Eastern Numismatics Inc’s general products include a range of bullion and numismatic coins. They offer bullion coins such as Pre-Columbian, Greek, Roman, and Celtic coinage, as well as modern issues like Gold Krugerrands, Gold Bars, Silver Bars, and medals. Their numismatic products include United States Proof Coin Sets and gold and silver commemorative coins.

The business model of Eastern Numismatics Inc revolves around selling their products directly to customers through their website, Facebook, and YouTube channels. They do not rely on third-party dealers, which sets them apart in the market. The company offers various payment methods to facilitate transactions.

Eastern Numismatics Inc holds value for both new and experienced coin collectors. They cater to new collectors by providing a wide selection of coins and maintaining a user-friendly website. Their free numismatic price guide helps buyers search for specific coins by type and denomination, enhancing the overall experience for their customers.

Over the past two years, Eastern Numismatics Inc has made significant strides in solidifying its position in the market. One key aspect of their development has been the expansion of their product lineup. By introducing new offerings, such as coins featuring prominent women, they have enhanced their selection and appeal to a broader customer base.

To improve the overall user experience, Eastern Numismatics Inc has also invested in upgrading their website. They have implemented a user-friendly search function, allowing customers to easily navigate and find the products they desire. Additionally, the website now provides comprehensive information about each product, enabling customers to make informed purchasing decisions. In an effort to keep customers engaged and informed, Eastern Numismatics Inc has introduced a blog that covers topics related to coin selling and current events in the numismatic world. This blog is regularly updated on a weekly basis.

One of the competitive advantages of Eastern Numismatics Inc lies in their customer-friendly website. It offers a wide array of products, including recent coins that are often hard to come by on other numismatic sites. This extensive inventory sets them apart from other similar companies in the market and gives them a distinct edge.

In terms of financial success, Eastern Numismatics Inc experienced significant growth in 2012. Their gross revenue reached USD 3.7 million, a notable increase compared to the previous year’s estimated revenue of $2.5 million. The primary source of revenue for Eastern Numismatics Inc is the sale of rare coins and Gold Krugerrands. Looking ahead, the company anticipates maintaining its current growth trajectory in 2013. This projection is supported by the growing demand for silver coins and the increasing popularity of rare collectible coins among investors.

Overall, Eastern Numismatics Inc has strategically positioned itself in the market through product expansion, website enhancements, and strong financial performance. These factors contribute to their competitive advantage and pave the way for continued success in the numismatic industry.

One of the primary challenges faced by Eastern Numismatics Inc is the competition from other companies in the market. Unlike some of its competitors, Eastern Numismatics Inc focuses solely on selling coins. While they excel in this particular niche, it also means that their product range is limited compared to companies that offer a broader selection, including precious metals and jewelry. This narrower focus restricts their inventory to predominantly bullion and numismatic coins, limiting their ability to diversify their offerings beyond this scope.

The competition in the market becomes more intense as customers have a wider range of options when it comes to purchasing precious metals and related products. Eastern Numismatics Inc needs to find innovative ways to differentiate themselves and attract customers who are seeking a broader range of products. While their specialization in coins is their strength, it also poses a challenge in capturing customers who may be looking for a more comprehensive selection.

To overcome this challenge, Eastern Numismatics Inc could explore strategic partnerships or collaborations to expand their product range. By forming alliances with other companies specializing in complementary areas such as precious metals or jewelry, they can offer customers a more diverse range of options without compromising their core expertise in coins. This would allow Eastern Numismatics Inc to attract a broader customer base and compete more effectively in the market.

Additionally, they can focus on leveraging their existing strengths and expertise in the coin market. By further enhancing their customer service, providing expert knowledge and guidance, and continuously updating their inventory with unique and sought-after coins, Eastern Numismatics Inc can establish themselves as the go-to destination for coin collectors and enthusiasts.

Overall, while Eastern Numismatics Inc faces the challenge of competing with companies that offer a wider range of products, they can overcome this by capitalizing on their specialization, forming strategic partnerships, and providing exceptional customer service to maintain their position in the market.