h a l f b a k e r y"It would work, if you can find alternatives to each of the steps involved in this process."
add, search, annotate, link, view, overview, recent, by name, random
news, help, about, links, report a problem
browse anonymously,
or get an account
and write.
register,
|
|
|
If you buy a special edition 'poppy' £5 coin the company producing
them donate 17p to the Royal British Legion.
The coin is legal tender and costs £5.
The RBL must have some money in the bank, let's say £5 million to
keep things simple.
They could buy 1 million of these coins, which
they would pay straight
back into their bank account. Now all they have to do is wait for their
£170,000 donation.
Repeat ad infinitum.
Poppy Coin
http://www.westmins...O7rQCFW7HtAod-HQAYg [MikeOliver, Jan 17 2013]
The Royal Mint
http://www.royalmint.com/ Licensed to stamp out money
[8th of 7, Jan 17 2013]
Please log in.
If you're not logged in,
you can see what this page
looks like, but you will
not be able to add anything.
Annotation:
|
|
Sounds somewhat like a "scrip" fundraiser, but without any benefit for the copany producing the coins. |
|
|
ah.... somewhere in there you could have inserted "so the idea is..." |
|
|
This is Quantitative Easing through alternate channels - if you accept QE as acceptable, it may be further acceptablised by making charitable organisations the primary benefactees, instead of the banking industry. |
|
|
You did catch the "legal tender only in Jersey" note,
right? And yes, I know the Jersey Pound is nominally
exchangeable 1:1 with Sterling, I suspect you might
have a problem with this one, since there is no 5
Pound Sterling coin. |
|
|
// the company producing them // |
|
|
That would be the Royal Mint. |
|
|
Actually, there is a £5 sterling coin. They come in a wide range of
designs and are aimed at the collector's market. |
|
|
If it's like the 'charity strikings' occasionally produced by
the US Mint, the donation comes out of the 'face value'
(i.e. retail cost) of the coin, meaning that a charity buying
its own coins is just moving money around and probably
paying bank fees. |
|
|
Is it the royal mint for Jersey, or do they have
their own. And I guess I should have said no
general circulation 5 Pound coin. |
|
|
Which does mean the idea seems valid assuming
you could find a place that actually would
exchange these for other currency (which it
appears to be that you should, but probably can't).
I also suspect there is a relatively limited supply. |
|
|
[Alter] The point is that the coin is legal tender
for it's selling price, despite the donation (at least
if you live in Jersey). So there is no face value
gain. |
|
|
// //The company producing them// |
|
|
That would be the Royal Mint // |
|
|
Trading as 'The Westminster Collection'. |
|
| |