In our never-ending quest to convince more people to be interested in coin collecting, this week’s news provided us with another example of “if you do something that people like, they will be interested.”
As the U.S. Mint released the Native American dollar coin with the image of Civil Rights leader Elizabeth Peratrovich, Alaskans are clamoring for a wider release of the coin. It is the first time since the early days of the small-dollar programs that there is a broad interest in $1 coins.
Elizabeth Peratrovich was an Alaskan native who was instrumental in having Alaska’s Anti-Discrimination Law passed by the territorial government. It was the first anti-discrimination law of any type passed in the United States.
Alaskans are asking that the Federal Reserve release 5 million coins into general circulation. The Seattle Branch of the San Francisco Federal Reserve Bank is responsible for banking in Alaska.
The Alaska State Legislature passed a resolution requesting the Federal Reserve make these coins available to Alaskans.
Although the Federal Reserve has not publically responded, they should be talking with the U.S. Mint to strike the 5 million coins necessary to send to Alaska. The coins may not circulate, but it is an excellent promotion for coin collecting.
Over the last few years, we have learned that interesting themes have sold well. Look at the interest in the American Somoa National Park fruit bat design. It is a well-executed design that is very interesting and has people looking for the coin in change. It will likely be in the one America the Beautiful Quarter in the most demand.
Other commemorative coins did very well when there was an exciting topic. With no offense to the American Legion, an outstanding organization, but what was the difference in the interest between their commemorative coin and the National Baseball Hall of Fame commemorative?
Remember the Girl Scouts’ commemorative coin fiasco?
You do not have to be a rocket scientist or a marketing guru to understand people will buy what they like. It is why the Royal Canadian Mint and the New Zealand Mint sign deals with entertainment companies to sell coins with movies, comics, and other images. These coins sell.
Unfortunately, we have a congress in the way that prevents the U.S. Mint from expanding its product line. Without being able to create collector coins for a new audience, we will continue to try to figure out ways to do the impossible: get more people interested in collecting coins.
And now the news…