Bumble Bee Sold Out

^Just wait for them to panic and reduce the price below retail, then buy from them.

It's unfortunate that the Bumble Bee coin has caused such a rift between some contributors here on CCF as every hobby needs dealers (full- and part-time) as well as collectors to survive. My experience over the years is that each likes to "talk about" the other, but in the end they generally co-exist nicely.

I believe the RCM's Masters Club is a very good idea -- rewarding your best customers with extra benefits is always good for business. In the current situation, however, it's unfortunate that the RCM has chosen to offer a reward or loyalty program benefit that is potentially detrimental to so many of its customers.

I support the idea of providing MC members with a preview of the RCM's new releases. One suggestion I would make, however, is that the RCM institute a policy of allowing MC members to purchase a limit of one of each new coin during their special preview period. This would help ensure that MC members never miss out on a limited-edition coin they wish to collect while at the same time removing its tacit support for those looking to purchase coins with the sole intent of quick resale at artificially inflated prices.

I believe a purchase limit during the MC preview period would likely enable all new coins to see general release -- at general release the purchase limits could be raised to appropriate levels or even removed. There will always be speculators in our hobby, some will be very successful over time while others will fail -- I just don't think it's the RCM's place to create a speculator vs. collector environment through what is otherwise a very good customer rewards program.

I can understand that the RCM may not be concerned with what happens to individual coin prices on the aftermarket (though I do not know whether they are concerned or not). As the RCM is a for-profit corporation, its focus is understandably on selling as many coins at a profitable price as they can. I believe, however, it's a mistake to lose track of your collector base in favor of faster initial sales.

Just my thoughts...


Please note two things: 1) I'm not a MC member (though financially I easily could be), and 2) I have no interest in the Bumble Bee "coin". So, I'm contributing my thoughts here without a horse in the race.

@commems
"One suggestion I would make, however, is that the RCM institute a policy of allowing MC members to purchase a limit of one of each new coin during their special preview period."

Sounds good to me, but I would temper that with coins that have a low mintage. If the RCM is going to make 500,000 of a coin, I don't see a need for that rule. If the RCM makes 10,000 (or less) THAT'S where this rule makes sense.

It is my understanding...that the RCM is 100 percent dedicated to the preservation of the After market...Let's face it...buying a coin just for the historical value...not likely...as collectors we like to see a premium on at least some of the coins we buy..not that the mint gets it right all the time...but I believe their goal is to mint below public demand..
Feel free to disagree.

There are lots of things ‘unfair' about a market economy.

Why do dealers know about coins before we do? Why do they order before we do? Do they have limits? Why are some coins available only in Canada, or North America, from the mint? Why can't the rest of the world order them?

Not everyone who purchases more than one coin is buying them to turn a quick profit, but even if they are, there is nothing wrong with that in my opinion. Profit motive is not a sin in my world.

The mint should just produce as many coins as the market will bear, right? Forget about limited mintages - just mint every coin to demand. That would solve all the problems.

Commems, you are correct that some forum postings around this issue are distasteful. This is not the first coin to sell out quickly and it won't be the last and some folks need to get over it and get back to discussing coins. Again, just my opinion.

By the way, I ordered another glass bee from Gatewest a few hours ago. I have no intention of selling it but it would be disingenuous to suggest that I don't hope that it will increase the potential future value of my collection.

I was able to order my bee from the mint..MC...it's nice to see that collectors that felt burnt by the quick sellout are finding the coin at trusted dealers for the introductory price...I see coins sell out at the various mints all the time...but most of the dealers will sell their allocations fairly...at first anyways...eBay is not always the best place to find just released...

http://store.gatewestcoin.com/cgi/v...33j98937M80Z
Gatewest is taking orders for the silver bumblebee coins.
This morning, it was at $ 140, as of right now (2:38PM EST), it's $ 170

http://www.talismancoins.com/servle...tail?no=1938
Talisman on the other hand is still selling at $ 140 but in US dollars instead of the Canadian variety.
Just another FYI....