| Author |
 Replies: 45 / Views: 6,291 |
|
|
|
Pillar of the Community
 Canada
1751 Posts |
@'Northerncoins I whole heartedly agree with your comments. It's interesting to note, a routinely successful series is the Birds of Canada series. Which have 3 key elements: an affordable price, a low Mintage 17,000, an appreciates over the years in the aftermarket. Yet this is a cupronickel coin and not the pricy 99.99 silver metal. The first bird coin, issued in 2007 sells for $300-$500, it's issue price $24.95. Other bird coins continue to appreciate over the following yrs. This is what coin collecting should strive to be!! I'm not saying coins should have huge increase in value, however, there should be at least modest gains. They also accomplished this feat with the award winning 2012 Glow in the Dark Prehistoric Creatures coin, which sells above issue. They built on this success by increasing the Mintage and thus killing any potential for the other releases. A really smart move, on the RCM's part. Hopefully they've learned and will not do the same with their new success Huanted Canada!! This coin, in two weeks is selling from 50%-100% higher in the aftermarket. In many places, it's sold out or in limited supply. Hopefully the RCM will not raise the 15,000 Mintage and kill this 3 yr series. |
|
Valued Member
Canada
451 Posts |
The Mint is heading into a direction where collectors will not buy a coin until they get it at a cheaper price in the secondary market. A lot of dealers are going to flop as a result. The Mint put themselves into this position. Coins are still selling out right now, but it is really slowing down and there really hasn't been a big hit coin since the Superman gold. I cancelled my GL subscription after I received the case knowing I can get the rest of the set discounted on Black Friday.
|
|
Pillar of the Community
Canada
6768 Posts |
Guys, if you will be driven only by "possible future appreciation", you probably will have to buy many of the useless "junk" an "innovative junk", that not many people want to have.
Together with the coins like "Penny Farewell 5 coins set" and "George and the Dragon" (by RM), that initially minted to be desired, there are lots of coins like "2007 Snowflake", "2007 Birth set" and "2007 Nuthatch" that haven't been appreciated at the issue period.
So, for the long time - yes, it very nice and worth it....but be prepared to buy this all
|
|
Pillar of the Community
Canada
867 Posts |
I caught a bit of the show too.....I like how he packaged a series of old bank notes, and of course the notes he was displaying were minty fresh. WRT to NCLT coins from the RCM, buyer beware...if you are buying them because they look cool or you like them, great. If you are buying them in hopes of getting your money back in future years, forget about it! I have a bunch of specimen sets from the 1970's and 80's to sell you. |
|
Pillar of the Community
Canada
2019 Posts |
Quote:
I have a bunch of specimen sets from the 1970's and 80's to sell you. Lol , true that...luckily I only have 2 specimen sets...  |
|
Pillar of the Community
Canada
1751 Posts |
Regarding the specimen sets, I don't understand why there's little demand for them. I do like the finish on them. However compared to silver the nickel coins aren't popular. This is something I just don't comprehend. Same seems to be true of circulation coins. It seems silver coins always carry a premium. The one exception I notice are certain large & small cents, with a few nickel dates added. I can understand no premium for the plated coins.
The lack of desire for nickel coinage baffles me.
|
|
Pillar of the Community
Canada
815 Posts |
It comes down to what the Mint's products are for. If you view them as an investment, stop buying immediately. Only a limited release of 10-20 coins/year with 5000 mintage or less each will return the mints products to that. If you just like collecting proof coins, go ahead, keep buying.
|
|
Valued Member
Canada
147 Posts |
This year, I decided to cut all new Mint products out of our inventory and it was a great decision. We never ordered enough to be able to get the volume discount that Bromberg, Gatewest, and J&M are able to deal in. Then add to the fact that every Canada Post location sells the Mint products and we have to compete with the Mint boutique. The demand has dropped to maybe 10-15 customers asking for 2014 products. We only deal in secondary market RCM products now. I agree with the majority of the sentiment here. NCLT products are far too overpriced, with a consistent degradation of quality. I would like to appreciate them and when I do buy them, I do enjoy them. It is just so hard to make any decent money with them. |
|
Pillar of the Community
Canada
3690 Posts |
Canary in the coal mine? If a long established dealer is telling us there is no money in (relatively) low volumes of NCLT sales, then we should probably be worried about the long term health of the hobby. The move by the RCM to use over 6000 CP outlets as a distributors IMO has been to the detriment of lots of smaller dealers. The big guys will survive but in the end that leaves us with few knowledgeable dealers. Plus in today's world, dealers need an on line presence. E-commerce is a very significant part of the equation and those dealers who depend on foot traffic to support their businesses suffer. That said, overpricing and the sheer volume of releases is very troubling. But of course, anyone who's been part of the NCLT hobby for very long knows that the current paradigm is unsustainable. Still I will say that watching the TSC broadcasts gives us a great opportunity to see the coins out of their holders and in good lighting. I appreciate that, even if I don't buy them. |
|
Pillar of the Community
Canada
1751 Posts |
 Umiversal Coin, I appreciate your presence and insightful comments. This speaks volumes, coming from an average dealer! I agree with CC Ottawa's comment regarding Canary in the Coin Shop. I believe you made a smart move. Also I made great purchases from your store my First month of collecting Nclt. The service was fantastic! Yesterday I looked at my 2 credit card bills, realizing I spent close to $3,500 this year alone on new mint products. I didn't realize I had spent so much. A month ago I cancelled all my subscriptions, I was just receiving too many coins! I couldn't appreciate them all at that rate. I've promised myself no more buying until possibly Black Friday. I'm also going to sell the ones, not really appealing to me. This will bring up the bank balance for summer activities. I let it get way out of control. So now it's going to be one Day at a Time. Hopefully this will stem the buy urges! It's great to hear a retailer agree that the mint offers a glut of coins and they're over priced. I commend you highly for your honest opinion. It's a brave thing for a retailer to admit certain product lines are currently overpriced! I think part of what happens, is a collector gets used to making regular purchases, and it becomes a difficult habit to break. I know I'm guilty of this. It's truly ridiculous paying $100-$110 for coins when silvers at $20-$22 an Oz, yet I've done so regularly this year. I finally woke up, and gave my head a shake. As collectors have gotten used to paying $100 per ounce of silver, mints have slowly increased prices. I'm referring now to most government mints, as buyers we've trained them well. Now we need to untrained them and ourselves. This will not be an easy or quick task to accomplish. I truly applaud all the great posts in this discussion. |
|
Valued Member
Canada
147 Posts |
Thanks for the kind words! You're welcome to stop by any time, even just for a chat! I certainly don't want to scare anybody away from collecting NCLT products if it is what they really want. As Anjohl stated, if you enjoy them, then certainly keep on collecting them. Despite my opinion on most of the Mint's offerings in the last few years, they do strike a few real nice chords. The cu-ni Birds series are fantastic -- its a solid, clearly defined theme with a unique design with every issue. I also found the Superman collection to be top notch in design (okay except for that dog called the Vintage Superman coin), it just suffered from the overpriced issue. 2011, that's when I lost faith in the RCM. When they changed production of the uncirculated set from Ottawa to Winnipeg and issued business strikes instead of gorgeous BU pieces, yet charged the same price, I stopped wanting to support them. I felt it was such a thorough disservice to set collectors. I don't even want to get into the disconnect between Mint product and bullion prices. It just makes me want to cry. |
|
Pillar of the Community
Canada
1751 Posts |
@ Universal thank you for the kind offer, if I'm ever Out east I will stop in! I I again wholeheartedly agree with you comments. I didn't realize in 2011 they started using circulation grade coins for the gift sets. It's a very low move to be certain. Hopefully soon they'll Have an insightful marketing team, willing to make and stick with positive changes. I really want to be proud of the RCM. It's also a telling sign, they're not proactive in fighting off the Chinese counterfeits! I'm seeing so many counterfeit Nclt coins being sold at high prices for what theyre really are. Some sellers are getting above $50-$80 a coin, this makes me both angry and sad. I'm also am great full for the knowledge within this forum. Can coin store owners put any pressure on the mint, to take action against the counterfeiters? Edited by pocket change 50
06/24/2014 7:35 pm
|
|
Pillar of the Community
Canada
2019 Posts |
Ya I hope this doesn't turn into the great hockey card debacle of the early 90s...I still have like 40,000 hockey cards stashed away lol that are not worth the paper they are printed on....
I really like coin collecting, my first bunch of coins I collected where mostly circulation coins / silvers etc and I just had them stored in my top dresser drawer , well one day my daughter who was like 8 years old at the time found them and had a grand old time at the corner store lol, it was like a month later that I realized they were missing, too late to go looking for them...shrug..ah well life happens.
Anyways lets hope things dont get too crazy in the NCLT field as I do like to see the new coins and such but things sure seem to be getting out of hand from where I am sitting.
|
|
Pillar of the Community
United States
3789 Posts |
great discussion guys! I been really behind the ball on collecting anything coin wise. I think the last thing I bought was the FIFA domed coin. Ok, I pretty much agree with you guys. I am of the school of thought that these coins should increase in value overtime in addition to buying what you like. I buy what I like from everyone. BUT. lately I have gotten sick of many coins, such as I grew tired of the US Mint offering of silver and gold american eagles. I am never buying any of those again, I have been a long faithful buyer. I have bought some RCM NCLT coins because of their uniqueness in animal coin offerings. One series I liked was the Untamed Canada, I bought the Fox and Pronghorn silver coins, and I bought the gold Fox coin. My turn off tho, has been the high costs. These coins I have gotten for wayyyy less by waiting for them to show up on ebay and then bidding on them. I think one major blow to the RCM and its prices is the sliding and now go no where price of gold and silver. Once prices stopped rising, I think everyone said, "wait a minute". I know I have pretty much curtailed my shopping in coins because 1- until prices really go in one direction, either up or down, I dont want to buy coins. I am fine if prices rise, I;ll keep buying. I am fine with prices dropping, I'll keep buying. But I want to know whats the going market price. I cant get a handle on that with gold and silver bouncing all over the place. 2= many of these mint releases are just getting really long in the tooth. How many beaver coins can you buy, as several folks have said that.... nothing seems fresh. I have enjoyed several of these russian and german coins that featuure african coins and animals. Even the US Mint has bored me to death..... |
|
Valued Member
Canada
411 Posts |
I'm getting depressed...maybe I picked the wrong hobby and should go back to my old hobby, collecting watches !
|
| |
Replies: 45 / Views: 6,291 |
First Page
Posted 06/23/2014 5:17 pm
