Price help with UK proof sets please

drjules

I have a few UK proof sets that I would like to sell and I would appreciate it if someone out there could give a good estimate of the current value. The first ones I want to sell are 1999, 2004 and 2005. All are FDC with box and COA

Thanks in advance

Dr J

SYRACUSIAN

OT, but I hear that the NCLT 5 pound cu ni coins that were often included as extras in these sets, (not the silver ones), are now circulating legal tender coins in the UK and often used in transactions, is that a fact? That's a coin worth $10 in face value that we're talking about.


The euro's biggest mistake was that they did not print notes for the one and two euros. The US will regret an eventual replacement of its one dollar bills with coins IMHO.

Cruzi

Continuing OT:

I believe there is an Economics Model used to determine what value coins are used, for example: average daily wages have to reach $200 for $5 coins to be introduced.

Another factor is simple economics, a paper $1 note lasts 8 months, a coin has planned life of 30 yrs. So whilst colins are more expensive initially, they last much, much longer.

Australia has used $1 coins since 1984 and $2 since 1988, with 1&2 cent coins being withdrawn since 1991, no-one is any worse or better off (However when you wake up after a night on the turps you can find $50-80 in change in your pockets)

SYRACUSIAN

Another factor is simple economics, a paper $1 note lasts 8 months, a coin has planned life of 30 yrs. So whilst colins are more expensive initially, they last much, much longer.



In the US. Agreed.


But what many people often neglect, is the millions of people in third world countries around the world, who are saving dollar bill per dollar bill (often a full day's work pay),and are putting them under their matress with the intention to save enough money until they'll be able to immigrate to the States or Europe one day. The euro will never replace the dollar in the hearts and dreams of these people and it's essential for it to be a note. Noone respects coins, they're almost useless daily change that we often try to get rid off, even us, collectors.

Which is why I think that the high value coins such as the pound, AU$, or euro are a mistake, let alone the inflation that they bring along.

drjules

OK I'll carry on OT

I'm old enough to remember the introduction of the pound coin in England and the discussion it provoked. Its interesting how people see high denomination as a cause of inflation rather than a symptom. By the same token (pun anyone?) is it anti-inflationary to maintain the penny / cent?

Dr J

Cruzi

Sorry about hijacking your thread Dr J

Dimitri I hear what you are saying about ppl hoarding up those notes, but is the US de-monetising them?

The reason I ask is you can still spend $1 and $2 notes here if you have them, and any bank will accept them, its just they are not used anymore, same applies to the 1 & 2 cent coins.

Dr J made a good point, inflation increases wages (and vice versa), which leads to the benchmarks being reached in that model which then introduces the coins, not the reverse.

tonyhar

I have not seen many £5 coins in circulation ( UK or Manx ) but I do know that they do circulate on occasion. The £2 coin took a while to be accepted but is now readily circulating.

drjules

<< <i>Sorry about hijacking your thread Dr J >>



No problem, erm I still need those prices those if anyone has them to hand. Oh and a price for the 1989 set would be good too

Dr J

SYRACUSIAN

DrJ I too apologize, let alone that I do not have the answer to your question.



Dimitri I hear what you are saying about ppl hoarding up those notes, but is the US de-monetising them?


I don't think so, but my initial reaction was to the British 5 pound super coin. It's too much money for one coin. Tony almost confirmed its existence in circulation, even if it will not become a common sight in the Isle of Man as fast as in London. As for the inflation part, you're right too, but there are always people who will take advantage of such situations. When the euro was introduced in Greece 5 years ago, I've noticed several products that used to cost 100 drachmas (29 eurocents) immediately jumped to one euro, and those that cost 50 drs, such as a small bottle of water in a kiosk is now sold for 50 eurocents. That's a 340% increase, and wages will catch up somewhere around 2025...