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 Replies: 87 / Views: 11,133 |
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Pillar of the Community
Canada
2845 Posts |
Quote:
I'm just curious to know who buys them from the mint only to sell them to coin shops with such a huge loss.
I've a couple of theories, pure speculation..... New buyers of NCLT become over exuberant in accumulating, believing it to be a road to instant riches, then some personal crisis occurs (job loss, relationship breakups, etc) and the cash is needed instantly. No other alternative. I'd be very surprised if RCM sells at full cost to their approved dealers. Dealer sales reduce RCM costs relating to individual ordering, processing, shipping, and human resources. And as MC members are granted a freebies and discounts, dealers could be considered RCM's best customers by volume. If a dealer receives a 20% discount, selling at 5% is still profitable. |
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Valued Member
Canada
354 Posts |
Time to find out what's going on with their emails. A couple weeks ago my inbox was full and I may have had emails from them bounced back. I cleared space and all seems well now. With that, I'm Platnium and am still listed at that level, but have yet to receive any email with July releases or any info about the MC changes. All I get is shipping notices. I wonder if they placed me on some stupid list because an email may have bounced back. Now I'm thinking that if I don't get the email with the redemption code, it'll be too bad, so sad. It appears to be in the new rules that if "Redemption code has no independent cash value and will not be replaced if lost or stolen". So if I don't get the email, they will not reissue me the code.
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Pillar of the Community
Canada
2984 Posts |
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I'm just curious to know who buys them from the mint only to sell them to coin shops with such a huge loss. The answer is no one. Very few people sell coins to coin shops these days. Before the days of the internet and ebay, taking coins to the coins shop was the only option to get rid of coins you don't want. Those days are long gone. Dealers will offer you maybe 50% for hot coins and 25% for less popular coins. If they take it at all that is, because coin shops are stuff full of unsold coins; they don't need more. You are better off selling them on ebay. |
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Pillar of the Community
Canada
1700 Posts |
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I've a couple of theories, pure speculation.....
New buyers of NCLT become over exuberant in accumulating, believing it to be a road to instant riches, then some personal crisis occurs (job loss, relationship breakups, etc) and the cash is needed instantly. No other alternative. I like this explanation. In 2014, I decided to try investing in NCLTs. I bought a few same maple canopy coins that I liked. Turned out it would have been a whole lot better if I just bought one of each in the series for myself. Even though I got them discounted from a dealer, there is still absolutely no way I can get rid of them without losing some money from handling, shipping, inflation, etc. |
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Pillar of the Community
Canada
3690 Posts |
Quote:I personally don't think the changes will increase temptation to buy to gain mc status. It's still better than it is was I suppose, since there is now 1%-1.5% back. But with that being said, I know of at least 1 dealer that offers 5% off all new RCM products.  I get better rebates from Canadian Tire. 1%? Who is motivated by that when the secondary market offers way more from the outset and 20-50% a couple of months later. These changes are a joke. The RCM should be offering 10-15% discounts but they don't because they have to support the dealer network who are more and more being stuck with unmoveable inventory. The bubble just keeps growing.  |
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Pillar of the Community
Canada
706 Posts |
They should offer like Spend $150, get a free Mint Gift set, every month.
It's essentially cheap circulation coins packaged in fancy packaging. This would definitely give the Mint an advantage as opposed to buying from dealers. :)
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Pillar of the Community
Canada
2019 Posts |
Got an email as well, interesting fine print... ** Eligible RCM Products means any products the RCM is offering for sale, with the exception of any and all regular circulation coin rolls, such as any roll of five cent coins, ten cent coins, and/or twenty-five cent coins as well as any roll of one dollar coins and/or two dollar coins; any "Face Value" coins (for example: coins sold as $20 for $20, $50 for $50, $100 for $100, etc.) or any commemorative circulation coin products.*** Masters Club Rewards are earned on all Eligible RCM Products. Redemption codes will be provided within 12 weeks of the end of the Program Year. Redemption codes can be applied towards any Eligible RCM Products offered for sale, subject to product availability. † Masters Club members have exclusive access to at least 90% of the mintage of select coins for the first 45 days after their release. Edited by Northerncoins
06/28/2016 03:49 am
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Pillar of the Community
Canada
1571 Posts |
I was at a coin shop in the GTA today. The dealer said the hobby is not looking good and seems to think the RCM is to blame. His complaint was that the slightly reduced price for buying in bulk isn't low enough because the drop in price in the secondary market is so quick, the coins are worth less before he can sell gym all. With so many bring released, it's impossible to keep up. Brick and mortar stores will fade away slowly. |
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Pillar of the Community
Canada
2845 Posts |
This is an answer posted on the New MC Program - FAQ. Just curious, were the previous Exclusive Access offerings limited to one per household or is a change as well? "The select coins are available for purchase by qualified Masters Club members during a 45-day period after the coin(s) is released. There is a purchase limit of one per household. If any coins remain unsold at the end of the 45-day period, they will be offered to SILVER Masters Club members for a 2-day period, then to all other Royal Canadian Mint customers." http://www.mint.ca/store/mint/custo....V3fJrZDOerUTo add: But reading that link, I'm not noticing where it indicates that a change has been made to remove XforX from counting toward a MC level: A couple of snippets: "All RCM products, even for items that are not coins made at mint.ca, through the Royal Canadian Mint Customer Service Centre or at a Royal Canadian Mint store are eligible to count towards your Masters Club membershIp.....Masters Club membership is extended to customers with purchases of $1,000 CAD (exclusive of taxes) on RCM products or more over the Program Year" It's somewhat confusing as it does mention that Eligible RCM Products do not include XforX or commemorative circulation coins, but later mentions "Eligible RCM Products" only in reference to the Rewards Program whereby Platinum members receive a coupon for a percentage of their (eligible) purchases. So does this mean that nothing has really changed in regard to XforX except that Platinum Rewards will not be rewarded for purchasing them? Edited by wildflowerAB
07/02/2016 10:45 am
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Pillar of the Community
710 Posts |
Quote:I was at a coin shop in the GTA today. The dealer said the hobby is not looking good and seems to think the RCM is to blame. Do you mean for NCLT or hobby in general? |
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Pillar of the Community
Canada
5324 Posts |
In general, when the NCLT are sold to mainly new collectors as cool perfect design coins and as yesterday on the Coin Show see the first maple canopy coin being blown out for 49.00 bucks along with endless other older coinsit has to hurt the main line collecting too.
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Valued Member
Canada
413 Posts |
LOL
"You are $1,000.00 away from becoming a Masters Club Member!"
I'm done with NCLT - will keep up the xx for xx and get the necessary sets to keep up the SD (Proof, Specimen) and the Loonie/Twoonie collection (Proof, Specimen & PL), unless something catches my eye.
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Valued Member
Canada
204 Posts |
I was suppose to be MC plat, but it updated to not showing any MC status, has this happened to anyone else?
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Pillar of the Community
 Canada
789 Posts |
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I was suppose to be MC plat, but it updated to not showing any MC status, has this happened to anyone else? Happening to me too, it says I am 1000$ away from being an MC member and I lost my access to the MC page as well. |
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New Member
Canada
31 Posts |
Same here. No longer MC... e-mail says I'm getting a case though. I was Platinum last year and this year or so I thought...
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Replies: 87 / Views: 11,133 |
First Page
Posted 06/27/2016 11:11 pm
