# Prince William Commemorative coin

**URL:** <https://boards.straightdope.com/t/prince-william-commemorative-coin/183143>\
**Category:** The BBQ Pit\
**Created:** [June 20, 2003, 1:15pm UTC](https://boards.straightdope.com/t/prince-william-commemorative-coin/183143 "2003-06-20T13:15:09Z")\
**Posts on this page:** 4\
**Page:** 3

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**Author:** ![DogMom](https://avatars.discourse-cdn.com/v4/letter/d/e9c0ed/32.png) [@DogMom](https://boards.straightdope.com/u/DogMom)\
**Post date:** [June 23, 2003, 2:52pm UTC](https://boards.straightdope.com/t/prince-william-commemorative-coin/183143/41 "2003-06-23T14:52:41Z")

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> [@](#):
>
> \*Originally posted by Nuke \*  
> \*\*1 KG of gold = 35.2 oz  
> 35.2 oz times ~$350 per ounce = $12320 of bullion value  
> plus a bit for markup and the ugly portait. So $14500 really isn’t **THAT** out of line. \*\*

Hm. Re-running the numbers:

1KG of gold = 32.16 troy ounces [(conversion chart)](http://www.onlygold.com/TutorialPages/conversion_tables.htm)  
32.16 x USD355.50 =$11432.88 [(current gold price)](http://money.cnn.com/markets/commodities.html)

Current value of USD11432.88 in British Pounds: [6859.73](http://money.cnn.com/markets/commodities.html)

Over 100% markup. Zowie.

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**Author:** ![samclem](https://avatars.discourse-cdn.com/v4/letter/s/a9a28c/32.png) [@samclem](https://boards.straightdope.com/u/samclem)\
**Post date:** [June 24, 2003, 1:33am UTC](https://boards.straightdope.com/t/prince-william-commemorative-coin/183143/42 "2003-06-24T01:33:41Z")

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**kfwilkinson**. The coin will cost the Alderny issuers $11,432.88 US each, just in material cost. They will also pay the British Royal Mint for the labor involved in making/designing the “coin.” They’re selling the coins for US $14,500. They’re making less than $3000 US on a cost of over $11,432.88. Not exactly a 100% markup. But a bad buy.

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**Author:** ![Marine\_One](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/marine_one/32/3461_2.png) [@Marine\_One](https://boards.straightdope.com/u/Marine_One)\
**Post date:** [June 24, 2003, 3:31pm UTC](https://boards.straightdope.com/t/prince-william-commemorative-coin/183143/43 "2003-06-24T15:31:46Z")

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“How _you_ doin’???”

And he needs a lot of gold chains.

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**Author:** ![DogMom](https://avatars.discourse-cdn.com/v4/letter/d/e9c0ed/32.png) [@DogMom](https://boards.straightdope.com/u/DogMom)\
**Post date:** [June 24, 2003, 3:52pm UTC](https://boards.straightdope.com/t/prince-william-commemorative-coin/183143/44 "2003-06-24T15:52:11Z")

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> [@](#):
>
> \*Originally posted by samclem \*  
> \*\ ***kfwilkinson**. The coin will cost the Alderny issuers $11,432.88 US each, just in material cost. They will also pay the British Royal Mint for the labor involved in making/designing the “coin.” They’re selling the coins for US $14,500. They’re making less than $3000 US on a cost of over $11,432.88. Not exactly a 100% markup. But a bad buy. \*\*

They’re selling the coin for 14,500 British Pounds, which is currently worth USD 24,070.  
Considering they’re paying only USD 11,432.88 for the material, even WITH the labor involved that’s still a HUGE markup. They’re making over $12,000 on each of them. And of course the production costs such as coin design, die making, stamping, etc. is amortized out over the entire run, instead of on just one coin.

(Parenthetical note: Gold’s under $350 / ozt now…value of them things is dropping fast…)

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