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Liberty Walking Half's Blog

03 Sep 2019

Increase the Interest

Collecting Tips | Liberty Walking Half

(yes, the cover-photo is just to grab your attention)


Among the various issues dealt with by numismatists and the mint, two are rather intertwined. The mint has the everlasting desire to increase sales, and numismatists have the unending task of increasing hobbyists. Both of these issues are of importance to their owners. They also, at least in the indirect sense, are of importance to the other. The mint would have less or more sales based on the quantity of numismatists. More mint sales means the mint stays in business, meaning more product for numismatists to collect, and more product to attract non-collectors. Clearly, both the mint and numismatists have intertwined interests, and therefore an intertwined desire to increase the interest. What are some ways they could accomplish this? Let’s explore some possibilities.


Minting a special-edition, three-coin set of the two-cent, three-cent, and twenty-cent pieces would be beneficial to both the mint and numismatists. An availability of a mint set with three discontinued denominations would certainly be an attractive attention-getter for non-collectors. The Mint would doubtlessly have no problems selling numerous of these sets, increasing sales. Great for headlines and for selling, this special-edition three-coin set serves both the mint and numismatists.


Having an annual design contest could help both the mint and numismatists. The contest would be intended for ametuer designers and numismatists. The winning design would be employed for a medal/token that would be minted in a set quantity. After the victorious designer received a set amount of examples, the rest would be sold either as a separate product, or with as an add-on/package item with another mint product. Appealing to the artistic side of coin-collecting, this would help numismatists, while its marketing possibilities would help the mint. Both numismatists and the mint would benefit from a annual design contest.


Depicting major numismatists/numismatic events on commemoratives would assist both the mint and numismatists. Featuring important numismatists, such as Eric P. Newman or Louis Eliasberg, and important numismatic events, such as a point in the adventure of the 1933 double eagle or shipwreck coin discoveries, this is an appealing idea. The mint would make great sales as it would be aimed towards one of its biggest customers, numismatists. Another way to further put forward aspects of numismatics, it would be helpful for numismatists. Great for both, the mint and numismatists would be assisted well by commemoratives featuring important numismatists/numismatic events.


A guaranteed attention-getting method for benefitting numismatics and the mint would be to introduce into regular circulation, for a time at least, a new denomination. Maybe a multi-dollar coin? While it does sound as if it were a crazy idea, it would probably work. Numismatists would gain larger quantities of new collectors with a new denomination. The mint would certainly receive a lot of attention by creating a new denomination. Granted, of course, it would likely be shot down by the government for expenses and complications. Government aside, a new denomination would work terrifically for both numismatists and the mint.


There are multiple ways that both numismatists and the mint’s intertwined interests could be satisfied in the same way. Whether a special-edition set, a partial precious metal coin, or creating a new denomination, the options are seemingly endless. With both intertwinement in missions and each other in general, satisfying each is not a complex task. Increasing the interest in both simultaneously would have dual benefits, and in turn strengthen each.




Comments

JudeA

Level 4

Good ideas all, i think it would be great if they did that!

user_60297

Level 3

totally

Longstrider

Level 6

You have some great ideas here. I like them. I think Mokie described it well. Good plan.. Thanks.

Mokie

Level 6

With the 250th anniversary of our great Nation just a few years away, I think the Mint should, starting in 2020, use your idea of the three coin set and mint an obsolete coin for collectors each year, the Road to Liberty Set starting with a dual dated Chain Cent and going all the way to a Bust Dollar with a spectacular reverse proof set of all 6 coins debuting in 2026. Circulation copies of all the coins, in their current size could also be released in lieu of the normal coin for a particular year. For instance, the 2021 Half Dime design would be placed on a normal nickel sized planchet and circulated exclusively in 2021, same with each year thereafter. Of course, the collector versions would be true to their original size. Thanks for your out-of-box thinking LWH, always a fun exercise.

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