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 Replies: 17 / Views: 4,747 |
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Pillar of the Community
 Canada
2984 Posts |
Visited the Vancouver Mint Store today for the last time today. Lots of memories there. Like most of the times I visited, the store was empty. Not a single person except the clerk there for most of my visit. For those outside of Vancouver, the location on the 600 block Granville street is in the heart of downtown shopping. Across from the store is the high end Nordstrom store. On the same block is Best Buy/Winners and some stores like The North Face. Basically, there is no way the store can afford the high rents in that area. With no customers the store must be heavily subsidized by the head office. If the store had a fraction of the the customers who lined up around the block for freebies, it would still be in business. There is sidewalk sign that let people know the store is closing on Dec. 2 and thanking customers for their past patronage and asking them to buy coins online. The coins will be shipped back to the RCM. Edited by MoneyPenney
12/02/2017 01:43 am
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Pillar of the Community
Canada
798 Posts |
My local post office stopped ordering coins from the Mint because 'you are the only one who looks at them". I live in the GTA.
Edited by JGG
12/02/2017 8:38 pm
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Valued Member
Canada
115 Posts |
Sad day indeed. I live in Vancouver, BC, and I am sad to see the Mint branch close down. However I understand why they would close it down, as the location is not good. It is too small and parking is hard to find, that is why I often buy my mint coins from the website. With the rapidly expanding internet and the rise of the digital age, it is more economical for the mint to run an online business rather than have to pay rent for a shop and hire workers to staff it and sell products physically.
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Pillar of the Community
 Canada
9867 Posts |
No loss, just another drain on the taxpayers.
Same coins,same selection,same price five minutes away at J&M.
Plus you get free parking and staff with some actual knowledge.
The special events there were cool but beyond that it was a complete disappointment.
"Dipping" is not considered cleaning...
-from PCGS website
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Pillar of the Community
Canada
2360 Posts |
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Like most of the times I visited, the store was empty. Not a single person except the clerk there for most of my visit. If the cash register is silent, then the business is not a business. |
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Pillar of the Community
Canada
2984 Posts |
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Same coins,same selection,same price five minutes away at J&M J&M Coins only have a couple glass display cases for NCLT coins so they can't display as many coins as the Mint Store. But you can ask for non-displayed items and they probably will have it. They do sometimes charge more than issue price for coins. On the other hand the RCM Store never charge more than issue price. Quote:
Plus you get free parking and staff with some actual knowledge Free parking is good. The staff is knowledgeable about older coins but when it comes to new releases they know as much as you and I. Overall, J&M is a good place to get supplies but their coins and currency are very expensive. One thing, though, J&M Coins and the other Vancouver coin store, Chantou, must be very pleased that the RCM store is no longer in business. It must have cut into their walk-in customers. Edited by MoneyPenney
12/03/2017 04:33 am
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Pillar of the Community
Canada
6768 Posts |
Didn't Mint boutique did some sales prior closure? To move some stock, displays, boxes or even posters etc?
So, when it closed the doors, does the place from outside looks the same or all identification has gone?
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Valued Member
Canada
324 Posts |
Pity its closed but is it a surprise? Most 'new' coins decrease substantially in value so why would someone pay $129 for a one ounce silver coin that they will be able to buy less than a year later on ebay for $65? |
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Pillar of the Community
Canada
6768 Posts |
Quote:Most 'new' coins decrease substantially in value so why would someone pay $129 for a one ounce silver coin that they will be able to buy less than a year later on ebay for $65 That's truth, but this is probably the updated (or just clarified) reality - unlike significantly expensive collectibles, the Mint's NCLT will be valued much lower, than in the initial purchase. In order the coin will appear for 50% need someone will buy it for full or near full price from RCM - regular customer or dealer. |
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Pillar of the Community
Canada
798 Posts |
If they sell new NCLT for $59, then people still won't buy. They'll wait for it to go down to $30. The time for the RCM to act was 4 or 5 years ago. It is too late now, the damage is done. They are reaping what was sewn as they say. |
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Pillar of the Community
Canada
2984 Posts |
Quote:
Didn't Mint boutique did some sales prior closure? To move some stock, displays, boxes or even posters etc?
So, when it closed the doors, does the place from outside looks the same or all identification has gone?
They had no sales. I was in on Dec. 1, business as usual. On Dec. 3, I happened to be in the area, so I went to the store. These are the pictures.   There was a guy inside the store packing up all the coins into boxes. Edited by MoneyPenney
12/05/2017 12:55 am
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Pillar of the Community
Canada
1782 Posts |
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There was a guy inside the store packing up all the coins into boxes. Sad sight. Don't think I would want that memory. "We are poor little lambs...who have lost our way...Baa...Baa...Baa"
In memory of those members who left us too soon...
In memory of Tootallious March 31, 1964 - April 15, 2020
In memory of crazyb0 July 27 2020. RIP.
In memory of T-BOP Oct. 12, 1949 - Jan. 19, 2024
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Pillar of the Community
Canada
5324 Posts |
Like the old saying, the writing is on the window, noticed at this Sunday's Brampton show a few dealers followed the Auction Networks table and started to 25% discount their RCM NCLT stock with very little success. |
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Pillar of the Community
Canada
798 Posts |
You can buy gold NCLT for under spot price on ebay. I just bought the 2004 bimetallic fractional set for $2750 CDN, and still I have a little buyers remorse.it was listed at $3100 and the accepted a BO of $2750. |
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Pillar of the Community
Canada
6768 Posts |
Thank you, MoneyPenney for 'closing pictures'. Appreciate the effort. When the Disney Store closed in old location in the Eaton Centre (2011 or 2012) , I thought, despite roumours, that they never come back to the Eaton. But they did, first to Yorkdale Mall, and then again to Eaton!!Might be RCM, with revised production and sales strategy will be back and even expand.... |
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Replies: 17 / Views: 4,747 |
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Posted 12/02/2017 8:37 pm
