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 Replies: 18 / Views: 3,914 |
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New Member
 Canada
5 Posts |
Here another picture..  |
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Pillar of the Community
Canada
576 Posts |
"Curious comment about 20% discount in secondary markets.. Aren't coins supposed to get a price hike once are not more available at the mint ?" Welcome aljawo Good advice on returning it . If they can come up with a replacement great if not the advice above is pretty good. Odds are it will be on sale in a few months. Currently buying new RCM products at issue price is much like buying pretty scratch tickets. The odd one may go up in value but most hang around issue or as purelywasted stated, a 20% discount. You have to enjoy the art on these new coins because you maybe holding them a long time. Best of Luck (remember, I am just one voice and my ideas may or may not be what ends up in the end being correct. Liverpool |
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Pillar of the Community
Canada
3690 Posts |
That's a $200 for $200 sold at FV by the Mint. It is very unlikely that it will ever sell at a 20% discount.
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Pillar of the Community
Canada
1505 Posts |
Good catch CC-Ottawa, I did not look closely at the coin. My suggestion would then be to hang onto it (if you really like the coin) and look for another one at face value or close to it. When you get the new one, sell/cash in your damaged one for face or better.
At the very least you have a coin that will not depreciate from its $200 value. RBC seems to be the bank that will consistently take the $Xfor$X, assuming you have an account with them.
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Pillar of the Community
Canada
6768 Posts |
Quote:
"Curious comment about 20% discount in secondary markets.. Aren't coins supposed to get a price hike once are not more available at the mint ?" This is nice coin. but if you bought it as investment - forget about it and return the coin. This one will stay face value, and only in case if final mintage is low - the price will go up. As per for the imperfection - it's OK, imo - not critical at all. Edited by Silveroid
10/28/2014 7:39 pm
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New Member
Canada
5 Posts |
Thanks everybody for the insights.. I believe it is a rare issue because it was the first $200 coin minted in Canada.. (what the RCM says). They market now in parallel channels for a 10% premium.. What are mainly take is that the imperfection is not critical and of course fv will be always fv. I believe that all the $x for $x are a nice deal.. You get a crafted piece for free. Thanks again and I keep waiting for more thoughts, love forums! |
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Pillar of the Community
Canada
6768 Posts |
 to CCF Quote:
I believe it is a rare issue because it was the first $200 coin minted in Canada. First silver coin. RCM issued not a few $200 gold NCLTs. Quote:
$x for $x are a nice deal. Good coins in over all, but again, as per "deal" people have many stories trying to deposit for example "20for20" to the bank. |
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New Member
Canada
5 Posts |
Thanks Silveroid ! Actually I didn't know that you could cash the numismatic coins at a bank..
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Pillar of the Community
Canada
1751 Posts |
I get a kick at all the warning about cashing in these coins. When several people are successful and the mint has a set process in place. It's true the bank maybe not knowledgable and need to be educated on it. There's many sold on ebay at profit. Yes it does take these coins time to gain in value. Today's society is after instant gratification!! If it doesn't rise in value prior to leaving the mints doorstep, it's immediately branded a flop - good grief we are collectors mainly and not pure flippers. Yes people sell a popular coin occasional to generate funds for other desired coins. It's getting tiresome to hear coin bashing just based on sole fact of it not increasing immediately!! The smart shopper is aware of trend, and knows where & when to score a bargain. Yes, this coin value will increase over time like the 2011 maple $20 for $20, it will take time! |
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Valued Member
Canada
204 Posts |
This coin is really nice in hand, and it will definitely hold value so there is nothing to loose, even in coins where you loose some value, it is still worth it. These coins are not meant to be a business, it's more of an extremely cheap hobby, with not much next cost. As opposed to those who have a hobby of driving new cars, the minute the car goes from new to used, it's value crashes, but it does not happen with these coins, no matter what the coin it is, most if not all hold atleast like 80-90% of their value.
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Pillar of the Community
Canada
6768 Posts |
Quote:
Yes, this coin value will increase over time like the 2011 maple $20 for $20, it will take time! I will not bash the coin due to it's non profitability. I felt that the main reason that aljawo bought it - expectation for future recognition and raise of the value. And in my opinion: 1. Just do not see why this coin will be popular (only due to low final mintage( 2. The future profitability should be probably one of the lasts reasons to put the money in the coin. Btw: My TD branch re-opened after renovations. With media and free coffee/tea/treats from the old Citroen truck. And yesterday, seeing this, I entered there with my 6 "20for20" coins......They deposited them immediately, and this after one week ago, where teller and managers told me, that TD has no agreement with RCM and will not take the coins even for content price. This fact raised my belief in NCLT, but still, I will not buy "XforX" due to huge mintage and relatively poor design. Except "200for200" that have a potential, being big coin. |
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Pillar of the Community
Canada
1751 Posts |
@ Silveroid, it's a very interesting change of heart your bank had.
A positive change. I doubt banks will take other Nclt than $ for $ coins. I just think people shouldn't panic, but be persistent. I'm looking for certain designs, but must have folders.
I guess main thing, is to only buy, if certain you want the coin for collection. Using this strategy should lessen need to return to bank. We don't try and return other Nclt coins to bank! These should be treated same, thereby less pain for collector. I'm saying use same criteria, as for deciding to buy other Nclt coins.
Silveriod, I hope you didn't think I was referring to your comments. I was referring to the general tone that's emerging, when we all know the facts, the past couple years.
Yes, there's people buying a bunch to get the cash back discount on credit card. This I think is risky, it's the individual who needs to decide whether they accept this risk.
I don't see a risk in buying 1 coin for it's design, only my opinion.
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Pillar of the Community
 Canada
2360 Posts |
I figure if I buy a coin from the mint, it should arrive at my door in perfect shape, that goes for all packaging and COA, no scuffs, rips or damage. They will refund your money. You could then buy a good one for just above $200 on ebay and it will cost something for the delivery fee. But you will have a nice coin rather than one with a big rim ding. If you were to try to sell this later for a profit, there will be better examples out there fetching a better price than yours. At $200 face it will be worth $200, permanently with that ding. IMO. |
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Pillar of the Community
Canada
6768 Posts |
@Pocket_change:
Yes, the bank branch expanded, new stuff was there.
I believe, due to two reasons they just took it as a cash:
*New and updated instructions to new stuff.
*Do not refuse to customer under cameras of media
Btw, the lady that was near the teller, that I spoke with, told, that she will take them, for her, cause "She likes cute collectible items".
And do not worry about reply, I do not consider as personal.
Just wanted to define clear my position about this specific coin. I also have it, and at least for near future clearly know - it is more or less the same as $200 in the bank account.
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Pillar of the Community
Canada
1751 Posts |
@ silveroid - I love your posts- very insightful well thought out! I had a great laugh at your explanation of media & camera! If your $200 for $200 ever needs a home please let me know. I find it good entertainment the discussion these coins generate. There certainly a wide variety of opinions and experiences on these. @ r4mn33k please contact me. However, currently my email is broken. The past 3 days I can't log in, I'm working on it. Try contacting me on RDF, I'm Inglorious there. It's my cousins racehorse's name. To original poster alijawo, welcome , I hope you enjoy and learn from the forum. It's a great bunch of people. I've learned so much from everyone!! You made a great choice, and at least its on a less noticable spot I'm still waiting for mine from RCM. They're mucking around with it. They cancel and reorder it. I hope I get it. I got the 2 Oz Canadian monuments, very nice size and detail. I'm going to order 2 Oz train coin. Nice size of canvass to work on,low Mintage and better price, when compared to buying 2 1 Oz coins from RCM. Edited by pocket change 50
10/29/2014 8:46 pm
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Posted 10/28/2014 5:45 pm
