Does the U.S. Mint Need a Loyalty Program?
The Royal Canadian Mint recently announced that on July 1, which is Canada Day, it will launch a new customer loyalty program.
The Mint already has such a program called the Masters Club, but in the past year it consulted with its customers to make changes to the program. Previously anyone who spent $1,000 during a 12-month period joined the club and received advance notice and access to new releases and free shipping on all orders.
With the new program there are three levels: silver once you spend $1,000; gold after you spend $1500; and platinum when your total purchases reach $2000.
In addition to the benefits of the previous iteration of the club, members will now have a variety of new benefits such as three special coins a year in which at least 90% of the mintage will be reserved for club members; free access to Mint tours and special events; the ability to purchase special cases to display and store your coins, etc.
I like how the RCM frequently offers attractive cases for its coin sets and series, which is something I would like to see other mints, especially the U.S. Mint do too.
But should the U.S. Mint offer its loyal customers some kind of reward program? This is something I have heard collectors ask for many times, and I believe it would be a good idea.
The closest it has come so far is the subscription program 10% discount, which existed for only part of last year.
As part of the revamping of the U.S. Mint’s web site and order management system last year, the Mint said it would offer special deals for its buyers, but so far that has only included a couple of free shipping days.
Many customers were sad to see the subscription discount end, especially with the price of the five-ounce silver America the Beautiful coins running 50% over the cost of the bullion versions.
I hope the U.S. Mint’s management considers following the lead of its Canadian competitor and creates some type of loyalty program to reward its regular customers. It could include anything from free shipping over a certain dollar amount to reward points or other benefits.
And some nice display boxes for coin series would be great too like the ones it briefly made in 2007 for the First Spouse gold coin series.
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