The true value of the Queen’s Diamond Jubilee Medal

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The Queen’s Diamond Jubilee Medals are causing a bit of a stink in the press as so many of them are being flogged on eBay.

The exclusive medals were awarded to Members of the Forces, the Royal Household, emergency services personnel, prison officers and holders of the Victoria Cross and George Cross who have served five full calendar years on 6 February 2012. They were supposed to be a reward to people who “like The Queen, also dedicate their lives to public good and who represent the very best of the British spirit“.

I’m trying to equate the “very best of the British spirit” with “immediately flogging your gong on eBay”. It’s not surprising though with prices having topped anything up to over £250 that there are a few prepared to turn their trinket into hard cash.

It’s not like the medals are even that rare or valuable. On the rarity side there were 450,000 made, so that means on in every 150ish people in the country got one. The real value is about fifteen quid – the contract to manufacture the medals was worth £7 million (an average cost of around 10p to every man woman and child in the UK) and awarded to Worcestershire Medal Services who manufactured them in Birmingham’s jewellery quarter.

If you’ve been awarded a medal it seems a bit churlish to flog it for a few quid, but realistically most people will admire it and tuck it away in a drawer where it’ll never see the light of day again. It’s not like the average recipient will have have occasion to wear it.

If you’re not an ardent monarchist I guess capitalism and selling your £15.50 trinket makes sense. Those who are first to put monetary gain above the expected gratitude to the nation raked in the highest return. Prices have already tumbled so get yours listed while someone will still cough up a decent sum. Selling values are currently around £100.00 for genuine Queen’s Diamond Jubilee Medals, but if you’re not precious about buying an original you can also get a replica for about twenty quid on eBay.

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