Irish Euro Gold and Silver Commemorative coins

hexosan · 11-04-2013 8:31am

Is the coins release still going ahead today and do you think this mistake will increase the interest in the coin.
I feel sorry for this government it seems they just walk from one PR cock up into another. They can't catch a break.

DMcL1971 · 11-04-2013 1:27pm

The Central Bank have updated the text on their website by adding the following.

The Central Bank acknowledges that the text on the Joyce coin does not correspond to the precise text as it appears in Ulysses (an additional word “that” has been added to the second sentence). While the error is regretted, it should be noted that the coin is an artistic representation of the author and text and not intended as a literal representation.

The coin will continue to be available for purchase. Anyone purchasing the coin will be informed as to the error in the text. Anyone who may already have purchased the coin and wishes to return it will be facilitated with a full refund.

11-04-2013 3:12pm

DMcL1971 wrote: »

The Central Bank have updated the text on their website by adding the following.

The Central Bank acknowledges that the text on the Joyce coin does not correspond to the precise text as it appears in Ulysses (an additional word “that” has been added to the second sentence). While the error is regretted, it should be noted that the coin is an artistic representation of the author and text and not intended as a literal representation.

The coin will continue to be available for purchase. Anyone purchasing the coin will be informed as to the error in the text. Anyone who may already have purchased the coin and wishes to return it will be facilitated with a full refund.

I picked up one in the Central Bank this morning, huge queue to buy the coin, must have been 20 people in the queue before me.
Also given a slip of paper explaining the error.

DMcL1971 · 11-04-2013 3:20pm

I wonder if that queue is just the normal one you would get on the first day, or whether more people are buying it in the hopes that the error might make it more valuable?

Personally, I don't think this error will make any difference to the value. It would only happen if there were a limited number of error coins and then the coin was replaced with a corrected coin with a higher mintage. Then the errors would be rare.

11-04-2013 3:53pm

DMcL1971 wrote: »

I wonder if that queue is just the normal one you would get on the first day, or whether more people are buying it in the hopes that the error might make it more valuable?

Personally, I don't think this error will make any difference to the value. It would only happen if there were a limited number of error coins and then the coin was replaced with a corrected coin with a higher mintage. Then the errors would be rare.

I normally buy coins on the first day of issue in the Central bank, and apart from the Michael Collins coin, there usually isn't much of a queue, maybe 2 or 3 people. I heard someone say that they had come up from Galway to buy it.
I think this coin will sell out quickly.

DMcL1971 · 11-04-2013 4:21pm

You could be right. This error is giving the coin a lot more coverage than any previous release. Also the mintage figure of 10,000 is quite low.

Blade · 11-04-2013 5:26pm

Someone mentioned the 'error' to me in the pub last night and asked would it increase the value. I said the same thing, not if all of them have it. It would be different if they released 1,000 of them then halted production and corrected it for the other 9,000. However like you say if people start thinking the opposite and start panic buying they could sell out quicker than expected. I think though that when reality sinks in that there's nothing special about them the prices will normalise.

10,000 is not exactly low, there's lower mintage coins still available from the CB going back a couple of years. Personally I wouldn't panic, maybe buy 1 or 2. It's possible we'll see the usual chancers on the likes of Adverts hyping it up and looking for mad money for them, but don't fall into that trap, reality will set in quick enough.

The fact that is says on the CB website "Sales of this coin are limited to 3 coins per customer" might be a hint that sales are going a bit faster than they expected, same was said about the Collins coins but not on any of the others.

Pablo Sanchez · 11-04-2013 6:43pm

I ordered my coin via the postal order form some 10 days ago but my card is yet to be debited, has the same thing happened to anyone else?

DMcL1971 · 11-04-2013 6:51pm

They usually don't debit your card until the day the coin is actually posted to you. If you are concerned you can ring them to verify they actually received your order. It usually takes them a few days (or longer) to get all the post sent out.

jkbrgs · 11-04-2013 11:24pm

My dad is ill and quite keen to get one of the Joyce commemorative coins. Is it possible to order one and pay by debit card or is it essential to be one of the first in line at the Central Bank tomorrow?

I've looked at the Central Bank's website but I'm still unsure.

Edit: Apologies. I've found the order form. It's probably better to go in person than to rely on the post.

DMcL1971 · 12-04-2013 12:25am

You can just ring the Central bank's collector coin unit on 1890 307607 and order one using a debit or credit card. It will be €46 plus €7 for delivery. It's a lot handier than going in or relying on the post.

jkbrgs · 12-04-2013 12:55am

That's very helpful. Thank you DMcL.

Backfire · 12-04-2013 11:12am

Well i sent my order form off in the post the day after i got the letter in the post about it. So i should get mine. And yes i agree with others, the error will have no impact on the coin's value since all 10k of them will have it.

Blade · 12-04-2013 2:21pm

Blade wrote: »

It's possible we'll see the usual chancers on the likes of Adverts hyping it up and looking for mad money for them

http://www.adverts.ie/coins-notes/james-joyce-10-euro-silver-coin/2923400

Has it actually sold out today?

hexosan · 12-04-2013 3:28pm

Spoke to an official in the central bank, the coin sold out around 2pm today.

Backfire · 12-04-2013 3:32pm

hexosan wrote: »

Spoke to an official in the central bank, the coin sold out around 2pm today.

Thats a big surprise in my mind, even with the reported error, 10K is a lot to sell in 2 days.

Blade · 12-04-2013 3:51pm

Must have been all the hype about the 'error', oh well I hope you all got some

DMcL1971 · 12-04-2013 3:53pm

It's alway difficult to predict what will happen, but I imagine there is going to be flurry of excitement intially on adverts and ebay for this coin.

Firstly, because there has been more talk about this coin in the press than any previous coin.
Secondly, now that it is sold out people will think they have missed out on something special and will want to buy one.
Thirdly, Joyce fans and coin collectors who were not in a rush to buy one will now feel they have to act fast to get one.
Fourthly, people will mistakenly think that the error makes it more valuable.

So I wouldn't be surprised if the value shoots up initially but settles back down again when people realise there is nothing special about this coin.

Of course I could be completely wrong.

hexosan · 12-04-2013 4:01pm

When I spoke with them today they wouldn't take the order just said that they were taken names and would ring people back next week. Just received the phone call now and they took my order but said its 4/5 weeks for delivery. Hopefully it'll arrive. The order was restricted to one coin. The girl said it was because of the media coverage that the coin sold out. Everyone was asking about its rarity and the error.

Blade · 12-04-2013 4:07pm

I wouldn't mind I actually got an invitation to the official launch where I could have got as many as I wanted before they went on sale to the general public. Still I didn't think much of it and didn't bother going, but they must have been expecting big interest from the Joyce fans. Anyway I just about got an order in which will be sent by post, a lot handier than going to the CB and queuing for 2 hours if that's what happened today and yesterday.

hexosan · 12-04-2013 4:25pm

Blade wrote: »

I wouldn't mind I actually got an invitation to the official launch where I could have got as many as I wanted before they went on sale to the general public. Still I didn't think much of it and didn't bother going, but they must have been expecting big interest from the Joyce fans. Anyway I just about got an order in which will be sent by post, a lot handier than going to the CB and queuing for 2 hours if that's what happened today and yesterday.

I often wondered how you get invited to these launches.

Cavehill Red · 12-04-2013 4:37pm

Blade wrote: »

I wouldn't mind I actually got an invitation to the official launch where I could have got as many as I wanted before they went on sale to the general public. Still I didn't think much of it and didn't bother going, but they must have been expecting big interest from the Joyce fans. Anyway I just about got an order in which will be sent by post, a lot handier than going to the CB and queuing for 2 hours if that's what happened today and yesterday.

There was no 2 hour queue at any point, I don't think. 20 minutes perhaps, but no longer than that. I was in yesterday, and my kid was in today, and while there was a constant queue both times (and a pal who works in the building said there was a queue from when the doors opened until they shut yesterday), it was acquitted quickly enough because there was never more than a few dozen people in it.
That said, they sold 7,000 on the first day and sold out by lunchtime on the second, which is unprecedented. Coins were limited to 3 apiece, later reduced to two. There is a large Joycean market for this as well as a coin collector market. I wouldn't be surprised to see it do as well over time as the Collins coin has. Maybe better.

DMcL1971 · 12-04-2013 4:40pm

The Central bank just updated their website to confirm the coin is sold out.

The Silver Proof €10 coin in honour of James Joyce is now sold out. The coin went on sale on 11 April 2013 and a total of 10,000 coins were minted.

We would like to express our thanks to customers for their unprecedented interest in the coin.

Blade · 12-04-2013 4:50pm

Cavehill Red wrote: »

There was no 2 hour queue at any point

Guy's bull$hitting on Adverts so, no surprise there.

Cavehill Red · 12-04-2013 4:58pm

Unless someone chose to wait a couple of hours for the office to open this morning, there was nobody queuing for two hours. It might have hit a half hour towards the end today, I dunno. I was 15 minutes and my kid 20 waiting.
Already attracting a 14 euro premium nonetheless. Like others I expect that to go higher quickly, and then settle back. The Collins coin is widely available for around the 85 euro mark these days and has been for some months. This has been more popular again with arguably even wider global appeal, so I wouldn't be surprised to see it do well.

DMcL1971 · 13-04-2013 6:43pm

The two Joyce coins that were for sale on adverts both sold for their asking price of €100 and I suspect they could have gone higher if the asking price was higher.

Cavehill Red · 13-04-2013 6:58pm

I may have to rethink my plan to give a couple away as gifts in that case! Ah, it might shoot up in the immediate term but I expect it will then come back to settle at a price point.

Backfire · 13-04-2013 7:51pm

Cavehill Red wrote: »

I may have to rethink my plan to give a couple away as gifts in that case! Ah, it might shoot up in the immediate term but I expect it will then come back to settle at a price point.

Yes i expect the same, around €80 - €90 price.
I am watching ones on ebay being sold by a german seller, curious on what they will go. But expect the high prices to be temporary.

Cavehill Red · 13-04-2013 8:19pm

Backfire wrote: »

Yes i expect the same, around €80 - €90 price.
I am watching ones on ebay being sold by a german seller, curious on what they will go. But expect the high prices to be temporary.

The chap who runs the coin market in Dublin's George's St is asking over 100 for the Collins coin, though it is available widely for about 85 online.
I'd expect ultimately the Joyce coin to settle in a similar range in time. Of course, that doesn't mean that some people won't get carried away and spend more than that in the short term.

corkcoins · 14-04-2013 8:21am

those on adverts are at 120€ now while some are going on ebay ranging from 50€. wonder if the hype has died out.

Irish Euro Gold and Silver Commemorative coins

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