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 Replies: 165 / Views: 15,715 |
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Valued Member
Canada
373 Posts |
having to order a minimum amount per year doesn't sound that good.
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Valued Member
Canada
234 Posts |
^^ If you are getting 15% off on selected items, then reselling them double what they are worth sounds like a pretty good deal to me.
For example that dealer is selling the silver 5 penny set for 300$ which he most likely got a discounted price
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Pillar of the Community
Canada
1528 Posts |
It gotta be a big amount though to be a dealer? Or else everyone would be a dealer
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Pillar of the Community
Canada
5324 Posts |
a RCM dealer is carrying maybe 50 percent stock that wiil not sell for a profit while only a select few are popular like this penny series, although I was told that dealers are obligated to sell RCM items at orginal prices untill sold out. with this penny set jm and canada post was the only dealers I saw sell at orginal price. |
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Moderator
 Canada
10458 Posts |
For current and new releases, RCM Distributers and Dealers have to sell at issue price, until the item is declared 'sold out' at by the mint. That said, several dealers I know stockpile 'hot' items, and then only put them out for sale after the mint is sold out. Most dealers I know, did not use to do this, until the world of 'flipping' mint products on ebay by collectors evolved to what it is today. This might not seem right, but the philosophy of these dealers is that the end user, the collector who actually wants the set, will end up paying the same price anyway, because dealer inventory would be cleaned out by online resellers. Those dealers would rather keep their long term customers, and set aside and offer them the desired product. I spoke with some of those customers over years, and they were okay with that, because usually the same dealer would give them decent prices on other numismatic items - they preferred to be loyal to a good dealer, than save $20 from an online auction. Business, and business relationships, can be fickle things... not everyone can hide behind the veil of an online store. "Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Valued Member
 Canada
389 Posts |
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Pillar of the Community
Canada
2984 Posts |
Quote:For current and new releases, RCM Distributers and Dealers have to sell at issue price, until the item is declared 'sold out' at by the mint. That said, several dealers I know stockpile 'hot' items, and then only put them out for sale after the mint is sold out. Most dealers I know, did not use to do this, until the world of 'flipping' mint products on ebay by collectors evolved to what it is today. There is no such rule that Dealers have to sell at issue price until it is declared to be "sold out". If that is the case, why is Gatewest Coins allowed to sell the 5 penny set for $299 when the Mint is still showing "awaiting stock". Worse, Gatewest only showed the list price of the 5 penny set at $149.99 in the middle of the night during the day of the public release. It said phone orders only when no one answers the phone in the middle of the night. As soon as the store opened in the morning, the price suddenly jumped to $199. How many people were able to get the set at list price from Gatewest? Zero. It also happened during the glow-in-the dark dino coin on the first day of public release. Gatewest jumped the price THREE TIMES IN ONE DAY. Yet, the Mint showed the Dino Coin at "awaiting stock" for a couple of months. As for some dealers stock piling coins, same answer; they are ALL selling before the Mint Sells out. It could be months before the Mint says a coin is sold out. Actually the Mint even bring back sold out coins! Like the Lismer coin which came out almost 4 months ago and was declared sold out. But suddenly came back in stock a week or two ago. |
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Moderator
Canada
10458 Posts |
Yes, there is a rule. Dealers with Royal Canadian Mint numismatic coin dealer status risk a lot by bending or breaking those rules. Obviously, a grey area exists as to when an item is available to collectors (i.e., in stock) or not (e.g., awaiting stock versus sold out). Dealers are notified when an item is "no longer available" (meaning awaiting stock to fill orders already made or sold out) to collectors, and they are free to act upon the demand. It is not their responsibility to monitor Royal Canadian Mint inventories on a daily/weekly basis, when items that were ordered, were cancelled and suddenly are available to collectors again. Frankly, I know Gatewest bends the rules, I have had mixed results when dealing with them in the past, and now I avoid buying from them. There are other RCM dealers you can try. If you get to know them personally, through coin shows or their shops, and develop a rapport, then they'll even put aside a set for you, at issue price. http://www.mint.ca/store/mint/custo...ator-1400026"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Valued Member
Canada
389 Posts |
I remember a few months ago now, that gatewest coins got in trouble for putting coins up
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Pillar of the Community
1007 Posts |
Dino's were available for quite a while at issue price through gatewest.
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Pillar of the Community
Canada
2984 Posts |
Quote:
Dino's were available for quite a while at issue price through gatewest. No they were not. April 17, was the release date for the general public. Gatewest had it for list price for about 3 hours and hiked it to $49.99. By end of that day they hiked the price a 2nd time to $69.99. I hardly call 3 hrs a long time. You need to be up at 6:00 am PST to get the deal. |
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Pillar of the Community
Canada
1528 Posts |
so how much they have to buy to get dealer's status? MC is $1000 so it is safe to assume it would be $10 000 for dealer status?
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Valued Member
Canada
396 Posts |
@Lostwords, I think it's in the 100k~300k range for dealers.
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Pillar of the Community
1007 Posts |
Gatewest did not raise the price 3 times the first day. At first they didn't even have a limit, I remember when they changed the limit to max 20. Remember the mint didn't even sell out of dinos first day.
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Pillar of the Community
1007 Posts |
Sorry they didn't raise the price twice the first day.
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Replies: 165 / Views: 15,715 |
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Posted 10/25/2012 5:39 pm
