It might not be world domination yet but The Perth Mint has developed a truly global presence. This week our Agents travelled to Perth from around the world with thoughts and ideas about our coins from key overseas regions including Hong Kong and China, North America, Japan and Germany.
Sales and Marketing Director Ron Currie said the annual summit of overseas Agents had taken on added importance with massive changes in the coin market occurring in recent years.
On the supply side, he said the industry had become fiercely competitive with national and private mints moving into commemoratives, all looking to cash in on the booming sector. Rising precious metal prices and popular themes like the Year of the Dragon had helped drive interest to new heights, he said.
From a demand perspective, much greater choice was having a huge impact on collectors. But it was not all necessarily positive, with some seemingly overwhelmed by the mind-boggling number of alternative programs available.
Many questions face the team this week. Is there the possibility now of collector fatigue setting in? What product strategies are needed to keep collecting fresh and relevant in various world markets? What else can committed, long-term players in the market like The Perth Mint do to preserve enthusiasm among collectors?
If you have views on how the numismatics industry should develop, please join the debate by leaving your comment below.