1525-0012-0197 US Mint Quantitative Consumer Research - Platinum Eagle and 100th Anniversary

1525-0012-0197 OMB FY15 Platinum Research for years 2016 - 2018_final_5-7-2015.docx

Generic Clearance for Voluntary Surveys to Implement E.O. 12862

1525-0012-0197 US Mint Quantitative Consumer Research - Platinum Eagle and 100th Anniversary

OMB: 1525-0012

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UNITED STATES MINT

QUANTITATIVE CONSUMER RESEARCH

UNITED STATES MINT PLATINUM EAGLE SERIES AND 100th ANNIVERSARY DESIGN SURVEY

OMB Clearance Request

5/7/2015


  1. Introduction /Purpose of the Research


This collection request is for the United States Mint to conduct a new product research study seeking information about customer interest in new American Eagle Platinum coins and coin series over the next three years, from 2016 – 2018. This study is similar to several recent quantitative new product assessments the United States Mint has undertaken. Conducting research to test interest in new product offerings is essential before investing substantial resources in developing a new offering.

The results from this survey research study will assist the United States Mint’s Product Management Branch in validating interest and understanding the potential demand for 2016, 2017, and 2018 product offerings. These include: 1) Platinum and/or Gold coins that would be offered in 2016, to commemorate the 100th Anniversary of Classic Coin Designs; 2) Platinum coins that would be offered in 2017, to commemorate the 20th Anniversary of the Platinum coin; and 3) multi-year Platinum coin series, which would be offered in 2018. This data collection will help ensure that customer interest and preference will inform the development of these product lines, which will in turn help ensure customer satisfaction and that the investment of organizational resources is maximized.


Part of the United States Mint’s mission is to produce and make collectible coin products available directly to the American public. Executive Order No. 12862 (September 1993), titled “Setting Customer Service Standards,” establishes a mandate for the government to improve and adhere to best practices when providing customer service directly to the American people, such as by conducting research to determine satisfaction with existing services and to ensure the kind and quality of services offered are aligned with those the public wants (Section 1b). To effectively accomplish these goals, the United States Mint utilizes a combination of accepted research methods that shed light on the awareness, satisfaction and preferences among the public as they relate to collectible coin products and services. The United States Mint Platinum Eagle Series and 100th Anniversary Design Research survey is one of these instruments.


Conducting market research in advance of introducing new products and services, or before making changes to existing products and services, is vital to ensuring those decisions are as likely as possible to enhance customer satisfaction and maximize organizational efficiency. The United States Mint knows from experience that making new product and service decisions in the absence of a reliable information collection is likely to lead to undesirable outcomes in terms of customer satisfaction and organizational performance. The United States Mint is placing renewed emphasis on advance testing of new product concepts and changes to existing products to inform our decision making and improve customer and operational outcomes.


The consequences of not performing this collection are the United States Mint’s diminished ability to produce and offer collectible coin products that the public is interested in, and to maintain service levels that satisfy customers.

II. Sample Design and Methodology


The United States Mint American Eagle Platinum Series and 100th Anniversary Design Research survey is designed to be web-based, with customers receiving an e-mail invitation to complete the survey. The targeted sample is a total of 4,400 United States Mint customers divided into four groups:


Description

Targeted Sample

Platinum Purchasers

400

Gold Purchasers

1,200

Silver (but not Gold and/or Platinum) Purchasers

1,200

General Customers (but not Silver/Gold/Platinum Purchasers)

1,600

Total

4,400


Each of these groups will be divided among 16 monadic cell blocks as follows:







Platinum Purchasers





Gold Purchasers


Silver (but not Gold and/or Platinum) Purchasers

General Customers (but not Silver/Gold/Platinum Purchasers)



Sample for each Monadic Cell

Product Alternative 1 (Monadic Cell Block A)

25

75

75

100

275

Product Alternative 2 (Monadic Cell Block B)

25

75

75

100

275

Product Alternative 3 (Monadic Cell Block C)

25

75

75

100

275

Product Alternative 4 (Monadic Cell Block D)

25

75

75

100

275

Product Alternative 5 (Monadic Cell Block E)

25

75

75

100

275

Product Alternative 6 (Monadic Cell Block F)

25

75

75

100

275

Product Alternative 7 (Monadic Cell Block G)

25

75

75

100

275

Product Alternative 8 (Monadic Cell Block H)

25

75

75

100

275

Product Alternative 9 (Monadic Cell Block R)

25

75

75

100

275

Product Alternative 10 (Monadic Cell Block T)

25

75

75

100

275

Product Alternative 11 (Monadic Cell Block U)

25

75

75

100

275

Product Alternative 12 (Monadic Cell Block V)

25

75

75

100

275

Product Alternative 13 (Monadic Cell Block W)

25

75

75

100

275

Product Alternative 14 (Monadic Cell Block X)

25

75

75

100

275

Product Alternative 15 (Monadic Cell Block Y)

25

75

75

100

275

Product Alternative 16 (Monadic Cell Block Z)

25

75

75

100

275

Total Sample

400

1,200

1,200

1,600

4,400


The contents of each monadic cell block are explained below:


2016 100th Anniversary of Classic Design


  1. Platinum coins with proof finish with no mintage limit

  2. Platinum coins with an uncirculated finish with no mintage limit

  3. Gold coins with proof finish with no mintage limit

  4. Gold coins with an uncirculated finish with no mintage limit

  5. Platinum coins with proof finish with mintage limit

  6. Platinum coins with an uncirculated finish with mintage limit

  7. Gold coins with proof finish with mintage limit

  8. Gold coins with an uncirculated finish with mintage limit

2017 Platinum American Eagle Coins


  1. Proof/no privy in a 2017 New Rendition

  1. Proof/20 year privy with in a 2017 New Rendition

  2. Reverse proof/no privy in a 2017 New Rendition

  3. Reverse proof/20 year privy in a 2017 New Rendition

  4. Proof/no privy in a 1997 Original Rendition

  5. Proof/20 year privy in a 1997 Original Rendition

  6. Reverse proof/no privy in a 1997 Original Rendition

  7. Reverse proof/20 year privy in a 1997 Original Rendition


64 Monadic Cells (AR, AT, AU, AV, AW, AX, AY, AZ, BR, BT, BU, BV, BW, BX, BY, BZ, CR, CT, CU, CV, CW, CX, CY, CZ, DR, DT, DU, DV, DW, DX, DY, DZ, ER, ET, EU, EV, EW, EX, EY, EZ, FR, FT, FU, FV, FW, FX, FY, FZ, GR, GT, GU, GV, GW, GX, GY, GZ, HR, HT, HU, HV, HW, HX, HY, HZ) are created by pairing each 2016 option (A-H) with each 2017 option (R, T-Z) once.


Questions regarding potential offerings for 2018 research will be seen by every monadic cell.


For the 2018 research, customers will be asked their preference and interest regarding the 7 possible variations of the program:


  1. 3 year series that celebrates the Preamble of the Declaration of Independence

  2. 3 year series that celebrates the Preamble of the Declaration of Independence -- with special finish (e.g., reverse proof)

  3. 4 year series derived from FDR’s speech during WWII

  4. 4 year series derived from FDR’s speech during WWII -- with special finish (e.g., reverse proof)

  5. 5 year series centered on the 1st Amendment

  6. 5 year series centered on the 1st Amendment -- with special finish (e.g., reverse proof)

  7. Continue current program (to serve as a point of comparison)


The sample will be divided into 64 monadic cells as described above. Respondents in each category will evaluate their likelihood to purchase one permutation of each of the 8 (A-H) and 8 (R, T-Z) types of potential products as follows:







2017 Platinum American Eagle Coins




Proof/no privy in a 2017 New Rendition (Option R)


Proof/20 year privy in a 2017 New Rendition (Option T)

Reverse Proof/no privy in a 2017 New Rendition (Option U)

Reverse Proof/20 year privy in a 2017 New Rendition (Option V)


Proof/no privy in a 2017 Original Rendition (Option W)


Proof/20 year privy in a 2017 Original Rendition (Option X)

Reverse Proof/no privy in a 2017 Original Rendition (Option Y)

Reverse Proof/20 year privy in a 2017 Original Rendition (Option Z)

Shape1

2016 100th Anniversary of Classic Design

Platinum coins with proof finish with no mintage limit
(Option A)


2016 Opt. A

2017 Opt. R
(Monadic Cell AR)


2016 Opt. A

2017 Opt. T
(Monadic Cell AT)


2016 Opt. A

2017 Opt. U
(Monadic Cell AU)


2016 Opt. A

2017 Opt. V
(Monadic Cell AV)


2016 Opt. A

2017 Opt. W
(Monadic Cell AW)


2016 Opt. A

2017 Opt. X
(Monadic Cell AX)


2016 Opt. A

2017 Opt. Y
(Monadic Cell AY)


2016 Opt. A

2017 Opt. Z
(Monadic Cell AZ)

Platinum coins with uncirculated finish with no mintage limit
(Option B)


2016 Opt. B

2017 Opt. R
(Monadic Cell BR)


2016 Opt. B

2017 Opt. T
(Monadic Cell BT)


2016 Opt. B

2017 Opt. U
(Monadic Cell BU)


2016 Opt. B

2017 Opt. V
(Monadic Cell BV)


2016 Opt. B

2017 Opt. W
(Monadic Cell BW)


2016 Opt. B

2017 Opt. X
(Monadic Cell BX)


2016 Opt. B

2017 Opt. Y
(Monadic Cell BY)


2016 Opt. B

2017 Opt. Z
(Monadic Cell BZ)

Gold coins with proof finish with no mintage limit
(Option C)


2016 Opt. C

2017 Opt. R
(Monadic Cell CR)


2016 Opt. C

2017 Opt. T
(Monadic Cell CT)


2016 Opt. C

2017 Opt. U
(Monadic Cell CU)


2016 Opt. C

2017 Opt. V
(Monadic Cell CV)


2016 Opt. C

2017 Opt. W
(Monadic Cell CW)


2016 Opt. C

2017 Opt. X
(Monadic Cell CX)


2016 Opt. C

2017 Opt. Y
(Monadic Cell CY)


2016 Opt. C

2017 Opt. Z
(Monadic Cell CZ)

Gold coins with uncirculated finish with no mintage limit
(Option D)


2016 Opt. D

2017 Opt. R
(Monadic Cell DR)


2016 Opt. D

2017 Opt. T
(Monadic Cell DT)


2016 Opt. D

2017 Opt. U
(Monadic Cell DU)


2016 Opt. D

2017 Opt. V
(Monadic Cell DV)


2016 Opt. D

2017 Opt. W
(Monadic Cell DW)


2016 Opt. D

2017 Opt. X
(Monadic Cell DX)


2016 Opt. D

2017 Opt. Y
(Monadic Cell DY)


2016 Opt. D

2017 Opt. Z
(Monadic Cell DZ)

Platinum coins with proof finish with mintage limit
(Option E)


2016 Opt. E

2017 Opt. R
(Monadic Cell ER)


2016 Opt. E

2017 Opt. T
(Monadic Cell ET)


2016 Opt. E

2017 Opt. U
(Monadic Cell EU)


2016 Opt. E

2017 Opt. V
(Monadic Cell EV)


2016 Opt. E

2017 Opt. W
(Monadic Cell EW)


2016 Opt. E

2017 Opt. X
(Monadic Cell EX)


2016 Opt. E

2017 Opt. Y
(Monadic Cell EY)


2016 Opt. E

2017 Opt. Z
(Monadic Cell EZ)

Platinum coins with uncirculated finish with mintage limit
(Option F)


2016 Opt. F

2017 Opt. R
(Monadic Cell FR)


2016 Opt. F

2017 Opt. T
(Monadic Cell FT)


2016 Opt. F

2017 Opt. U
(Monadic Cell FU)


2016 Opt. F

2017 Opt. V
(Monadic Cell FV)


2016 Opt. F

2017 Opt. W
(Monadic Cell FW)


2016 Opt. F

2017 Opt. X
(Monadic Cell FX)


2016 Opt. F

2017 Opt. Y
(Monadic Cell FY)


2016 Opt. F

2017 Opt. Z
(Monadic Cell FZ)

Gold coins with proof finish with mintage limit
(Option G)


2016 Opt. G

2017 Opt. R
(Monadic Cell GR)


2016 Opt. G

2017 Opt. T
(Monadic Cell GT)


2016 Opt. G

2017 Opt. U
(Monadic Cell GU)


2016 Opt. G

2017 Opt. V
(Monadic Cell GV)


2016 Opt. G

2017 Opt. W
(Monadic Cell GW)


2016 Opt. G

2017 Opt. X
(Monadic Cell GX)


2016 Opt. G

2017 Opt. Y
(Monadic Cell GY)


2016 Opt. G

2017 Opt. Z
(Monadic Cell GZ)

Gold coins with uncirculated finish with mintage limit
(Option H)


2016 Opt. H

2017 Opt. R
(Monadic Cell HR)


2016 Opt. H

2017 Opt. T
(Monadic Cell HT)


2016 Opt. H

2017 Opt. U
(Monadic Cell HU)


2016 Opt. H

2017 Opt. V
(Monadic Cell HV)


2016 Opt. H

2017 Opt. W
(Monadic Cell HW)


2016 Opt. H

2017 Opt. X
(Monadic Cell HX)


2016 Opt. H

2017 Opt. Y
(Monadic Cell HY)


2016 Opt. H

2017 Opt. Z
(Monadic Cell HZ)



Prices are provided only so that respondents can properly assess their interest in each option. We are not attempting to assess sensitivity to differences in or changes to price.


The customer sample for the survey will be obtained from the customer database lists and will be selected randomly among the population of customers fitting the defined criteria.


Potential customer respondents will be sent email invitations to take the survey on-line. The survey should take no more than 15 minutes to complete. Based on our historic response rates and our experience with this type of survey, we anticipate inviting 60,000 customers to respond to the survey in order to achieve the targeted 4,400 sample size. Collected survey data will be cleaned, weighted and tabulated.


  1. Survey Design


The survey is designed to assess interest and demand in three program areas for the years 2016 to 2018: 1) 2016 Platinum and/or Gold coins, 2) 2017 Platinum coins, and 3) 2018 Platinum coins.


Participants will be asked several standard screening questions pertaining to purchasing history, future intent and purchase likelihood.


Afterwards, , the survey asks a set of questions exploring appeal, likelihood to purchase, the quantity likely to purchase and the reason for their likelihood to purchase answer. Each respondent will answer for only 1 of the 64 monadic cells, which are explained in the previous section. In addition, all monadic cells will respond to survey questions in the 2018 Platinum coin section. Finally, all respondents are asked a set of standard demographic questions, after which they have completed the survey.


  1. Methods to Maximize Response Rates


This survey approach is designed to minimize the amount of intrusion and burden that is placed on customers. Accordingly, calls will not be made to them, nor will other “intrusive” measures that normally might be used to maximize response rates. We plan to send e-mail invitations to respondents explaining that participation is totally voluntary and that their feedback will be used to help improve the products and services we offer. Multiple reminder emails (e.g., one to two) will be sent to potential respondents to invite them to complete the survey. Respondents can complete the survey at a time convenient to them. No monetary incentive will be offered to customers.


We ensure that our data provides reliable population-level inferences by carefully designing the sampling plan with appropriate strata and sample sizes and by weighting the data to account for the survey design and to adjust for non-response.


The United States Mint deals with non-response bias in a number of ways. First, question non-response (those who don’t answer a question but would otherwise complete the survey) is minimized by the survey tool, which requires respondents to make a selection for all questions. Second, survey non-response (people who don’t respond to the survey invitation and those who respond but don’t complete the survey) is minimized by keeping the survey short and as simple as practicable, allowing respondents to take the survey at a time convenient to them, and by sending reminder emails (usually one to two) to invitees who have not yet responded.


The United States Mint will account for non-response bias by weighting the survey data and applying other adjustment techniques where appropriate and available.


  1. Estimate of the Burden Hours


The collection of information will involve completion of the survey via the Internet with up to 4,400 randomly selected customers. The average time to complete the survey will be approximately 15 minutes. Therefore, the total estimated burden for this survey is 1,100 hours.

US Mint Platinum Eagle Series and Design Research Survey

All respondents

4,400

Average minutes to complete survey

15 mins

Total estimated burden hours

1,100 hrs



If you have questions related to the review of this collection request, you may contact any of the following individuals at the United States Mint’s Sales and Marketing Department:


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