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 Replies: 45 / Views: 6,273 |
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Pillar of the Community
Canada
1751 Posts |
Steve Bromberg's Coin Show is on Shopping channel today & new couple days. He's flogging Canada Specials, since he won't be doing his annual Canada Show.
Some of the prices are insanely discounted on slow coins: example baseball coins reg $114. Now $67.88/ Group of Seven coins $67.88, there a bunch of others too. Free shipping, if spending $150 - use SHIP 150. Taxes are removed just before completing check out., or just call in order. It worked for me in May. They are also allowing a 6 month payment plan.
Interesting, I caught him giving out wrong info, calling silver dollars 1971-1980 as proof, they are specimen. There was many artificially hiked values wrongly cited, especially for their Canada blockbuster.
I love seeing the coins on TV, they look so much better than the ones in my clamshells. It must be the lighting.
What does this mean, when a dealer like Bromberg discounts these coins by so much? Especially giving he has to pay for TV advertising on the shopping channel. I've also noticed he's been on 3-4 times this yr already.
When I made my first Coin Show purchase Canada Day 2012, silver coins weren't discounted. I paid $330 for the 3 coin set Continuity of the Crown, within the past week the set is selling for $100-$130 for the set. Steve highlights the appreciation aspect of coin collecting, as collectors we know this is less likely with Nclt. I still love my set, I even got a second one for $130 2 months ago. I love the high relief, and one type of coins I collect are Royalty Themed, when I can afford them.
I'd like to read others opinion on these deep discounts and where it will lead. Edited by pocket change 50
06/22/2014 8:57 pm
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Pillar of the Community
Canada
2019 Posts |
Ya seems to be the way things are heading , deep discounts on slow moving coins and is the main reason I have cut back of NCLT purchases this year.
I don't see this changing any time soon either , there is just too much supply and not enough demand.
People buy coins for different reasons , some buy because they just like the coin , some buy because they like the coin but also hope for it too increase in value over time, some buy just to flip for profit so they can support their coin collecting habit, some buy to flip for a living.
The only ones who are going to be happy about the glut of coins are the ones who buy just because they like the coin, but I suspect there are more people who like the coin but also don't want to see their "investment drop %20 or more a year after buying said coins.
There are better ways to lose money in my opinion , er well maybe lol, coins are shinny and all that stuff...
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Pillar of the Community
Canada
5324 Posts |
The large RCM dealers get around 30% discounts, that's why the RCM makes very little profit of about 1.5% while the dealers make 15 to 30 dollars on a average coin. |
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Valued Member
Canada
411 Posts |
Didn't realize it was on ...watching it now.
The half price coin collection " Celebrate Canada" seems like a lot of leftovers they can't sell. Not sure it's worth $200 ?
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Pillar of the Community
 Canada
5394 Posts |
Can you say "kaboom boys and girls ?, sure ya can" The RCM has become the Stamp of the week program!! This will all come tumbling down very quickly. Too few grannies for far too many coins! What a joke! |
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Pillar of the Community
Canada
726 Posts |
.  .with Pacific,.Each Year seems more and more (By theme or pic on coin)Silver out by mint.,.These deep discounts is why I stopped buying those 20 for 20. But they still sell for say 21.oo and I will say huge sales numbers and mintages..I will say a few years ago when mint produced more Ag coins they at least dropped the mintages of most as well (Some are 7500 in number- Steve B told us about Asian inspired silver that has mintage of 8888.).I say that with the low mintage coins they may keep value and only go up in many years to come.,Other coins will be discounted. I like watching Steve B. he normally watches his P's and Q's, I myself would proably make more errors than him, This day I never caught any errors. In past I did catch a slight inacuracy here and there.,.At first I thought the Showstopper was fantastic deal- I did my own analysis and say now - Still a good deal..For most who don't know where to buy or how to get a great deal(Or have great patience), for them the SStopper is great price.,.  Edited by persistnt
06/22/2014 10:40 pm
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Pillar of the Community
Canada
726 Posts |
More of Just my Opinion.,.To get some Silver series coins would be smart for someone-Say a baseball lover- to buy Fielder (I like this one best), Picter, hitter,.You would hav whole set at great price..because free ship also would help,.There was 2 Holgraphic Dragonfly coins might have been good.,.That one Maple leaf Silver was discounted heavy-so I say great deal.,.There is 2 similar 50c X10 sets that may be good to purchase because I was thinking of selling 5X myself after I get then home to recoup some of my purchase price (All 10 coins are the same 50c piece and rare (If I can use that word).,.The Ag coins from 2010 seem to be good discount at 47.67,,Other weekends Steve is on TV. I always find the Blockbusters a good price.,.One Coin Crazy Mans opinion...Stay well.and don't get ripped off by anyone.
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Pillar of the Community
Canada
2019 Posts |
Quote:
.To get some Silver series coins would be smart for someone-Say a baseball lover- to buy Fielder (I like this one best), Picter, hitter,.You would hav whole set at great price. I bought the baseball 4 silver coin set when it went on sale last year at CCC for $77 each at the time which I thought was a good deal, now shopping channel has them for $68 each....release price was like $118 each... I feel bad for anyone who paid full release price, 4 coins for $472 ... now the 4 coins are going for $272....ugh. |
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Pillar of the Community
Canada
1528 Posts |
I don't think there are that many folks pay full price for those baseball coins.
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Pillar of the Community
Canada
6768 Posts |
This probably relates not only to the RCM coins.... Currently, people pay premium for the 2014 HOF coins (US Mint), but the mintages so huge, so we may see them in the future sell for nothing (+ non pure silver) |
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Pillar of the Community
Canada
2019 Posts |
Quote:This probably relates not only to the RCM coins.... Currently, people pay premium for the 2014 HOF coins (US Mint), but the mintages so huge, so we may see them in the future sell for nothing (+ non pure silver) Ya , well atleast the 99.99 silver and gold coins will never be below spot value... thats the scary thing about this flood of coins is that you might see some selling for bullion prices some day... |
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Valued Member
Canada
204 Posts |
a little off topic but did anyone here use the promo about spend $300 and get $100 in savings card or something? if so what was the purchase?
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Valued Member
Canada
411 Posts |
Yeah I received a $100 gift certificate and a 20% off and used it on a couple more coins...can't remember which ones right now. Didn't cost me much though !
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Pillar of the Community
 Canada
1751 Posts |
Thanks everyone I'm thoroughly enjoying the great discussion! I just wonder where the future of Canadian Nclt coins is going, when we see recent coins, within the past year getting discounted by several dealers? The RCM made two positive changes since 2008. In 2008, they greatly reduced the Mintage size down from 100,000 or to demand on most coins. Next they moved from making coins in sterling silver to 99.99 fine silver, thus removing the taxability of the coin. These 2 moves proved great insight and benefit in the hobby. People actually saved money, not having to pay tax, and now there was an element of rareness, and possibility of appreciation were introduced. However the RCM took a step backwards, in their pricing policy, when silver fell to around $20.00. Now the coins seem grossly overpriced. They then followed up with another backward move, releasing over 200 coins yearly, starting in 2013. So it seems we are no further ahead, then when they were minting coins to demand. As collectors, the coins from huge mintages and not 99.99 silver, and today's glut of coins both have huge barriers to increase in value or maintain it, although the reasons why are different! This is leading me to believe there have been major changes to the marketing team, who brought in the 2 positive changes. These are some of the things I've have observed in my 2 short years of collecting Nclt coins. I'd appreciate to hear other comments on my observations!! Edited by pocket change 50
06/23/2014 3:31 pm
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Pillar of the Community
Canada
5324 Posts |
In the last two mint reports you will see that the RCM makes most of it's small profit from bullion and etf sales, the NCLT coins profit goes mainly to the largest dealers and that's why they can offer 20% discounts or more on dog coins, they should readjust dealers discounts and lower overall coin pricing. Do you need 6 or 7 swimming, chewing, smiling, and next a dancing beaver commissioned coins ? |
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Pillar of the Community
Canada
2019 Posts |
Quote:However the RCM took a step backwards, in their pricing policy, when silver fell to around $20.00. Now the coins seem grossly overpriced. Ya thats one reason for sure, they got greedy and didn't drop prices as the spot price dropped, that and along with too many coins will be their downfall. I think the only way they "might" get out of this hole is if they drop prices more inline with spot and lower mintage's and the amount of coins they are producing , but that could mean the coins that are out there now will drop in value...oh wait..they already have lol. Anyways , I have been buying more bullion this year then NCLTs, I have not lost interest in NCLTs but I don't collect NCLTs just to collect , I need them to keep their value or atleast not lose much over time and hopefully increase in value but as of late there are more dropping then holding,so I guess I will keep watching and see but not buying much atm. |
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Replies: 45 / Views: 6,273 |
Posted 06/22/2014 9:15 pm
