Amazon adds coins to the marketplace

Amazon has added a new category of collectible coins to its online marketplace. These would be made available by the third party sellers. Earlier, it added storefronts such as Amazon Wine (2012), Entertainment collectibles (2013), Amazon Art (2013) and Prize Authentics (2013).

iamWire Take: Amazon from quite some time is extending its presence in higher end markets, to gain high margins. With players like Walmart also trying to expand their eCommerce presence, a shift into this niche areas can add to a competitive advantage for amazon. However, at the same time, this would also poise a question on how effectively, the concept could get success, wherein giants like eBay have also suffered failure.

The coins would be a part of sellers antique collection. For example, a  1907 $20 MCMVII Proof Ultra High Relief—a U.S.-issued coin with ties to President Theodore Roosevelt and designed by sculptor Augustus Saint-Gaudens—is available for $3.75 million. (As covered by Internet Retailer)

It would give customers direct access to more than 10,000 unique U.S. coins from more than 75 dealers including Stack’s Bowers Galleries, Kagin’s, David Lawrence Rare Coins and Liberty Coin.

““Coins have been one of the most searched for items in our collectibles stores. The introduction of the Collectible Coins store was inspired by customer demand and the need to provide a unique experience for customers to discover graded and rare U.S. coins from reputable dealers,” said Steve Johnson, Director at Amazon Marketplace. (As covered by RetailCustomerExperience.com)

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