I've noticed several posts from folks suggesting the number of collectors of the
RCM's NCLT coins has recently increased. I don't know if it has or if it hasn't, but it reminded of a post I wrote last year but forgot to post here on CCF. I wrote it in early 2012, shortly after the 2011
RCM Annual Report became available. Here it is...
RCM Output Comparison: 1971-2011When the most recent
RCM Annual Report was published a few months back, I took a look at the mintage statistics at the back and was once again struck by the sheer volume of different products the
RCM releases now. So, being a "numbers" sort of guy, I decided to do a quick little comparison of "collector" coins issued in 2011 vs. 1971 (the start of the bulk of the
RCM's NCLT output).
In 2011, the
RCM reported sales on 113 different collector products. In 1971, the
RCM released 5 collector products.
In 2011, the
RCM reported total units sold at 1,537,133. If you remove the two $20 for $20 coins, the number of units falls to 1,095,133. In 1971, the
RCM had net sales of 1,119,816 units.
In 2011, the average number of units per product offering (not including the $20 for $20 coins) was 9,866. In 1971, the average was 223,963.
Where am I heading with all of this? I just find it interesting that though the
RCM spends so much time and expense to come up with new product concepts and new minting technologies, all of the effort hasn't really expanded the number of units purchased.
Today's
RCM product-line is much more interesting than it was 40 years ago â€" then it was basically a couple of dollar coins (nickel and silver) and a few varieties of annual coin sets. I'm sure the
RCM's efforts to appeal to a broader base of customers through expanded product offerings has been largely successful and has created a customer base much more diverse than it was 40 years ago.
I just don't know if the
RCM has created a larger, more sustainable collector base. The large variety of coins released makes it near impossible for a collector to collect "one of each" (unless that collector has VERY deep pockets). So, collectors bounce around among the coins offered and purchase coins that grab their attention â€" one time purchasing a 50-cent coin that piques his/her interest, the next time a silver $20 coin with an attractive design, and the next time a gold 1/25th ounce coin.
Do the nearly identical "Units Sold" sales figures of 1971 vs. 2011 suggest anything about the number of collectors during each time period? Hard to say. It's important to remember, however, that the
RCM didn't set "hard" mintage limits back in 1971 â€" they struck to demand. To reach the sales volume they achieved in 1971 it would seem that a large number of collectors was engaged in purchasing the Mint's limited offerings.
It might seem like there are more collectors today, but I wonder if it's more that the
RCM's larger variety of coins has engaged (and excited!) a more diverse mix of collectors but not a larger pool of them.
Just me playing with the numbers...
Thoughts?
Posted 04/01/2013 10:38 pm
