| Author |
 Replies: 102 / Views: 13,258 |
|
|
|
Pillar of the Community
Canada
5324 Posts |
Explain to me how the RCM in the last few years, they return about 2 to 3% on their total sales, with most of their profits in the ETF, and bullion departments, yet they allow large dealers around 30% markups. The RCM seems to have too much overhead and give too much dealer discounts for their poor returns on a monopoly business model, there seems to be no real incentive for the RCM to sell directly. Edited by john100
09/22/2015 10:38 am
|
|
Pillar of the Community
Canada
3690 Posts |
As far as I know, the Mint does not publish divisional P&Ls or internal customer cost metrics so it's virtually impossible to say definitely whether or not it is 'cheaper' for them to sell directly or via distributors or even if the NCLT is profitable.
However, and this might be a big assumption, one would expect that the Mint incurs less than 30% of the retail price of a coin to deliver that coin directly to the customer.
That said, I agree the Mint has a ridiculous amount of overhead and waste that has been SOP for years and epitomize by former CEO David Dingwall.
|
|
Pillar of the Community
Canada
640 Posts |
Just received my free silver coin from RCMBe frankly, I am surprised with this big wooden case for small 1 oz Silver Coin. lol. p.s. comparison between ordinary clamshell case vs wooden case   |
|
Pillar of the Community
Canada
5324 Posts |
The facts regarding the profits came mostly from their ETF and bullion depts. came from articles in CCN for what it's worth.
|
|
Pillar of the Community
Canada
3690 Posts |
John do you happen to have a link to that? I'd be very interested in read it. I searched and the best I could find was this article from a year ago which says exactly the opposite. That is, they maintain that most of the Mint's profits are coming from NCLT while the other lines are essentially break even at best. Unfortunately, they do not cite a specific source or report actual profit figures by line so this reads more like an opinion piece than fact based journalism. http://canadiancoinnews.com/nclt-co...int-profits/ |
|
Pillar of the Community
Canada
6768 Posts |
Quote:
Be frankly, I am surprised with this big wooden case for small 1 oz Silver Coin. The cases looks like similar to cases for 1912-1914 BoC Premium HS gold coins. |
|
Pillar of the Community
Canada
5324 Posts |
My memory was when the CCN does a two page article on the RCM yearly report, but surely this article says otherwise but in the end they do return only about 2 to 3 % on gross sales which is tiny for a monopoly outfit. By the way the case is almost better than the coin in this offering. |
|
Valued Member
Canada
153 Posts |
@ justsilver...
Did you receive notification from the Mint that you were receiving this coin?
Or did it just show up......
|
|
Pillar of the Community
Canada
640 Posts |
I received e-mail from RCM on Sep 19 regarding coin shipped. Coin arrived yesterday ( Sep 21 ) by Xpresspost. |
|
Valued Member
Canada
153 Posts |
Looks like I'm just a Platinum Member and won't be receiving this item as a gift
Just found out you have to be a Platinum Plus member to get this item at no charge.
Don't recall anything in my package indicating there was a Platinum Plus level but please correct me if I am wrong. Thought there were 3 levels:
Silver
Gold
Platinum
|
|
Pillar of the Community
Canada
5324 Posts |
I believe there is 5 level of MC, but you really are missing nothing as my example above has proven, buy 5000.00 from a 5% discount dealer equals 250.00 who cares over a 99.00 coin and 50.00 box. The RCM just figure we are too dumb to do the math. Edited by john100
09/23/2015 11:56 am
|
|
Pillar of the Community
Canada
6768 Posts |
Quote:
but you really are missing nothing as my example above has proven, buy 5000.00 from a 5% discount dealer equals 250.00 who cares over a 99.00 coin and 50.00 box. You right, John. But for the people spending multiple thousands on coins, not the CAD 100 coin is important, but the status. |
|
Pillar of the Community
Canada
5324 Posts |
If I go to a say a Rolex dealer pay 10000.00 for their watch, then a lower end official dealer offers the same item for 60% less I rather have the discount item with the same status.
|
|
Pillar of the Community
Canada
5324 Posts |
Also, someone buys those kilo gold coins, the RCM must treat them like a black visa card. |
|
Pillar of the Community
Canada
693 Posts |
Quote:
By the way the case is almost better than the coin in this offering.  Me, I think it's a nice looking coin.  |
| |
Replies: 102 / Views: 13,258 |
First Page
Previous Page
Posted 09/22/2015 12:26 pm
