BusinessTalk: Nick Clegg on helping Yorkshire business deliver - yorkshirepost BusinessTalk: Nick Clegg on helping Yorkshire business deliver - yorkshirepost

Tuesday, May 29, 2012

BusinessTalk: Nick Clegg on helping Yorkshire business deliver - yorkshirepost

BusinessTalk: Nick Clegg on helping Yorkshire business deliver - yorkshirepost

WHERE does the government stand on employment law? We speak directly to Nick Clegg. Listen to informed debate in your weekly business programme from the Yorkshire Post.

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Visiting Sheffield for the launch of the MADE Entrepreneurs’ Festival, Mr Clegg made a significant intervention in the row over proposals for “no fault dismissal”, which are awaiting the results of a government consultation.

We asked him whether the report would really help entrepreneurs become more successful. Hear the interview in full, in this week’s programme.

Also in the programme:

• Get on a plane and sell: The head of Deloitte updates Norman Tebbit’s old mantra.

• Yorkshire Cricket Club’s commercial aspirations.

• We launch the 2012 Yorkshire Post Excellence in Business Awards.

Digital Editor David Behrens is joined in the studio by the Yorkshire Post’s Business Editor Bernard Ginns and Deputy Business Editor Greg Wright.

The next edition will be on Tuesday, June 12

Visit our BUSINESS TALK HOME PAGE with full programme archive and options to receive programmes automatically

 

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That seems like a really good idea of the banks, at least they're being fair and warning people first, rather than just sending the bailiffs round and telling them to go and repossess the house. I've cut back on a lot of things myself due to common sense, including switched to PAYG mobile on GiffGaff so I'm now only paying £10 per month rather than £25, and my mum and sister both pay for Sky TV, personally I'd cancel it tomorrow 'cos the amount of repeats on it every day it's just not worth it, the only channels that are worth watching are free anyway when you remove the


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European, Asian Stocks Advance on U.S. Economic Optimism - Bloomberg
Enlarge image U.S. Stocks Rise on Greek Optimism

U.S. Stocks Rise on Greek Optimism

U.S. Stocks Rise on Greek Optimism

Scott Eells/Bloomberg

A trader works at the New York Stock Exchange (NYSE) in New York.

A trader works at the New York Stock Exchange (NYSE) in New York. Photographer: Scott Eells/Bloomberg

U.S. stocks rose, adding to last week’s rally, amid speculation Greece will stay in the euro after polls showed voters supporting politicians who back the nation’s bailout. Commodities erased earlier gains while Treasuries advanced.

The Standard & Poor’s 500 Index added 0.9 percent at 3:19 p.m. in New York, paring a rally of as much as 1.3 percent. The Stoxx Europe 600 Index (SXXP) climbed 0.8 percent and the MSCI Emerging Markets Index jumped 1.3 percent. The Dollar Index, a gauge of the currency against six major peers, added 0.1 percent as the euro weakened 0.4 percent to an almost two-year low of $1.2488. Ten-year Treasury yields were little changed at 1.73 percent. The S&P GSCI Index of commodities lost 0.4 percent.

U.S. equities gained after Greece’s New Democracy party placed first in all six opinion polls published on May 26 as campaigning continued for the general election on June 17. U.S. markets were closed yesterday for the Memorial Day holiday. Home values in 20 U.S. cities fell in the 12 months ended March at the slowest pace in more than a year, a report showed today, while the Conference Board’s gauge of consumer confidence unexpectedly dropped.

“There’s also a bit of relief that we won’t have any imminent kicking-out or defaulting of Greece,” Brad Sorensen, director of market and sector analysis at San Francisco-based Charles Schwab Corp., said in a phone interview. His firm has $1.83 trillion in client assets. “We’re definitely seeing signs of stabilization on the housing front. The economy is looking decent. Relatively speaking, the U.S. is a good place to be.”

‘Old Way’

Stocks also rose amid speculation China will do more to stimulate its economy. The nation has no plans to introduce measures on the scale deployed during the global financial crisis, the official Xinhua News Agency reported.

“The Chinese government’s intention is very clear: It will not roll out another massive stimulus plan to seek high economic growth,” Xinhua said today in the seventh paragraph of a Chinese-language article on economic policy, without attributing the information. “The current efforts for stabilizing growth will not repeat the old way of three years ago.”

The S&P 500 increased for the fifth time in six trading sessions. The index on May 25 capped its first weekly rally since April, jumping 1.7 percent, as investors were lured by the cheapest valuations since November.

Rebound After Slump

Equities rose after a three-week, 7.7 percent decline pushed the S&P 500’s price-to-earnings ratio to 13.1 on May 18, below the average of 16.4 since 1954, according to data compiled by Bloomberg. The benchmark gauge started today’s session down 5.7 percent in May, heading for its biggest monthly retreat since September, amid concern global economic growth is slowing and Greece may leave the euro area.

Indexes of commodity and technology companies led gains among all 10 of the main industries in the S&P 500 today, rising at least 1 percent. Caterpillar Inc., Alcoa Inc. and Bank of America Corp. rose at least 2.4 percent for the biggest gains in the Dow Jones Industrial Average.

Facebook Inc. shares fell to a new low, extending losses from the worst-performing large initial public offering during the past decade to more than 20 percent. The stock fell as much as 10 percent to $28.65. Facebook options trading began today, with volume for puts exceeding calls by 1.3-to-1, data compiled by Bloomberg show. More than 180,000 puts giving the right to sell traded. June $30 puts were the most-active contracts, with volume topping 22,000.

The S&P/Case-Shiller index of property values fell 2.6 percent from a year earlier after a 3.5 percent drop in February, the group reported today in New York. The decline matched the median forecast of economists surveyed by Bloomberg News. The Conference Board’s consumer confidence index decreased to 64.9 this month from 68.7. Economists forecast an increase to 69.6, according to the median estimate in a Bloomberg survey.

European Shares

Three stocks rose for every one that fell in the Stoxx 600. CGGVeritas, the world’s largest seismic surveyor of oilfields, and ArcelorMittal, the biggest steelmaker, rose more than 4 percent as analysts upgraded the shares. Greggs Plc, a U.K. baker, jumped 8.1 percent as Chancellor of the Exchequer George Osborne reversed a plan to add value-added tax to some snacks.

Bankia SA led a decline in Spanish stocks, sliding 16 percent. Spain backtracked on a plan to use government debt instead of cash to bail out Bankia, as Prime Minister Mariano Rajoy struggles to shore up the nation’s lenders without overburdening public finances.

Bankia Bailout

An Economy Ministry spokesman said yesterday that the government was considering using an injection of treasury debt instead of cash to recapitalize BFA-Bankia, as laid out in legislation approved in February. Spanish bond yields rose and investors criticized the idea, which the spokesman, speaking anonymously under ministry policy, said today had become a “marginal” option for the 19 billion-euro ($24 billion) rescue.

Spain’s 10-year yield decreased three basis points to 6.45 percent today after surging 17 points yesterday. The nation’s two-year yield increased 16 basis points to 4.63 percent today, rising for the third straight day. Spain’s sovereign credit rating today was cut by Egan-Jones Ratings Co. to B from BB- on the country’s deteriorating economic outlook.

Volatility on Japanese bonds was the highest in developed markets today, according to measures of 10-year debt, the two- and 10-year yield spread and credit-default swaps. The yield on the 10-year security dropped 3 basis points to 0.85 percent.

‘Ultimate Arbiter’

The euro weakened against 14 of 16 major peers, losing 0.7 percent versus the Mexican peso and 0.6 percent against the South African rand. Stephen Roach, a professor at Yale University and former non-executive chairman for Morgan Stanley in Asia, said euro-area authorities will do all they can to prevent a breakup of the 17-nation currency bloc.

“While you could make the case that Greece should leave because it gets its currency flexibility back, the ultimate arbiter will be political considerations,” Roach said in an interview with Tom Keene on Bloomberg Radio’s “Bloomberg Surveillance” today. “On that basis, Greece will stay in and European leaders will do everything in their power to keep the monetary union intact.”

The S&P GSCI gauge of 24 commodities decreased 0.5 percent, reversing a gain of as much as 0.9 percent. Crude in New York slipped 10 cents to $90.76 a barrel after climbing as much as 1.5 percent. Natural gas fell 5.4 percent, bringing its decline since May 23 to more than 11 percent, on forecasts for cooler weather that would curb demand for fuel at power plants.

Emerging-market stocks gained for a fourth day. The Hang Seng China Enterprises Index (HSCEI) of Chinese companies listed in Hong Kong climbed 2.2 percent. Taiwan’s Taiex jumped 2.9 percent and South Korea’s Kospi Index added 1.4 percent. Russia’s Micex Index advanced 2.4 percent.

To contact the reporters on this story: Stephen Kirkland in London at skirkland@bloomberg.net; Rita Nazareth in New York at rnazareth@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net



Money from California's 9/11 plates not going to victims' kids - San Jose Mercury News

SACRAMENTO, Calif. -- After the 2001 terrorist attacks, California lawmakers sought a way to channel the patriotic fervor and use it to help victims' families and law enforcement. Their answer: specialty memorial license plates emblazoned with the words, "We Will Never Forget."

Part of the money raised through the sale of the plates was to fund scholarships for the children of California residents who perished in the attacks, while the majority -- 85 percent -- was to help fund anti-terrorism efforts.

But an Associated Press review of the $15 million collected since lawmakers approved the "California Memorial Scholarship Program" shows only a small fraction of the money went to scholarships. While 40 percent has funded anti-terror training programs, $3 million was raided by Gov. Jerry Brown and his predecessor, Arnold Schwarzenegger, to plug the state's budget deficit.

Millions more have been spent on budget items with little relation to direct threats of terrorism, including livestock diseases and workplace safety.

Moreover, the California Department of Motor Vehicles has been advertising the plates as helping the children of Sept. 11 victims even though the state stopped funding the scholarship program seven years ago. The specialty plate fund continues to take in $1.5 million a year.

Californians who lost loved ones in the attacks take the raid on the license plate fund as an affront to the memory of those who died.

"I can't believe that they would do that," said Candice Hoglan, who lives in the San Francisco Bay Area and bought a plate to commemorate her nephew, Mark Bingham. "We're paying extra for the plate; we're making a point, and it means a lot to us."

Bingham was killed on United Airlines Flight 93, which crashed in Pennsylvania, and was one of the passengers who led the attempt to wrest control from the hijackers. His mother, Alice Hoagland, also was troubled by the program's apparent drift from its original purpose.

"I'm sorry that as we retreat in time from 9/11, we seem to be retreating in our resolve never to forget," she said in a telephone interview.

The plates, which cost an initial $50 plus a $40 annual renewal fee, feature an American flag partially obscured by clouds and the "never forget" slogan. Residents of California, where all four jetliners were bound when they were hijacked, have bought or renewed the plates more than 200,000 times since 2002.

Of the other states directly associated with the 2001 attacks, only Virginia has established a similar specialty plate program. Yet it did not set up a special fund for the proceeds of its "Fight Terrorism" plate.

For the past decade, the California DMV has said on its website that the money will "fund scholarships for the children of Californians who died in the September 11, 2001, terror attacks and helps California's law enforcement fight threats of terrorism." It advertises the program with the slogan, "Be a patriot."

While the DMV description of the program was not "totally disingenuous," the department should probably remove references to the scholarship program, said Joe DeAnda, a spokesman for the state treasurer's office, which disburses the money.

"It's out of date and it's on DMV to update that," he said.

Late Friday, the department modified the description of the license plate on its website to remove the reference to the scholarship program in response to the investigation by the AP, which began in March. Spokeswoman Jan Mendoza said the reason promotional materials were not updated sooner was "unknown."

The DMV still lists the scholarship program on the online and hardcopy form drivers fill out to buy the license plates, but Mendoza said the department will change this next time the forms are printed.

The legislation establishing the plates had earmarked 15 percent of the revenue for scholarships. Yet only $21,381 has reached the children and spouses of the three dozen California residents killed during the terrorist attacks. The state treasurer's office closed the scholarship program in 2005, the sign-up deadline for potential recipients, and has $60,000 in reserve.

The total amount dedicated to scholarships was 1.5 percent of the $5.5 million raised through the sale of the plates through 2005.

The original legislation said the remainder of the money would go to "law enforcement, fire protection, and public health agencies" to be used "exclusively for purposes directly related to fighting terrorism."

But in 2008, former Gov. Arnold Schwarzenegger, a Republican, borrowed $2 million to close a budget gap. Last year, Brown, a Democrat, borrowed another $1 million.

Neither loan has been repaid nor are their deadlines to ensure they will be. Elizabeth Ashford, a spokeswoman for Brown, said the loans have done no harm.

"We're trying to simultaneously balance the budget and fund important programs," she said. "If there was an indication that borrowing this money was going to negatively impact this program, we wouldn't borrow the money."

The rest of the money has gone to a wide array of budgets and programs.

The Legislature sent $3.7 million to the California Department of Food and Agriculture, according to the Department of Finance, to establish an online food monitoring database and implement a variety of worker safety programs, including hiring industrial hygienists to tend to worker health.

But it is difficult to say precisely where the money has gone. Late Friday, the agriculture department delivered documents it said were in response to a California Public Records Act request the AP filed eight weeks earlier.

The response contained itemized budget reports going back six years and listing payments for all types of government functions, ranging from salaries and benefits, to printing costs and communication equipment. Among the details: $18,163 for furniture in 2006 and $11,492 for auto inspection in 2009.

The response also included a legislative report on the threats the agriculture department is targeting with an online database the license plate program helps fund . A similar report from 2006, when the license plate money was first authorized, lists bioterrorism as a potential danger. But the 2011 report focuses on food safety and livestock concerns, including foot-and-mouth disease and meat and poultry monitoring.

Director of Animal Health and Food Safety Services Annette Whiteford said the department does not track license plate money separately from other funds.

She said it would be wasteful to reserve the money exclusively for anti-terrorism work. For example, the department uses some of the money to buy safety suits that would be essential during an anthrax attack but also are useful for routine food investigations.

"The things that I worry about in the animal food safety division are very high consequence events, but very infrequent. So I always try to leverage those resources," she said.

Another $2 million has gone to programs that aim to protect Californians from all manner of potential threats, not just those related to terrorism.

The California Emergency Management Agency used nearly $1 million in memorial license plate money for general operations, including administrative costs, buying and fueling cars, and hiring a person from 2007 to 2009 to coordinate five so-called "fusion centers," according to documents obtained through a Public Records Act request.

The other $1 million went directly to the fusion centers, which were founded after the 2001 attacks to focus on terrorist threats but have since switched to an "all crimes" approach that includes gang activity and natural disasters.

Herb Wesson, who wrote the license plate bill when he was speaker of the California Assembly, said he was saddened to hear how the money had been spent.

"I understand the financial climate they find themselves in, but they are not following the spirit and intent of the legislation," said Wesson, now president of the Los Angeles City Council. "The lion's share of the money was supposed to be given to local law enforcement so that they could beef up their anti-terrorism operations."

About 40 percent of the total raised to date, or $6 million, has gone to anti-terrorism training programs for firefighters and law enforcement officers. There is a slight discrepancy between the DMV's revenue figures and the Department of Finance's expenditure figures that neither agency could explain.

Patricia Anderson, who paid $98 for a personalized memorial plate reading "WE R 4US," said she signed up for the program primarily to show respect for victims of the 9/11 attacks. Anderson said she was disheartened but not surprised to learn that much of the money has gone to fill the state deficit or used for general purposes.

"That's California," said Anderson, who now lives near Austin, Texas. "It's kind of a given these days -- nothing is spent on what it's supposed to be."



Thrifty Kate gets her money's worth out of £1,200 designer dress as she recycles Jubilee lunch outfit for Palace garden party - Daily Mail
  • Duchess of Cambridge wore same pink Emilia Wickstead dress she debuted at Queen's Sovereign's event two weeks ago

By Deborah Arthurs

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The Duchess of Cambridge notched up another landmark in her life as a royal as she shone at her first Buckingham Palace garden party.

And for the auspicious occasion, clever Kate demonstrated her thrifty side by giving a second outing to the 1,200 Emilia Wickstead dress she wore for the Royal Sovereign's lunch in honour of the Queen's Jubilee at Windsor Castle two weeks ago.

Then, eyebrows were raised after so-called 'High Street Kate', notorious for her love of affordable clothing, chose a current season designer item costing more than the average monthly salary.

Second wear: The Duchess of Cambridge chooses the same 1,200 Emilia Wickstead dress she wore for the Queen's Jubilee lunch two weeks ago

Second wear: The Duchess of Cambridge chooses the same 1,200 Emilia Wickstead dress she wore for the Queen's Jubilee lunch two weeks ago

Pretty in pink: Kate just tweaked her accessories, choosing her nude LK Bennett pumps over the pink satin pumps she wore last time

Perfect match: Kate paired the pink pleated dress with a pretty Jane Corbett hat trimmed with lace and pearl earrings

But with this second appearance, Kate has silenced her critics - and proved that she is a thoroughly sensible royal who is so much more than a mere clothes horse.

She joined the Prince of Wales, Duchess of Cornwall, and the Queen for tea and cakes with 8,000 guests within the grounds of the royal residence as the family prepares for this weekend's Diamond Jubilee celebrations.

Kate attended the event without her husband, the Duke of Cambridge, who instead remained at RAF Valley on Anglesey where he is a search and rescue pilot.

It was the second Palace garden party of the year and guests from all walks of life enjoyed another warm day after the unseasonably hot weather of recent days.

The band struck up the National Anthem as the Queen and Duke of Edinburgh appeared at the top of the steps and a hush fell over the assembled crowd.

Then applause broke out as the couple, along with Charles, Camilla and Kate, made their way towards their waiting guests, who were invited after nominations by institutions, charities and businesses.

Relaxed: Kate looked utterly at ease at the party, which she attended with William, as well as the Queen, Prince Philip and Camilla, chatting animatedly to guests

In demand: A line of delighted guests queued up to meet the Duchess in the Palace grounds

In demand: A line of delighted guests queued up to meet the Duchess in the Palace grounds

Where's Kate? The Duchess is swamped by guests keen to talk to her

Where's Kate? The Duchess is swamped by guests keen to talk to her

An audience with... Kate entertains the troops at the party today

An audience with... Kate entertains the troops at the party today

Welcome to my humble home: The Queen opens Buckingham Palace gardens to guests a number of times throughout the year

Welcome to my humble home: The Queen opens Buckingham Palace gardens to guests a number of times throughout the year

AND HOW IT LOOKED TWO WEEKS AGO...

Pretty in pink: Kate wore a simple pleated dress as she joined William for the Queen's celebratory lunch at Windsor Castle today

Flashback: Kate wore the simple pleated dress from Emilia Wickstead's spring/summer collection as she and William welcomed the world's Royals for the Queen's celebratory lunch at Windsor Castle two weeks ago

Girl talk: The Duchess of Cambridge chatted to Charlene, Princess of Monaco, who was boasting a stylish new hair cut

So good she's worn it twice: The flattering dress, with its nipped in waist, boat neckline and pleated skirt was a hit

EMILIA WICKSTEAD: THE GO-TO DESIGNER FOR HIGH SOCIETY

Society favourite: Designer Emilia Wickstead with loyal client Samantha Cameron

Society favourite: Designer Emilia Wickstead with loyal client Samantha Cameron

British based, New Zealand-born designer Emilia Wickstead has fast become one of the go-to designers for London's high society.

In business just three years, Ms Wickstead has already dressed a number of royals - not least Kate, who wore an emerald Emilia Wickstead coat dress for a St Patrick's Day appearance earlier this year. 

Kate has been spotted various times visiting the atelier in London's Belgravia, and is said to be a great fan of the brand.

Privately, Ms Wickstead is said to be delighted the Kate has shown interest in her collection.

Ms Wickstead also dressed a number of VIP guests invited to last year's Royal Wedding, including Kate's cousin Lucy, Anya Hindmarch, Georgina Cadbury, Lady Kitty Spencer, Emma Parker Bowles and India Hicks, who was a bridesmaid to Princess Diana.

But Emilia's client base is not restricted to the upper echelons royalty.

Ms Wickstead can also count Dannii Minogue and Samantha Cameron as trusted customers, both of whom have worn her designs on many occasions.

Most recently, Samantha Cameron wore multiple pieces from Wickstead's collection on a visit to the U.S. in March.

The designer's spring/summer 2012 collection, a pretty collection in candybox hues, was described by Wickstead herself as being a 'mixture of sophistication and playfulness - fashionable women who entertain'.

Perfectly suited for the Duchess's central role today.

'We are happy, delighted and excited to see Kate in one of our designs, a spokesman for Emilia Wickstead said after the Sovereign's lunch. 'She looked lovely.'

DEBORAH ARTHURS

Here's what other readers have said. Why not add your thoughts, or debate this issue live on our message boards.

The comments below have not been moderated.

What a scandal!!!! She's worn the same dress twice

Thrifty ha ha I doubt it

Is this really headline news? Since when did wearing a dress twice make a woman clever?!?!

People say she hasn't worked a day in her life, I'm sorry but small talk and meets and greets are so draining and at times boring, yet she still remains smiling, always looking as though she genuinely wants to be there, even though sometime she's probably thinking, not again! (She is human after all!) She also often wears high street clothes which she doesn't have to, I'm sure her designer wardrobe is vast, but she is aware she has become a role model and girls and women will will want to copy her. Really admire her.

I think she looks lovely

"At least Princess Diana had some class.............." - TRUTH HURTS, HAVE SOME, 29/5/2012 20:14 ~~~~~~~~ Only if you call sleeping with other women's husbands classy conduct...

If I didn't know she was 30, I'd have thought she was nearer 40. For whatever reason, she's ageing very, very fast, just like her sister. Very nice, proper princessy outfit though.

shes getting praise just for wearing the same dress twice? who doesnt?

This is odd. I'm all for her wearing her outfits several times over, but why would she wear them to two such high profile events two weeks apart? It doesn't make sense. Unless, nothing else fits her because there is a baby on board. Not loving that hat with it either.

Charlotte in NC, she is the daughter of very rich parents. They were supporting her before her marriage, and I believe they've settled money on all three of their children, so they would have funds of their own. Now that she's a member of the royal family, she has a rich husband, who is just about to come into his full inheritance from his mother, and is reportedly receiving a dress allowance from her father-in-law.

The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.



For those with more money than taste... the £125,000 diamond encrusted gold coins on sale to celebrate Queen's jubilee - Daily Mail

By Lucy Waterlow

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Forget commemorative mugs or tea towels, there's now a much more elaborate souvenir on sale to mark the Queen's diamond jubilee.

But with a price tag of 125,000, you'll need more money than taste in order to afford it. 

The East India Company has released 60 minted gold coins, one for each year of Queen Elizabeth II's reign, encrusted with diamonds to celebrate the royal milestone.

Despite the hefty price tag, the company has revealed that it has had 'brisk and determined interest' from monarchist collectors and investors from across the globe.

Diamond Queen: The East India Company have released 60 of these gold coins encrusted with diamonds to mark the jubilee

Diamond Queen: The East India Company have released 60 of these gold coins encrusted with diamonds to mark the jubilee

The gold coins weigh a kilo and feature the head of the Queen wearing a diamond tiara, necklace and brooch with the words 'Elizabeth Regina, Diamond Jubilee 1952-2012' around the outside.

They have also released 60 silver coins of the same design and weight but at a 'cheaper' price of 25,000.

Each kilo struck by The Royal Mint represents over 1,000 hours of craftsmanship - and the company has received particularly high interest in the coins from international buyers.

As a result, the company is now scheduling private viewings in Monaco, Moscow, Geneva, Hong Kong, the Middle East and India.

The East India Company, which has a flagship store in Mayfair, has long-standing links to the British monarchy.

Expensive souvenir: Diamonds are encrusted in the tiara, necklace and brooch of the Queen's image raising the price of the one kilo gold coin to 125,000

Expensive souvenir: Diamonds are encrusted in the tiara, necklace and brooch of the Queen's image raising the price of the one kilo gold coin to 125,000

Queen Elizabeth I founded the East India Company in 1600 by Royal Charter.

In the 19th century, the company set jewels in a tiara for Britain's other diamond Queen, Queen Victoria, when she was crowned Empress of India. 

Sanjiv Mehta, CEO of East India Company said: 'The company was instrumental in building the British Empire with its legacy still visible today in what we know as the Commonwealth Nations.

'We chose to commission the Royal Mint, another quintessential British brand who first minted coins for us over 200 years ago, with this unique project to create a timeless tribute that reflects the grand achievement it celebrates.'

Commemorative: Sixty silver coins have also been made and are on sale for 25,000

Commemorative: Sixty silver coins have also been made and are on sale for 25,000

Given the expensive nature of the purchase, buyers get more for their money than just the coin.

It is presented on royal purple velvet in a bespoke presentation case, designed by British company Linley.

A diamond-magnifying loupe is hidden in the base compartment of the presentation case, which enables owners to get a close-up view of the encrusted diamonds.

The purchase also includes a book which tells the story of the Queen Elizabeth II's 60-year reign.

Here's what other readers have said. Why not add your thoughts, or debate this issue live on our message boards.

The comments below have not been moderated.

Although some of the comments may seem a little negative, lets face it the Queen's achievment of being on the throne for 60 years is commendable. So why not have something like this to celebrate the jubilee, it goes without saying that this is certainly a once in a life time occasion.

The portrait is completely rubbish and looks nothing like the queen face. She is made to look more like a toothless version of Dame Edna!

'...it is perfectly hideous'

Could you go on a 125,000 shopping spree and hand this coin over as payment? Its like when they sell a 5 coin for 8 .... If I want a 5 coin I will pay 5 for it, thank you please. My other half used to collect coins, before i spent them on the bus - Claire, Bristol, 29/5/2012 16:51------What made you buy a bus?

Liz looks more like Stanley Baxter on them!

1kg of gold is worth around 33 grand so its way overpriced even with the diamonds

Could you go on a 125,000 shopping spree and hand this coin over as payment? Its like when they sell a 5 coin for 8 .... If I want a 5 coin I will pay 5 for it, thank you please. My other half used to collect coins, before i spent them on the bus

Not a recession for some. "All in it together", [sic] yeh right...

Why say more money than taste? If that is your view of gold and diamonds then you could say that about the Crown Jewels. I hope anyone who buys these coins enjoys them and sees them rise in value.

Yes nice idea but you'd have to be a mug to buy one. Wait until they're going cheap in coin shops or boot fairs.

The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.


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