Eastern Numismatics sells coins of many different types. The company has been around for a while, yet it is still considered “new” to the market even though it has been operating for over ten years. Coins from Japan, China, and Russia are the company’s bread and butter. The company has a website, a Facebook page, and a YouTube channel, all of which can be accessed online. A web presence allows Eastern Numismatics Inc to communicate with its target audience on various social media sites.
Jewelry and other precious metals
Name of Owner: Andrew Csencsits
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-With over a thousand more five-star reviews on the web,
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Coins of all kinds are available at Eastern Numismatics Inc. Both bullion and collector coins are available from them. Gold Krugerrands, Gold Bars, Silver Bars, and Medals are just a few of the modern and historical bullion items they provide. Alternatively, they sell numismatic items like the United States Proof Coin Sets and commemorative coins made of gold and silver.
Strategy for Success at Eastern Numismatics, Inc.
On their website, Facebook, and YouTube, you may buy Eastern Numismatics Inc. products. The company stands out from the competition since its products are not distributed through traditional retail channels. Instead, they bypass intermediaries and sell directly to consumers, accepting various payment types. A free numismatic price guide is provided, allowing customers to look for specific coins by kind and value.
Importance of Eastern Numismatics Inc.
Coin collectors of all experience levels are among Eastern Numismatics Inc.’s typical clientele. New coin collectors are the company’s focus, which caters to them by stocking a wide selection of coins and maintaining an intuitive, user-friendly website. It helps people quickly locate what they need, boosting their satisfaction with the company.
Eastern Numismatics, Inc. has strengthened its market presence during the previous two years by releasing new products. They’ve introduced new items, such as coins with female figures. They also made it easier to find what they were looking for on their website by including a search bar and detailed product descriptions. In addition to its coin-selling services, Eastern Numismatics Inc. has started a blog. In addition, it updates readers on recent happenings in the field of numismatics. This weblog publishes weekly updates.
Eastern Numismatics, Inc.’s Competitive Edge
The website is user-friendly and offers various products, giving Eastern Numismatics Inc a competitive edge. Newer coins that are hard to come by on other numismatic websites are part of their stock. In comparison to rival corporations, this strengthens Eastern Numismatics Inc.
Benefits to the Eastern Numismatics, Inc. Economy
Eastern Numismatics Inc. had $3.7 million in revenue in 2012. The prior year’s revenue was estimated at $2.5 million, an increase. The sale of rare coins and Gold Krugerrands is Eastern Numismatics Inc’s primary source of income. Due to the rising demand for silver coins and rising interest in rare collectible coins among investors, the company anticipates continuing its rapid expansion in 2013.
Problems That Eastern Numismatics, Inc. Has Had to Deal With
The most challenging thing for Eastern Numismatics Inc is competing with other businesses in the same industry. The company focuses solely on coins, while its rivals sell things like precious metals and jewelry. Since currencies are all that Eastern Numismatics Inc deals in, its stock can only consist of coins. That prevents them from branching out into other markets except for bullion and numismatic coins.
Benefits and Drawbacks
They pride itself on its excellent customer service. Customers can call the toll-free number for assistance with their orders. In addition, the search tool on its site is one of its most vital points. Customers are more likely to be pleased with Eastern Numismatics Inc’s offerings when they can swiftly find what they need.
Theyoffers a wide selection of coins for its customers. Coins from all across the world, including Africa, Asia, and Europe, are in their possession. The fact that they sell both bullion and collectible coins is a plus for customers.
Customers are happy with Theysince the company provides them with what they want. Rare coins valued at over $10 million are kept in stock by the corporation, which is unusual for businesses of its kind. Customers can rest assured that if they look hard enough, they will be able to discover the coins they need.
Their website is straightforward to use. One of its features is a search bar, which allows users to locate specific coins quickly. If they want additional information about a product or want to see pictures of the coins, they can do so by clicking on the product. Customers are more likely to be satisfied due to the enhanced ease with which they may find the products they need.
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Eastern Numismatics Inc’s user-friendly website saves money by reducing the time consumers spend searching for the required coins. It’s an efficient use of their time and money, which boosts the worth of the company’s offerings. They also have a search bar on their website where customers can look for rare coins and see what other places are charging for them. Since consumers have the option to shop around, they wind up spending less money on rare coins from Eastern Numismatics Inc.
They consistently provide high-quality items, particularly bullion and rare collector coins. These coins are of high quality and have a high resale value, according to customers who have bought them. Customers have remarked, for instance, on the Gold Krugerrands’ dazzling sheen. As a result of the high quality of Eastern Numismatics Inc’s products, the company has earned the devotion of its clientele.
Eastern Numismatics Inc.’s products have a lower delivery price because of their location. By purchasing bullion, clients can save money that can then be used to buy rare coins from Eastern Numismatics Inc. There is a greater possibility that buyers will return to this store for additional items.
The company has released some brand-new items, including a five-dollar coin featuring a woman. It expands the selection of cash available to buyers. They also improved their website by including detailed descriptions of each currency, making it more straightforward for clients to shop for specific coins and compare costs across vendors. Eastern Numismatics Inc.’s products benefit from this distinction, making them more competitive in the market.
Eastern Numismatics Inc accepts several different payment types from its consumers. Money orders, personal checks, and major credit cards are all accepted payment methods. Giving consumers a choice in how they want to pay for their orders boosts customer loyalty and the likelihood that they will buy from you again in the future.
They also offer a customer loyalty program that benefits repeat coin buyers. By using it, users can accumulate points for future discounts or freebies. These points can be redeemed for free coins and other swag the business offers. Customers are more loyal to Them because they enjoy knowing that their purchases directly contribute to the company’s growth.
Price-wise, They offer products at a mid-range level. There have been some customer complaints about the high costs of bullion coins. Shipping prices may be another point of contention for the customer.
The lack of price transparency hinders Eastern Numismatics Inc.’s ability to compete on a level playing field in the market. Users are unable to shop around because they can’t easily find the prices of the coins they want. This leaves consumers wondering whether or not they are getting a good deal.
Misleading data on the company website: There are many inaccuracies on Eastern Numismatics Inc.’s website, which prevents potential buyers from having all the information they need to make a well-informed decision. For instance, not all available coins are displayed, and their prices are not disclosed. It’s a huge red flag for potential customers because they can’t tell if they’re getting a good deal when they buy coins from this company.
Dismal support for customers is something you can expect from Eastern Numismatics Inc. There is a distinct impression that the corporation does not care about what its customers want. A consequence of this is a decline in client loyalty. Additionally, the customer service at Eastern Numismatics Inc is slow, with email responses taking up to several days. As a result, they’ve lost out on sales to competitors who provide superior products and services.
Inadequate response time; Eastern Numismatics Inc. Customers may conclude that the company is not dedicated to earning their business. The procedure of purchasing coins from the company is prolonged by the length of time it takes for the company to react to client emails. In addition, Eastern Numismatics Inc. typically only makes offers on coins once each week, which slows the company’s ability to respond swiftly to market shifts.
Several issues exist that put Eastern Numismatics Inc at a disadvantage compared to rival businesses. The lack of pros listed here is not proof that the coin will fail to be a hit in the collecting world. If the organization is serious about growing, it will work to fix these problems and cut down on consumer complaints. The company’s bottom line and ability to compete in the marketplace will benefit from this.
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