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 Replies: 514 / Views: 78,824 |
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Pillar of the Community
Canada
1571 Posts |
I've already reached the same tier I was on, so no plans to buy multiple $100 for $100s. At least not until July 1st. Lol.
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Pillar of the Community
Canada
5324 Posts |
Generally speaking the mc, who were allowed to buy large amounts are usually the type of collector who doesn't worry about air miles or so, when they are buying kilo gold pieces, they don't need them to get to any tiers, the couple I met just use these x for x as unique gifts
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Pillar of the Community
Canada
2845 Posts |
Quote:Snipped from RCM's press release Sales of numismatic gold products increased by 73% in the first quarter of 2016, with more than $14.3 million in revenue generated compared to $8.2 million at this time last year, while numismatic silver sales are down slightly, to $31 million, compared to $32.8 million in Q1 2015. The Mint sold out 14 products in Q1 2016, compared to 13 in the same 2015 period, as it continued to offer customers an engaging mix of quality craftsmanship and innovation, demonstrated by the Mint's first-ever concave coin celebrating the 140th anniversary of the Library of Parliament and its first egg-shaped "Pysanka" coin commemorating the 125th anniversary of Ukrainian settlement in Canada. A first quarter adjustment of $8.7 million was recognized to account for recent returns of face value coins, causing overall Numismatics revenues to decline nearly 8% in Q1 2016, compared to the same 2015 period. Management is taking steps to mitigate sales returns in the future. http://www.mint.ca/store/news/royal....V1lh_pDOerU It's interesting to note that during Q1 2015, which would have included sales of $100 and $200 XforX that were still available, sales volumes were still down from the previous quarter while silver bullion price was more or less flat. XforX has to be RCM's most lucrative silver product because they sell at more than a x4 markup (ie $42 worth of silver selling for $200). Considering XforX has consistently topped the Best Seller list, this suggests overall interest in XforX has also declined. Purchasing XforX just to attain MC?......if one isn't interested in coin collecting in general, I can see how the novelty of "vanity status" soon wears thin. Getting stung with flipping losses on the 2ndary market would be the kicker. Without $200 and $100 XforX sales, I'd expect we'll see RCM increase prices of NCLT in an attempt to mitigate losses, while silver numismatic sales will continue to drop. My opinion, monthly releases overwhelms their core market. Purchasing collector coin shouldn't cross into becoming like a Boxing Day sale buying frenzy. |
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Pillar of the Community
Canada
1571 Posts |
It would be interesting to know which coins have been cashed in and how many of each remain. Perhaps the returned coins will make an appearance in 100 years like the $5 and $10 golds.
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Pillar of the Community
Canada
6768 Posts |
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Perhaps the returned coins will make an appearance in 100 years like the $5 and $10 golds. In theory it possible. They have no history significance and never circulated though. But sure - they are outstanding NCLT from all others. |
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Pillar of the Community
Canada
2845 Posts |
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It would be interesting to know which coins have been cashed in and how many of each remain. Perhaps the returned coins will make an appearance in 100 years like the $5 and $10 golds.
Many collectors would suggest the release of the hoard by the BofC negatively impacted the market for the limited number that were previously held in private collections. A sudden appearance of an unknown stash from any source is not a good thing as it puts more supply out there. As for XforX, using a redeemed $200 as an example, RCM would be nuts to cut a loss of $160 and sit on as a $40 chunk of silver. Consider RCM a money machine where melt must be churned to create more profit. As for how many remain, is your thought that XforX may become some sort of unique NCLT collector item in the future and if so why? |
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Pillar of the Community
Canada
6768 Posts |
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Many collectors would suggest the release of the hoard by the BofC negatively impacted the market for the limited number that were previously held in private collections. A sudden appearance of an unknown stash from any source is not a good thing as it puts more supply out there. Unlike many serious collectors, this is one of exceptional cases, when IMO, it was healthy addition to the market. Many new collectors had a chance to get beautiful Canadian coin (still a limited amount of them) for reasonable price.  I sure many people will be happy, if RCM will release additional 5000 of Glass Ladybug (with the year of 2011) |
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Pillar of the Community
Canada
2845 Posts |
Quote:I sure many people will be happy, if RCM will release additional 5000 of Glass Ladybug (with the year of 2011) I think so too. But with increased supply, the price would be sure to eventually fall and so the present owners of 4,985 would likely not be much impressed! LOL! Edited by wildflowerAB
06/09/2016 11:25 am
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Pillar of the Community
Canada
2845 Posts |
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Unlike many serious collectors, this is one of exceptional cases, when IMO, it was healthy addition to the market.
Many new collectors had a chance to get beautiful Canadian coin (still a limited amount of them) for reasonable price.
From the viewpoint of a buyer, I agree! It was the publicized release of the gold hoard that tweeked a lot of additional interest. But the Bank of Canada selling off it's gold reserves, partially consisting of 1912-1914 gold coins, can't be compared to XforX because RCM has no reason whatsoever to stockpile money-losing XforX. At best, recycled silver can become a milk-spotted Maple Leaf coins that are selling far better. Perhaps the original buyers of XforX have clued in to the low silver content in terms of pricing and as a result bullion products have benefited, as opposed to numismatic silver coins.... Also from the 1stQ RCM press release: "Overall strong demand for bullion products, including record sales of Silver Maple Leaf bullion coins, has significantly increased revenues in the first quarter of 2016, which are up by more than 27% compared to volumes sold during the same 2015 period. The number of ounces of gold and silver bullion coins sold are both up nearly 20% compared to last year's opening quarter........" |
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Pillar of the Community
Canada
1571 Posts |
Making more glass ladybugs would be a bad idea. The $5 and $10 golds were 100+ year old coins that were stored, not re-minted.
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Rest in Peace
Canada
1360 Posts |
Back in the 1960's the face value common coins were worth far less in silver then the face value. As silver increased in value (10 fold x FV), so did the value of the coinage from that era. If the X/for/x coins do the same, they could be worth that much more in another 50 years.
Granted, it's a long time to wait for a proper benefit from your stash, but it worked for our parents with those big jars/boxes/containers of coins stored since the 60's.
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Pillar of the Community
Canada
1571 Posts |
But those jars of coins were only valuable for the silver content. You would be much better off finding a dealer that will accept the $X for $X coins in trade for bullion. In 50 years, the value of silver would have to more than quadruple while the face value will be worth less due to inflation. If you're looking to profit for the $x for $x coins, it's best to cash them in and buy buillion
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Pillar of the Community
Canada
6768 Posts |
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Making more glass ladybugs would be a bad idea. The $5 and $10 golds were 100+ year old coins that were stored, not re-minted. I actually partially joked. It will be bad reputation for mint, but great for buyers. Just think about the people who got all the set, and do not even plan to buy Ladybug due to high secondary market price. They would like get it for issue, even the price for it will be - drastically drop in value of the existing 5000 units. |
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Pillar of the Community
Canada
1747 Posts |
Dcadon, circulating silver coinage has more silver/$ than these XforX coins do. These new coins have roughly 7 g of silver, and a Silver dollar has over 23g. you could buy silver dollars instead of the x4x coins, get more silver and still have money left over for a coffee and a doughnut at timmies.
When silver goes up, your miles ahead. buying these coins for the silver content is the most Ludacris thing I have heard. buying them because you like the design (which I like the first 3 or so $20 designs) is fine.
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Pillar of the Community
Canada
2984 Posts |
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Generally speaking the mc, who were allowed to buy large amounts are usually the type of collector who doesn't worry about air miles or so, when they are buying kilo gold pieces, they don't need them to get to any tiers, the couple I met just use these x for x as unique gifts People who spend a lot of money on coins don't need the x for x coins to reach or maintain MC tiers. But there are very few people who buy Gold Kilo coins. The RCM only mint 10 gold kilo coins per issue. So you are talking about 10 people out of millions of coin collectors. That is hardly representative of coin collectors. I think the vast majority of coin collectors do use the x for x coins to maintain or upgrade MC status. Without these coins many people will fall out of the MC program. Also, the BOC gold coins did turn make a lot of people into instant MC members but that is 4 years ago. Now the x for x coins program is doing what the BOC gold coins did a few years ago: Propping up MC members. |
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Posted 06/08/2016 10:33 pm
