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 Replies: 213 / Views: 42,292 |
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Valued Member
Canada
354 Posts |
I understand that the RCM is now offering tasteful home extensions so that collectors have room for all their new issues for the next couple of years or so...
Don't rush out, even though it may look like they're almost sold out, there are lots of them on the market. This is one of those home renovations that won't add value, but will actually decrease the value of your house over time. It may look nice, but it will keep falling off your house as the fit isn't just right and it's made of cardboard. |
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Rest in Peace
Canada
1360 Posts |
NumisRob said: Quote:I understand that the RCM is now offering tasteful home extensions so that collectors have room for all their new issues for the next couple of years or so... Sir, I do think you have underestimated the size of the extension required for all the NCLT. |
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Pillar of the Community
 Canada
798 Posts |
Don't forget there are many brick plated versions: specimen, proof, reverse proof, matte, ultra-high relief and rustic. If you guys wait a year though, the homeowner will sell for half price.
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Pillar of the Community
Canada
798 Posts |
This thread has been viewed almost 10,000 times and the issues brought up here clearly resonate with the RCM's customer base. The Mint needs to listen to what is being said here!! |
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Pillar of the Community
Canada
1461 Posts |
Undoubtedly the mint makes far too many coins. If you look at NCLT coins no differently than any other devaluating item you may buy for pleasure, home or personal use, you'll be fine. You want to speculate and possibly make money, stick to old coins.
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Pillar of the Community
Canada
6768 Posts |
Quote:
Undoubtedly the mint makes far too many coins. If you look at NCLT coins no differently than any other devaluating item you may buy for pleasure, home or personal use, you'll be fine That's truth. Take a look at South African silver Proof coin (thanks for other forum, paying attention). The mint issues (or even some Germany Mint) their first Silver Bullion coin with Proof finish, and the sold prices on ebay in average CAD 500...just for 1oz silver coin. And RCM minting huge amount different designs, but their value on the secondary market - luckily if 50% of issue... |
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Valued Member
Canada
276 Posts |
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Pillar of the Community
Canada
798 Posts |
I read that article today too. Aside from the $20 for $20 debacle, I got the impression from the article that the Mint is too focused on gimmicky items and they are out of touch with customers.
Edited by JGG
05/21/2017 12:28 pm
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Valued Member
Canada
276 Posts |
How I read the article's meaning. The RCM motives for attempting to attract new customers to the hobby was honourable, but the negative financial effect on the business side was a faux pas. |
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Pillar of the Community
Canada
2984 Posts |
The most pertinent comment of them all came from the president of the Royal Canadian Numismatic Association: Quote:
Nienhuis also said that the coins are unlikely to appreciate in collector value because so many have been minted.
"It'll take a long time before these have really any significant collector value," he said. "You're going to be hard-pressed to recover your investment."
That comment applies to ALL NCLT products, not only the $20 for $20 coins. |
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Pillar of the Community
Canada
798 Posts |
Yessir MoneyPenney, thank you for that. That angers me a little bit ... they are always touting the words 'rare, low mintage, invest, appreciate, etc' during the sale, while they fully realize they are none of these things. That is a penny stock pump style, and the RCM needs to really bring some honesty and integrity back into management. |
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Pillar of the Community
710 Posts |
Effectively the floor price for these coins is $20 (ie Face Value). So people are simply acting rationally to exchange/return each coin for $20 cash. Nothing wrong with that. It would be much, much cheaper for the RCM to declare these as circulation coins and handle as such through the existing coin circulation process that is in place. Food for thought... |
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CCF Master Historian of USA Commemoratives
 United States
12269 Posts |
The Royal Canadian Mint Act does not give the RCM the authority to declare any of the $X-for-$X coins as true circulation coins. Such authority rests with the Governor in Council. It's also interesting to note that the Act does not authorize a circulation coin with a denomination greater than $2.00. Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Pillar of the Community
710 Posts |
Thanks for the clarification.
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Valued Member
Canada
411 Posts |
I pretty well sold off my whole coin collection in the past year but decided to keep the Murano glass coins, the complete set of XX for xx face value coins and the gold star trek coin for now. I still have the 2011 Fabulous 15 that I'm trying to unload with no success. I completely lost interest in the hobby.  |
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Replies: 213 / Views: 42,292 |
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Posted 05/17/2017 2:12 pm
