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Personally feel that RCM has sunk the NCLT hobby  
 

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Valued Member
Canada
170 Posts
 Posted 05/17/2017  06:50 am  Show Profile   Bookmark this reply Add rjlavoie to your friends list Get a Link to this Reply
I understand that the  RCM is now offering tasteful home extensions so that collectors have room for all their new issues for the next couple of years or so...


Don't rush out, even though it may look like they're almost sold out, there are lots of them on the market. This is one of those home renovations that won't add value, but will actually decrease the value of your house over time. It may look nice, but it will keep falling off your house as the fit isn't just right and it's made of cardboard.
Pillar of the Community
Canada
1089 Posts
 Posted 05/17/2017  2:12 pm  Show Profile   Bookmark this reply Add Dcadon to your friends list Get a Link to this Reply
NumisRob said:
Quote:
I understand that the RCM is now offering tasteful home extensions so that collectors have room for all their new issues for the next couple of years or so...


Sir, I do think you have underestimated the size of the extension required for all the NCLT.
Valued Member
Canada
322 Posts
 Posted 05/17/2017  3:14 pm  Show Profile   Bookmark this reply Add JGG to your friends list Get a Link to this Reply
Don't forget there are many brick plated versions: specimen, proof, reverse proof, matte, ultra-high relief and rustic. If you guys wait a year though, the homeowner will sell for half price.
Valued Member
Canada
322 Posts
 Posted 05/19/2017  06:36 am  Show Profile   Bookmark this reply Add JGG to your friends list Get a Link to this Reply
This thread has been viewed almost 10,000 times and the issues brought up here clearly resonate with the RCM's customer base. The Mint needs to listen to what is being said here!!
Pillar of the Community
Canada
1129 Posts
 Posted 05/19/2017  12:57 pm  Show Profile   Check TheCoinHunter's eBay Listings Bookmark this reply Add TheCoinHunter to your friends list Get a Link to this Reply
Undoubtedly the mint makes far too many coins. If you look at NCLT coins no differently than any other devaluating item you may buy for pleasure, home or personal use, you'll be fine. You want to speculate and possibly make money, stick to old coins.
Pillar of the Community
Canada
5963 Posts
 Posted 05/19/2017  1:46 pm  Show Profile   Bookmark this reply Add Silveroid to your friends list Get a Link to this Reply

Quote:
Undoubtedly the mint makes far too many coins. If you look at NCLT coins no differently than any other devaluating item you may buy for pleasure, home or personal use, you'll be fine


That's truth.
Take a look at South African silver Proof coin (thanks for other forum, paying attention). The mint issues (or even some Germany Mint) their first Silver Bullion coin with Proof finish, and the sold prices on eBay in average CAD 500...just for 1oz silver coin.
And RCM minting huge amount different designs, but their value on the secondary market - luckily if 50% of issue...
Valued Member
Canada
163 Posts
 Posted 05/21/2017  12:02 pm  Show Profile   Bookmark this reply Add the_sifu to your friends list Get a Link to this Reply
Just a note, I do purchase NCLT only if it attracts my interest.

CBC news article,

Silver Superman coins prove to be kryptonite to Royal Canadian Mint's bottom line

http://www.cbc.ca/news/politics/roy...cs-1.4119986
Valued Member
Canada
322 Posts
 Posted 05/21/2017  12:27 pm  Show Profile   Bookmark this reply Add JGG to your friends list Get a Link to this Reply
I read that article today too. Aside from the $20 for $20 debacle, I got the impression from the article that the Mint is too focused on gimmicky items and they are out of touch with customers.
Edited by JGG
05/21/2017 12:28 pm
Valued Member
Canada
163 Posts
 Posted 05/21/2017  2:08 pm  Show Profile   Bookmark this reply Add the_sifu to your friends list Get a Link to this Reply
How I read the article's meaning.

The RCM motives for attempting to attract new customers to the hobby was honourable, but the negative financial effect on the business side was a faux pas.
Pillar of the Community
Canada
2172 Posts
 Posted 05/21/2017  2:44 pm  Show Profile   Bookmark this reply Add MoneyPenney to your friends list Get a Link to this Reply
The most pertinent comment of them all came from the president of the Royal Canadian Numismatic Association:


Quote:
Nienhuis also said that the coins are unlikely to appreciate in collector value because so many have been minted.

"It'll take a long time before these have really any significant collector value," he said. "You're going to be hard-pressed to recover your investment."


That comment applies to ALL NCLT products, not only the $20 for $20 coins.
Valued Member
Canada
322 Posts
 Posted 05/21/2017  11:22 pm  Show Profile   Bookmark this reply Add JGG to your friends list Get a Link to this Reply
Yessir MoneyPenney, thank you for that. That angers me a little bit ... they are always touting the words 'rare, low mintage, invest, appreciate, etc' during the sale, while they fully realize they are none of these things. That is a penny stock pump style, and the RCM needs to really bring some honesty and integrity back into management.

Valued Member
Canada
411 Posts
 Posted 05/22/2017  2:03 pm  Show Profile   Bookmark this reply Add Alex A to your friends list Get a Link to this Reply
Effectively the floor price for these coins is $20 (ie Face Value). So people are simply acting rationally to exchange/return each coin for $20 cash. Nothing wrong with that. It would be much, much cheaper for the RCM to declare these as circulation coins and handle as such through the existing coin circulation process that is in place.

Food for thought...
Pillar of the Community
Learn More...
United States
3543 Posts
 Posted 05/23/2017  01:31 am  Show Profile   Bookmark this reply Add commems to your friends list Get a Link to this Reply
The Royal Canadian Mint Act does not give the RCM the authority to declare any of the $X-for-$X coins as true circulation coins. Such authority rests with the Governor in Council.

It's also interesting to note that the Act does not authorize a circulation coin with a denomination greater than $2.00.

Collecting history, one commemorative coin (or medal) at a time!
Original content (c) Commems, 2012-2017
Valued Member
Canada
411 Posts
 Posted 05/23/2017  08:39 am  Show Profile   Bookmark this reply Add Alex A to your friends list Get a Link to this Reply
Thanks for the clarification.
Valued Member
Canada
405 Posts
 Posted 06/17/2017  3:20 pm  Show Profile   Bookmark this reply Add sherwooddavid to your friends list Get a Link to this Reply
I pretty well sold off my whole coin collection in the past year but decided to keep the Murano glass coins, the complete set of XX for xx face value coins and the gold Star Trek coin for now.
I still have the 2011 Fabulous 15 that I'm trying to unload with no success.

I completely lost interest in the hobby.

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