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WMF as a sales opportunity

Started by Pabitra, January 13, 2016, 01:15:46 PM

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Pabitra

Partly, the Dutch government too must share the blame.

Germany and sometimes France too, are able to time the release of their annual 2 Euro commemorative coins to coincide with WMF, Berlin.
It is surprising that many other countries fail to take advantage of this to sell substantial production in this fair to dealers who gather in WMF in large numbers.

Figleaf

WMF is a secondary show for them. The most important event of the year is the day of the coin, a national happening that has people waiting in front of the gates hours before they open.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Pabitra

I was talking more about marketing opportunities not availed.
Many mints in Europe are facing under utilisation of capacity due to poor demand for fresh coins.
Denmark and Sweden have already closed and Royal Dutch and Belgium facing uncertain future.

On the other hand, Germany has five mints, all doing well.
May be this should be discussed under a different thread.
Peter, kindly shift this to a new thread.

Pabitra

Where could I get figures for sale of German an French commems in WMF?

Also do the loss making units mint less than permitted commems?

If that is the case, then perhaps their lack of marketing skills are the reason for their loss.

Belgium, for instance, fails to mint both commem coins to the permitted numbers, citing no demand, as the reason.

Many other governments, fail to support their mints by failing to identify two commem topics every year.

Figleaf

Quote from: Pabitra on January 13, 2016, 05:49:06 PM
I was talking more about marketing opportunities not availed.

So was I. It is very important to realise that unsold coins are an inventory burden. Blindly minting the maximum allowed when demand for coins is falling is a recipe for financial disaster, not an opportunity. Circulation demand (much more important than collector demand) is falling year after year and I suspect strongly that collector demand is falling also as the hype of coin collecting after the change to euros is falling off. I regularly find EF coins dated 1999 and 2000 in circulation and the only reason i can think of is collections being liquidated.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Pabitra

Germany, it seems, replaces worn out coins by new coins.

To create more demand, especially after 1 and 2 cents going off the market, it is high time that 5 Euro coin is introduced.

Incidentally, world wide, the demand for coin appears to have gone up.

Bimat

Quote from: Figleaf on January 14, 2016, 07:33:50 AM
and I suspect strongly that collector demand is falling also as the hype of coin collecting after the change to euros is falling off. I regularly find EF coins dated 1999 and 2000 in circulation and the only reason i can think of is collections being liquidated.

Absolutely agree with this...not only collectors but also dealers have started to liquidate their stock of 'old' euro collector coins/sets over past one year or so...many of them regularly turn up on eBay and get sold for much lesser than few years ago. Most of the euro coins are now available for a decent price these days, Greek coins might be the only exception due to the 'Grexit' rumors.

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Pabitra

And imagine Estonia Paul Keres, entire mintage sold off in 6 days.

Australia mints many commemorative coins on demand. In other words, they keep on minting till there is a demand.

Bimat

One of the most important reason for the success of mints like Royal Mint / Royal Canadian Mint / Austrian Mint /US Mint is their aggressive social media strategy. They are very active on FB/Twitter which attracts lots of buyers from all over the world. I do not like the junk produced by Royal Canadian Mint, but they really manage their FB page very nicely! That helps them in gaining buyers from other parts of the world without much efforts. I know plenty of Indian collectors who regularly buy from RCM directly. In fact, not only mints but some big dealers in EU are also making good use of social media for promotion of their inventory.

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.