What would your advice be to the U.S. Mint?

mmissinglink

mmissinglink

Active Member
The US Mint apparently is trying to figure out how to create more demand from the public. In this insane age where Pokemon Go is way more important to many people than virtually anything else including the safety of others, what advice would you give them?


Mint to look at future in October

The shrinking number of coin collectors has reached a point where the U.S. Mint wants to do something about it. It is considering hosting a meeting Oct. 13 in Philadelphia of a cross section of numismatic participants to address its concerns."We want to grow the hobby," said Tom
Jurkowsky, director of the Mint Office of Corporate Communications."We see the hobby in decline."

That translates into declining coin sales and profits the Mint can contribute to the U.S. Treasury."We want to see how we can go," Jurkowsky said, "by getting together people who clearly have an interest in coins to look at the past, present and future, where we've been, where we are and where we're going."Next year is the Mint's 225th anniversary. The Mint is proud of it and it wants to continue to build on its legacy. "Coins are the metallic footprint of our nation's history," he said.


http://media2.fwpublications.com.s3...utm_content=869421_NNE160810&utm_medium=email



RELATED ARTICLE: https://www.coinworld.com/news/us-c...t&utm_campaign=cw_editorial_rare&utm_content=



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Why would anybody give the US mint any advice
They most probably want take it anyway
I'd want $20M + for a 12 month gig to get it rolling
 
spannermonkey said:
Why would anybody give the US mint any advice
They most probably want take it anyway
I'd want $20M + for a 12 month gig to get it rolling
Click to expand...


I guess you didn't read or understand the text.




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mmissinglink said:
spannermonkey said:
Why would anybody give the US mint any advice
They most probably want take it anyway
I'd want $20M + for a 12 month gig to get it rolling
Click to expand...


I guess you didn't read or understand the text.




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Click to expand...
:lol: No I didn't
Until now :rolleyes:
 
SpacePete said:
Offer coins with Happy Meals.
Click to expand...


Bingo!



That's precisely the out-of-the-box thinking the US Mint so desperately lacks. The lack of creative thinking by the US Mint, coin collecting societies to some extent, and large numismatic coin dealers is resulting in what clearly appears to be slowed down interest in collector coins.

When I was growing up, lots of families had coin collections. Today I think that far fewer families do because of a number of factors but one major factor is that there's little creative thinking by the sole producer of coins in the US....the US Mint.




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mmissinglink said:
SpacePete said:
Offer coins with Happy Meals.
Click to expand...

Bingo!

That's precisely the out-of-the-box thinking the US Mint so desperately lacks. The lack of creative thinking by the US Mint, coin collecting societies to some extent, and large numismatic coin dealers is resulting in what clearly appears to be slowed down interest in collector coins.

When I was growing up, lots of families had coin collections. Today I think that far fewer families do because of a number of factors but one major factor is that there's little creative thinking by the sole producer of coins in the US....the US Mint.
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Click to expand...

They need to sponsor celebrities... Get some AGE's on some celebs and 'show off' their collection or 'savings' and it will get in style. They have make coins cool again. Happy meals would be good for the next gen, but the current generation is about minimalism. It would be good to show they could minimize their space and still save $

Like this guy:

[youtube]http://www.youtube.com/watch?v=LlFCyZ90bfU[/youtube]
 
I think standard circulating coins were that "metallic footprint of the nation".
I one could declare their an ASE as such (it's pure - more prone to tarnishing/damage than 90%), then they can't complain much, their annual sales are the last 3-4 years like 5 times the peak sales of earlier.
Numismatics are a niche market, and the much higher pm prices brought alot competition.
I think there is a general runout of new ideas.
Take for ex that http://www.usmint.gov/competition/b...epage&utm_medium=hero&utm_campaign=bca+commem
A design competition with such a subject. Come on lol.
Maybe it's like in quite some topics today, everything has been done / made over once, twice, ...
Maybe they should focus on new technologies, like that micro minting, maybe 3D printing, maybe 3D sculpturing.
That would add a D, bringing a new dimension to existing things.
 
Golden said:
Maybe they should make enough silver/gold eagles when people want them, no more rationing.
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Ha ha ha ha ha ha! :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:

Do you really understand why rationing of ASE's happens?

Besides, there's often surplus of ASE's at the US Mint. Right now, the US Mint is deluged with a surplus of millions of ASE's.




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mmissinglink said:
Ha ha ha ha ha ha! :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:

Do you really understand why rationing of ASE's happens?

Besides, there's often surplus of ASE's at the US Mint. Right now, the US Mint is deluged with a surplus of millions of ASE's.
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Probably because they are a classic inefficient government company?

They should have sold them while they were in demand.

Also sell them through their web shop instead of just dealing them to few select companies.
 
Golden said:
mmissinglink said:
Ha ha ha ha ha ha! :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:

Do you really understand why rationing of ASE's happens?

Besides, there's often surplus of ASE's at the US Mint. Right now, the US Mint is deluged with a surplus of millions of ASE's.
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Click to expand...
Probably because they are a classic inefficient government company?

They should have sold them while they were in demand.

Also sell them through their web shop instead of just dealing them to few select companies.
Click to expand...



Inefficiency is par for the course in large agencies but even that doesn't account for the occasional rationing. It's the lack of availability of blanks....or at least that's the official story. But it sounds reasonable to me.


As for sales through their web shop, I doubt that makes financial sense for the mint....way too much overhead costs to deal with individual retail orders on bullion ASE's. At least that's what makes sense to me and I'm sure they would have implemented that if it were cost effective. As it is now, they get X percentage returns on their numismatic products....imagine how many returns they'd be processing for bullion ASE's....wow!




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Lack of blanks does not sound convincing, not in these times. Every other mint seems to manage.

If every other seller can make profit on ASEs, I don't see why mint could not. They make them, they would get them first and cheapest.

Returns, what returns? You can't return bullion. You can only sell it back and that is always good news for sellers of silver.
 
Golden said:
Lack of blanks does not sound convincing, not in these times. Every other mint seems to manage.

If every other seller can make profit on ASEs, I don't see why mint could not. They make them, they would get them first and cheapest.

Returns, what returns? You can't return bullion. You can only sell it back and that is always good news for sellers of silver.
Click to expand...



What may not sound convincing to you may in fact be the raw truth.

1) Allegedly, the US Mint sources its ASE blanks externally and so they don't have control over the production of the blanks.

2) There's no other original seller of ASE's except the US Mint so I have no idea why you are even bringing up "every other seller".....what does that have to do with the price of tea in China?

3) Returns are always accepted by the US Mint. It's no different for any product they sell retail. It would be no different if they sold bullion ASE's retail. And this is likely the reason they don't....too much cost to make it worth selling retail as opposed to selling to a small number of very large distributors. What other possible sensible and realistic reason would they have for not selling bullion ASE's retail if not because it isn't cost effective for them to do so?????




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