Near Mint
The packaging Nightmare of the U.S. Mint Gold Buffalo Coins
When the U.S. Mint announced it was a .9999 gold coin to add to its range of gold coins, it looked like a "golden opportunity" for the Mint a big chunk of 24-karat gold coin market. When the legislation was adopted to write the new coin bear James Earle Fraser's designs that graced the legendary Buffalo / Indian Head nickels from 1913 through 1938, the new currency in the future looked even brighter.
However, the release of the new Buffalo gold coin, the Mint is golden opportunities turned into a nightmare at the retail level. While the coin itself is quite striking, with a matte finish and fully capture the Fraser designs, the packaging makes the coins a nightmare.
Although most of the blame can be laid on Congress for attempting to "micro-manage" production and distribution of the coins, the Mint should accept its share of the blame for the choice of packaging, which does not mean the retail aspects of the package.
Congress mandates that the coins be individually encapsulated to protect them from damage, apparently issues which have risen by one-ounce Canadian Maple Leafs to avoid. Furthermore, Congress ordered that the Mint, the coins ready for distribution at the end of June. To meet the deadline, the Mint had a method of packaging was readily available and that would accommodate anticipated large sales volume.
The Mint chose a semi-rigid Mylar packaging, five coins horizontally with four coins down, making twenty coins to a sheet. With large distance between the coins, a "sheet Buffalos" measures twelve inches by sixteen inches. The packaging causes various problems.
Because of the rigidity of the Mylar, a sheet can not be folded into one big bundle. Orders for less than twenty coins have to be cut from the plates for coins packed compact, which is desired and expected-for gold coins.
Undoubtedly, the semi-rigid packaging for the Buffalos meant a permanent protection However, to provide. The Mylar is so rigid that an original sheet of twenty buffalo can not be easily stored. A sheet of twenty can be rolled up like a magazine and then rubber-banded, but then storage would take much space. Whereas the smallest of lockers will hold hundreds of 1-oz Gold Eagles because they come in compact tubes, perhaps only sixty or so Gold Buffalos would fill a small safe.
Another problem that has surfaced. The coins easily from their protective sheets when handled this means the coins must be transferred to a tube or individual plastic sleeves, which are often used for single currency purchases. Or, the Mylar can be repaired with Scotch tape, hardly an attractive solution.
Because of the problems that have arisen with the packaging, Buffalos will not appeal to many large bullion buyers but to collectors, who may want only a few coins. Investors Buffalos ordered, without knowledge of the packaging are disappointed. With the current packaging, it is unlikely that the Mint will capture much of the .9999 fine bullion coin market.
While the Mint may point to early robust sales, new coins nearly always enjoy strong early sales. And with the popular Buffalo / Indian Head design Buffalo undoubtedly remain favorites of collectors and people looking for gifts. However, the Buffalos were introduced to go after the .9999 fine gold bullion coin market, where investors make repeat orders. So the test for the Buffalos will come out ahead in the coming months when we learn as investors, second and third orders for Buffalos make.
It is the opinion of this 32-year veteran of the gold coin market as a market that the U.S. Mint does not make changes in Buffalo packaging, sales will erode over time, and the Mint will be a missed a golden opportunity to catch large piece of pure gold coins, which is now dominated by the Royal Canadian Mint's Gold Maple Leafs.
The solution to the problem Currency is to change the packaging as soon as possible, taking into consideration how large investors are likely to mint coins in a safe. For investors who do not save in lockers, compactness is more important, because the coins must be easy to hide. The Mint seems to have completely ignored this aspect of the market.
Moreover, the Mint must mind that the coins should be handled by bullion coin dealers who ship the coins to the final investors. The present packaging causes twenty coin or larger orders shipped in large boxes, adding to shipping costs. The big boxes can also attract more trips to the post office. It also increases the cost of treatment for orders less than twenty coins, as they should be cut from the sheets.
Since Congress ordered that the coins be individually encapsulated, the Mint to go with a hard plastic capsule as used by the Perth Mint. Then the capsule coins should be ten to one tube, compactness for ease of storage. This would also facilitate handling by coin dealers.
To correct the problem and really go after the .9999 bullion coin market of the Mint should encapsulate the coins individually and put them in tubes of ten. Then ten tubes should be placed in small, sealed boxes and durable. And, finally, five small boxes of 100 coins should be in a larger box of 500, which is how the Mint ships best-selling Gold Eagles. Boxes of 500 are popular with large investors, and the boxes of 100 would be attractive to medium-sized investors.
The packaging of the new Buffalos this way would facilitate storage and handling both for investors and for retail dealers. Currency must think with the retail packaging, taking into account how investors store, and think about the bullion dealers who handle the new Gold Buffalos in delivering them to pure bullion coin investors.
About the Author
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What are these near mint yugioh cards worth?
I know nothing about trading cards, but I inherited 3magic and a monster. (Kuriboh, Black Pendant, Swords of revealing light, polymerization) They are in the green-backed cabinet with a silver dot in the upper left corner. They are also hello graphic (I think that's what you call it). So I am interested in selling it. Where and for how much is my question.
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