft.

There are many other 'commemorative' coins available, from pop icons like the lovely George to The Snowman or Mary Seacole, so the Royal Mint caters to all tastes, but I still don't see the point of them. I doubt they will rise in value, but I suppose that's possible.

What am I missing?

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keepingquiet Mon 26-Feb-24 11:56:44

People collect them, some people make money from them. They make life more interesting for some people. I don't have ann issue except to say maybe we are making the most of the coinage while it lasts?

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Doodledog Mon 26-Feb-24 11:59:21

I don't have an issue with them - each to their own. I just don't get the point. Maybe if people have whole collections they could display them to good effect, I guess.

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TinSoldier Mon 26-Feb-24 12:23:25

It isn't a new thing. Royal Mint have already issued coins in their Music Legends collection for Shirley Bassey, David Bowie, Elton John, The Police, The Rolling Stones, Queen and The Who. People collect pop memorabilia. It just exploits that market.

This is all part of the Royal Mint’s drive to make money in other ways as the use of everyday coin diminishes:

www.royalmint.com/aboutus/press-centre/gold-shines-for-the-royal-mint-as-it-announces-record-18-million-pre-tax-profit/

The Royal Mint has announced a pre-tax profit of £18 million for the year ending 31st March 2022 – the largest profit since vesting as a Limited company in 2010.

The milestone result marks the end of a three year business transformation strategy led by Chief Executive Anne Jessopp. It has seen the UK’s oldest manufacturer successfully evolve into a consumer brand, expanding into precious metals investment products, the sale of historic coins, jewellery and luxury collectibles.

2023 numbers:

www.royalmint.com/aboutus/press-centre/the-royal-mint-announce-17.7million-operating-profit-as-it-forges-new-future-in-sustainable-precious-metals/

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Theexwife Mon 26-Feb-24 12:43:54

Anything collectible becomes more valuable as scarcity increases, I am assuming there is a limited number being produced.

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Doodledog Mon 26-Feb-24 12:55:08

Yes, I know that there are lots of different ones available, and that in general scarcity will increase the value of things, but only if people want to buy them.

They remind me of those gilt-edged plates that used to be on the back of Sunday supplements. The ones with soppy verses and pictures of animals or country scenes. They were always marketed as being investments, as they would take them off the market when (or if) X number were sold, but they were pretty much worthless.

If they make people happy, they do no harm - don't get me wrong, I'm not saying they are bad. I just think that over £5k for a £5 coin is likely to be parting people from their money unnecessarily.

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