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 Replies: 89 / Views: 12,824 |
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Pillar of the Community
Canada
5324 Posts |
the RCM has created a coin with limited mintage as with this gold coin, by minting more exact examples for 1 distributor to sell is in my opinion fraud to the orginal purchasers! |
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Valued Member
Canada
86 Posts |
Another point is that the one sold on the RCM website has a proof finish and comes encapsuled with the clamshell and COA while the Goldline version has a bullion finish and will come in a mylar pouch only. Not as collectable as the RCM one in my opinion... |
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Pillar of the Community
Canada
5324 Posts |
yes, but when you promote limited mintage of 2000, what does this mean you can produce other finish version of this same coin size weight and everything.
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CCF Master Historian of USA Commemoratives
 United States
12272 Posts |
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yes, but when you promote limited mintage of 2000, what does this mean you can produce other finish version of this same coin size weight and everything. Yes, absolutely it does. It is common practice to produce Proof and Uncirculated versions of the same coin design and to market their individual mintages separately. Often, each version of the coin attracts different collectors -- some prefer to collect proof coins, others prefer uncirculated coins. The RCM did nothing wrong here. Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Pillar of the Community
Canada
3690 Posts |
What the RCM did with the gold coin is not much better than what the Perth Mint is doing with some of it's coins. The only differences between the Goldline bullion and the RCM proof coin are the finish and the price. I would be extremely PO'ed if I bought the RCM's limited edition proof. Yes the proof "hand polished" finish is nicer and you get a $2 maroon clamshell but that is not worth more than a $100 premium IMO. Maybe the RCM isn't aware that Internet has no borders and they thought we wouldn't hear about a US company selling a nearly identical coin celebrating the War of 1812? john100 I think you had the best example of why this is wrong: Coming next month, a bullion finished 5 coin farewell to the penny. Produced by the RCM exclusively for Goldline International. Limited mintage of 100,000 and on sale for $49.99, but sorry there is no wooden box. |
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Pillar of the Community
Canada
3690 Posts |
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It is common practice to produce Proof and Uncirculated versions of the same coin design and to market their individual mintages separately commems, can you give us an example? I honestly can't think of a case were the RCM sold out of a limited edition proof coin and subsequently issued a bullion coin with the same design and specifications. |
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Pillar of the Community
Canada
5324 Posts |
thanks cc ottawa, you hit the nail on the head and your example with the 5 penny set is the perfect example to show this point. when the RCM mints prooflike and circulating coins they tell you ahead of time, in this instance they advertise a limited 2000 mintage. this could start a bad trend for the RCM if collectors do not complain to the mint, its just wrong |
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CCF Master Historian of USA Commemoratives
United States
12272 Posts |
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commems, can you give us an example?
I wasn't thinking about a case of a limited edition proof coin being followed by a bullion coin, I should have been more clear. I was thinking about the RCM's annual commemorative silver dollar. Each year the RCM puts it out in proof and brilliant uncirculated. When they advertise each, they refer only to the mintage of the specific finish. For example, when you visit the page for the proof War of 1812 dollar it refers to a mintage of 40,000 and how "90% of mintage is sold." The page doesn't promote the BU version of the coin and its additional available mintage of 25,000 or include it in the "90%". To me, this is a similar situation to what has happened with the Goldline version of the gold coin (with the obvious difference that the uncirculated version was not sold directly by the RCM.) To me, the Goldline version of the War of 1812 gold coin doesn't diminish the current/future value of the RCM-only proof version. They are two different coins and will have two different followings. The proof will always be the more limited edition and so will continue (IMO) to be the more sought after. BTW: If the RCM had produced 100,000 identical proof versions of the gold coin for Goldline after originally advertising a limited edition of 2,000 I would feel completely different about the situation. Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Pillar of the Community
Canada
5324 Posts |
the RCM clearly states limited 2000 coins worldwide, how is this not fraud. would it be right if the RCM mint an exact copy of the 1948 silver dollar for a private coin dealer to sell? we buy these RCM issued coins on the bases of limited mintages and accordingly pay premium prices. if you create more coins with the same design size and bullion content, it is the same coin. |
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Pillar of the Community
1007 Posts |
I totally understand and I don't like it, but it's not the same coin. If it had the same finish, I would really be mad. ðŸ'¿
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Pillar of the Community
Canada
5324 Posts |
i will leave this isssue with one last comment, a 1948 silver dollar ms 60 or sp60 is considered by all collectors as a 48 dollar. the RCM guarantee only 2000 of this coin, how can additional mintage not a breach of their guarantee. |
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Pillar of the Community
 Canada
815 Posts |
I think the biggest problem is confusion in the secondary market down the road.
I can imagine dealers, sellers, and buyers buying one, mistaking it for the other.
What really stinks here is that Goldline essentially subsidized the minting of the limited.coin, but buyers still paid a premium. That's what a for-profit public mint gets ya, I guess.
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Pillar of the Community
Canada
815 Posts |
Just got my coin, it's nice in person, though it has odd dimensions.
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Pillar of the Community
1007 Posts |
I wonder why this coin doesn't get nearly the attention as the 1.5oz polar bear. Do people just love polar bears?
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Pillar of the Community
Canada
3690 Posts |
Just a guess but...
$50 bucks or more for 3/4oz with an overworked theme and copied image.
1812 is roughly $65/oz. Polar bear is roughly $43/oz.
Not to mention extremely limited distribution for the 3/4oz.
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Replies: 89 / Views: 12,824 |
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Posted 11/04/2012 12:45 pm
