The Centenary of Rotary in Australia 2021 $1 Coloured Uncirculated Coin is a hit. Indeed, it is a sell out to the point that supply has fallen well short of demand, which is a good thing. It’s proving to be a terrific success. We managed limited supply by limiting how many each customer could purchase.
From The Royal Australian Mint, the coin has a mintage of 40,000 and is available in a limited mix of retailers.
What I like about this coin and other special interest coins from the Mint is that each launch introduces new collectors and they can be valuable customers to find.
The mint coin category can be worth $20,000 and more in a newsagency with capital investment in space and inventory modest. The key is social media engagement as that is how you find new shoppers.
I think this is an interesting category to build a niche customer base. What sort of margins are made on mint items and is there any special requirements to retail their products.
James, I can’t speak to that here as the Mint relationship I leverage is through newsXpress, the only marketing group the Mint deals with.
I’d note that coin customers are also valuable in terms of what else is in the basket.
There are also plenty of cross-promotion opportunities. For example, I know of releases coming for which I can purchase allied products from other suppliers, to further leverage the coin opportunity.