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 Replies: 9 / Views: 2,150 |
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New Member
Canada
2 Posts |
Hi all, just a quick question. When the RCM offers "Last Chance" sales, what happens to the coins that never got sold? For example, if the mintage is 10,000 but they only sell 8000 after the last chance is over and done with, what do you think they do with the other 2000 coins. Do they turn it back into a melt or were they never minted in the first place? Thanks all for your reply. |
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Bedrock of the Community
Australia
21788 Posts |
The RAM (Australia) remelts on some issues, but the have just held some issues over until all sold. I guess that depends on the circumstances of the promotion.
The RAM has also conducted subscription issues. They propose an issue and take paid subscriptions at a nominated price up to a termination date, then strike the number equal to the number of paid subs. I guess that is one way of measuring probable market demand on similar issues.
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Pillar of the Community
Canada
1733 Posts |
They typically remelt the precious metal coins that don't sell after keeping an example or two for the currency museum or future reference of their own. I don't know about base metal coins, they likely destroy those in some fashion and have them recycled for steel. The minor plating on them doesn't make any difference to a steel smelter.
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Pillar of the Community
 Canada
9865 Posts |
I don't think they melt them.I think they offload them to dealers at reduced prices.
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Pillar of the Community
Canada
1733 Posts |
They try that too I'm sure, I know the auditor generals report mentions accounting practices referencing refining existing coin inventory, so they do re smelt. I don't think dealers want to carry things no one could sell for too long either. There aren't that many large Canadian dealers.
Basically, we're seeing smaller runs of crapware. They'd rather make different things in smaller quantities and sell them all than take the correct financial charges on their books for having to melt things back down.
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Valued Member
Canada
442 Posts |
Its a shame that they remelt. so do they adjust the mintage numbers if they do remelt some of the coins?
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Rest in Peace
United States
9104 Posts |
Final mintages most likely are adjusteed for melt. That's where there are such odd number mintages on the old US commems, anyway.
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New Member
 Canada
2 Posts |
Thanks all, appreciate all your input. Great information.
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Valued Member
Canada
311 Posts |
First of all, welcome to the Forum, there are many experienced collectors that can help and answer your questions or give you direction where you can get the answers.  |
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New Member
Canada
1 Posts |
Great question Hoarder, I was wondering what happens to those. Does anyone know for sure or is this one of those topics that there will be lots of speculation and maybe this or maybe that. All and all, this is a good question. I noticed that some of the coins are on the last chance list but some master club members aren't being notifies that it is a "last chance". Therefore, the quantity's aren't at a low supply, just not a popular coin and therefore the posted mintage QTY will be, what, corrected and reduced once the RCM is forced to remove them from there site? If anyone knows for sure, please post. |
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Replies: 9 / Views: 2,150 |
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Posted 03/31/2011 09:25 am
