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 Replies: 8 / Views: 2,751 |
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Valued Member
Canada
55 Posts |
Does anyone know if the Mint will ever do the 5 for $5 packages they used to do (give 5 commemorative loonies for $5). I don't know when they stopped doing this but it seems like a great opportunity for collectors and a small cost for the Mint if the buyer pays shipping.
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Rest in Peace
Canada
1360 Posts |
A few bad apples spoiled the bushel. When the mint offered coins at face value, they were taken advantage of by people using credit cards to purchase Lots of sets, only to return them, but keep the points and/or any other privilege's that entailed. One guy is said to have "been around the world" on the points he accumulated.
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CCF Master Historian of USA Commemoratives
 United States
12255 Posts |
Quote:
I don't know when they stopped doing this... I believe the last circulation pack of loonies was issued in 2017 - the $1 coin in the pack commemorates the 100th Anniversary of the Toronto Maple Leafs. At this point, it doesn't appear likely that the packs will be revived by the RCM, but you never know! Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Pillar of the Community
710 Posts |
 This was an excellent program and great way to generate interest with new collectors. It makes sense in 2021 for all kinds of reasons. |
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Pillar of the Community
 Canada
665 Posts |
I think that simply limiting sales for non-registered dealers to 5-10 units max would address the credit card loyalty point scam... Or... a "no return" as if you don't like the item; cut it open and use as cash (only for Canadians though)... There are ways of addressing the initial flaws in the program. It is a shame as it was a means I used to get folks interested in coin collecting... Where I can easily spend $5-$10 on a nice example of unc specialized circulating coins to share with family & friends... I am not about to spend 2x face on a roll of unc whose only specialization is the paper wrapper it comes in... Nor does that engage potential new entrants to the hobby. |
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Rest in Peace
Canada
1360 Posts |
I agree that a simple maximum number of purchase should have been enough, but they tried that on the first $20/for/$20 coin (I think the number was 5). However using a different email address would circumvent the restriction (I know, as I took advantage of getting a few more). Later in the program, I was contacted by a mint rep, indicating that the ceiling was off, and I could order as many as I wanted, in a single order. Keeping in mind, the same thing was going on at The Royal Mint in the UK. As the saying goes, people will try anything to get ahead in the game. |
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Pillar of the Community
Canada
1505 Posts |
I think they lost a boat load on these. Selling for FV, does not recoup postage, packaging, marketing and/or labour. I would buy a pack at 1.5-2x FV, this fills the collectors objective at a reasonable proce and cuts out those churning cc points. The rolls are too many coins to buy at 2x. ebay becomes the better option |
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Valued Member
Canada
54 Posts |
I am happy to work the angle of credit card points but never did it on RCM products. Seems pretty easy to limit the purchase quantities per address which solves the credit card angle. However, the RCM can't make much extra money selling coins at face value a few at a time. So much more work then shipping boxes of circulation coin out the door for the same return per coin. |
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CCF Master Historian of USA Commemoratives
United States
12255 Posts |
Quote:However, the RCM can't make much extra money selling coins at face value a few at a time. The release of these face-value packs was not driven by profit potential - it was an attempt by the RCM to draw in new collectors at a low-cost threshold in the hope that they would remain collectors and "graduate" to more profitable collector coin offerings at some point in the future. Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Replies: 8 / Views: 2,751 |
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Posted 03/23/2021 5:20 pm
