Author Topic: Coin dealer sues The Royal Mint over toned proof coins  (Read 247 times)

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Offline eurocoin

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Coin dealer sues The Royal Mint over toned proof coins
« on: October 07, 2020, 08:15:03 PM »
Tomorrow at 9am a court case begins that was started by British coin dealer Coin Hunter against The Royal Mint. According to the dealer the proof coins that The Royal Mint has been selling since 2016 tone very easily because of the chemical composition of the foam in the capsules. Independend chemical analysis has been done on the components of the foam. Around 2016 The Royal Mint got a new supplier for the packaging. The Royal Mint has received numerous complaints about the brown toning but says it is normal. The dealer invites other dealers and collectors to join his action against The Royal Mint so that they too can be compensated for the damage they have incurred because of the decreased value of their coins.


Offline Figleaf

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Re: Coin dealer sues The Royal Mint over toned proof coins
« Reply #1 on: October 07, 2020, 08:48:34 PM »
The dealer invites other dealers and collectors to join his action against The Royal Mint so that they too can be compensated for the damage they have incurred because of the decreased value of their coins.

According to Wikipedia, you can join a legal action in the way of a class action suit only in competition law cases, so this case wouldn't qualify. If the dealer would have found a Dutch or US lead plaintiff (with himself in the background and his lawyers in charge), the action could have proceeded as a class action suit before a US or Dutch court and others could have joined. BTW, it is not necessary in a class action suit to become a plaintiff to get compensated if the suit is successful or settled. It is enough to register in the class.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline Deeman

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Re: Coin dealer sues The Royal Mint over toned proof coins
« Reply #2 on: October 07, 2020, 09:13:48 PM »
Amazing to see such toning on a coin less than two years old. How could the RM possibly say that such toning is normal when it apparently wasn't common prior to 2016?
Apart from that, I personally don't see the need for foam. I suppose it allows the use of a single size capsule and use of foam inserts to adapt for varying coin sizes.

Offline eurocoin

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Re: Coin dealer sues The Royal Mint over toned proof coins
« Reply #3 on: October 07, 2020, 10:39:50 PM »
According to Wikipedia, you can join a legal action in the way of a class action suit only in competition law cases, so this case wouldn't qualify. If the dealer would have found a Dutch or US lead plaintiff (with himself in the background and his lawyers in charge), the action could have proceeded as a class action suit before a US or Dutch court and others could have joined. BTW, it is not necessary in a class action suit to become a plaintiff to get compensated if the suit is successful or settled. It is enough to register in the class.

Peter

That is interesting to know. I did not know this difference existed between the different jurisdictions. Class actions interest me, certainly also as I am currently involved in one as a claimant (one of many), but unfortunately I have never really had time to look further into them. I suspect that the coin dealer may be aware of this and that the 'joining his fight' will merely consist of the other dealers and collectors provinding photos and information about their toned coins so that his case gets stronger. If he wins the case, these people can then subsequently also make their claims against The Royal Mint if The Royal Mint accepts responsibility. If not, they can force The Royal Mint to pay by starting a case themselves, which is likely to be a much smaller case as the verdict in the other case will be important evidence.

Offline eurocoin

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Re: Coin dealer sues The Royal Mint over toned proof coins
« Reply #4 on: October 20, 2020, 05:52:30 PM »
For anyome interested. All things that have so far happened and that will in the future happen in this case can be found here.

Offline eurocoin

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Re: Coin dealer sues The Royal Mint over toned proof coins
« Reply #5 on: October 27, 2020, 11:13:34 PM »
The case has been settled. The Royal Mint is refunding customers who bought 2019-dated coins that have started toning. The results of the chemical analysis of the foam, and the reaction of silver when it comes into contact with the substance, are expected to be published later this week.