New five pound coin: scam or what?

LittleVoice

superscaper wrote: »

It's the same coinage, it's merely the face value that's changed. And by the way, half a crown 2s 6d is about 12 1/2 p, so a crown is 25p not 50p. Maybe your memory is a little rusty.

You're right of course about 2s 6d being 12.5p, so a crown was 5s.

I now understand that the £5 coin is called a crown because it is the same size as the old crown piece, nothing to do with its value.

mrbadexample

Voyager2002 wrote:

Is this a matter for Trading Standards, or even the police?

No. :rolleyes:

mervyn11 wrote: »

Its a matter of common sense surely..........

Yep. :doh:

Voyager2002 wrote:

So what should I do about reporting them?

Absolutely nothing.

This is not a scam. It's an offer from the Royal Mint for a commemorative five pound coin. You send them £5.00, they send you a £5 coin. There's no catch. They can afford to absorb the postage because they don't cost £5 to make. They can be exchanged in Post Offices if you really want to, although why you'd buy a commemorative coin and then cash it in is beyond me.

Commemorative crowns have been issued for many years (surely you've all got a silver jubilee crown from 1977 knocking about somewhere?) - they had a face value of 25p (see here). Modern commemorative issues are now £5 coins, as 25p isn't really worth much, is it?

Looks like someone on fleabay already has theirs...now that's a scam.

anewman

mrbadexample wrote: »

Looks like someone on fleabay already has theirs...now that's a scam.

Sent them this....

Hi, I have a special edition, uncirculated mint £10 note. Would you like to buy it for £52?

dm827430

mrbadexample wrote: »

They can be exchanged in Post Offices if you really want to, although why you'd buy a commemorative coin and then cash it in is beyond me.

i guess you dont collect points/miles on your credit card:D

mrbadexample

dm827430 wrote: »

i guess you dont collect points/miles on your credit card:D

No, I collect coins.

lalande21185

Just went down to my Village post office, the lady said they went out of circulation and will NOT accept them anymore. I have 2 £5 coins. Millenium £5 and Queen Victoria 2001 £5 coin. Sill got the protective wrapper on them. Dam!!!!!!!

maninthestreet

lalande21185 wrote: »

Just went down to my Village post office, the lady said they went out of circulation and will NOT accept them anymore. I have 2 £5 coins. Millenium £5 and Queen Victoria 2001 £5 coin. Sill got the protective wrapper on them. Dam!!!!!!!

A clearing bank may still exchange them for a £5 note, five 1 pound coins, or whatever.

VoucherMan

The Royal Mint are still making them, and they're legal tender.
http://www.royalmint.com/store/BritishBase/PC60.aspx


http://www.royalmint.com/Corporate/facts/coins/FivePoundCoin.aspx

Each new crown issue is authorised by Royal Proclamation, as required by the Coinage Act of 1971. A crown therefore has legal tender status, but since it is not a circulation coin, most retailers will refuse to accept it. In recognition, however, that some people may wish to exchange a crown piece given or purchased as a souvenir, post offices have agreed to accept crowns in exchange for goods and services.

fatpiggy

I remember my granddad giving me a half crown for my birthday - I felt so wealthy!!

As an aside I worked with a chap whose daughter was high up in the Royal Mint at Pontyclun...

thesmiddy

lalande21185 wrote: »

Just went down to my Village post office, the lady said they went out of circulation and will NOT accept them anymore. I have 2 £5 coins. Millenium £5 and Queen Victoria 2001 £5 coin. Sill got the protective wrapper on them. Dam!!!!!!!

How much do you want for the millenium £5?