Krause's Numismaster... what do you think?
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November's World Coin News has a cover article on Krause's Numismaster online price guide. So I spent some time over there playing with the sample guide.
What's your take on it?
What's your take on it?
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Numismaster has some definite tweaks to be made- I think Krause realizes this, as every page has a "suggest changes" link. But when they price it more realistically, I'll be on board for the long haul. Particularly when they add the earlier centuries. Right now just the 19th and up are online.
As far as pricing is concerned - I would have structured it differently. Let's look at the income generated from selling paperbacks. Most amateur collectors will (at most) buy one of each century and most will not keep upgrading to newer editions, using older ones as references. Dealers that use Krause, on the other hand, will want to upgrade every time the new edition is out.... So, if Krause is to charge a one-time fee for initial purchase, and then charge those interested for "updates", when new editions become available - they will resemble their current income model very closely (minus cost to print and targeting much larger audience).
Also, in my opinion, in order to charge more than the paper version, then need to be able to replace every aspect of it. For example, ability to "carry it around" with you, which can be achieved with adding an "export" function to their site. I have manually created excel spreadsheets for each of Spanish Colonial mint from the information in Cabeto, Resplandores and Hooknecks, which I loaded onto my PDA and take it with me to shows for instant reference.
I hope they are also collecting data from current subscribers and market surveys. In a few years they should be able to gather enough to start creating cross-sell, up-sell, customer retention and attrition statistical models to help them along.
Just my 2 kopecks.
8 Reales Madness Collection
<< <i>, if Krause is to charge a one-time fee for initial purchase, and then charge those interested for "updates", when new editions become available - they will resemble their current income model very closely (minus cost to print and targeting much larger audience). >>
I think this is a good idea.
We can bounce all of these around when the Numismaster forums are launched. I saw they were going to do that.
I too have done spreadsheets in the past to manage collections and to "carry around with me".
I like Numismaster for Krause access from the office, since I cannot haul all my books to work with me and the terminals there do not have CD-ROM drives, even if I were to somehow get Krause on CD. (If there were such a beast available, however, I would buy it and load it on my laptop and carry that around, and likely forget about Numismaster.)
<< <i>November's World Coin News has a cover article on Krause's Numismaster online price guide. So I spent some time over there playing with the sample guide.
What's your take on it? >>
Here is my take on it. I have looked at the 20th century and the 21st century. I have subscribed on a monthly basis to both until the new books come out in June and July, respectively. It is quicker to look up a certain coin with Numismaster. I like it but.....here is what needs to be changed. Yearly subscription to the 21st Century is 59.95 - too high considering that the book version is 30.00. In fact, the prices of the yearly subscriptions should be the same as the book. But being used on the internet gives use of Numismaster a huge limitation. I still feel that FW/Krause need to have the world coin AND the world paper books on CD-ROM - works wonders when you're using a laptop computer (not to mention not having to carry a bunch of huge, bulky books.
<< <i>I still feel that FW/Krause need to have the world coin AND the world paper books on CD-ROM - works wonders when you're using a laptop computer (not to mention not having to carry a bunch of huge, bulky books. >>
Hear, hear!
Krause, are you listening?
The model I may use is to subscribe for one month once a year, since I have a very limited collecting range.
<< <i>Krause has known for years that collectors would like to have a CD-Rom version of the books. The problem is how do you keep people from pirating the book by buying one and then burning copies of it for all their friends? >>
There are many ways to stop pirating. Microsoft products are setup where you have a key but also you had to register online. Some of the high end computer software are set up where you can use it only on one computer and also has some form of copy protection. PC Cillin and Norton are good examples. As much as I like Numismaster, a CD version of the Standard Catalog of World Coins & World Currency, U.S Currency, Tokens, etc. would be far better than carrying a pile of bulky books. F&W/Krause, are you listening?.......
<< <i>The problem is how do you keep people from pirating the book by buying one and then burning copies of it for all their friends? >>
Krause can't continue to ignore the fact that their catalogs are already being pirated. I've came across 3 different versions of 1901-2000 in the last year, alone. From low-end "every page scanned as JPG" to high quality PDF digital documents with bookmarks and guides. It's already out there and Krause needs to take that into accounting when re-thinking their marketing strategy.
They can either release all of their catalogs on CD-ROMs, with online secure registration/activation, or they can follow Adobe and make NumisMaster free, but banner driven. Plus a number of other options.
BTW, if you don't know about the Adobe On-Line project - read about it here.
8 Reales Madness Collection
<< <i>
<< <i>The problem is how do you keep people from pirating the book by buying one and then burning copies of it for all their friends? >>
Krause can't continue to ignore the fact that their catalogs are already being pirated. I've came across 3 different versions of 1901-2000 in the last year, alone. From low-end "every page scanned as JPG" to high quality PDF digital documents with bookmarks and guides. It's already out there and Krause needs to take that into accounting when re-thinking their marketing strategy.
They can either release all of their catalogs on CD-ROMs, with online secure registration/activation, or they can follow Adobe and make NumisMaster free, but banner driven. Plus a number of other options.
BTW, if you don't know about the Adobe On-Line project - read about it here. >>
I like the CD-ROM option as I don't need to be online to access any information on coins and prices.
On the CD idea, no matter what protections they use, there are ways around them. Go to any torrent site, you'll find copies of any Microsoft or Adobe product you could want--and both these companies use upwards of 3-4 levels of protection against counterfeiting. A determined crook (or a bored teenager) will find a way to break any computer security system. --- Now whether fears of pirating validate their hesitancy is another question. Most companies suck it up and factor in the likely impact of copying in their revenue scheme.
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