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Pillar of the Community
Canada
6768 Posts |
Some panic activities on the other forum? Collectors, by recognizing in the XforX "medals" and not "coins", trying to find bank branches in the Toronto and Vancouver, just to cash out these coins. Is the situation really such bad?  Cause here we are awaiting these coins to be delivered... |
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Pillar of the Community
United States
2408 Posts |
Got mine today!!  Edited by canadian_coins
12/10/2016 4:46 pm
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Valued Member
Canada
256 Posts |
"Collectors, by recognizing in the XforX "medals" and not "coins", trying to find bank branches in the Toronto and Vancouver, just to cash out these coins.
Is the situation really such bad? " For true collectors it's not a problem.
For those that purchase to reach MC status or flip it's a rocky road considering events over the past 6 months or so.
For the latter group they're best to get at least par value while they can. My feeling only and I sold most of mine.
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Pillar of the Community
Canada
586 Posts |
*** Edited by Staff - Please review the rules that you agreed to when you registered. ***
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Valued Member
Canada
92 Posts |
This coin sold for $475 over the weekend. How is this even possible? Did the sudden retraction of the $200 for $200 FV coins cause a scarcity for the ones issued in 2016?
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Pillar of the Community
United States
2408 Posts |
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Pillar of the Community
Canada
586 Posts |
My only assessment of that, is that since people started to collect the series. They need the last coin to complete their collection and are willing to spend for the completion. I have posted my Towering Forest coin (The first in the series 2014) twice now on a certain site, for sale at $200 Canadian starting price and haven't generated any interest. So I'm not sure what else it could have been. Maybe two rival bidders playing a ego game also.
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Pillar of the Community
Canada
644 Posts |
I searched this coin on ebay and most sellers are asking around $240 CAD Buy It Now. I recently sold my 1st $200 for $200 Towering Forests coin for that price, people are still willing to pay over issue. |
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Valued Member
Canada
92 Posts |
It was sold by the Auction Network approximately 2 weeks ago in one of their online auctions. It was lot #1537.
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Valued Member
Canada
411 Posts |
I really enjoyed collecting the FV coins and have all the denominations displayed in wooden cases. I'm hoping I've made the right decision to hold onto them and that the mint doesn't decide to demonitize them down the road.
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Pillar of the Community
United States
2408 Posts |
It wouldn't matter to me much if they demonetize the FV coins because I only have one of each and don't plan on cashing them in. For me this is for the pleasure of collecting. I guess it would be a different story if I had purchased tons of them.
But hey, who knows maybe silver will indeed reach >$100 an ounce in our lifetime.
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Valued Member
Canada
92 Posts |
I don't see why the RCM could not just continue selling the FV coins that they still have in stock, but at a slight premium. It would satisfy the demand of those who want to collect them (or complete their collection), and would mitigate the possibility that people would just buy and cash them out at a bank. |
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Pillar of the Community
Canada
789 Posts |
I think the appearance of counterfeit FV coins is another reason why the Mint have to terminate the FV series.
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Pillar of the Community
United States
2408 Posts |
^^Maybe but why would this be any different than regular NCLTs? Fake NCLTs won't stop the RCM to strike more of them. I think the main reason why the X4X project was canned is because so many of them were returned. Why? Most buyers had no intentions to collect them in the first place. Think about it; buy via credit card, get cash back, get premium status, return to bank = free money. And on top of that, silver tanked. Those who thought that silver would reach $100/once eventually bailed out. Too many of them were minted. Restrictions were put in place to limit purchases but it was too late. One alternative would have been to release through the banking system and have them officially "authorized" for circulation. Cool concept! Eliminate the penny, bring in the $20 coin to fill the empty cash register slot. Make no mistake, this was a great idea. Buying NCLT at face value was too good to be true... and couldn't last forever. Edited by canadian_coins
08/16/2017 9:09 pm
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Pillar of the Community
Canada
586 Posts |
I agree with canada_coins, That is for sure the reason, but this whole situation has made these items a novelty. I can not count how many times I have told this story nor how many times I've heard it or read it.
It will be awhile or maybe never until they become scarce with 30k plus mintage's apiece, but I think they are nice to look at and they have a cool story behind them.
Think about it, if they choose to release another coin. lets say (Great lakes coin) with a $200 FV for example and label it part of the same series. What would they sell it for. $300 plus I think so.
Edited by TheBurnz
08/17/2017 08:25 am
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Posted 12/10/2016 4:46 pm
