| Author |
 Replies: 24 / Views: 3,264 |
|
Pillar of the Community
United States
1213 Posts |
I just saw an article on Numismaster that says the the mint lost 25% of it's buyers last year. Here's the link: http://www.numismaster.com/ta/numis...icleId=17346Gee, I wonder if it was caused by their increasing prices, or their poor customer service, or lack of decent designs on the coins, or any number of other things? I know these aren't all problems that are caused by the mint. However, they seem to be doing more things wrong than right lately. They do have a nice new front end on their web site, but the bulk of it is still really old technology and not designed well. They don't make me want to order much from them. |
|
|
|
Bedrock of the Community
United States
19935 Posts |
|
|
Valued Member
United States
314 Posts |
They can make the website as fancy as they want, but I think it's only going to get worse in 2011. They have made some very unjustified increases in the prices this year as well. Many of them large increases.
|
|
Valued Member
United States
408 Posts |
Doesn't it just make sense that the government would take a profitable
program and turn it into a loser. Headed in that direction.
|
|
Pillar of the Community
United States
3278 Posts |
They were selling plenty of sets before the internet was invented, I doubt it's the web site.
Probably a downturned economy and less profitable items being sold by the mint.
|
|
Pillar of the Community
Canada
3692 Posts |
I have a feeling it has something to do with all of the faces on coins of real people. It's been happenening here in Canada, too, ever since the 2005 Terry Fox dollar. Coins these days just have way too much going on, the fields are super-busy, and then there are human faces that try to look real but they just look hokey. And I'm sure we've run out of wildlife animals to show so Canada's doing endangered species now with that new silver dollar 2011.
I suspect these two sister mints have the same type of clientel so the differences can't be that far off from one another. I always think of Canada as a market project for the US of A, like a microcosm.
|
|
Pillar of the Community
United States
6326 Posts |
I'd say there are a whole myriad of "reasons". A main one would have to be :Record Unemployment levels....no job...no Mint purchases. Bad economy....just stirs worst case scenarios and fear mongering...people are less likely to spend money on "a hobby". And with the continuous high pricing from the Mint....they're just gonna lose a lot of "fringe" folks in the hobby and/or those financially challenged who may have purchased within a budget otherwise. For the most part, those who can afford it, just continue on. For the "addicts", they continue on regardless of the prices, WHEN THEY PROBABLY SHOULDN'T ! ......   Edited by eaglefoot
01/22/2011 10:51 am
|
|
Valued Member
United States
287 Posts |
Yeah,
The prices are getting to be pretty high these days. Too many products being offered is one thing....look at all those first spouse gold that have super low mintages but must have been expensive to create....
I've been wondering if I should pick up one of the really low demand ones for future profit due to rarity...any thoughts on that?
Edited by jimineez
01/22/2011 10:59 am
|
|
Pillar of the Community
United States
4085 Posts |
Good points above about the economy. Also: - end of the State Quarters program - Territories and ATB does not seem to be generating the same interest - in part because you can't find 'em in circulation - 2009 featured the Lincoln designs - lots of buzz around those but it was one year only |
|
Bedrock of the Community
United States
17884 Posts |
Don't forget the constantly expanding product line and the fact that they offer the same coins in several different sets. You can get a set of the proof presidents, but if you buy a proof set and a silver proof set to get the other coins you wind up with THREE sets of the proof presidents.
|
|
Valued Member
United States
397 Posts |
For me, Condor hit the nail on the head. They're offering far too many products. Collectors used to be satisfied with just a proof set, or maybe an uncirc set and a proof set. Now they've got satin finish, uncirc, circulating, bags, rolls, proof, silver proof. I keep expecting colorized coins to come out next.
|
|
Pillar of the Community
United States
4541 Posts |
i have quit buying proof sets b.c they cost so much. then a year down the road if you need to sell they are worth 10 bucks. other than that they just dont offer anything some people want anymore IMO
|
|
Pillar of the Community
Canada
3692 Posts |
Too many choices, that's another thing. Imagine how much they spend on dies for a coin they produce for a single year.
|
|
Pillar of the Community
United States
2408 Posts |
A sense of déjà vu. Two weeks ago, our forum admins had to create a dedicated Canadian NCLT (Non-Circulating Legal Tender) forum for RCM ( Royal Canadian Mint) commemorative and collector coins. This was a good move. http://www.coincommunity.com/forum/...FORUM_ID=144Because, over the past couple of years, the discussions became intolerable to participants and readers alike. Such strong animosity... vitriolic comments made by a few individuals that knew nothing nor cared about that segment in the first place. A sad situation. I hope the US side does not get to this point. Because after all, the passion to collect is strong within us all and there is no one group entitled more than another. There are interesting things to learn about NCLT, just like anything else in life. The quality of NCLT can be phenomenal and the designs inspiring. Healthy debates are to be had of course. As to the pertinence of the coins, quality and mintage are important factors but ultimately, let us revert to the free market to settle on the outcome, if purely based on profitability. But collecting isn't all about profit. As I have always said in the Canadian forum, NCLT collectors do not take anything away from non-NCLT collectors. We can co-exist and it's all good for our hobby. Edited by canadian_coins
01/22/2011 6:48 pm
|
|
Pillar of the Community
United States
1231 Posts |
I've been waiting for Krause to make a new catalog/book on NCLT's. I'm sure there are enough coins out there to fill it.
The US mint just doesn't grasp what collectors want. It's all about their profit
|
|
Pillar of the Community
United States
2408 Posts |
Hi jinx!
Of course it's all about (some) profit and there is nothing wrong with that. Is there? Otherwise we'll have to bail them out too!
It think the Mint MUST grasp what collectors want, or else they can't be profitable.
|
| |
Replies: 24 / Views: 3,264 |
Posted 01/21/2011 11:39 pm
