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 Replies: 265 / Views: 39,122 |
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Pillar of the Community
 Canada
2984 Posts |
Quote:
Ya , plus raising the mintage from 10k to 12k didnt help , maybe if they dropped the mintage to 7500 or even 5000 like the first one then maybe this series could get back on track as far as holding/ raising in value, but then again its good for those who just like the coins period and dont care much about making a $ percentage The Mint quickly sold out all 12,500 of them, so why would they dropped the mintage of them to 7500 or 5000. The Mint is out to make the most money possible and they did that by selling out. They don't care about the coins holding or increasing in value. That is up to collectors. The only way the Mint will decrease the mintage of coins is if they are not selling as well as before. The perfect example are the $20 for $20 coins. The latest $20 for $20 coim mintage is 200,000, down from 225,000. It used to be 250,000. The last three coins in the series have not sold out. No wonder they are decreasing mintage. As for the Ventian Glass Coin series, I expect the mintage to remain at 12,500 for the next one. If it fails to sell out, then it will go back to 10,000 mintage. Edited by MoneyPenney
05/08/2014 10:23 pm
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Pillar of the Community
Canada
634 Posts |
You are bang on moneypenny-it appears to always be a win win for RCM. |
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Pillar of the Community
Canada
2019 Posts |
Same old same old.
Money penny you avoided the question (Could the fact that many are either cancelling or returning the frogs a sign that this may be the beginning of the end for this once super hot coin concept?)
Ya sure they sold out at the mint...but who did most of the buying? Resellers like you. Not attacking you here but at all but if indeed coins are being returned its from people/re sellers who bought too many and are not making enough profits now that the coin has cooled.
We all know just because the Mint sells out of something doesn't mean its a going to be a "hot" coin, just alot of hype and then the returns start a month later.
Edited by Northerncoins
05/09/2014 07:06 am
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Pillar of the Community
Canada
2984 Posts |
Northerncoins; I agree with most of what you are saying. Especially this statement: Quote:
We all know just because the Mint sells out of something doesn't mean its a going to be a "hot" coin, just alot of hype and then the returns start a month later. The Mint does this all the time by sending out "sell-out" alerts. Unfortunately, being sold out at the Mint is meaningless since there are plenty of other dealers, including the Post Office, selling these coins. Now to the issue of sending back coins because people can't sell them for a profit. We don't know the number of coins sent back for this reason. A few dozen? A few hundred? A few thousand? Your guess is as good as mine. But I doubt they are in the thousands because there is still demand for the coins. Also, remember the 30 day limit for returning coins you don't like. Plus the fact that you have to pay return postage deters people from returning them. A more likely reason for people on the waiting list getting them is cancelled orders. As for being a reseller, I don't do too much of that anymore. The only coin I bought this year in multiples is the glass frog coin and most of them I sold locally. You only earn $10 to $20 (if lucky) on a coin after ebay fees and BC PST. Its not really worth the effort. |
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Pillar of the Community
Canada
2019 Posts |
Ya that's why I suggested lowering the mintage's of these coins instead of raising them, sure its better for the Mint short term to increase the mintage's but for people like me who have seen the barrage of coins with 10k plus mintage's over the last few years, I hardly look at coins that have high mintage's now, unless it really peaks my interest, which are few and far between so far this year. edit: Because you can buy most high mintage coins cheaper later on from coin shops or even ebay. Edited by Northerncoins
05/10/2014 08:15 am
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Pillar of the Community
Canada
6768 Posts |
Personally, prefer the situation, when there is a balance between the mintage, and demand of the coin. So looks like, it was kept well for the Glass Frog. The 10.000 of the GB also was enough, but the coin has been hoarded... Well, it is not the best for people who resell the coins for a life, but business is the business. Better to see the coin avalable always for issue or small premium, rather it be rare with high asked price.
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Pillar of the Community
Canada
1461 Posts |
I think raising the mintage was an error and somewhat greedy on the part of the mint. The RCM needs to be reducing mintages not raising them. I don't really have a problem with the amount of designs but frankly I think the 8500/10000 mintage coins need to be reduced to 5000 and so on. If at any point a coin becomes popular and commands a significant markup in the secondary market place, then so be it. It would make up for the hundreds of designs that tank and eventually get sold for silver content. It would make the hobby more interesting and certainly a better investment. Edited by TheCoinHunter
05/11/2014 3:27 pm
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Pillar of the Community
Canada
2124 Posts |
How can you explain to the RCM Commercial Manager, that looks for immediately results, to reduce the mintage if they sell out with the actual mintage ? Btw, asyn has it: http://www.ebay.com/itm/201086676980Edited by arianzo
05/10/2014 6:47 pm
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Pillar of the Community
Canada
5324 Posts |
I can't wait for the next coin in the series a glass bald eagle, to revive sales.
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Pillar of the Community
Canada
981 Posts |
Nothing wrong with mintages it's the stupid prices they are still selling their coins for at $110 for the ship coin give me a break same with most others.
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Pillar of the Community
Canada
981 Posts |
Just wait for a year after the mint melts down most of their surplus coins a lot of these coins will have very low mintages and prices will rise on some of them
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Rest in Peace
Canada
1360 Posts |
It's a rare thing... but I do agree with Elkslayer. The prices on the coins continued to raise,as did the price of silver over the course of the previous 5 - 10 years. However this year, as the 'adjustment' happened, and silver dropped again to more reasonable $20/ounce level... we didn't see the mint bring the pricing in line and drop the prices down again. For that reason, I have greatly reduced my desire for NCLT. This thinking, I feel, is likely the cause for the soft secondary markets.
Back in the day, the most expensive 1 ounce coins were the Christmas 'bedazzled' ones at about $100 They would sell out. The 2013 Christmas wreath is still available at $115.
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Pillar of the Community
Canada
634 Posts |
With this series having shifted from what appeared to be a glass-blown bug theme to candy cane and most recently - amphibians - the next logical step would be a glass bald eagle to prop up sales as john100 posted...perhaps the eagle would be the background with the glass subject being the eagle's catch of the day, a fish or field rat...or hare.  Then the series could shift again to...any thoughts?  |
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Valued Member
Canada
480 Posts |
I'm leaning towards a snake.
With the quick sell out of the series they will not be lowering this mintage anytime soon even if the rest of their coins do poorly for the whole year. They can only go by what's on paper at the end of the day.
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Pillar of the Community
Canada
2019 Posts |
Quote:arianzo How can you explain to the RCM Commercial Manager, that looks for immediately results, to reduce the mintage if they sell out with the actual mintage ? Ya but they ship 80 percent of the coins to dealers before M/C /public have a chance to buy one from the mint, so they are not really sold out , just sold out of the 20 percent that they have for sale on the mints site. Not sure of the percentages but 80/20 seems about right. So is everyone (dearlers/resellers)really sold out of the coin or just hoarding to try and get better prices? Heck people were whinning about not being able to sell all their Butterfly coins a month after its release and it had 10k mintage and now the frog has 12.5 k , I just don't see the math here adding up. Edited by Northerncoins
05/11/2014 07:15 am
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Replies: 265 / Views: 39,122 |
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Posted 05/08/2014 10:27 pm
