U.S. Mint Changes To More Innovative Approach

The U.S. Mint appears to be on a roll.

So far during 2000, the Mint has launched its new manganese-nickel composition, golden color Sacagawea dollar coin and the Massachusetts quarter dollar into circulation successfully. The Mint has also produced and released coins ranging from one cent to 50 cents into circulation, but since these are produced annually, these coins don’t get the press coverage awarded to the new issues.

The Mint has been busy addressing collectors with new coin issues as well. The usual Mint and Proof sets are in the works, but so are some other more novel offerings. In January the Mint began offering Sacagawea dollar coins by the roll or in Mint sewn bags.

The Massachusetts quarters were also offered in Mint sewn bags.

Considering that the Massachusetts quarter is the first of five such quarters in the Statehood series to be issued during 2000 and the sixth so far since the series began in 1999, it is safe to anticipate we will see more Mint sewn bags offered as each new quarter is released.

The Mint isn’t ready to rest on its laurels yet. Special First Day Covers (Philatelic Numismatic Covers) are also being released shortly--covers including some of these novel new coins.

Many people don’t realize it, but the Mint also produces a long run of medals available to the public.

The Mint is entering the mainstream by offering collectors what may begin to look like an almost never-ending supply of new coin issues. The Mint does direct mail, has an Internet site and produces a gift catalog.

The Mint will undoubtedly also sell non-circulating, legal tender precious metal commemorative coins to anyone that wants them, once Congress deigns to allow the Mint to produce them.

There is a difference in marketing philosophies between the activities of the U.S. Mint and how business is conducted in other countries. Our government can be blamed for much of this.

The Royal Canadian Mint, as an example, has already released the collector sets of all 12 of its 2000 Millennium 25-cent coins, although the circulating versions are still being released at a rate of one per month. The RCM philosophy is that collectors will now have a 12-month opportunity to purchase the sets, rather than one month if the collector sets weren’t released until December once all 12 were unveiled for circulation purposes.

The U.S. Mint is handicapped regarding such ideas. Congress controls what coins can and will be produced, not the Mint. Since the individual states are involved in the decision regarding the reverse design for each of the Statehood quarters, the Mint doesn’t even have the designs for many of them yet. Even if the U.S. Mint and RCM agreed on this marketing philosophy, the U.S. Mint can’t make what it either hasn’t been authorized yet to strike or for the designs that don’t yet exist.

Since the U.S. Mint sells coins into the largest domestic coin collecting market in the world, the U.S. Mint may have a playing field advantage. However, most other world Mints have the luxury of making their own decisions on what coin products to produce, what they depict and how to sell them. Most world Mints simply present the idea to the local government for approval. They don’t have a Congress treating them as merely a factory and that tells them what to do. Isn’t democracy wonderful!

Considering what the U.S. Mint must go through, the recent innovation at the Mint should be applauded. Collectors oriented towards new coin issues should be pleased.