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What Has The RCM Done That Has Mad You Off?

 
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Pillar of the Community
Canada
2610 Posts
 Posted 05/20/2019  07:02 am  Show Profile   Bookmark this reply Add MoneyPenney to your friends list Get a Link to this Reply

Quote:
My gripe has to do with advanced notices based on status, and this absolutely favor the rich, plain and simple.

[BTW flippers still exist - in smaller number - yet they are still enabled by the MC program.]


Depends on how you define rich. It really depends on amount of disposable income you have. I spend about $5000 a year on coins and I don't consider myself to be "rich". I don't live in a mansion and drive a Mercedes or BMW car. I certainly can't afford a 1 Kilo Gold coin.

Which coin are you talking about this year that is flippable? Maybe the Pysanka but at most that coin is break even or $10 profit. If you know of any coin that you can make money on, let me know and I will rush out to buy some.

The fact is a coin is only flippable if all dealers sell out their coin. That means demand is outstripping supply. The RCM selling out does not count unless other dealers sell out fast.

How is the MC program enabling flippers when flippers can buy coins anywhere besides the RCM? Every coin that sold at the RCM this year could easily be found at other dealers.

The only people making money on eBay is the dealers who get a discount from the RCM. MC members get no discount. So if a MC member buy from the RCM at full cost, the secondary market price must be high enough to cover the cost of the coin + related selling fees to make money. Like I said, there is no coin this year that fits that category.
Edited by MoneyPenney
05/20/2019 07:04 am
Pillar of the Community
Canada
663 Posts
 Posted 05/20/2019  07:56 am  Show Profile   Bookmark this reply Add JGG to your friends list Get a Link to this Reply
If they want to generate some interest, throw 500 quarters struck on a silver planchet into circulation.
Pillar of the Community
Canada
2198 Posts
 Posted 05/20/2019  08:13 am  Show Profile   Check silverwolf's eBay Listings Bookmark this reply Add silverwolf to your friends list Get a Link to this Reply
i believe this year's 2 ounce masterclub 1959 coin, is still be flipped for a decent profit.

This is where the master club fails it's customers..Top tiered individuals were allowed to buy multiples of this coin, with the help of a rep, so it never made it to lower levels for the regular person to buy one,, it was supposed to be a limit of one, but I don't believe this happened, They original mintage in the series was 4,000 coins, they dropped the mintage to 2,500 so that means 1,500 people can no longer have a complete set..

This is one way to lose 1,500 customers right off the bat..
Pillar of the Community
Canada
2610 Posts
 Posted 05/20/2019  6:57 pm  Show Profile   Bookmark this reply Add MoneyPenney to your friends list Get a Link to this Reply
Master Club coins are not intended for the general public so the "regular" guy would not have access to the coin anyway. While you could flip the MC 1959 half dollar for a profit, sales are far and few in between so it is not a really a flippable coin in the class of the UFO coin which had dozens of sales in a week. There is no huge demand for it since, outside of MC membership, the general public is not even aware of the coin.

As for the coin filtering to lower tiers, it happened to me when the first renewed silver dollar came out. I missed it too.
That how it goes. As for higher spending people getting extra benefits, it does not bother me. Other loyalty programs out there base it on how much you spend too. The people who spend the most get the most rewards.

BTW, the mintage was lowered to 4000 because the last MC coin, the War Memorial, took months to sell out.
Pillar of the Community
Canada
663 Posts
 Posted 05/20/2019  8:19 pm  Show Profile   Bookmark this reply Add JGG to your friends list Get a Link to this Reply
For anyone who is under the delusion that they can make money on Canadian NCLT, I've got some ocean front property in Arizona that I can give you a good deal on.
Pillar of the Community
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United States
2302 Posts
 Posted 05/20/2019  9:44 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:
i believe this year's 2 ounce masterclub 1959 coin, is still be flipped for a decent profit.

This is where the master club fails it's customers..Top tiered individuals were allowed to buy multiples of this coin, with the help of a rep, so it never made it to lower levels for the regular person to buy one,, it was supposed to be a limit of one, but I don't believe this happened,


Precisely my point. But I don't care enough to make this a big deal since I'm not even qualifying anyway. So if the RCM finds enough privileged MC buyers to sustain their business model then more power to them / and the buyers I suppose.

A picture is worth a thousand words.
Pillar of the Community
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United States
2302 Posts
 Posted 05/20/2019  10:17 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:
Other loyalty programs out there base it on how much you spend too. The people who spend the most get the most rewards.


Well.... not really what I'm talking about. Having money that can buy you stuff and getting incremental rewards based on how much you spend is perfectly fine, as long as there is accessibility for everyone.

The idea of modulating access to information based on status is troubling for me (and not just for coins!). That's all.


A picture is worth a thousand words.
Edited by canadian_coins
05/20/2019 10:18 pm
Pillar of the Community
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United States
2302 Posts
 Posted 05/20/2019  10:57 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:
Like I said, there is no coin this year that fits that category.


I agree with you and I've stated in other threads that flippers (as we saw during the golden ages) are essentially gone.

Either way, the MC program needs a refresh I think. Not that I will benefit from it...
A picture is worth a thousand words.
Valued Member
Canada
299 Posts
 Posted 05/21/2019  04:55 am  Show Profile   Bookmark this reply Add Whitetail Junkie to your friends list Get a Link to this Reply
My biggest thing is quility control....pretty sad when I can go to the post office when there is a new release and look at 3 to 5 of the exact same coins and every one of the coins has some sort of slight defect on it and isn't 100% perfect....The ship definitely has to get tighter for me to spend again on there products.
New Member
Canada
16 Posts
 Posted 05/21/2019  10:45 am  Show Profile   Bookmark this reply Add Jam3z to your friends list Get a Link to this Reply

Quote:
My biggest thing is quility control....pretty sad when I can go to the post office when there is a new release and look at 3 to 5 of the exact same coins and every one of the coins has some sort of slight defect on it and isn't 100% perfect....The ship definitely has to get tighter for me to spend again on there products.



This exactly. Also when I pick up the entire (2017) animals in the moon light series for issue price then see it in the post office last month for 50% off. Needless to say I bought two more from the series for my nephews haha.

But in all seriousness what a anger. I will never buy straight from RCM unless it is very desirable to me and un-available from the post office. The post office in my town doesn't sell many coins and has many 2017 coins available for 50% off. This will be my approach moving forward with NCLT-bargain post office offerings unless un-obtainable.
Edited by Jam3z
05/21/2019 3:49 pm
Pillar of the Community
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United States
2302 Posts
 Posted 05/22/2019  10:24 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:
The post office in my town doesn't sell many coins and has many 2017 coins available for 50% off. This will be my approach moving forward with NCLT-bargain post office offerings unless un-obtainable.


I can't blame collectors for doing that when the upfront cost should be 50% off to begin with. The entire NCLT strategy needs to be revisited from the ground up.

Just curious, do post offices sell stamps anymore? I'm asking because I haven't been to a post office in quite a while now. I print my labels on the web, and drop off at the gas station.

A picture is worth a thousand words.
Edited by canadian_coins
05/22/2019 10:26 pm
Bedrock of the Community
Australia
15410 Posts
 Posted 05/22/2019  11:16 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
There is a risk that the RCM collector coin business may go the same way as
the Franklin Mint. That would be a pity.

There has to be some prospect for the buyer of new issue Mint product to perceive an increase in future value.
Otherwise, it will be another case of killing the goose that laid the golden egg.
Valued Member
Canada
130 Posts
 Posted 05/23/2019  02:32 am  Show Profile   Check Wandering Eskimo's eBay Listings Bookmark this reply Add Wandering Eskimo to your friends list Get a Link to this Reply

Quote:
There has to be some prospect for the buyer of new issue Mint product to perceive an increase in future value.
Otherwise, it will be another case of killing the goose that laid the golden egg.


Totally agree here. One word sums up my feeling with the RCM over the past year: Sad.

Depreciation of "current" NCLT issues = Sad

Somewhat desperate tone of e-mails from Masters Club Rep = Sad

Lack of interest in RCM issues on my part = Sad

Pop culture, non-relevant coin themes = Sad

Deep discount sales at Canada Post = Sad

Overpriced "special wrap" circulation coins = Sad

Discontinuation of the 5-pack film circulation packs = Sad

Overabundance of "special" non-relevant circulation coins (making them seem non-special) = Sad

The fact that I'm not supposed to order online, given that I'm a Master's Club Member (forced to order through rep) = Sad

Even the lack of activity here on the forums = Sad (remember the good 'ol days?)

My purchases are about 10% of what they were at the peak of collecting - if many people are in this same situation, the RCM has a major, major problem.

I honestly feel like I'm planning for the funeral for the golden egg goose (the killing has been done).
Edited by Wandering Eskimo
05/23/2019 02:34 am
New Member
Canada
16 Posts
 Posted 05/23/2019  12:00 pm  Show Profile   Bookmark this reply Add Jam3z to your friends list Get a Link to this Reply

Quote:
Just curious, do post offices sell stamps anymore? I'm asking because I haven't been to a post office in quite a while now. I print my labels on the web, and drop off at the gas station.


You bet just bought a 100 on a roll. Some post offices have less selection than others. Just the same for coins as well.
Pillar of the Community
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United States
2302 Posts
 Posted 05/23/2019  11:22 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:
The fact that I'm not supposed to order online, given that I'm a Master's Club Member (forced to order through rep) = Sad


Understand that reps salaries are based on a percentage of their sales. If you buy directly from the RCM then they do not get any recognition. The old grumpy IT guy gets the kudos.

The RCM could have implemented a simple drop down menu on the online order form, something like "Where did you learn about this coin?" and you'd pick "personal rep" so he/she could get a cut.

Well... that's not going to happen. It would increase the cost of goods even more.

Then, this begs the question: why do we have reps at all?

In fact, shouldn't it cost *less* via the web?
A picture is worth a thousand words.
Edited by canadian_coins
05/23/2019 11:25 pm
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