I buy most nintendo products and i rarely ever use the coins, the first time i used any of my coins in the last 2 years was for the golden controller so i still have 1400+ coins.
Take into account in the past 2 months i bought a Wii-U, DSI XL, 3DS XL and a butt load of games not to mention my family/friends don't use club nintendo so i get their points. It adds up. I never spend my coins on stupid towels or patches.
As for the "greed" comment above, believe it or not some of us have more than 10 games in our collection, it's easier to have all our games in these cases and it's why i am grabbing 4 of them, has nothing to do with greed i just need space in my house, i travel and it's easier to have these cases. I would rather people like me get them then people who get these strictly to sell on ebay.