I contacted the Royal Mint about why they were selling a base metal coin with a face value of £1 for £10 (plus £3 postage unless you order something else to make your order at least £45). I got a stock reply about cost of metals increasing, inflation etc (even though recent talk on the UK economy mentions deflation!). The reply was clearly one aimed at someone enquiring about precious metal coins.



I then replied back to say it was a base metal coin I was referring to, and that it would presumably end up in change later in the year for its face value, and that £9 was a hefty 90% profit. I also pointed out that postage on such an item alone would not be anywhere near the region of £3, so there is a further profit there. The reply I got back from this was very strange, almost as though I had completely stumped them.



Ten or even five years ago, I'd have supported keeping the Mint with the status it has (or then had), but now I think it's time it was privatised and opened up to competition. Force it to be competitive on pricing and let other companies sell these coins more cheaply. Either that or that base metal coins should be offered for sale in circulation quality at not much more than their face value. Loose, no folder or anything. Allow people to buy coins like this rather than having to wait and hope they get them in change later on.

