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 Replies: 19 / Views: 4,141 |
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Pillar of the Community
Canada
871 Posts |
Just remember if you aren't a MC member, subscriptions can be expensive like the O Canada series.
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Pillar of the Community
Canada
2124 Posts |
It doesn't make sense to get a subscription if you are not MC member.
You have several options instead:
1) Buy all the coins together after the last coin is released throught a dealer, usually at issue price or lower.
2) Buy 1 by 1 with Canada Post.
3) Buy several $20x$20 and $100x$100 coins so you become MC member at a glance and you get free shipping.
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Valued Member
 Canada
300 Posts |
Arianzo, you are totally correct! I did a little comparison and so thought I'd summarize the differences between buying a subscription from the Mint, purchasing from the Mint one by one from the website, purchasing from them or Canada Post at a boutique (i.e. so no shipping), or buying the whole set from another dealer once complete. I used Gatewest because I live in Manitoba so I could probably avoid shipping by arranging to pick up at their storefront location.
As soon as I figure out how to format, I will post.
Edited by Ravenzcoin
01/22/2014 6:49 pm
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Pillar of the Community
Canada
2984 Posts |
Ravenzcoin, maybe it will be advantageous to order the coins from out of province to avoid PST. I know Manitoba has 8% PST which can be avoided by buying out of province.
I have the same situation in BC where most coins are charged 7% PST even though there is no GST. I usually order from Gatewest, Colonial Acres, and other dealers to avoid PST.
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Valued Member
Canada
300 Posts |
Well, sadly, formatting problems defeat my preparing any meaningful tabular presentation. So allowing for shipping and taxes (where applicable), my total costs would be: Gatewest: $517.27 Mint Subscription: $626.06 Mint non-subscription web order, individually shipped: $587.98 Boutique/CP or similar storefront vendor individually: $578.92 Note that silver is not PST exempt in Manitoba, and the two non-subscription methods mean I would have to buy an empty box (typically about $45.00 on ebay listing, which I have factored in). Gatewest is the best option for me. If someone lived in another province, another authorized Mint dealer with a local pickup might be a better option. |
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Valued Member
Canada
300 Posts |
@ MoneyPenny--good point about the buying out of province to avoid PST, but there is a trade-off with shipping charges. Of course, a possibly even better option might be to buy on ebay, if one can keep the shipping charges to a reasonable limit. I'm actually looking into the possibilities currently. |
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Pillar of the Community
Canada
3690 Posts |
Ravenzcoin, I assume you are formatting a spreadsheet for display here. The only way I've found to do that is to screen capture and paste that into jpg format (I use MS Paint) and then post the image.
Not a great work around but with a bit of cropping/resizing of the image it works.
Just one note on ordering from another province to "avoid" tax. Technically, you are required to self assess and remit the tax owing on the imported good to your provincial government. Failing to do so could be viewed as tax evasion. Yes the chances of you being caught are slim especially if you are dealing with small dollar amounts, but they exist. The same applies for any item that would be taxable in your home province/country that is imported from another jurisdiction (province or country) without proper taxes being applied.
Edited by CC-Ottawa
01/22/2014 7:35 pm
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Pillar of the Community
Canada
2124 Posts |
Also you can buy with The Coin Shoppe, orders over $300 is free shipping so you avoid taxes and shipping.
Other option is to wait for Black Fridays.
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Valued Member
Canada
300 Posts |
CC-Ottawa, I did not know that about provincial taxes. I have bought a lot of coins from ebay and while a few sellers have collected GST, only the ones in Manitoba have mentioned PST. I confess to being fairly ignorant about tax laws, but had assumed what I was doing was totally legal. May have to rethink! Thanks for the tips on formatting. You assumed correctly. I initially tried to copy and paste a spreadsheet. When that failed, I tried to simply copy the values, manually, but then they didn't line line up when I looked at the preview feature. So I gave up and summarized. I may well try that if I'm ever in a similar situation in future! |
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Pillar of the Community
Canada
815 Posts |
There's no way that item bought in another province is taxable, if for no otherreason, NAFTA
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Pillar of the Community
Canada
2984 Posts |
Quote:
Just one note on ordering from another province to "avoid" tax. Technically, you are required to self assess and remit the tax owing on the imported good to your provincial government. Failing to do so could be viewed as tax evasion Why is it tax evasion if the out of province dealer is not legally allowed to charge PST on out of province customers? From Gatewest Coins: Quote:
Prices in US Dollars are valid only on orders to the USA. Prices in Canadian Dollars are valid only on orders to Canada. Taxes charged to Canadian customers are as follows (where applicable):
•5% GST only applies to all shipments to YK, NU, NT, BC, AB, SK, QC.
•13% HST applies to all shipments to ON, NB, or NL.
•14% HST applies to all shipments to PE.
•15% HST applies to all shipments to NS.
•5% GST and 7% PST applies to all shipments (where applicable) within Manitoba. Effective July 1, 2013 Manitoba PST increases to 8% |
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Valued Member
Canada
316 Posts |
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Pillar of the Community
Canada
1502 Posts |
I don't imaging the shipping cost will make much difference for the RCM. Seeing as how RCM's dealers have ~ 15% margin on their coins (meaning the RCM is still making money selling at 85% of issue price), the RCM can easily absorb the shipping cost on purchases of multiple coins. Add in the abysmal price of silver and the RCM's insistence on higher and higher prices, they might as well offer free shipping for all. |
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Valued Member
Canada
300 Posts |
OK, I've been busy. The coins are being sold in some quantities on ebay by various sellers, and I couldn't help but notice Asyn had multiple copies of all of them, including a few with the box. I decided to try bidding on the Asyn listings and put a $35.00 limit on all but two of the coins, since the list price at the Mint was 39.95, and most of the coins were selling between 27 and 35 dollars on auction completions. The first exception was the colored coin, originally listed at 54.95 and for it I allowed my bid ceiling to be 45.00. The second exception was the coin that came with the box and for it, I allowed 45 dollars for the box and 35 for the coin, for a limit of 80.00. I won all but one auction (had to start a second auction for the hockey coin), and for most of them I got them for well under my maximum bid. Inukshuk__________26.88 Beaver____________29.09 RCMP____________28.88 Polar Bear________34.50 Summer Fun________28.27 Wolf_____________32.22 Niagara Falls______27.85 Caribou__________31.25 Hockey__________31.00 Orca (with box)___61.66 Maple Leaf______44.99 Holiday_________28.00 Subtotal_______404.59 Shipping and taxes brought it to just under 450 dollars. I'm not posting this because I think I got an awesome deal. On the contrary! Had I been more patient, I could probably have got most of them for a good bit cheaper than I did, but I wanted to be able to combine them to reduce the shipping as much as possible and I'm fairly happy with the price I paid on almost all of them. I did think I got pushed higher than I'd have liked on the colored maple leaf coin and was actually hoping someone would make one more bid so I could try again for a chance getting one cheaper! What I think this *does* demonstrate is how poor an investment these coins would have been. The animals held their value better than the others, but I still averaged 7 dollars cheaper than the list prices even on them. Fortunately, I'm buying them because I like them so it isn't an issue if they lose value. The really sad thing is, based on what people are willing to pay, the only thing that really would have been an investment was the box! And even it was not enough to outweigh the loss in value of the coins. Compare this total with the $517 (including taxes & shipping) I would have had to pay if I'd bought from Gatewest, the next cheapest alternative. Edited by Ravenzcoin
01/24/2014 10:48 am
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Pillar of the Community
Canada
2984 Posts |
Quote:
What I think this *does* demonstrate is how poor an investment these coins would have been. The animals held their value better than the others, but I still averaged 7 dollars cheaper than the list prices. Fortunately, I'm buying them because I like them so it isn't an issue if they lose value. Any coin with a mintage of 40,000 like these coins would be a poor investment. They will never appreciate much in value but collecting them because you like them is the correct way to go. |
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Replies: 19 / Views: 4,141 |
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Posted 01/21/2014 07:30 am
