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 Replies: 73 / Views: 15,977 |
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Valued Member
Canada
413 Posts |
I don't know, it seems that at this point in time RCM is selling their 1 oz NCLT silver coins at around the $100 mark. The price of silver is around $17 I believe - therefore buying a NCLT 1/4 oz of silver for $20 seems to make more sense than buying an NCLT 1oz for $100 or almost 6x spot for a fancy coin that is essentially bullion as well. I like the xxforxx series for what they are affordable and I like other NCLT coins but I also purchase bullion coins for what they are "Bullion" There's no right or wrong to collecting |
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Pillar of the Community
Canada
2124 Posts |
Quote:
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Anjohl
I just saw a guy buy the $20 Wolf for $23". This RIGHT HERE is the problem. The fact that that purchase illicits incredulous responses from people highlights what a ripoff this series is, for all parties involved. The buyer was a genuine collector who told the dealer that had all the $20x$20 coins except the wolf so I don`t see any illicits practice at all. Quote:
For buyers, they are spending 4x Spot on a coin that is essentially bullion. And for the rest of the RCM coins it's 4x or even more ! So stop dealing with RCM at all! Quote:
For dealers like myself, it is literally impossible to make a profit off them. This series needs to end.
This part is hilarious. So, as YOU can't make a profit off them, RCM need to stop the series ... sure .... better idea, send a letter to RCM about all the items you can`t make a profit so they stop issuing them  Edited by arianzo
11/03/2014 12:14 pm
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Pillar of the Community
Canada
1751 Posts |
Interesting comment Anjohl, I usually get at least $10 above $20 on the $ 4 $ series. I've seen other sellers get top dollar for these coins. Therefore your comment confuses me greatly. I enjoy these $ for $ series and intend to have 1 full set of each.
I will buy these coins for face, from anyone needing to sell. I pay lettermail ship fee. They do need to come in original folder and the seller needs to be able to wait until I have the funds to pay with. Those are my 2 terms, and of course I'd pay for coin prior to taking delivery.
I use them as an imformal savings account I can veiw daily.
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Pillar of the Community
Canada
1505 Posts |
Anjohl -
Now I understand your issue with these coins, you can't make a profit off them... That explains so much.
I have sold 10 at $25, probably not enough money/volume in it for you. I give your argument a bit more credibility now that you have explained your real issue. It takes money away from higher margin products that you sell. Essentially the mint is hurting its dealer base with low/no margin coins. I would be curious how well Canada post does at $25 a piece.
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Valued Member
 Canada
147 Posts |
So I had an interesting/sad conversation recently. Someone who had received two $200 Towering Forest Coins as wedding gifts. She wanted to know what they were worth and I gave her the usual responses and suggestions. She had already taken each of those steps. To my shock, not only was she unable to redeem these coins at the bank (no surprise), Burt when she went to the Mint boutique she was informed that she could only receive store credit for those coins if sheer had their original receipt. I am going still shocked by that response. No risk my eye.
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Valued Member
Canada
109 Posts |
Mint boutiques only give store credit if returned within 30 days and accompanied by original receipt!
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Pillar of the Community
 Canada
5403 Posts |
The mint is right on the edge with all the stuff they are continually churning out. The house of cards is on the verge of collapse. There is just no way this can carry on in my opinion.
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Pillar of the Community
Canada
5324 Posts |
If one goes to their bank branch with all your accounts, I can not see how they would not take these coins for deposit. The average bank customer has car, home, visa, even account fees that averages 1000s every year, it's unbelieveable they will not accept for deposit with the protocol in place, I and many other members have deposited a few 100.00 of these coin at our local branch. Walking into any random banks, I can see why they would refuse them the banks don't make 1 to 2 billion every 90 days by being nice.
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Pillar of the Community
Canada
2984 Posts |
Quote:
Mint boutiques only give store credit if returned within 30 days and accompanied by original receipt! Unless they changed their policy recently, there is no 30 day/original receipt requirement for the $20/$20 and the $100/$100. I had no trouble using $20/$20 and $100$/$100 as store credit even when those coins were months after release. They took back the first $100/$100 coin, the Bison, even though it has been released some time ago. And no receipt required. That was at the Vancouver Mint Boutique. The Mint Boutique provides refunds for ALL coins purchased within 30 days, with receipt. This is the same policy for coins bought online. Edited by MoneyPenney
11/25/2014 6:51 pm
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Pillar of the Community
Canada
2124 Posts |
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Pillar of the Community
Canada
2124 Posts |
This is from another recently thread, where someone has just bought NCLT coins that the Bank accepted from a customer: https://goccf.com/t/191320 |
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Pillar of the Community
Canada
1528 Posts |
Quote:
So I had an interesting/sad conversation recently. Someone who had received two $200 Towering Forest Coins as wedding gifts. She wanted to know what they were worth and I gave her the usual responses and suggestions. She had already taken each of those steps. To my shock, not only was she unable to redeem these coins at the bank (no surprise), Burt when she went to the Mint boutique she was informed that she could only receive store credit for those coins if sheer had their original receipt. I am going still shocked by that response. No risk my eye. It is bad optic for the mint not give cash refund for these coins. It's true that not all bank take these as deposit. It's more procedures for them to follow and they don't get anything out of it. More work for nothing other than helping the customer. It's all depend on the bank and how knowledgeable their staffs are. That being said, there are banks that accept them. Universalcoins: next time tell your customers to go to the TD bank in bayshore. They take them. |
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Valued Member
Canada
147 Posts |
Lostwords: Thanks for the tip. I will definitely pass it on to my customers.
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Replies: 73 / Views: 15,977 |
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Posted 11/03/2014 12:14 pm
