If you worked in Marketing for the Mint, how would you change the 2016 Centennial release?
kookoox10
Posts: 538 ✭✭✭
In retrospect, the release of the 2016 Gold Merc centennial was a huge success for the mint, but not a home run to the purist coin collectors like myself. For one, quality of the design was good, but it could have been more better. The gold component was a cool idea, but at over double the spot price of what 1/10 oz is., it was a profit driver at the expense of armchair collectors like myself. And worse off, the exclusivity of the release really hid how important the centennial is and keeps it "low key" to the everyday person who is not a collector. So now we ask this question: how could we have made this centennial release better?
Then a few follow up questions ensued:
How can we maintain profitability without limiting the exposure to new audiences?
Can we replicate a similar marketing gimmick to the once successful state quarter program?
And ultimately, how can we leverage this to help drive more traffic into our website and potentially grow business as a result?
Then a cool idea came to mind, mostly as ideas from a lot of the wonderful forum guys here. What if the mint produced clad coinage as a "one year" release for circulation? Take time off from the boring "Rosies" and really re-inject excitement into circulating coinage and reel in new prospective collectors in the process. Furthermore, the mint should produce like 250k of the dimes in 90% silver and release those into circulation. Kind of make it a fun treasure hunt and get the designs back into the spotlight one last time. Just like with the state quarter program, just produce a buzz into all of it. And continue the same process with the Standing Liberty and Walking Liberty designs. And then they can do the premium proof and special strikes and sell those through the web.
A couple things are achieved with this sort of idea, and it's not thinking about the "now" as it is mortgaging the future into getting a wider and deeper audience for not only the mint's benefit, but for the health of numismatics in all. What do you guys think? Any other marketing models come to mind?
Then a few follow up questions ensued:
How can we maintain profitability without limiting the exposure to new audiences?
Can we replicate a similar marketing gimmick to the once successful state quarter program?
And ultimately, how can we leverage this to help drive more traffic into our website and potentially grow business as a result?
Then a cool idea came to mind, mostly as ideas from a lot of the wonderful forum guys here. What if the mint produced clad coinage as a "one year" release for circulation? Take time off from the boring "Rosies" and really re-inject excitement into circulating coinage and reel in new prospective collectors in the process. Furthermore, the mint should produce like 250k of the dimes in 90% silver and release those into circulation. Kind of make it a fun treasure hunt and get the designs back into the spotlight one last time. Just like with the state quarter program, just produce a buzz into all of it. And continue the same process with the Standing Liberty and Walking Liberty designs. And then they can do the premium proof and special strikes and sell those through the web.
A couple things are achieved with this sort of idea, and it's not thinking about the "now" as it is mortgaging the future into getting a wider and deeper audience for not only the mint's benefit, but for the health of numismatics in all. What do you guys think? Any other marketing models come to mind?
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Comments
I think it would have been cool if all 3 were struck in crown "silver dollar" size in silver.
None of those coins would be much to look at in low/no relief.
I think it would have been cool if all 3 were struck in crown "silver dollar" size in silver.
I forgot to mention since you brought it up. I really think the mint needs some skilled engravers to go some designs by hand. I know everything is computer generated because that's the future. But you know where I'm heading with this. Quality and faithfulness of original design go hand in hand to making a 100 year centennial work.
I agree with you in that the mint could have done better for the centennial to get mainstream attention, which could in turn become future customers of their numismatic products. Circulating commemoratives, such as the quarters if 1932, 1976, and said State quarters, could definitely mix.up the tired coinage of today. If the coins were issued in quantities to meet collector and commercial demand, new interest in collecting could be seen
Realistically, this is just talk on an internet forum board. This is probably a matter that CCAC and the ANA should be pushing.
Oh how a gem BU circulating commemorative coin received in change could light a fire in a mind.
Strike the coins in the original 90% silver instead of gold, and price them accordingly.
Strike them in the original sizes.
All should be sharp strikes exhibiting full detail.
Brilliant finish like the originals, not the contemporary dull "burnished" look.
Strike them each at a different mint: Denver for the dime, Philly for the quarter (no mint mark), San Francisco (obverse mint mark) for the half.
Mint each coin to demand within a limited time frame, like the 1998 Kennedy set. No household limits.
Strike the coins in both uncirculated and proof.
Sell the coins both in sets and individually.
Too late for this year's set, but the Mint might want to consider some of these suggestions for the undoubtedly upcoming 2021 Peace dollar.
Since only flippers buy from the Mint, no one will ever know about it.
``https://ebay.us/m/KxolR5
90% silver.
Struck to demand.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
I knew it would happen.