How do we know it does anything? We don't.
The fact is, all Bungo needed to accomplish with 3oC was adding to Xur's inventory, and giving our Shards a use... both of these missions were accomplished.
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The clue was in the weekly update that I tried to warn everyone about (post mysteriously not findable anymore..suprise!) In the post I stated this:- "Surely reducing the drop rate of exotics significantly and then applying a 3oC will at best just put you back at square one and at worse, given the order in which the reduction and buff are applied will matter to a computer, you'll end up with something bordering on a negative chance! Let me elaborate and bare with me I hope you'll see why I don't trust Bungie to actually be doing us any favours here:- Original drop chance for exotics 20% - we'll call this ODT (Original Drop Chance) Modifier for drop chance after patch 15% - we'll call this DCM (drop chance modifier) 3 of Coins drop modifier say 10% boost - we'll simply call this 3oC Now depending on the order in which I apply these. Things can go very very wrong and, given Bungie, likely will. Say I do this ODT - DCM + 3oC chance. We would likely get something like this 20 - 15 + 10 = 15%, which is down from the original 20% but, better than the adjusted 5% we are now seeing. That's fine and should see an increase in the exotic drops over the 4 hours compared to no coin. However! If the 3oC chance of a drop simply overwrites the ODC then we end up with this scenario 3oC - DCM = -5%" I then go on waffling but, you get the gist.