Winner of the Excellence in Marketing award for the 2016 New Zealand International Business Awards.
New Zealand Mint has reinvented the global market for collectible coins to become a world leader.
The Auckland based coin minter and bullion dealer has won the Excellence in Marketing award in the 50th annual New Zealand International Business Awards, run by New Zealand Trade and Enterprise in partnership with ANZ.
New Zealand Mint gained international attention for releasing popular coin collections through its licensing agreements with leading brands, including Disney and the BBC.
Exports make up half of the Mint’s $60 million-plus revenue, and its coins are sold in over 30 countries worldwide.
New Zealand Mint chief executive Simon Harding says the company’s success is due to its people and innovation.
“New Zealand Mint is continuously innovating our business model, finding smarter ways of doing business internationally,” says Harding.
The company has expanded its business in the United States, China and Australia, as well as breaking into new markets in Asia.
Collectors pay a premium for the Mint’s coins; collectable products range from a half ounce silver Season’s Greetings Christmas tree ornament coin for $79 to a 1kg gold classic Mickey Mouse coin for $73,000.
The Mint approached brands including Disney, Lucasfilm (Star Wars), BBC and Konami (the Japanese gaming company) and convinced them to license a range of collectible coins that would appeal to more diverse and younger consumers.
These global brands have now formed valuable partnerships with New Zealand Mint, which has been growing its share of the global coin collector market despite declines in the traditional coin collectors’ aging demographic.
“New Zealand Mint is a highly profitable company with less than 20 staff, and in the same way that our nation does, we punch well above our weight in international business,” says Harding.
“Being agile and fast moving has given us a competitive advantage over our international competitors.”
The Mint also has a relationship with the government of Niue and other pacific nations to create legal tender and engrave the head of Queen Elizabeth on the coins.
The New Zealand International Business Awards celebrate the success of New Zealand businesses on the world stage.
From the Judges:
New Zealand Mint is a remarkable turnaround story. In a few years they have emerged as a major global producer of commemorative coins. The way that they have structured the business to achieve high sales, high growth and strong profitability with such few staff is remarkable.