10 Reasons Why I Will Never Buy From
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- čas přidán 23. 05. 2024
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Welcome to the intriguing world of gold and silver investing! Have you ever found yourself captivated by the shimmering allure of these precious metals? If so, you're not alone. Join me on a journey as we explore the multifaceted reasons behind why we buy gold and silver.
For me, stacking silver and gold began as a hobby, a fascination with the tangible beauty of these timeless assets. As I started delving deeper into the world of precious metals, my motivations evolved. What started as a hobby soon transformed into a means of financial security and wealth preservation.
Over time, my outlook on gold and silver investing has shifted. Initially driven by the desire to acquire shiny coins and bars, I began to appreciate the historical significance and intrinsic value of these metals. Gold and silver have stood the test of time as reliable stores of wealth, unaffected by the fluctuations of fiat currencies and economic uncertainties.
But it's not just about financial security. Investing in gold and silver has also become a way for me to diversify my portfolio and protect against inflation. In a world of constant change and uncertainty, having a tangible asset like gold and silver provides a sense of stability and peace of mind.
Moreover, there's a certain satisfaction that comes with holding physical gold and silver in your hands. It's a tangible reminder of the value of hard work and prudent financial planning. Each coin or bar tells a story, whether it's a piece of history or a symbol of hope for the future.
As I continue to stack silver and gold, my reasons for doing so have become deeply personal. It's not just about financial gain, but also about preserving wealth for future generations and leaving a legacy of stability and security.
So, why do we buy gold and silver? The reasons are as diverse as the individuals who invest in them. Whether it's for financial security, portfolio diversification, or simply the joy of owning something beautiful and valuable, gold and silver hold a special place in the hearts and portfolios of many.
Join me as we delve into the fascinating world of gold and silver investing, and discover why these precious metals continue to captivate us generation after generation. Don't miss out on uncovering the timeless allure of gold and silver! 🌟 #Gold #Silver #Investing #PreciousMetals
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Dan the collecting man has just done a great unboxing vid on the latest perth mint coins 👍👍👍👍
I will have many many more videos doing the same!
At the start of my stacking and collecting journey 18 months ago, I decided I was prepared to buy my children the first silver proof coins minted with the King Charles effigy on them, accepting the woeful exchange rate between Australia and the UK. I thought buying direct from the mint would be the wise choice rather than waiting and hoping for a local coin store to bring them in. How wrong I was. A few email exchanges and 6 months later when they arrived I saw them advertised cheaper that what I purchased them for in AUD at a few specialist coin stores here not to mention the anxiety it caused me to see such a significant sum of my money disappear for so long with nothing to show for it. One and done for me. It's Perth mint, RAM and RCM all the way for me. I'm just hoping to complete my bullion Tudor beasts collection for the kids but even the bullion dealers here have had a gut full of the quality issues and are hesitant to order. I'm just hoping in 18 years when my children open up the silver proof coins they aren't milkspotted!
I think all of us here in the UK were struggling with RM, so just going away from them it's no suprise. To be fair RM is getting worse and worse on a yearly basis with pretty much everything they do.
Can't agree with you more! Their quality control is absurd. My last purchased of the Tudor Dragon was returned twice! I gave up too.
If the Canadian mint was able to fix the milk spot issue, it boggles my mind that the royal mint can't or doesn't care to fix it. It's a shame that the royal mint has such quality control issue because they have some of the most beautiful coin designs.
If the Royal Mint have discontinued the Monarch's collection, then they have not updated their website correctly.
Under this collection on their website, they still mention that the product line will finish in 2026 ending with Elizabeth II.
👍 Well said BYB. The list is spot on in my opinion also. I missed a couple of monarchs which I had in mind to buy when I had a chance. I was going to try and complete the whole collection in 2oz and 5oz. I have no desire to backdate now and will be considering selling the ones I have. Good on you, I believe you are sharing the frustrations of many including myself. 🍻
As an Aussie buying from the RM. I stopped buyed over the payment situation you mentioned. By the time the real payment went through, the exchange rate had altered meaning the price for me was actually higher than when I had ordered the coin. Was not happy. Especially when I was buying a gold sovereign.
Before they cancel coin series, they should cancel the part of the management structure which got the Mint to this place. The lack of accountability when it came to shipping damaged proof coins or being flippant in their denial about milk spotting, speaks to a toxic culture that isn't actually there for the love of coins. I could speak to why, but it wouldn't be a PC explanation.
All while Anne Jessop (CEO) pockets £462,000 per year in pay, bonuses and pension. Oh, they have also suspended their profit share bonus for staff, with the exception of the exec team. Total joke.
Precisely. Blase, vanilla, modern day, cookie cutter, corporate culture, came to the Royal Mint.
Think I will pull my funds out of the royal mint and go shopping around the world. Looking at the comments, the Perth mint looks very exciting
Do it, do it now.
You are an absolute Legend 👏👏👏 You are 100% right and I agree with you. They are just cashing in!
All while Anne Jessop (CEO) pockets £462,000 per year in pay, bonuses and pension. Oh, they have also suspended their profit share bonus for staff, with the exception of the exec team. Total joke.
@@BackyardBullion Sadly that is the country in a nutshell.
there was a number of monarch collection coins just up on heritage auctions last night, still sold for decent amounts despite the collection cancelled, most silver sold near to the mint's pricing (then the owner loses out from the HA fees), the gold coins sold about halfway between mint pricing & melt value.
After fees that is going to be a massive loss.
@@BackyardBullion It shows there is still interest in buying these coins and they were willing to pay good premiums, it's more a matter of figuring out how to minimize the transaction fees. Plenty of other royal mint bullion commemorative coins sell on HA for half or less of the mint's pricing, those are the big losers.
I think the weasley response from the government alone, would have done it for me
You're not wrong.
Another reason ...The Perth mint are better ...our first direct purchase from them arrived today...the 125 anniversary typeset...it is a stunner ....dispatched in a day delivered from perth to the UK in 72 hours ...and great price and communication thanks for your vid on them again ...
Thanks for the info, they are so much better.
perth mint has to fix the milk spotting issues they have
@@stevestevens502 think the royal mint have more problems in the milk spotting area to be fair
I am as many others will be very saddened it has all come to this....but we, I am sure are with you 100%!
Royal Mint must have greedy marketing decision makers employed there now.
Their now ever evident strategies are flawed and designed to fleece the public. They adopt a highly condescending attitude towards customers.
Boycott them I say.
Meanwhile across the pond stateside we got the Mint pull out a miracle outta their 6 and the sold out Britannia and Liberty medal and coin is not so sold out. Miracle
I agree with your top 10 having experienced most of them. I sent a complaint to customer services re the cancellation but got a very bland cut and paste from their generic email. They did not address any of my other points.
Looking at the Monarch’s coins still on sale, it looks like the £2 & £5 silver coins all sold out but they have had problems shifting the gold. I wonder if this is where all the big profits are.
Pity the could not even continue as Silver bullion versions, with the designs done, it can’t cost that much to cut a few dies.
100%. They had agreements with Heritage in the USA to take 500 of each of the gold per release and Heritage cancelled their orders. Left them up the brown creek. All while Anne Jessop (CEO) pockets £462,000 per year in pay, bonuses and pension. Oh, they have also suspended their profit share bonus for staff, with the exception of the exec team. Total joke.
Well, for me, living in the States I've never bought directly from the RM.
However, I am very aware of the ongoing milk spotting scourge.
I personally don't mind an occasional rambling rant.
I think it really stinks 😕 that the RM would be so flippant with their customers 🧐🤔
Hi @backyardbullion I’m in the cool kids club 😂 I was just curious when you say Tudor beasts may be next for the chop do you mean just the proof coins or do you think that will include the bullion coins? Thanks
I think both
I hope Tudor beasts don’t get canceled, currently collecting them and was really looking forward to the complete set.
Good video👍🏻😊
Thanks 😁
Very well done video, and I agree with all your reasons. It would be interesting to see if RM will cancel the Tudor series. That would certainly leave a bad taste with many collectors, including me! 😂😂✌🏻
It certainly will
Nice one BYB.
I think the issue of the horrendously over priced coin sets deserves its own listing, because these are clearly aimed not at 'expert' collectors and numismatists, but at amateurs - youngsters and people just starting out in the coin collecting world. Newbies buy from the Royal Mint (RM) because they trust them and want to avoid firms with display ads in weekly magazines for fear of being ripped off with overpriced tat. I know, because the first coins I bought when I started out were from the RM for precisely this reason! (And yes, I paid waaaaaay over the odds.)
Much like a corked bottle of wine, the RM brand is now tainted, sullied by their relentless pursuit for profit at the expense of their customers. The current management team and CEO should all be sacked for gross incompetence, being morally bankrupt and bringing a mint that was once regarded as the finest in the world - into disrepute. Absolutely shocking. 😞
All while Anne Jessop (CEO) pockets £462,000 per year in pay, bonuses and pension. Oh, they have also suspended their profit share bonus for staff, with the exception of the exec team. Total joke.
Would you still purchase special sovereigns from the Royal Mint, if our Monarch was to change again?
I never buy directly from the Royal Canadian Mint mainly due to extremely high premiums, but I do buy their beautiful products on the aftermarket at prices based more on precious metal content.
Wonder how there auction will go!
There is a 20% buyers fee on all lots. That's ridiculous. Sellers will get less than spot on most items.
Ordered and paid for the commemorative proof sovereign , took 7 months to arrive
I have acquired many beautiful proof Royal Mint products here in Canada but I have never paid more than spot + 10% for silver and spot + 2% for gold. Even getting those 6 coins would be a great coup from my perspective but I am always several years behind as it takes a while for coins to cool down.
Gave up on them several years ago when I saw so many flippers managing to somehow jump the queue on getting new releases and then selling at a huge profit.
All the 10 ounce coins they do look great. Tudors, Myths and legends, Royal arms. I can't find the 10 ounce BU Little John in the USA for some reason.
I can understand sticking up for your nations mint. Even when things didnt go right. Or if you felt cheated/scammed. You did your part for your homelands mint. Time for the RM to sell themselves. Thanks for telling us about your experiences 👍
Well said, thanks my friend.
Hi there after some advice , i have stocks and etfs , never bought gold , got 500 spare each month , is it best to buy bars or coins , where would you start ,
Dont really want to pay more tham spot
Buy a sovereign every month, best decision you can make.
I work in Quality control at an engineering company, If you are having a quality control problem then it is not always
the people in Quality control at fault.
It's the management not listening or talking to quality control over the issues that are going wrong, or that
in my case, management just overrule any decisions you make, as they put making money over the quality of the
product.
This is what I think is the problem with the Royal mint, and their very poor quality of their products, this is
when they lose customers and profits go down, very much the same way the engineering company I work
for has gone.
I only buy coins off the Royal mint because of them being CGT free, if it wasn't for that I wouldn't even bother with the crap.
Couldn't have said it better myself.
Hmm I am not a coin collector, I stack coins so all I care about is 4 things - 1: Coin purity, 2: coin weight, 3:coin availability, 4:coin authenticity, so any series that discontinue do not effect me that much. (I'm fine with the pricing btw).
Fair enough
Hello. I'm sorry but I didn't quite understand. They canceled the British monarchs set? No more coins from this series coming out soon?
None, thats it. Only 8 coins in this set
@@BackyardBullion thank you very much for the information. It's very annoying.
Still waiting for 2oz bullion Tudor beasts to be released. 🙈
You might be waiting a long time. I think they are cancelling this series.
I like to get a new small gold coin for New Years every year. The Royal Mint is one of the few mints that gets their new coins out in time to have in hand for New Years. So I like them.
I can’t believe they tried nothing… changing the order of the series to introduce some well-known monarchs… releasing them in a batch of 3-4 monarchs... reducing the options like just a one ounce in silver and gold… Instead they went straight to cancelling.
Yes I agree with you however they are a business and they want to make money. If you are going to sell these coins, I am interested in buying the Henry Vlll coin from you. Kind regards Malcolm
I never heard about the Monarch series, I would have liked that. I am doing the Tudor Beasts, I hope that you are wrong with your prediction that the series could be discontinued. That's part of the deal, I never would have bought some of the coins, except to complete a set. The set is the whole purpose, they shouldn't be allowed to stop them.
My first and as it will be, only purchase from the Royal mint was the Tolkien silver proofs. First and foremost, they presented the coin as it was for sale and nowhere on the listing did they mention that it was in fact a “presale”. Second, I contacted the RM via phone and was given that little tidbit after I had been waiting over a week after purchase and the response was it wasn’t starting production for four more weeks. Third, after the fifth week I reached out once more to find out the first person lied to me and the first coins went out two weeks after my initial contact and she couldn’t even find my purchase information. All in all it took a whole two and a half months to get the purchase with positively no communication whatsoever on their part. as it turned out, apparently I made the purchase within minutes of its first listing. And while I should’ve gotten an early mintage, I almost didn’t get the Piedfort at all. Because I called to remind them I got number 1344 out of 1500 as opposed to not getting one at all.
Thoughts on Hattons of London?
Avoid with a barge pole. Don't buy anything from them
Stay safe mate 👍🧲⚓️
Thanks my friend.
Miss the group orders
What a shame - some of their designs are outstanding and I completely understand the desire to back the national mint. But your reasons for cutting ties with them make perfect sense.
Thanks. It's a sad state of affairs.
It's poor form to cancel a series but personally it wouldnt bother me that much. The most abnoying thing for me with RM is the shocking quality especially with Britannias and other 1oz coins, I pretty much only buy 2oz or small bars from them now as the 1oz is too much of a lottery and often scratched, chipped, milk spotted.
I’ve stopped buying 50ps with stickers on the back ie Star Wars and harrypotter ok for some will never be worn anything
Totally agree.
Pink sovereigns! Who on earth thought it was a good idea to make sovereigns pink!
I have stopped buying from them 4 years ego, after paying 75 pounds for queen's beast coin and week later I could buy the same coin for 60 euros from a dealer in different country.
I have had a similar list for awhile, tbh...but, I will also add being charged £2 by Royal Mail to receive my bill from The Royal Mint... because they *forgot* to put a stamp on the envelope...😂
- No refund on that £2 either! 😢
Wow, amazing. All while Anne Jessop (CEO) pockets £462,000 per year in pay, bonuses and pension. Oh, they have also suspended their profit share bonus for staff, with the exception of the exec team. Total joke.
@@BackyardBullion 🤨 ...all we need now is a computer system that had bugs - all along! 🤔
Ha, yes.
To be honest I like the moany videos, sometimes institutions like the royal mint/mail need to be held more to account by the public Your MP saying "don't worry they didn't break any of their own rules, and they got "some positive" feedback but a "small number" of people, caused them to change their policy", really got to me. Can't admit anything is ever wrong, bad or negative.
To clarify, my MP was/is on my side. It is a representative from HM Treasury that made these comments. Totally ridiculous.
Yes. A culture which lacks accountability, is doomed to failure.
do you mean you will stop buying RM products altogether or just from the actual royal mint?
It will have to be a very special product to buy again. Even then I would buy from a 3rd party. Never again directly with the mint.
Like you say BYB, I'm sure the Tudor Beast series has seen its last coin roll off the production line. My view is that they rushed it out way to soon after the Queens Beast series, causing buying fatigue, the designs are not as good as the QB series and a daft start by bringing out the Panther as a proof then there was a completely different Bullion effigy that followed!! Finally, there are two Dragons and two Panthers in the proposed series, so wondering how they are going to produce two very different coins based on the same Beast and within a couple of releases of each other?? A lack of thought, execution and the feeling of money making opportunism me thinks!! I wouldn't say I'm going to boycott the RM, as I don't buy much from them as I can buy cheaper at Atkinsons, Chards, Tavex etc. but I believe there needs to be a shake up in South Wales and a sharper focus on the customer, quality and what they release.
I bought my first silver Britannia coin from royal mint had milk spots!
But it's oK because they have thousands of customers that are happy about it. There is no problem.
It's a good sign to see some milk spots on silver...
Amazing that the Mint are struggling commercially with these coin series when they are literally printing money!
Will you be purchasing normal Britannias or sovereigns?
Don't see why not, just not from the mint directly ever again!
After spending between £20,000-£50,000 a year you would be treated better but the mint seems to only look after No.1 all should avoid buying off them in the future
Well they have stated they are more interested in recycling GOLD and they going away from coin production.
Buy gold sovereigns from 1979- 1999.
No bullion sovereigns were produced. Limited rarity around 10-11,000 only each year.
I have never ever purchased a single coin from the Royal Mint!!
That’s were the money is!👍
It's a shame because the monarchs series actually looks good. How could it not succeed. Price ?
It's not for everyone. I think part of the issue is price but also mintage. They cannot shift these coins to their usual suppliers and so those suppliers have pushed back on the mint. So they have too many unsold products. Basically it's a complete miss management from top down. All while Anne Jessop (CEO) pockets £462,000 per year in pay, bonuses and pension. Oh, they have also suspended their profit share bonus for staff, with the exception of the exec team. Total joke.
@@BackyardBullion - Anne Jessop? Hmm, there’s always that suspicion, isn’t there?
I do hope the DEI commissariats get shut down asap. They’re doing visible harm to our once great nation!
I really don't know about the Monarch series, but cancelling a series is totally wrong. People don't care about the individual coins, they want a whole set, like advertised. If they kill the Tudor Beasts, it will be personal, and I wouldn't trust starting another set. No one will, why do they think we buy sets? Like buying Tupperware, but no lids. This can't happen, collectors will shut them down.
Totally agree.
The US mint can be just as bad. They were significantly overcharging for eagles a few years ago simply because they couldn't get enough blanks from their supplier. So folks were paying 100% or more premium on silver eagles. The communication from the US mint is also horrible too.
In my mind though, the Royal Mint coins like the Britannia are more beautiful than most US mint products when they don't milk spot. For the milk spotting alone I actually think the Royal Canadian mint does the best job with the beautiful maples. The Perth mint also isn't too shabby either, but I'm not a fan of the kangaroo coins and King Charles Portrait on the roo looks horrible.
Seems to me that the Monarchs Collection was badly thought out from the beginning. Had they started from about the year 800 and worked forwards, or even backwards from 2023, at least they would be consecutive. And even stopping part way through those coins would at least bear a relationship to each other. Whereas what you have now is simply a very disjointed jumble, with practically no-one related to anyone else. What a shambles!
Totally agree. Would have looked great all together and actually meant something unlike the countless crap star wars and Jane's bond coins they are making now.
If you have an account with the RM, and your purchase history prove you're committed to collect a series, they should Mint enough to offer a specimen for each customer.
To launch a series, all the engravings should be prepared before the launch started.
I agree, but they don't care. All they care about is Anne Jessop (CEO) pocketing £462,000 per year in pay, bonuses and pension. Oh, they have also suspended their profit share bonus for staff, with the exception of the exec team. Total joke.
Yep never again , have to in gold and now so disappointed
If they said a 21 coin collection, they should stick to the agreement
Should of bought original coinage from thes e monarchs time . True silver penny's only weigh little over a gram . But funner holding coins from hundreds & hundreds years old.
It is really too bad but when a buisiness starts pulling things like this off how do they justify staying in buisiness ? Our mint charges $120.00 an ounce MINIMUM for silver ounces. Not buillion though. I refuse to pay that much for an ounce of silver that when it is time to sell I will get spot . I will continue to purchase Maples rounds and bars. They are relitivly competative on the market. Sounds like I agree with all you are saying here. I bet if you are put into the drivers seat on the Royal Mint. I am ure a head or two would roll on out the door. Saay hi to your Mrs and I bet you feel beter now that you have all that off your shoulders old friend.
Looks like they have systematically created the ideal conditions for citizens to not buy silver. That would seem to be their main goal.
And they also cancelled Lunar series in BU (!) format several years ago.
You shoukd be an awful producer to fail with Lunar products.
Did they cancel proof Lunar coins or not yet?)
Like #17 🍿
Thank you 👍
These will be worth more one day because people think they won't.
The Royal Mint have been selling pretentious, unimaginative vastly over-priced product for years. Cancelling this series I feel reflects their opinion of their customers - they just don't care. You are right to call them out as often as you have. I feel the RM is a very poor global advert for British numismatics.
I only buy BU coins enough said from RM
What a silly decision by the RM to stop the Monarch series. Crazy decision.
Madness. The negative press it will do for them is beyond the losses they might have taken.
Surly it makes them worth more no?
Doubt it. One just sold on eBay for 1/2 issue price.
the royal mint are a pain they make mistakes about gold price and still wanna charge u for that later on greedy money grabbers
Very hard to disagree. Impossible to defend them.
Let's be real though, The Royal Mint does not care. Profit above all else.
How you were treated is horrifying 😕
While not much but shove RM and it allows you to explore other mints that deserve your custom, attention, and awesome videos.
F all government coins. stop paying premiums instead of stacking more metal. its cringe
You gotta think of it this way, once goverrnment coins stop, it makes them even more valuable because it then becomes numismatic.
Buy Silver Eagle's
Is anyone else still stewing over this?
Tudor beast better nit get cut
Be very concerned - I certainly am.
I can give you one reason why I will never buy from RM again!!!!
Please share it!
What is it?
Come on you said it, so say it! 🤣🤣🤣@@ian5780
@@BackyardBullion Cost compared to other mints. BB, you highlighted in a recent vid about Perth Mint and you were certainly bang on with PM Cost and quality, even with custom duties!
!!
My thoughts exactly
Easy just buy from the Perth mint and all your problems are solved 😂
Buy enough over time and have a secondary market.
I think you are overreacting a bit. So they cancelled a set, they don't always do that.
Screw the royal mint. Im sick of milk spots and queens on the back of coins.
Whilst I agree with your RM complaints, aren't you at risk of becoming a serial complainer? There is always a risk when you get in at the start of something.
Just think some of the rarest coins come from limited or cancelled production runs! Why not throw them in the back of your safe, forget about them for a while in the chance that they become rare. Anyway, you may not lose much on the precious metal content.
Thanks, I don't intend to be a serial complainer. This is probably the last I will talk on this subject
Where will you buy now? US Mint and Mexican Mint have no royals on their coins.
Perth mint, that's my new stomping ground.
@@BackyardBullion they have great stuff. And are super transparent. Only mint I know of with public tours and a cafe. Plus home of the 1 ton largest coin (I think the size is 1 ton or like 1000 kilos).
Valuable feedback right here RM!
@royalmint
They don't care. I have tried so hard. They don't care. Management is the only way it changes and Anne Jessop has her claws deep in the pockets of the future of the mint. She earned £462,000 last year. They have also suspended profit share bonuses for all staff with the exception of...you guessed it, the exec team.
That’s a shame!
Unfortunately, it seems there is a similar theme with many other big businesses too!
I appreciate your frustration as you’re also someone who has been a loyal customer and spent a lot of money with them, you deserve much better!
And even more so given they are Collectors items.
Don’t waste too much more time with them. Time to move on and take your wallet and custom where it’s respected.
Plenty of good mints with decent items out there.
All best BYB!
Thanks man, I appreciate your feedback.
@@BackyardBullionthat’s scandalous!
Yes, but don't worry...HM treasury replied saying that executive level pay is appropriate.
The royal mint probably prefers to sell to their criminal friends!