235: In the Business of Making Money with Helen Maringer of Shire Post Mint
Helen Maringer – CEO of Shire Post Mint
Summary
Welcome to another episode of the Startup Junkies Podcast!
In this episode, Jeff Amerine and Matthew Ward are joined by Helen Maringer, the CEO of Shire Post Mint. Helen clues Jeff and Matthew into the secrets of coin making, having a dedicated following of Game of Thrones fanatics, taking over the family business, and moving from Springdale to West Fork. You do not want to miss this episode! As always, thanks for tuning in!
Shownotes
(1:17) Introducing Helen Maringer from Shire Post Mint
(5:19) Customer base
(11:01) Marketing through Kickstarter
(15:14) Working with the family business
(20:12) How the ScaleUp Program helped Shire Post Mint
(21:26) The process of creating coins
(30:28) What’s the vision?
(32:44) Advice for the younger self
(33:21) Wrap up
Links
Quotes
“[Working in a family business] has been a struggle for sure. Clear communication has been our best asset.” (15:17)
“On a personal level, I think ScaleUp really helped my confidence in making decisions for the business.” (20:14)
“The actual striking of the coins is kind of the quickest part. So, you know, 500 to 5,000 pretty much takes about the same amount of time.” (29:20)
In the Business of Making Money with Helen Maringer of Shire Post Mint
Do you ever wonder how coins are made? Yes, you probably know they come from a mint, but how long does it take to make them, and what does that process actually look like?
Helen Maringer, the CEO of Shire Post Mint in Springdale, Arkansas, joined the Startup Junkies to talk all things coin-making and operating a family business.
Helen’s first job was unpaid. At 11 years old, she was responsible for sorting coins and assessing which ones were solid copper. Her father had been a knife and sword maker for 30 years, but he had a moment of enlightenment while finding an antique screw press in a garage in Ohio. His dream of making coins suddenly became a reality, and he transitioned his knife and sword business to making coins.
In 2003, Helen’s father entered into an official partnership with George R.R. Martin, the acclaimed author of Game of Thrones. The series’ devoted fans provided Shire Post Mint with a different customer base that would lift the business to new heights.
Realizing it had tapped into a dedicated fan-base, the mint began printing coins for other popular sci-fi and fantasy book series. The HBO adaptation of the Game of Thrones books began airing in 2010. The critically acclaimed television series increased popularity and demand for new coins from Shire Post Mint, skyrocketing business along the way.
Now, Shire Post Mint continues to print official, licensed coins for several sci-fi and fantasy series, and it also prints many non-licensed coins, such as the moon coin. The mint’s most popular non-licensed offering is an accurate depiction of the moon at a 96 million to 1 scale.
Helen, the company’s CEO, and her brother, who runs operations for the business, have counted their fair share of challenges running the family business. Separating family from work can be difficult when you work with family. Often at holidays and family dinners, the family has to verbally establish that they will not engage in business-talk until they return to work the next day.
Still, Helen says it is a difficult boundary to respect. She admits that it is challenging to separate business from personal matters because she is dealing with her family.
“[Working in a family business] has been a struggle for sure. Clear communication has been our best asset.” (15:17)
As far as the actual process of coin making, it is as complicated as you imagine. Typically a month-long process from the inception of the idea to the final printing of the coin, it involves sketching designs, cutting, engraving, tumbling, striking, and much more.
“The actual striking of the coins is kind of the quickest part. So, you know, 500 to 5,000 pretty much takes about the same amount of time.” (29:20)
The business is currently headquartered in Helen’s parents’ home in Springdale, Arkansas, but they plan to move south to downtown West Fork, Arkansas. They are planning a 7,000 square foot production space where they can give tours as well.
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