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The RCM third quarter results

 
 
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Canada
4148 Posts
 Posted 12/03/2018  8:41 pm Show Profile   Bookmark this topic Add john100 to your friends list Get a Link to this Message
The CCN has an article on the latest fiscal quarter report, NCLT coins are down 29.5 million quarter over quarter or 47% maybe the RCM will finally get the message, you just can't keep flooding the market with anything, also seems like many collectors have finally seen the light.
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United States
2249 Posts
 Posted 12/03/2018  10:25 pm  Show Profile   Check canadian_coins's eBay Listings Bookmark this reply Add canadian_coins to your friends list Get a Link to this Reply
Do you have the link?

I found this report:
https://www.mint.ca/store/dyn/PDFs/...%20Final.pdf





EDIT: here is the link:
https://www.mint.ca/store/dyn/PDFs/...lease_EN.pdf


"As expected, sales of numismatic products continued to be slower in the third quarter of 2018 having decreased to $24.5 million (2017 - $43.4 million) after a strong year in 2017 driven by Canada 150 product sales, in particular sales of silver and base metal numismatic products are down 47% quarter over quarter."

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Edited by canadian_coins
12/03/2018 10:42 pm
Pillar of the Community
Canada
4148 Posts
 Posted 12/03/2018  10:39 pm  Show Profile   Bookmark this reply Add john100 to your friends list Get a Link to this Reply
Try Canadian Coin News site, will have it as today's news
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 Posted 12/03/2018  11:07 pm  Show Profile   Check canadian_coins's eBay Listings Bookmark this reply Add canadian_coins to your friends list Get a Link to this Reply
Based on those numbers I would say that the RCM is facing some difficulties.


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Canada
2510 Posts
 Posted 12/04/2018  2:36 pm  Show Profile   Bookmark this reply Add MoneyPenney to your friends list Get a Link to this Reply
You don't need a report to know RCM sales are down. There is simply a lack of interest in NCLT. A good indication is the low level of discussion on coin forums like this one and others. Sometimes days go by without anyone posting anything. To boot, it is usually the same few people posting.

Another indication are the low sale prices on eBay and coin auctions. Typically, ending prices are 30 to 50% of issue.

Finally, you know the RCM is doing badly is when there are very few sellouts despite lowering mintage. And the few coins that do sell out are usually found at dealers at issue price.
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3981 Posts
 Posted 12/04/2018  9:50 pm  Show Profile   Bookmark this reply Add commems to your friends list Get a Link to this Reply

Quote:
Based on those numbers I would say that the RCM is facing some difficulties.

Definitely!

IMO, the RCM has spent far too much time and effort the past few years promoting gimmicks and pop culture themes on its coins. History has shown that such themes have short-lived popularity. I'm not talking just coins, but for essentially all products.

As a result, the RCM has cultivated a group of short-term collectors and speculators that have now mostly moved on to the next "big thing." At the same time, it has shown only minimal interest in developing coin themes/series for its traditional customer base - the core that is generally made up of long-term collectors.

It was a gamble on their part - one that has now shown to be a poor bet for long-term growth.

Who knows, maybe they'll figure out the next "must have" coin theme or style and all will be well again. I just wouldn't bet the house on it!


Collecting history, one commemorative coin (or medal) at a time!
Original content (c) Commems, 2012-2018
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 Posted 12/04/2018  10:26 pm  Show Profile   Check canadian_coins's eBay Listings Bookmark this reply Add canadian_coins to your friends list Get a Link to this Reply
All true MoneyPenney.

I just didn't expect a 47% drop. This is huge.

One explanation may be that the intrinsic value keeps decreasing while prices keep increasing?

I don't collect much anymore but I do have data for the past 9 years of the Lunar Lotus (my only subscription) we can see that while Silver has come down significantly, the price keeps going up. Sure, cost of living plays a role. But still I think the RCM needs to consider raw materials in its pricing.

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Canada
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 Posted 12/04/2018  11:06 pm  Show Profile   Bookmark this reply Add john100 to your friends list Get a Link to this Reply
As I mentioned a few months ago at larger GTA shows, most good honest dealers just wouldn't make offers on recent NCLT except for a couple units and the baby sets while the other type of dealers were taking too much advantage of this market by offering only bullion for the common NCLT, that's a severe haircut. Even the recent Shopping Chanel show had all kinds of heavily discounted recent coins surely a sad sign for the RCM
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 Posted 12/04/2018  11:29 pm  Show Profile   Check canadian_coins's eBay Listings Bookmark this reply Add canadian_coins to your friends list Get a Link to this Reply

Quote:
At the same time, it has shown only minimal interest in developing coin themes/series for its traditional customer base - the core that is generally made up of long-term collectors.


I second that opinion.

In addition, I would say that quality is way - way worse compared to what it was 10-15 years ago. It seems that the RCM is betting on buyers who don't pay much attention to details. Coin collecting is about the details IMO.

Believe it or not, I even received the same flawed coin twice!! If the RCM has to do some layoffs I would suggest to start with that department.

I would also consider eliminating the reps. This is an unjustified overhead in 2018. Web prices should reflect lower costs since no intermediary is needed.



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Pillar of the Community
Canada
2510 Posts
 Posted 12/05/2018  12:41 am  Show Profile   Bookmark this reply Add MoneyPenney to your friends list Get a Link to this Reply

Quote:
IMO, the RCM has spent far too much time and effort the past few years promoting gimmicks and pop culture themes on its coins. History has shown that such themes have short-lived popularity. I'm not talking just coins, but for essentially all products.

As a result, the RCM has cultivated a group of short-term collectors and speculators that have now mostly moved on to the next "big thing." At the same time, it has shown only minimal interest in developing coin themes/series for its traditional customer base - the core that is generally made up of long-term collectors.


I think the RCM tried to gain new collectors by broadening their product line and creating gimmick coins. The goal of the RCM is like any business, to make money and the only way to do is to get new customers.

Let's face it, the traditional customer base is aging. Very few young people collect coins. There are far more things that young people are into today.

Just go to any coin show. Just about everyone is over 50 and male.
How can you sustain you base when your demographics are disappearing.

For example, the RCM is trying to broaden their base by creating glow in the dark dino coins that appeal to kids and Murano glass coins that women may like.

I remember the line up outside the Mint store in Vancouver for the 2nd glass insect coin. It was down the block and half the of the people in the lineup were women. You just don't see that many women at coin shows.

So it is just business good business sense to get new customers.
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 Posted 12/05/2018  01:26 am  Show Profile   Check canadian_coins's eBay Listings Bookmark this reply Add canadian_coins to your friends list Get a Link to this Reply

Quote:
Very few young people collect coins. There are far more things that young people are into today.


The base is disappearing because fewer people use coins. The writing is on the wall as they say.

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