£5 For £5 - Five Pound Coin for Five Pounds

Why are there so many companies offering to sell you a 5 pound coin for £5?
These companies include the Royal Mint, Westminster Collections, and the so called London Mint Office.
The answer is that these offers are "loss leaders" to get your name and address onto their mailing lists.

Why?
These three companies, and a number of others, are marketing companies, rather than traditional coin dealers, and their aim is to maximise the profit they make from you, and from the marketplace.
By getting you hooked, especially with a "bargain" deal or a special offer, they intend to follow up by offering your more items on which they will make more profit.

Overpriced
While some of the items these companies sell are reasonably and competitively priced, many of the follow up items are, in our opinion, overpriced.
We have seen high priced coins offered for sale at two to three times the price we would have been asking!

Inertia Selling
In addition, some of the offers are for "continuation collections", whereby you will receive one item per month, or similar arrangement. Often there is an inertia element built in to the order process, so that that you order the first item, you are actually agreeing to them sending you each follow up item. While this is almost always subject to your approval and a return option, many people don't bother to return the items, and some of the companies require you to telephone a special number to obtain a returns reference number before they will accept the returns. We have heard from many angry purchasers who have been frustrated because they have not been able to get in touch with the vendors to arrange returns,

Best Avoided
Even if these companies have got what you wish to buy, we believe that they are often better avoided, and you can almost always get a better deal elsewhere.

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Author & Copyright Notice
This page was written by Lawrence Chard of Chard Coins, and is extracted from our "Gold Sovereigns" website. We hope you find this page useful and informative, please feel free to use the information we have provided, but please note we retain copyright on all contents including both textual content and images. Please do not copy our text or images without our prior written permission.