Thanks a Ton!

To celebrate 2015 the Royal Mint has introduced £100 coin.  It will be sold at “face value”, which means that you pay £100 for it, then in theory you could trade it for £100 worth of merchandise, just like real money, or add it to your collection, which is what we assume most buyers will be doing.  Disturbingly enough the Royal Mint Website where you can purchase your very own £100 coin for the bargain price of £100 is experiencing unprecedented demand, so you might be better off phoning them, apparently.  With a picture of Big Ben on one side, and the Queens head (obv) on the other,

The UK’s first £100 coin available at face value, struck in a full two ounces of 999 fine silver

– Royal Mint Website

Currently, silver is retailing at £10.09 per ounce (figure accurate as of 01/01/15) meaning that you get the pretty pictures on the coin for the bargain price of £79.82.  Excitings.

Always wanting to play devil’s advocate, however, we in the Newsnibbles office can foresee a number of issues with having £100 coin.  You know when a pound falls out your pocket and you find it 6 months later down the back of the sofa, or when you put it through the wash and it breaks the washing machine and you have to call the engineer out?  Also, think of the problems you would have in shops.  One source who works with a till told us another potential problem for retailers:#

I only have a £30 float.  It’s bad enough when people try to pay for a chocolate bar with a £20 note, it uses up all my change and leaves me with one note that is no use to anyone.  Now if I have to change up a £100 coin I’ll need to raise my float to £1o0, and then I’ll be stuck with one coin.  I will be constantly going to the bank, which isn’t close by.

At that point she started to cry, said something about resigning and ran out the room, so we felt it would be sensitive to end the interview there.

So, there you have it.  If you have a ton going spare, why not treat yourself to the UK’s first £100 coin.  And if you do we would love to see a photo of you modelling it.

Happy New Year Nibblers.