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Where's The Numismatic Love?

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Author Replies: 29 / Views: 619Next Topic
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Sap's Avatar
Australia
16924 Posts
 Posted Yesterday   01:12 am  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply

Quote:
The medals on their own would have done really well.


I would have bought them if I could get them without the gold coins.

This goes against one of the Mint's marketing paradigms, which is "medals don't sell, coins do." A logical corollary of this would therefore be "If you want to sell a medal, you need to pair it with a coin". Which is great in theory, except when the coin is gold, and thus so expensive that only a tiny minority of the potential customer base can afford it.

I'm sure they would have sold a lot more coin-and-medal sets if the "coin" had been a bronze replica of a Wheat penny. Or even, I don't know, an actual silver dime, perhaps?

Quote:
I'm sure that the mint has some convoluted reasoning for why they felt the need to rehash rare coins from our past...

The reasoning here is quite simple: the Mint is giving people what it thinks they want.

For years, people have been saying to the Mint, though coin forums such as this one, sentiments such as "we hate the dead presidents, give us back the classic Liberty coin designs". This, combined with some actual comparative sales data (such as the fact that the best-selling and highest-demand coins in the gold "President's Wives" series were the coins from unmarried presidents that featured classic Liberty heads instead of the coins depicting actual women) all combine to send a clear, coherent message to the Mint's marketing gurus: "US coin collectors want the Mint to make replicas of the classic coin designs".

So that's what they're doing. And they're going to keep doing it, until another message is sent or the magic stops working and people stop buying them.

This is always the problem when anybody tries to "give people what they say they want". Sometimes, "what they say they want" is not what they actually want. And sometimes, "what they want" is impossible so they try to substitute something similar, but "almost-what-they-want" doesn't quite cut it.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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jbuck's Avatar
United States
192210 Posts
 Posted Yesterday   11:32 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
"If you want to sell a medal, you need to pair it with a coin".
I have a few "silver coin and medal" sets that I adore. I would have been game to get a set with the current modern silver coin—because legally they could—paired with the medal. Ideally we would have had silver replicas of the classics, but Congress is in no hurry to do for them what they did for Morgan and Peace.
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psuman08's Avatar
United States
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 Posted Yesterday   12:04 pm  Show Profile   Bookmark this reply Add psuman08 to your friends list Get a Link to this Reply

Quote:
The reasoning here is quite simple: the Mint is giving people what it thinks they want.


These coins are supposed to be the result of a survey that the mint sent out to collectors. This collector filled out the survey, and I can assure you did not vote for the dime, quarter and half dollar that had been done 10 years ago already.
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jbuck's Avatar
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 Posted Yesterday   12:15 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
If I remember correctly, I suggested the Seated Liberty or Barber designs for the next tribute.
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howell1018's Avatar
United States
752 Posts
 Posted Today  4H 25M ago  Show Profile   Bookmark this reply Add howell1018 to your friends list Get a Link to this Reply
I will be logging on promptly at 12:00 (9:00 a.m. my time) to purchase the Walking Liberty coin, but I'm not feeling the urgency on this one.
In three weeks the release of the 1804 gold dollar will be a different story.
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barryg's Avatar
United States
5920 Posts
 Posted Today  3H 35M ago  Show Profile   Bookmark this reply Add barryg to your friends list Get a Link to this Reply
Well, after the fiasco trying to obtain a 2026 American Eagle One Ounce Silver Enhanced Uncirculated Coin, where I was stuck in the virtual waiting room until after they had all sold out, this time I managed to get into the waiting room 15 minutes early and, once the doors opened at 12:00 noon, I was able to go right in and make my purchase.

Best of luck, howell1018!
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United States
198 Posts
 Posted Today  3H 15M ago  Show Profile   Bookmark this reply Add pilotaggie to your friends list Get a Link to this Reply
I was watching it. Within about 5 minutes they sold about 5000 sets. The next one will be interesting.
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Brandmeister's Avatar
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6706 Posts
 Posted Today  2H 17M ago  Show Profile   Check Brandmeister's eBay Listings Bookmark this reply Add Brandmeister to your friends list Get a Link to this Reply

Quote:
This is always the problem when anybody tries to "give people what they say they want". Sometimes, "what they say they want" is not what they actually want. And sometimes, "what they want" is impossible so they try to substitute something similar, but "almost-what-they-want" doesn't quite cut it.

Requirements engineering in a nutshell.

What the Mint really needs is advisors from the actual collecting community, or people with enough collecting experience to ask collectors the questions in a proper method (and then interpret the answers). In the case of gold issues, I would not rule out the probability that the Mint is simply focusing on the highest revenue and profit items purchased by "whales". It's a pitfall of business requirements, because it makes (false) sense to executives to focus on the highest profit items and the biggest spenders. It is much, much harder to deduce what is wanted or needed by a large population of small buyers who give a chaotic response.
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howell1018's Avatar
United States
752 Posts
 Posted Today  1H 29M ago  Show Profile   Bookmark this reply Add howell1018 to your friends list Get a Link to this Reply
I logged onto the website at 11:55 (I'm using ET even though I'm in SoCal). Went to waiting room and was allowed in at 12. Made my purchase and logged off in 30 seconds. Now the wait begins.
I paid for the expedited delivery even though I'm not chomping at the bit because I figured after paying $2,800 for the coins what's another $10 or so?
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barryg's Avatar
United States
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jbuck's Avatar
United States
192210 Posts
 Posted Today  1H 17M ago  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Well, after the fiasco trying to obtain a 2026 American Eagle One Ounce Silver Enhanced Uncirculated Coin, where I was stuck in the virtual waiting room until after they had all sold out, this time I managed to get into the waiting room 15 minutes early and, once the doors opened at 12:00 noon, I was able to go right in and make my purchase.
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barryg's Avatar
United States
5920 Posts
 Posted Today  1H 17M ago  Show Profile   Bookmark this reply Add barryg to your friends list Get a Link to this Reply
The last time I paid for expedited shipping from the mint for a commemorative gold coin, I still had to wait weeks until the coin was actually ready to be shipped, and then the actual shipping was overnight. Seemed like a bit of a waste of money, to be honest.

This time, however, the set has already been shipped and I just got an alert from UPS saying it is scheduled to arrive tomorrow.
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barryg's Avatar
United States
5920 Posts
 Posted Today  1H 15M ago  Show Profile   Bookmark this reply Add barryg to your friends list Get a Link to this Reply
Oh, and for the record, it seems as though they are still available for sale as of 2:24 EDT.
Edited by barryg
Today 1H 15M ago
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