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RCM Cancels Face Value Program

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Pillar of the Community
Canada
5324 Posts
 Posted 01/15/2017  12:57 pm  Show Profile   Bookmark this reply Add john100 to your friends list
Sure, they do, recently RIM Blackberry finally announced end of handset production Ford stop production of Crown Vics it's always better to be upfront on these issue, especially when these decisions affect bottomline.
Pillar of the Community
Canada
2845 Posts
 Posted 01/15/2017  1:17 pm  Show Profile   Bookmark this reply Add wildflowerAB to your friends list
Most retailers that I can think of don't hide products from their website. Instead the status would be noted as Discontinued.

And those type of products are not being promoted as a series or set whereby one or more are added few months. .

Some of you may have reps who keep you informed but it's not right that the typically holder of XfoX - the novice collector - is left in the dark.








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Pillar of the Community
Canada
6768 Posts
 Posted 01/15/2017  1:37 pm  Show Profile   Bookmark this reply Add Silveroid to your friends list
Guys, these coins, although being unusual item, do not have such big significance. Like "over and its all" - this is my opinion. And as you mentioned, RCM is good in customer service, when it comfortable to the mint. Btw, did we ever receive notice similar to "please be aware, mint produced for the first time X-privy SML, exclusively to X-distributor" etc. No info, never, right? Here is the same....no need to inform. But you, Wildflower right, since no official info, the program can continue, might be not as frequent edition and with some rule change...
Pillar of the Community
Canada
1700 Posts
 Posted 01/18/2017  01:57 am  Show Profile   Bookmark this reply Add Petersun to your friends list
Interesting read. Never thought about all these implications.
Good to hear that at this point there is a finite number of these coins to collect. I guess a few people will get scared and drive the coins' price up, but I guess I'll wait a few years and then buy the ones I like after the trends stabilize as currency also inflates a bit.
And didn't realize it's been five years since the start of this program.
Pillar of the Community
Canada
6768 Posts
 Posted 01/18/2017  5:46 pm  Show Profile   Bookmark this reply Add Silveroid to your friends list
I find this phrase often, that's why sharing.
Note, the quote is original, no editing.
You can understand, where from it taken.
(Apologize in advance in any case)


Quote:
I'm wondering if we can use a CC and hoard em all : ....nice cc points


Only "hoard" and "points" in the mind?
Pillar of the Community
Canada
5324 Posts
 Posted 01/18/2017  6:30 pm  Show Profile   Bookmark this reply Add john100 to your friends list
How many collectors would buy 2000.00 a year at best to gain 20 to 40 bucks?
Pillar of the Community
Canada
2845 Posts
 Posted 01/18/2017  6:50 pm  Show Profile   Bookmark this reply Add wildflowerAB to your friends list

Quote:

How many collectors would buy 2000.00 a year at best to gain 20 to 40 bucks?


Probably the same ones who pay $100 or more a year in interest charges and still think they're making money.
Pillar of the Community
Canada
1571 Posts
 Posted 01/18/2017  6:53 pm  Show Profile   Bookmark this reply Add Redzapsid to your friends list
I don't really think many people did this for the points, but rather as a means of climbing the tiers in the masters club program. For the amount of effort, clearly it's not worth it. I cashed mine in for several reasons, including the fact the RCM could, theoretically, tell banks that they will no longer accept them. I wanted to be sure to get the face value out of them since I'm starting to sell off my coins. If laws get passed that make these unredeemable, they go from "$x for $x" to "$x for 1/4 of $X in a hurry. These were cashed in because of the way they were marketed. Many people gave them as gifts expecting the receiving party to be able to simple walk into a bank and deposit them into an account.
Rest in Peace
Canada
1360 Posts
 Posted 01/18/2017  9:20 pm  Show Profile   Bookmark this reply Add Dcadon to your friends list
I disagree with your statement: "Many people gave them as gifts expecting the receiving party to be able to simple walk into a bank and deposit them into an account."

I did give away a number of the 20/4/20's, and to my knowledge they are now in collections of young people. I don't believe any of the ones I gave were cashed.
Pillar of the Community
Canada
1027 Posts
 Posted 01/18/2017  9:31 pm  Show Profile   Bookmark this reply Add New1954 to your friends list
@Dcadon

I, too, gave many face value coins as gifts over the years and to my knowledge not one has been cashed in.

I still have every single face value coin issued by the RCM and I do not intend to cash them in. My favourites are the 200/200. Amazing artwork.
Valued Member
Canada
458 Posts
 Posted 02/10/2017  6:47 pm  Show Profile   Bookmark this reply Add Bigchip22 to your friends list
not into this types of coins
Pillar of the Community
Canada
1027 Posts
 Posted 02/10/2017  7:06 pm  Show Profile   Bookmark this reply Add New1954 to your friends list

I am
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1571 Posts
 Posted 02/10/2017  7:19 pm  Show Profile   Bookmark this reply Add Redzapsid to your friends list
I know the ones I gave to kids/teens in my family are likely still in collections but the option to cash them in was the only reason I gave them. Giving nclt coins from any other series would be wasting my money if the recipient wasn't a Numi. I offered to trade for bills at any point in time to all recipients. None have took me up on the offer. If they did, I'd likely cash them in since the series was killed by batman and bugs bunny etc. Not to mention the box they were selling with multiple negative issues. Like not fitting COAs, not fitting all the coins in the series and so on.
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Canada
1027 Posts
 Posted 02/10/2017  7:43 pm  Show Profile   Bookmark this reply Add New1954 to your friends list
Actually they did fix the FV case for 20/20 & 25/25. Also, RCM reissued the canoe certificate to fit. I am quite impressed with the case because of the pics showing each FV coin.

I guess we all have different tastes and I am proud to own these coins.
Pillar of the Community
Canada
1571 Posts
 Posted 02/10/2017  8:35 pm  Show Profile   Bookmark this reply Add Redzapsid to your friends list
I was as well at first. I had even bought the box. But it was clear the box was an afterthought. The box I received was the original, which was supposed to be sold in limited quantities. That was why I bought it. When it was later revealed that the "mintage" of these boxes was basically ordered to demand, I sent mine back. The quality for the price was actually better than I expected but after deciding to scrap the series, I had no use for it.
Sure, the first COA not fitting was an issue, and should have been left at that. The RCM didn't correct the problem by issuing new COAs, in my opinion, but rather created a new one.
I started collecting the $20 for $20s after the first coin was released so never purchased it through the mint. I did however receive 2 COAs for that coin from them simply because I bought the box. They arrived months after I returned the box. Randomly sending out COAs is not the greatest idea, especially with all the counterfeit talk lately,
If I knew that I would be able to pass them on to future generations, and they always be redeemable, I'd still be collecting them. They are the best value as far as NCLT go.
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