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Help With RCM Mastersclub

 
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Author Previous TopicReplies: 5 / Views: 537Next Topic  
New Member

Canada
2 Posts
 Posted 03/25/2023  10:23 am Show Profile   Bookmark this topic Add khash08 to your friends list Get a Link to this Message
Hi all,

New to coin collecting.
I wanted to start collecting/investing some gold/silver coins from the Mint.
I see that the most desirable ones (e.g. the super incluse coins) are never availalble.

So I figured I might join the MastersClub to get a head start.

My question is: Does your status reset every year? And if it does, at what date (on Jan 1st automatically)?

Also, on my account it says I need to start spending 250$ to earn any points. Does that mean that if my first purchase is let's say 1000$, will it just get me to bronze level and earn me 0 points or will I get points for the extra 750$ spent above bronze level?

Last, are you guys actually successful in buying those more limited coins by being a member of MastersClub, or is it acutally useless to be part of this club?

Thanks for any help and advice.
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United States
9141 Posts
 Posted 03/25/2023  12:02 pm  Show Profile   Bookmark this reply Add commems to your friends list Get a Link to this Reply

Quote:
I wanted to start collecting/investing some gold/silver coins from the Mint.

Be careful! The issue prices of many Mint releases are often quite high and are frequently not supported by the secondary market. As such, many of the Mint's coins can be purchased later for below their issue price. Few of them are good investments.


Quote:
My question is: Does your status reset every year? And if it does, at what date (on Jan 1st automatically)?

The Masters Club program is an annual program with a reset in January of each year. The Mint has several pages of information about the MC Program that may answer your questions,

Check it out here: Masters Club


Quote:
Last, are you guys actually successful in buying those more limited coins by being a member of MastersClub, or is it acutally useless to be part of this club?

Others will have to chime in here - I've never viewed modern Mint releases as an investment opportunity regardless of my MC Program status.





Collecting history one coin or medal at a time! (c) commems. All rights reserved.
New Member
Canada
2 Posts
 Posted 03/25/2023  12:20 pm  Show Profile   Bookmark this reply Add khash08 to your friends list Get a Link to this Reply
Thanks for the answer.
I am aware that most coins are not worth it as investment.

I am mainly interested in a couple of things
1) The 5 kg silver coin-- if the annual design is nice (the last 2 years were not impressive to me with the penny anniversary and the bluenose).
2) The annual super incuse gold coins.

Being very limited, I can't purchase it on the mint site. I always see a 30-50% markup on secondary market.

That's why I was wondering if being part of MasterClub could give me a chance to buy one at the Mint price on their site.
Edited by khash08
03/25/2023 12:23 pm
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Canada
658 Posts
 Posted 03/27/2023  5:06 pm  Show Profile   Bookmark this reply Add vonigohcr to your friends list Get a Link to this Reply

Quote:
That's why I was wondering if being part of MasterClub could give me a chance to buy one at the Mint price on their site.


Depends. I am at Diamond level which means I get 7 days advance notice of new releases. I also get a personal Rep and in most cases, I could get the 5kg Silver or the proof incuse coins (the 5kg Golds Mintage 10 or so all seem to sell out before announcement). The question becomes whether you will want to... As has been hinted above, RCM Proof coins should be considered collectible and not investment class instruments.

When you are paying 5-6x bullion price for Silver and up to 2x bullion price for gold, you are relying on the mint to release outstanding designs and low mintages to allow you to retain value in your purchase. Trust me.. there is nothing more demoralizing than seeing a coin you spent $500 for sell for $100 at auction 2 years later.... You gotta love the coin to take that kind of haircut in stride.

When you hit the upper tiers of the MC, you will be able to work with your rep and get the 5kg Silver and 5kg gold coins and will be able to retain your membership level quite easily if that is the level you are purchasing...

Welcome aboard
Valued Member
United States
184 Posts
 Posted 03/27/2023  5:26 pm  Show Profile   Bookmark this reply Add smuglr to your friends list Get a Link to this Reply
@khash08 I have been a MC member for many years. I am now down to silver status as, because of customer service issues, I have greatly cut back purchasing from the RCM and purchase the coins I want from other sources. If you get a good rep it has it's advantages, but otherwise unless you are at the highest levels the advance notice doesn't assure you will be able to get every coin you may want to order. I could however, as an example, from a source other than the RCM, order the gold super incuse maple leaf today at the same price as from the RCM and have a much better customer service experience.
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