Tamanho da fonte: 

Our paper brings a theoretical approach to the numismatic market in the United States. The term “numismatic market” refers to the “collectible coins” market. This market brought a total revenue of $4.8 billion to the US Mint in the 2014-2015 period. The US Mint sell the coins online and uses a network of independent retailers in order to sell the coins physically (“physical stores”). The Mint also sets the price and a “discount rate” to retailers, therefore also setting their profit. Our model showed that the demand for the retailers in this supply chain will be greater than for the Mint. We also show that the Mint will choose the discount rate so that the participation constraint of the retailers is satisfied, in order for the retailers’ profit to be not too small that no retailer would be interested in reselling the coins. Possible research interests for the Brazilian market are also discussed.