The Mint's New Marketing Plan

CC2GO

A surprise comment to NN made by the Mint's associate marketing director....

New "entry level" products are in the works designed to
capture the interest of collectors of State Quarters.
Paragraphs 5 & 6



The Mint's New Marketing Plan

Zoins

I can't read the article but what's the surprising part?

rgl1345

site no workie

Barndog

link worked for me

here' part of it

However, in the discussion, I was offered the news that new Mint products were in the works. Hamer called them entry level products that will be designed to appeal to collectors of state quarters. This is interesting.

This tells me two things. The first is that the Mint’s marketers probably noticed that their customers seem to be the same root group as the rest of us deal with. The second thing that it tells me is that as a marketer, Hamer and his colleagues are probably salivating at all those zeroes in the number 140,000,000.

The Mint does not have limitless resources. It might even be argued that firms like Heritage outmarket them year in and year out. However, what the Mint has is national stature and a national outlook. One thing that I can always count on as an editor is the fact that virtually all of my readers take an interest in the doings of the Mint whether they actually buy new issues or not.

These new entry level products will get my readers’ attention. That, of course, is less the point, than whether they also get the attention of all of those casual state quarter collectors. If history is any guide, the Mint will end up finding that the buyers of these new products essentially will be the same old group.

However, it will be interesting to see a proper test conducted. At long last, I will have objective proof that either the characteristics of the numismatic market that I have observed professionally for almost three decades are changeable with the right marketing pitch, or that they are not. It will be great for me either way. My readers, especially my readers who are numismatic professionals, want to know. Certainly the leaders of the firm that owns Numismatic News would like this information as well.

In 30 years, the readership of Numismatic News has cycled up and down with the health of the overall hobby. However, readers tend to come out of the same pool over time. Some drop out because of family or other personal reasons. Some drop out as their level of interest rises and falls. By the same token, dropouts often drop back in as time, finances and interest allow.

Can the U.S. Mint break this pattern? It would be great if it could. Numismatic News could have the circulation of Time Magazine if this were so. That will make my professional colleagues salivate as much as the staff at the Mint. Good luck, U.S. Mint. I want you to succeed.

basestealer

Hmmm... entry level coins produced by the mint that can be bought at or near face value. Hey, I got it! CHANGE at the supermarket!

Kip

Wonder if anyone told the mint that their sales could increase if they would stop turning out crap that "spots", is overpriced and crap that the artwork looks like a 3 year olds? Guess not
Kip

Zoins

<< <i>Wonder if anyone told the mint that their sales could increase if they would stop turning out crap that "spots", is overpriced and crap that the artwork looks like a 3 year olds? Guess not >>

The spotting problem should be fixed to increase customer satisfaction but I'm not sure it would result in increased sales. Sales of ASEs are pretty high already.

When you say US Mint products are overpriced, who are you comparing to? The British Royal Mint sells 1 ounce proof silver bullion rounds for $93. The proof ASE seems quite reasonable compared to that. Other sovereign mints such as the New Zealand Mint and private mints such as the Alaska Mint are much more expensive than the US Mint.

I agree with the artwork. No box with feet for me this year.

Bear

The new plan is called S-I-T-N-A-S-T-A.

(Suck in the newbies..and skin them alive.)

Kip

<< <i>

<< <i>Wonder if anyone told the mint that their sales could increase if they would stop turning out crap that "spots", is overpriced and crap that the artwork looks like a 3 year olds? Guess not >>

The spotting problem should be fixed to increase customer satisfaction but I'm not sure it would result in increased sales. Sales of ASEs are pretty high already.

When you say US Mint products are overpriced, who are you comparing to? The British Royal Mint sells 1 ounce proof silver bullion rounds for $93. The proof ASE seems quite reasonable compared to that. Other sovereign mints such as the New Zealand Mint and private mints such as the Alaska Mint are much more expensive than the US Mint.

I agree with the artwork. No box with feet for me this year. >>



Sorry, I meant overpriced for the type and quality. The British mint stuff IS worth the price. The US mint stuff isnt. All you have to see is the engraving....their artist cant draw anything but flies
When all the people who bought ASE see that are starting to spotting...the word will get out and the sales will drop even more.
Kip

Zoins

<< <i>Sorry, I meant overpriced for the type and quality. The British mint stuff IS worth the price. The US mint stuff isnt. All you have to see is the engraving....their artist cant draw anything but flies >>

I respectfully disagree. The reverses on the Britannias are nice but they are an exception and I'm not a fan of the Fourth Portrait which takes up one side on every coin. Many other reverses are pretty bad IMO and a lot of low mintage issues sell for less than issue price years later. Just look at the Act of Union commem, it's just a couple of crests cut up with puzzle piece borders and it doesn't even say Act of Union on it anywhere, just the denomination and commem years. As bad as the box with feet is, I think it's better than the RM puzzle coin. While US designs are bad, I can't say much more for many RM designs. US Mint coins also have a much better track record for appreciation than RM products.

CC2GO

<< <i>....what's the surprising part? >>



New entry level products to come out aimed at state quarters collectors.
Also, keep in mind, this is a TEST! By our beloved U.S. Mint!

Bear

Zoins is on target. The track record

for price appreciation, is best at the

good old US MINT. With the caveat, that

one must be veerrryyyyy selective to seperate

the oysters containing the pearl from those that do not.


Now, if it is alright with everybody, the bear will take a

shower, comb my fur and in general, spruce up.

Kip

<< <i>Zoins is on target. The track record

for price appreciation, is best at the

good old US MINT. With the caveat, that

one must be veerrryyyyy selective to seperate

the oysters containing the pearl from those that do not.


Now, if it is alright with everybody, the bear will take a

shower, comb my fur and in general, spruce up. >>



Have a jelly donut for me

19Lyds

<< <i>When all the people who bought ASE see that are starting to spotting...the word will get out and the sales will drop even more. Kip >>



I doubt this.

SAE's have been spotting for years and it has not affected sales. The numismatist will selectively buy the bullion for grading and return any proofs that have flaws. The bullion buyer doesn't really care since he/she is in it for the bullion value alone and not necessarily for the numismatic aspects.

thecointrader

While the increased knowledge gained from the Mint's new marketing will be beneficial to some, it seems to me that increasing the number and type of offerings will only continue to saturate the market. Example: Privy marked State Quarters (or Presidential Dollars) at a two times face value per coin might be cheap and attractive to novice collectors, but they also would increase the number of coins needed for a complete collection, thus increasing the cost to collectors as a whole.

I can only imagine the type and number of offerings that the Mint's marketers could come up with: Two-coin-sets matching a Presidential Dollar with the State Quarter from his place of birth, and on and on. Proof/Uncirculated/Satin/Burished/P-D-S.

Increasing supply doesn't necessarily lead to an increase in demand.

dpoole

We appear to all have the same sentiments.

I can't promise you whether the sun will rise in the east or the west tomorrow morning, but I CAN promise you that the Mint will eventually over-do a good thing until it becomes a bad thing.

BigTom

Thecointrader is exactly right. The bigger (and real) risk is oversatuating the market with special issues and other junk.

Schmitz7

How about some reverse proof state quarters?

Bochiman

<< <i>

<< <i>

<< <i>Wonder if anyone told the mint that their sales could increase if they would stop turning out crap that "spots", is overpriced and crap that the artwork looks like a 3 year olds? Guess not >>

The spotting problem should be fixed to increase customer satisfaction but I'm not sure it would result in increased sales. Sales of ASEs are pretty high already.

When you say US Mint products are overpriced, who are you comparing to? The British Royal Mint sells 1 ounce proof silver bullion rounds for $93. The proof ASE seems quite reasonable compared to that. Other sovereign mints such as the New Zealand Mint and private mints such as the Alaska Mint are much more expensive than the US Mint.

I agree with the artwork. No box with feet for me this year. >>



Sorry, I meant overpriced for the type and quality. The British mint stuff IS worth the price. The US mint stuff isnt. All you have to see is the engraving....their artist cant draw anything but flies
When all the people who bought ASE see that are starting to spotting...the word will get out and the sales will drop even more.
Kip >>




You sound bitter

pitboss

Reverse them babies!!!!!!!!!