Inelastic pricing for United States Mint Products in CY2020 (so far) …

cagcrisp

Question: Why has the United States Mint been able to raise prices between 15%-18% in CY2020 for four items?

Answer: Price Inelasticity

2019 Birth Set Launch Week (4 days) = 2332 @ $19.50 = $45,474.00
2019 Happy Birthday Launch Week (4 days) = 2541 @ $19.50 = $49,549.50
2019 American Silver Eagle Proof W Launch Week (4 days) = 218990 @ $55.95 = $12,252,490.50
2019 Congratulations Set W Launch Week (4 days) = 17452 @ $56.95 = $993,891.40
Total revenue for four items @ 2019 Launch Week = $13,341,405.40

2020 Birth Set Launch Week (3 days) = 2594 @ $23.00 = $ 59,662.00
2020 Happy Birthday Launch Week (3 days) = 2755 @ $23.00 = $63,365.00
2020 American Silver Eagle Proof W Launch Week (4 days) = 216603 @ $64.50 = $13,970,893.50
2020 Congratulations Set W Launch Week (4 days) = 14633 @ $65.50 = $ 958,461.50
Total revenue for four items @ 2020 Launch Week = $15,052,382.00

Net revenue Increase 2020 vs. 2019 for Launch Week for four items = $1,710,976.60…

As long as customers continue to purchase items with a 15%-18% Increase…The United States Mint will continue to raise prices.
When you see United States Mints sales drop off More than the pricing Increases...you will see the Mint change their MO...

CollectorBonEZ

The innovation reverse proof dollars have increased as well.

cagcrisp

@CollectorBonEZ said:
The innovation reverse proof dollars have increased as well.

I didn't use the Innovation Dollars because the design is different. I just wanted to use as much as possible of an apples to apples comparison...

BillDugan1959

The United States Mint is the biggest coin dealer of them all, PLUS being part of the United States Treasury the employees are not reliant on the regular marketplace forces to receive their pay.

There are a number of products that I buy each year. I need the current year (by date) for gifts. I wish that prices didn't go up, but I still buy.

You gotta let go things you can't change.

ricko

Materials, labor, process, margins....all part of doing business.....Cheers, RickO