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 Replies: 79 / Views: 11,900 |
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Pillar of the Community
Canada
6768 Posts |
Quote:But I'm curious, if the Face Value Program is indeed concluded, then why has RCM not issued a press release? I think, unlike the launch of the programm, the termination isn't considered a "big deal", so they (probably) prefer to treat it's like regular series - last coin minted, and it's all. |
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Pillar of the Community
Canada
5324 Posts |
I beg to differ a little, there's no chance the RCM makes any profits on this type of coin unless it's sold overseas, there is always a chance of future redemption along with the fees. The manufacturing and shipping and handling fees on these coins are hefty by themselves unless it served it's purpose of creating a new customer. I really do not think that very few people was allowed to purchase bulk amounts of these coins to try to gain 1 to 2% credit card rewards, it was not creating new collectors and most of the main collector base has curtail NCLT, too many issues. |
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Pillar of the Community
Canada
2845 Posts |
Quote:
I think, unlike the launch of the programm, the termination isn't considered a "big deal", so they (probably) prefer to treat it's like regular series - last coin minted, and it's all.
It should be a big deal but RCM is horrible in the area of customer communication. To me it reeks of arrogance that the Govenrment is frequently criticized for. Bombard us with advertising telling us to hurry, hurry, buy but when a product line ends, force us to scratch our heads and wonder how long we're to wait for the next release by asking the question on a public forum or as a last resort by calling their 1-800 number, only to have some person inform us the series has been discontinued after a 40 minute wait on hold. A five year series is huge. Birthdays and all the reasons XforX were bought as gifts didn't suddenly stop. I can't think of one good reason RCM would withhold "officially" announcung the conclusion of the series - other than all the details are not yet finalized. Highest possibility - the terms of future redemptions. When XforX was a Current product, RCM released their Current arrangements for redemption. If it's to become a Past Product, will those arrangements remain the same for a limited time, or forever? Those who are in the possession of XforX have the right to be kept informed. Edited by wildflowerAB
01/15/2017 12:20 pm
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Pillar of the Community
710 Posts |
Businesses don't advertise when their product ends or terminates. The RCM is no different. |
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Pillar of the Community
Canada
5324 Posts |
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.
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Pillar of the Community
Canada
2845 Posts |
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 |
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... |
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Pillar of the Community
Canada
1700 Posts |
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.
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Pillar of the Community
Canada
6768 Posts |
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? |
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Pillar of the Community
Canada
5324 Posts |
How many collectors would buy 2000.00 a year at best to gain 20 to 40 bucks?
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Pillar of the Community
Canada
2845 Posts |
Quote:
How many collectors would buy 2000.00 a year at best to gain 20 to 40 bucks?
Probably the same ones who pay $100 or more a year in interest charges and still think they're making money. |
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Pillar of the Community
Canada
1571 Posts |
I don't really think many people did this for the points, but rather as a means of climbing the tiers in the masters club program. For the amount of effort, clearly it's not worth it. I cashed mine in for several reasons, including the fact the RCM could, theoretically, tell banks that they will no longer accept them. I wanted to be sure to get the face value out of them since I'm starting to sell off my coins. If laws get passed that make these unredeemable, they go from "$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. |
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Rest in Peace
Canada
1360 Posts |
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.
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Pillar of the Community
Canada
1027 Posts |
@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. |
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Valued Member
Canada
458 Posts |
not into this types of coins
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Replies: 79 / Views: 11,900 |
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Posted 01/15/2017 11:17 am
