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Replies: 19 / Views: 6,520 |
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Pillar of the Community
Canada
634 Posts |
Safe travels DD...and others in that mindset...but can you share with us your most gratifying moment as a MC member if any... And what is your most cherished item(s)....during your tenure as a MC member
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Pillar of the Community
Canada
3690 Posts |
Same boat. MC for more than a decade, spent less than you this year and won't be MC after July 1st. Kind of a slap in the face IMO. The Mint really should look at lifetime spending to give those of who have spend considerably over the years a perpetual MC status. I think now if you reach a high level in one year, you get a lifetime membership but they don't consider a decade or more of consistent loyalty to be worth anything.  But either way, I likely won't go back to buying from the Mint. I actually spent slightly more via a dealer this past year than from the Mint but mostly to fill in a few coins from previous years....many at large discounts. I am a very selective NCLT buyer now. lol
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Pillar of the Community
Canada
6768 Posts |
Welcome to the club. For me even not huge amount of money raised alarm, but really countless RCM and other mints offers. I buy 2-3 NCLT coind per year , plus some Bullion, and happy with this. Collecting isn't hoarding
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Pillar of the Community
Canada
798 Posts |
Also an MCP+ member for 5 years and I have only spent $130 this year vs $9000 last year. Completely frustrated and turned off by the Mint. We are putting a new kitchen in this October and just had a sprinkler system installed in the lawn.
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Pillar of the Community
United States
2408 Posts |
Good decision Darryl! I started collecting NCLTs in the 70s and my spending escalated to almost $8K/yr in 2007-2008. I enjoyed every minute of it but I began to worry about where the RCM was heading with NCLTs, high markups, irrelevant themes, the flippers, etc. I had too much money locked away and although I never intended to make this an investment, I didn't want to lose money either. Then in 2009 I began to unload everything and eventually paid off our house. I still have a handful of coins, mostly proof sets which are usually worth bullion. Those will go also. I did enjoy collecting the X for X but a flawed system ruined everything. I still buy NCLTs but ever so rarely that I will never be granted another rep. and I'm OK with that. Going forward, even if the RCM were to cut releases by 50% we'd still have too many of them. BTW Coins/Currency in general is on its way out - but that is another topic of discussion.
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Valued Member
Canada
194 Posts |
This is only my 3rd year collecting, first 2 years I was MC PLATINUM PLUS and this year MC PLATINUM PRESTIGE. I have plenty of complaints with the mint but I still enjoy the coins, all the coins I purchased are on display and I don't stress over what they are currently selling for on ebay. The things that really ticked me off with RCM I was relentless with and pushed my complaints until I was heard and satisfied. While far from perfect, I firmly believe the Royal Canadian Mint produces the best NCLT product in the world.
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Valued Member
Canada
393 Posts |
I'm just shy of making silver status now with no hope of ever reaching gold level again.
Lately I have been buying locally at a small discount often ahead of any shipping dates set out by the mint. Not only do I get to see firsthand what interests me, I'm supporting the local dealer with repeat sales.
I recently dumped $670 of mint product in an auction and was lucky to get $450 of it back. Years ago the drop in price was more gradual in my opinion, but now everyone's looking for dirt cheap material to resell.
The only real draw to having a special status is getting the free shipping on low priced/free stuff like the circulation packs and boards.
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Pillar of the Community
Canada
2845 Posts |
I think taking your wife on a European vacation is an excellent idea! Great fun to plan as well, plus far more captivating than pondering over monthly NCLT releases in my opinion. 6 years of MC membership is probably twice as long as average. While their program turns additional profit from a select group, the way it's set up is bound to cause buyer fatigue and so then customers leave. Perhaps that's intentional as RCM can replicate the same similar themes over and over, knowing each new group of buyers will not notice. Other than SD's, 50c rolls and an annual uncirculated set, each an extension of my circulation collection, nothing else tempts me in the slightest.
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Pillar of the Community
Canada
1027 Posts |
I believe that the RCM does make some of the finest coins in the world as well. I am platinum prestige now for the last three years and for the next cycle, I plan on reducing my spend significantly. I get a bigger bang for my buck from dealers who are so grateful for my business. I now want to unload a lot of the coins I purchased and really do not know how. I will have to learn about ebay selling or going directly to a dealer with the stash of coins I no longer want. Any suggestions from experienced sellers would be so appreciated!!
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Valued Member
Canada
83 Posts |
The status levels we attain for our spends have distorted the view of many here, I feel. If we aim to reach the status of a particular spend, and then get bad feelings upon the achievement it should not be a surprise. So, following from this, I have to also disagree that the purpose of buying these baubles is to "collect." The salutary connotations of being a collector rather than mere hoarder are too blatant to ignore. I agree that the products are of a very high quality and, further, are denominated in local currency -- both of which I like. If silver goes up a lot --and that should be IF--we will have made wise investments. Otherwise, I think of these as insurance policies which can be enjoyed like art. That is, we are buying stuff that will go up in value if many of the other assets commonly owned do badly. So there is really no unequivocally positive upside here, unless one is a Cynic or does not have any kind of budgetary constraints. So buyer beware as usual, and I want to note also that a forum like this is valuable precisely because is fosters and facilitates exchanges of information and different points of view. While I do try to encourage other people to correct my mistaken opinions I am not nor will I ever be a fan of censorship.
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Pillar of the Community
Canada
634 Posts |
Very well stated... May I add...as well...assuming on got you're very eloquent points headlessone... One's disappointment and subsequent announcement to exit the holy NCLT covenant for coming up short on the perennial requirements for MC status this year is really not what it's all about... Something might come along and you're back in fully - In other words...no need for tears or any good byes...the good buys might just be few releases down the calendar - and enjoy it regardless 
Edited by Electrum 05/09/2017 12:14 am
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Valued Member
Canada
457 Posts |
One thing to keep in mind as you get out of one hobby or even cut back on it you will soon find yourself looking for something else to occupy your time. Years ago I spent all my time and money on stock cars. All I have left is memories, pictures and a lot of VERY expensive plastic trophies! Then I got interested in expensive sports cars and motorcycles, memories and pictures galore but no trophies. Lately I've been playing with side by sides, WOW talk about an expensive hobby! 30 to 40 grand for a top of the line buggy, worth about half a year later, super easy to blow up a $500.00 part every time you do something fun.... by fun I mean dumb ;) I think the few grand a year I spend on coins is a waste of money and I keep thinking I should stop but it really is one of the least expensive hobbies out there, and there is always the possibility they may actually be worth something one day. Do what you enjoy at the time and NEVER regret it.
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Pillar of the Community
Canada
5324 Posts |
You are correct enjoy your hobbies, I met a few really successful people who makes a vast fortune every day but they got into owning horses either show or racing and loses small fortunes in it, but they seem to like it. No matter how much money you have in the horse scenario, someone always has more to spend
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Pillar of the Community
Canada
1027 Posts |
@falcon Very well said. It is a hobby and I find it interesting that the biggest posters, on most topics on this forum, are stating that their spend in the past year will not be qualifying them for MC with the RCM for the next cycle. Are they still buying coins from other sources or are they completely backing off buying any coins? I would not be on this forum if I were not collecting coins. This is where I come to find out about others' opinions on new NCLT releases from RCM. I really do need to unload a bit because they do not fit in with what I want to collect now. I will buy selectively this coming year and who knows what gems the RCM may produce that may make me a PP again for next year's cycle as I have already made PP for this cycle. AND.you are right that there may always be the possibility that they may actually be worth something one day. Let us hope:)))))) So, for me, it is not bye bye NCLT for now. 
Edited by New1954 05/09/2017 07:40 am
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Valued Member
Canada
103 Posts |
Agree with recent posts. I have always collected coins. Will continue to do so. But I consider the investment aspect in a portfolio way. I buy coins like I buy art. I have to like the coin to purchase but consider it purely a secondary, speculative part of my investment portfolio. If it pays off over the long term, great, but if not that's OK, at least I will get part of the investment back, or pass on to my children. Not that I don't consider investment aspects of a coin purchase especially if the coin is relatively expensive, but it is not my primary motivating factor in making the purchase. If I want to make a guaranteed return, there are many other ways in which I can and do invest my money.
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Replies: 19 / Views: 6,520 |
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