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 Replies: 58 / Views: 10,489 |
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Pillar of the Community
Canada
5324 Posts |
Dealers are working on 15 to 30% depending on volume.
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Pillar of the Community
Canada
1751 Posts |
The mints have effectively killed the mclt hobby in three years with so much minting of coins!! I'm sticking to collecting the yearly silver set and silver dollars until things settle down. I may add the odd extra coin occasionally depending on themes. However no where the amount I bought the past two years. I was pumped in 2012. It's a shame how things have changed. Hopefully the hobby can reinvent itself like the US did after their over minting in the 1930s. This goes for all mints.
Edited by pocket change 50
11/15/2015 10:37 pm
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Bedrock of the Community
Australia
21788 Posts |
I hope the RCM, RAM, The Royal Mint and the U.S. Mint read this thread. They are killing the goose that laid the golden egg. |
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Pillar of the Community
Canada
1192 Posts |
Bottom line is, as long as people keep buying new issues, the RCM and other mints (even private ones) will continue to pump out more and more. |
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Pillar of the Community
Canada
1751 Posts |
When I started nclt in 2012 I was excited by the variety. I had bought both circulation & nclt. Seeing the nclt bottom out I'm more inclined to watch than buy! I doubt any mint will see the thread. Looking at mint reviews it appears its mainly grandparents that are buying. I wonder how many belong to clubs or forums. One time I thought 7500 was low mintage, but now it seems high as well. what would members think is a good mintage number.
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Pillar of the Community
Canada
5324 Posts |
Somewhere between 3000 to 4000 max, just too many issues
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Rest in Peace
Canada
1360 Posts |
Quote:
One time I thought 7500 was low mintage, but now it seems high as well. what would members think is a good mintage number. At one time - this will tell my age, 25,000 was a 'low mintage'. With specimen and proof sets in the 50,000 - 75,000 range. At that time they were still sold out, as there wasn't anything else to collect. Oh yes, occasionally, there would be a special year, with special releases (eg: 1967 Confederation, 1976 Olympics etc etc) but they too eventually were being sold later for face value, or even less due to excessive mintages and low bullion value. So, less issued coins with higher mintages, or Higher numbers of issues...in smaller quantities. Your question is the finding the magic ratio. Edited by Dcadon
11/16/2015 7:59 pm
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Valued Member
Canada
256 Posts |
Prime example 2013 O Canada $10 .9999 Silver 12 Coin Set in Deluxe Wooden Box ebay # 231747836515Cost from RCM just under $400 when set completed. This one sold just now for $267 CDN just now. OUCH! |
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Pillar of the Community
Canada
1823 Posts |
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This one sold just now for $267 CDN just now. OUCH!
There was no bids what does that say very sad  |
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Pillar of the Community
Canada
798 Posts |
I called the Mint a few months ago and very respectfully asked them about the concerns. The response was swift and rude. In a less than civil manner the girl said, "our job is to make sure that we make a profit, not that you make a profit". ... I understand that they are a corporation and they are TSX listed, but something has to give here. Things have really gone off the rails. I have also noticed that they have been liquidating their gold reserves http://www.google.ca/finance?cid=2593400) in order to lower their costs so that they appear more profitable. Rather than purchasing new inventory, they are merely consuming previously acquired inventory and thus keeping their costs 'off this year's books', especially if they are claiming a depreciating inventory. Also, if you look at their quarterly reports, you will see that their net profit is decling by 10% per quarter. That is near 40% declines annually in net operating profit. I expect you will see layoffs soon as they get a little leaner based on their slow and steady declines in revenue. Either that, or a pile of cheap crap stamped out at very high prices to try and boost revenues. |
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Pillar of the Community
Canada
2845 Posts |
JGG you express some very valid points. Only to point out that RCM in a Cdn Govt Crown Corporation (and expected to churn a profit). In the event of losses, it is assured of never going broke because the govt would never let that happen - it mints our circulated coin. The TSX listing is Gold Reserve ETRs, not public shares of RCM. http://www.mint.ca/store/news/royal....VkqRunpfOrUThe NCLT is only a portion of their business. According to the most recent 1/4ly financial statement as posted on their website, it's foreign coin production that's most significantly causing recent reduced profit but I would expect demand for that to fluctuate. That's not to suggest there won't be more of the never ending diarrhea of themed NCLT. For whatever reason, people keep buying it and RCM has the right to assume that's because buyers buy it by choice. |
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Pillar of the Community
Canada
5324 Posts |
Apparently someone has posted that an act was amended recently that prevents the RCM from profiting on minting Canada's circulation coins, that would chop a chunk of profit. 3 to 4 % return in previous years is a small return for a company that can operate with a legal monopoly. As for NCLT sales one would think most collectors are smart enough to wait and be selective and that most of the RCM sellouts are in dealer inventories. Yes the RCM is a crown corp, so is Canada Post has not prevented them from loosing mega millions last many years. |
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Bedrock of the Community
Australia
21788 Posts |
To decide if NCLT is the right product for you to buy, have a look at ebay aftermarket NCLT prices for previous years, relative to their initial ex Mint sale prices. |
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Pillar of the Community
United States
2408 Posts |
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The response was swift and rude. In a less than civil manner the girl said, "our job is to make sure that we make a profit, not that you make a profit". Truth hurts sometimes. However, I wouldn't be so cocky if I were her. She might just be looking for a job soon if all of sudden loyal collectors abandon the hobby. |
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Valued Member
Canada
256 Posts |
JGG posts "I called the Mint a few months ago and very respectfully asked them about the concerns. The response was swift and rude. In a less than civil manner the girl said, "our job is to make sure that we make a profit, not that you make a profit". " Therein lies the problem with our mint. I'm not a flipper just a coin collector. If I want to buy a depreciating asset I would buy a new car. Drive it off the lot and lose 25%. So, therefore, I have curtailed purchasing from the mint. They are looking for the masses to sustain their profitability by exploding the market with everything and anything that may appeal to the masses. As noted in many, many posts buy their products on the secondary market at a greatly reduced price if you're interested to buy. Enjoy your purchase at the peril of the uneducated.
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Replies: 58 / Views: 10,489 |
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Posted 11/15/2015 10:30 pm
