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 Replies: 54 / Views: 6,316 |
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CCF Master Historian of USA Commemoratives
 United States
12296 Posts |
@Redzapid: There are no $X-for-$X programs in the US. @john100: I am not aware of any official, all encompassing policy in place for US banks to redeem NCLT coins at face value (or otherwise). The distribution of US coins and notes is managed by the US Federal Reserve System. If the Federal Reserve does not have a redemption policy for NCLT, individual banks would not have a way of getting NCLT exchanged for circulation currency. I have not seen a published policy by the Federal Reserve on NCLT. Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Pillar of the Community
 Canada
1571 Posts |
Thanks for confirming, I didn't think they did.
I thought the uncut bills the US has is pretty cool. And the prices are decent as well.
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Pillar of the Community
Canada
5324 Posts |
I was kind of curious of how other nations deals with NCLT, it seems only the UK copied the RCM x for x program and quickly they abandon any redeeming of all their NCLT coins, wonder why anyone would buy any Royal Mint products, they are like a Franklin mint product now, yet a couple months ago many collectors were going gaga over the Peter Rabbit coins. |
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Pillar of the Community
Canada
1571 Posts |
If they can't be cashed in, what's the point of any denomination on them?
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Pillar of the Community
Canada
5324 Posts |
I agree, but if The Royal Mint never marketed their x for x with redeeming guarantees, they can do what ever they want differing from the RCM policy. |
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Pillar of the Community
Canada
2845 Posts |
The $200 for $200 is obviously very profitable to RCM. The 2 oz Pop Art Canada Goose (sorry, full link didn't paste), same weight and diameter. http://www.mint.ca/store/coins/2-oz....V6iT1lfOerUBut the Goose mintage is only 3,000 @ $169.95 compared to what has to be reduced production costs of the $200 for $200 with a far higher mintage of 25,000. Without the $200 stamped on them, they never sell 25,000. Yet RCM continues down the same path even though there's never been a formal process for guaranteed redemption put in place and last quarter they issued a public warning: "A first quarter adjustment of $8.7 million was recognized to account for recent returns of face value coins, causing overall Numismatics revenues to decline nearly 8% in Q1 2016, compared to the same 2015 period. Management is taking steps to mitigate sales returns in the future."Their press release does not say "may". It reads IS taking steps. So what are the steps? I can't help but feel a huge sadness that a company operated by the Canadian Government is operating in what appears to be a secretive, deceptive and disrespectful manner in order to make money off the backs of its unsuspecting and loyal citizens. Edited by wildflowerAB
08/08/2016 10:53 am
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Pillar of the Community
Canada
1571 Posts |
I can't see them telling banks to stop accepting them. I believe they will lose a small fortune in future sales if they do.
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Pillar of the Community
Canada
2845 Posts |
@ Redzapsid I agree. As it appears nothing has changed, XforX still counts towards MC tiers, $200 has been resurrected, limits are the same, so what steps are being taken? It's the silence from RCM that's weird. Considering the $200 was to be released in May but wasn't, why not a further press release as a followup -- the face value program is indeed alive and well, RCMs commitment to this cherished popular and favourite of Cdn collectors, blah, blah..... |
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Pillar of the Community
710 Posts |
In any case, this is good news for people who enjoy collecting the $200 for $200. There must be enough demand for the RCM to release. |
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Pillar of the Community
Canada
2984 Posts |
Quote:As it appears nothing has changed, XforX still counts towards MC tiers, $200 has been resurrected, limits are the same, so what steps are being taken? It's the silence from RCM that's weird. Considering the $200 was to be released in May but wasn't, why not a further press release as a followup -- the face value program is indeed alive and well, RCMs commitment to this cherished popular and favourite of Cdn collectors, blah, blah..... During a recent visit to the Vancouver Mint Boutique I've been told x for x coins no longer go toward MC status. Perhaps this is the reason the RCM is bringing back the $200 for $200. |
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Pillar of the Community
Canada
1571 Posts |
I believe they do, however, they do not count towards the percentage you get back at the end of the masters club cycle
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Valued Member
Canada
192 Posts |
Now that us plebeians can see the coin: the coin at RCM...the style maintains that shotgun approach to the artwork; doesn't appeal to me at all, but I'm glad it's finally here for those who've been waiting! Edited by NeoSpec
08/09/2016 3:41 pm
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Pillar of the Community
United States
2408 Posts |
I can't wait for mine to arrive!! I will upload pictures and comments ASAP.
These are impressively massive coins in hand and whish I could buy one more just to hold in my bare hands.
Imagine paying for a night at the hotel... flipping the coin on the counter... "honey - keep the change"
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Pillar of the Community
United States
2408 Posts |
 In hand this coin feels good, and looks good. Amazing series. |
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Pillar of the Community
Canada
2845 Posts |
Canadian_coins your photographic skills continue to be absolutely amazing! But what causes the black specs on the Queen, particularly her hair and necklace?
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Replies: 54 / Views: 6,316 |
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Posted 08/07/2016 10:42 pm
