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 Replies: 587 / Views: 65,039 |
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Pillar of the Community
Canada
2984 Posts |
@Kuh_85, Not everyone has an ebay store because you have to pay monthly fees and it is not worth it if you are a low volume seller. I usually have about a dozen listings at any one time, so being a ebay store owner is out of the question. I would lose money if I sold at $110. Besides, is it worth all the time and effort in packaging and bringing it to the post office to make $1.23? If that is the case, I would just bring the coins to the bank. |
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Pillar of the Community
Canada
2124 Posts |
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Pillar of the Community
Canada
2984 Posts |
I did an ebay search of completed auctions and there is a ton of unsold coins: http://www.ebay.com/sch/i.html?_sac...lete=1&rt=ncYour search is of sold coins which is misleading because it does not give an accurate picture of the market for these coins Yes, A few sold at $137 and $125 but a lot of them don't sell at those prices. Most of them go unsold. You could make some money but only if you are lucky. Edited by MoneyPenney
12/06/2013 6:30 pm
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Pillar of the Community
Canada
815 Posts |
You need to get around $125 to break even after eBay/paypal/shipping fees. Terrible, terrible, terrible series to invest in. It's like a no-lose lottery that is also a no-win lottery.
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Pillar of the Community
Canada
2124 Posts |
MoneyPenney you could use that logic to almost ANY coin ..... of course many got unsold, then they're relisted and eventually they are sold, depends also the listed price but you can say that of any coin.
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Rest in Peace
Canada
1360 Posts |
I got an email from the Mint Rep today indicating that only 125 of the $100/4/$100 coins remain. If you're on the fence, now's the time.
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Pillar of the Community
Canada
2124 Posts |
So if someone want all of them is just $12,500. You get 3% cash back in your CC and return to the Mint. You earn $375.
Correction: Return to the Bank.
Edited by arianzo
12/11/2013 2:54 pm
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Rest in Peace
Canada
1360 Posts |
I'm sure arianzo, if you charged them to your cc, and returned them, they would apply the credit to your cc - giving you nothing but a headache for returning them plus the postage you would have to pay with insurance.
Forgive me for being frustrated at your remark. The 'returnability' of these coins has been bantered about to death. Quit harping on it. There might be somebody who would like to purchase a couple of these coins, as Christmas is near, yet here we go again with the negativity about them. The design is nice, the size is nice, the denomination is nice, they are backed by the mint and banks - if you're a collector or know a collector, this is a nice coin to have or give.
At this time, it is now marked as 'Sold Out'.
Edited by Dcadon
12/11/2013 2:49 pm
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Pillar of the Community
United States
2408 Posts |
@Dcadon
You mentioned "they are backed by the mint and banks"
That's news to me. Is there an official statement from the Mint on that? Honestly I haven't followed coins much lately.
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Pillar of the Community
Canada
1528 Posts |
well.. there are none left now. There was an email from the mint rep a few days ago that there are some available. I called my rep today and asked to return the 2 sml sets that I purchased and I'll grab a few grizzly, rep told me all grizzly are gone now.
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Pillar of the Community
Canada
5324 Posts |
If you take these coins to your branch that you bank with, and ask them to contact RCM, they will accept the deposit. If you just try to deposit at any branch, most likely refusal because the banks generally do not want extra work. |
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Rest in Peace
Canada
1360 Posts |
Canadian_coins....the following is on the mint's FAQ: http://www.mint.ca/store/mint/custo...-1100010#Q1a they have the following comment regarding "ALL" nclt coins: Q- Can I redeem a collector coin at a bank or use it as currency to purchase goods or services? A- All coins manufactured by the Mint are legal tender. However, unlike Canadian circulation coins, collector coins are non-circulating legal tender (NCLT). As such, these coins are not intended for daily commercial transactions and accepting them as payment or for redemption is at the discretion of businesses and financial institutions. The Mint has a process in place to reimburse financial institutions the face value of redeemed NCLT coins, once they have accepted them from a customer and returned them to the Mint. In the event a bank branch is unaware of this procedure, customers are advised to contact the Mint with the coordinates of the bank branch, which will take steps to inform the branch of the redemption process. As collector coins can only be redeemed at face value by businesses and financial institutions willing to accept them, it is recommended that individuals wishing to sell a collector coin first consult with a coin dealer, who is more likely to offer a price above face value. Edited by Dcadon
12/12/2013 4:12 pm
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Pillar of the Community
Canada
815 Posts |
The only institution that will 100% take them back are RCM outlets. I think they only give store credit too. |
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Pillar of the Community
United States
2408 Posts |
I wonder how many $20 for $20 - or $100 for $100 have been redeemed so far. and what would the Mint do with them... back to the melting pot?
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Pillar of the Community
United States
2408 Posts |
@MoneyPenney, the break-even point may vary from seller to seller. Based on my personal experience I have 10.3% ebay fees and 8% for PayPal, but that's because I sell a lot of low cost items. For something above $100 like the shield example below, the numbers look better. Paid 114.04 USD Sold 157.69 USD S/H 6.95 USD ebay -9.88 USD (6%) PPal -6.84 USD (4%) Cash 147.92 USD Ship -8.70 USD (cost + insurance) Net 139.22 USD (22% profit) |
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Replies: 587 / Views: 65,039 |
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Posted 12/06/2013 5:26 pm
