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 Replies: 58 / Views: 10,500 |
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Pillar of the Community
Canada
1192 Posts |
I voted adverse. The sheer dollar volume of all these new releases sucks up a lot of money from other collectible money markets, from banknotes to non-modern coins to exonumia.
I just hope that when collectors get fed up and stop buying all of these new, unrelenting releases, that they don't exit the hobby completely.
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Pillar of the Community
Canada
3690 Posts |
http://www.canada.com/story_print.h...c2221a116e4fInteresting 7 year old article. Wonder how that coin dealer feels today. "Coin dealers flip as Mint hustles more collections OTTAWA - David Sirianni remembers when stocking the coins produced by the Royal Canadian Mint was an easy task. By CanWest News ServiceJuly 1, 2006 OTTAWA - David Sirianni remembers when stocking the coins produced by the Royal Canadian Mint was an easy task. Year after year, the Mint would rarely stray too far from its core product: a standard ``proof set,'' sold in a spartan black case, containing the circulation coins for a given year and a specially minted silver dollar. But these days, even Sirianni, who co-owns Universal Coins in Ottawa, is having trouble keeping track."
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Pillar of the Community
Canada
1751 Posts |
I agree with pokermandude, I have a hard timing afford the coins I want at issue prices, because they are coming too often and are over priced. It wouldn't be so bad if they were at $80 an Oz or less. The combo of more releases and higher prices really adds up. I try to get at release as not having to pay a higher price. I'm selling my 70 & 80 coins just to afford the new ones. I figure I can buy back the ones I sold at a later date, because their cheap. I also thought it would take a very long time to attain master club status, I was wrong!
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Pillar of the Community
 Canada
867 Posts |
Quote:http://www.canada.com/story_print.h...c2221a116e4fInteresting 7 year old article. Wonder how that coin dealer feels today. Thanks for posting the article CC-Ottawa! It's fascinating that even seven years ago collectors were already becoming annoyed with the proliferation of coins being produced by the mint. You're right to wonder what dealer, David Sirianni must be thinking now with over two hundred coins being offered in 2013 alone. I also wonder why some folks are buying into the argument that the mint gives, that more coins means more choice, so it must be a good thing for the hobby. I see it as a watering down of what used to be high standards of quality and exclusivity. Take the Martin Short coin as an example of milking the market with a coin of no importance or relevance to anybody except Martin Sort, his family and his friends. Despite this, the coin is offered cluttering up the mint's production, marketing and shipping departments. I'm sure the handful of folks who actually bought one felt that they were Short changed.  Edited by NuMoosematist
10/07/2013 5:40 pm
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Pillar of the Community
Canada
867 Posts |
Deleted: Wrong thread
Edited by NuMoosematist
10/10/2014 09:38 am
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Bedrock of the Community
Australia
21788 Posts |
I HAVE to agree with the majority vote that has been lodged so far. If the RCM wish to do NCLT, fine. Some like to collect 'mint product' (to give it an appropriate commercial term). The sheer volume of output and variation makes it impossible for those interested in NCLT to keep up. For those wish to keep up, EVERY NCLT design should have a version in wide scale circulation in base metals. Even an interested kid could then build a complete collection with coins taken from circulation, at a cost of face value. That would help bring new collectors into the hobby of coin collecting. |
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Pillar of the Community
Canada
2366 Posts |
 I have officially thrown up my hands and am just going to finish out 2014. I'll probably just get silver dollars and maybe continuations of sets that I've already started but I'm not starting any new sets/series/themes/etc as of 2015 dated coins.  Time to concentrate on completing & upgrading my circulation collection! |
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Bedrock of the Community
Australia
21788 Posts |
ARISE! REVOLT! REACT to the current policy of the RCM, The Royal Mint, the RAM, the U.S. Mint. Collect ancient coins! THAT will fix 'em! |
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Valued Member
Canada
246 Posts |
We all know the coins are overpriced, but everybody here on the forum continue to buy coins... So, is there any problem at all?
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Pillar of the Community
Canada
867 Posts |
Quote:
...but everybody here on the forum continue to buy coins... Oui, Mlalonde1977, mais... Folks like me are buying fewer and fewer NCLT coins and are spending much less. |
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Pillar of the Community
Canada
1751 Posts |
I like the idea of having matching circulation strikes, for people with modest incomes to collect. However, careful thought would need to go into which Nclt issue to choose to be circulation strikes, as way too many Nclt are minted. Would they choose only subscription type coins, historic coins, or coins in a series to also become circulation strikes?
Since it would be too expensive and I'm practical to issue all Nclt as business strikes.
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Pillar of the Community
Canada
1751 Posts |
Wow a thread from 2013 basically predicting the adverse effects of too many issues on the hobby. Many of the posters don't visit anymore and I really miss their contributions and insight!! Oh Numoosematist where are you, I hope you are well!! I find it interesting to go back and see how the posts and posters have changed. There were days when the topics were on fire!
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Pillar of the Community
Canada
798 Posts |
I will say this: MCM has been selling NGC graded PF70 Canadian issues for less than issue price in their blowout sales. MCM will have 10 NCLT graded PF70, and only 2 will sell for an entire month. Then they clear their inventory out at a huge discount.
Also notice that the 1oz Rick Hansen Man in Motion S$5 coins sold at auction with Colonial Acres for $10.87. That is about $5.00 below spot! I really don't know how the Mint is selling out, while the secondary dealers can't move any of their inventory.
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Pillar of the Community
Canada
5324 Posts |
Dealers are working on 15 to 30% depending on volume.
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Pillar of the Community
Canada
1751 Posts |
The mints have effectively killed the mclt hobby in three years with so much minting of coins!! I'm sticking to collecting the yearly silver set and silver dollars until things settle down. I may add the odd extra coin occasionally depending on themes. However no where the amount I bought the past two years. I was pumped in 2012. It's a shame how things have changed. Hopefully the hobby can reinvent itself like the US did after their over minting in the 1930s. This goes for all mints.
Edited by pocket change 50
11/15/2015 10:37 pm
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Replies: 58 / Views: 10,500 |
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Posted 10/07/2013 2:47 pm
