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Geocoins On Ebay


Bjornian
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I often thought that it was just a matter of time until someone might make a coin with a unique icon but not have a wide sale to the public, thereby making demand far exceed supply. Then he or she could put some out occasionally on eBay and get some fairly obscene profits. Wonder if this could be that coin?

Ten bucks starting bid, no buy it now, five bucks shipping! One selling - if they sell - every two days.

 

I'm not getting near them. :laughing:

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That having been said... The CT coins are going out 3 ways.

1) We are distributing them (obviously free to finders) in caches.

2) We are distributing them to cachers at CT events and hand-to-hand.

3) We are distributing them on eBay to cover our costs and the cached coins.

You can't please everyone all the time, and we found this to be the best solution.

 

Bronze = 400

Silver = 300

Gold = 200

Gold/color "X of 100" = 100

 

We did this out of a love for Geocaching (why else would we have invested so much time and money?); I hope that people can respect that different people do things different ways and that we're all one big family. I hope this final post clears up our intentions!  :laughing:

 

Cache on!

Dustin

By distributing these on eBay one at a time it's going to create a situation where these coins will likely sell for a whole lot more than just what it takes to cover costs, including any coins that go in caches. Even 400 coins @ $25 = $10,000 and I suspect $25 may be on the low side for an average price once people discover they're out there. The $5 shipping is also a good bit more than cost for mailing a single coin.

 

I think eBay is a good way to distribute coins but if the motive is really to benefit the geocaching community, a dutch auction with a "Buy it now" price that reflects cost + a reasonable profit would be more in order. This "one coin at a time" method just maximizes profits for the seller.

Edited by Cache-bert
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I'm surprised no one mentioned that only 1 of the 3 designs I saw being offered was colored. That means the costs in the other 2 versions are really low to begin with. The only one I'd even care to own is the one that's color-inked. The other two don't do much for me, even if they were $10 BIN.

Edited by AtlantaGal
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That having been said... The CT coins are going out 3 ways.

1) We are distributing them (obviously free to finders) in caches.

2) We are distributing them to cachers at CT events and hand-to-hand.

3) We are distributing them on eBay to cover our costs and the cached coins.

You can't please everyone all the time, and we found this to be the best solution.

 

Bronze = 400

Silver = 300

Gold = 200

Gold/color "X of 100" = 100

 

We did this out of a love for Geocaching (why else would we have invested so much time and money?); I hope that people can respect that different people do things different ways and that we're all one big family. I hope this final post clears up our intentions!  :P

 

Cache on!

Dustin

By distributing these on eBay one at a time it's going to create a situation where these coins will likely sell for a whole lot more than just what it takes to cover costs, including any coins that go in caches. Even 400 coins @ $25 = $10,000 and I suspect $25 may be on the low side for an average price once people discover they're out there. The $5 shipping is also a good bit more than cost for mailing a single coin.

 

I think eBay is a good way to distribute coins but if the motive is really to benefit the geocaching community, a dutch auction with a "Buy it now" price that reflects cost + a reasonable profit would be more in order. This "one coin at a time" method just maximizes profits for the seller.

While I would love to have one of these. there is no way I'm going to pay $15 for a coin that probably cost $6-7 to have made, $1.50 for the number, and then .60 to ship. That's a bit too much of a profit line.

 

I have always said on these forums that it is everyone's right to charge as much as they think they can get away with. And I still believe that.

 

I have also said that we, the targeted buyers, have the choice to vote with our wallets. This time, I vote no.

 

Based on my assumptions, his built-in profit will be $5.90. I am a real big fan of the profit margin, but I'm not willing to hand anyone a nearly 50% profit right out of the chute.

 

"Love of Geocaching"? Uh-huh

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I have also said that we, the targeted buyers, have the choice to vote with our wallets. This time, I vote no.

I second that vote and hope the community at large that feels this way, acts this way.

 

My fear is that some of the collectors are going to feel that they have to have this coin to complete thier collection, or to have it to trade for other rare coins, etc. and will end up buying them.

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While I would love to have one of these. there is no way I'm going to pay $15 for a coin that probably cost $6-7 to have made, $1.50 for the number, and then .60 to ship. That's a bit too much of a profit line.

 

I have always said on these forums that it is everyone's right to charge as much as they think they can get away with. And I still believe that.

 

I have also said that we, the targeted buyers, have the choice to vote with our wallets. This time, I vote no.

 

Based on my assumptions, his built-in profit will be $5.90. I am a real big fan of the profit margin, but I'm not willing to hand anyone a nearly 50% profit right out of the chute.

 

"Love of Geocaching"? Uh-huh

I'd be really surprised if any of these go for only $10 + $5 shipping, (even though I agree that's high enough). We've been watching GC trackable coins that were sold and shipped in lots of 1000 at a time being sold consistently for months now on eBay for $20-$30 plus shipping. These Connecticut coins are being leaked out one at a time. The auction for the coin that ends tomorrow is already at $18.

 

Maybe I had a misconception about GC trackable coins but I thought they were supposed to be sold at cost or at a profit that was to go to an organzation. I may rethink my "collect all the trackables" approach if that means getting gouged.

Edited by Cache-bert
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I can understand some of the concerns here. Please let me raise a few points. I really don't want this thread to be taken over as the CT Geocoin thread.

 

1) The price WILL come down. Right now it is in more of the "I NEED IT FIRST AND NOW" area.

 

2) Shipping is to cover costs of packaging, shipping and TIME. Also note that it is set for worldwide shipping too. It was also a "test the waters" area as A LOT of others have $5 shipping. When you have many thousands of dollars on the line, you get a little worried if it is going to come back. You don't want to start hemorrhaging money right off the bat by taking a hit on shipping. We are going to try to institute a rated shipping cost based on where it is shipping to that isn't as confusing as the eBay shipping calculator.

 

3) The multiple variations were made for a couple of reasons. Some people don't like the look of the silver and gold - therefore less were made. Some want the color and numbered for collecting - only 100 were made of those because we didn't see a lot of people caring for a coin that was number 453/1000. It didn't make sense.

 

4) There will be more available once we get everything more streamlined - which will drive the price down. We aren't out to cripple anyone financially, but a profit never hurt anyone. There will be dutch auctions in the near future.

 

I absolutely agree to vote with your wallet! We do the same, as we have paid some obscene amounts for coins that we had to have, and passed on the ones that we didn't value. In time they came down and we obtained them then.

 

I appreciate the feedback on this. This is the first coin we have done, and would like to do more if possible. What isn't possible is hanging out another $5000+ on multiple credit cards (we hate the "preorder method" - it's unreliable). If we are able to profit from this, it is possible to make another coin if this doesn't turn into more work than fun.

 

I don't appreciate attacks on our character. Nothing further will be said on that matter.

 

It all comes down to this. If someone doesn't see the value in it, then it isn't purchased. I know it all seems scary right now, but I can assure you that we aren't going to make a heck of a lot of money on these. Yeah, the first few may go for a lot, but we give A LOT away - as well as some released to the wild. The price will be driven down, and those that are interested in the coin for a reasonable cost will be able to get them. After all, there will be 1000 physical coins out there.

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Shipping is to cover costs of packaging, shipping and TIME.

Wow, I didn't realize we should be charging for our TIME in making/selling/buying geocoins. Doh! :P

 

An interesting sidelight to this approach to selling state coins....you forego the substantial income generated by bulk sales to coin clubs, who ordinarily buy several hundred coins and can help you recoup costs pretty quickly.

 

For instance, PCC normally buys all state geocoins issued by caching groups, but we're passing on this one, for now, due to the unattractive economics, confusing metal choices, and sales approach (I need 50+ coins).

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This coin is definately on my "Not Likely" list. 

 

Too expensive to buy

Too rare to find

Too annoying to trade (4 varieties!)

Ditto @ 15 bucks a pop :P Ill wait and see what 2006 brings

 

Now where's that Maine Geocoin

it was $3.25 each +2.25 shipping per order no matter how many you buy

3-D on the back

2-D on the front with 5 colors

no tracking but numbered

those will make good geoswag :P

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Brywalker Posted on Dec 11 2005, 11:08 PM

 

2) Shipping is to cover costs of packaging, shipping and TIME. Also note that it is set for worldwide shipping too. It was also a "test the waters" area as A LOT of others have $5 shipping. When you have many thousands of dollars on the line, you get a little worried if it is going to come back. You don't want to start hemorrhaging money right off the bat by taking a hit on shipping.

 

You seem to have given this a lot of thought so why would you produce a coin edition without a shred of confidence that it would at minimum break even. The Maryland coin required an investment of over $8000 but we knew we would get it back due to pre order interest and the reasonable overall cost of the coins.We sold our trackable coins through our website for $6 including all shipping.Those who skiped Paypal got an additional discount.We offered our local cachers a $5 pick up price.There is a wealth of information in these forums for anyone who wants to produce a coin that reaches the geocaching community at large if that is your true goal.

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They chose their way to do it, if you don't like it, don't buy it. If they don't get enough sales, they won't do it again. It's really quite simple. Let's stop re-hashing this. There must be other things going on on ebay! Like the Christmas coin that is up to $71 (last time I checked)! Still wishing for one in a cache in my area!

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...While I would love to have one of these. there is no way I'm going to pay $15 for a coin that probably cost $6-7 to have made...

I'm of a similar mind. Why pay that much when I can't keep up with the coins that cost less. Besides I'll trade for it later. :P

 

Some coin issues are starting to languish a bit. That's a good thing. It means as people can't keep up, they are starting to focus on the subset of coins that interests them. In time that may free up coins from areas that don't interest people, as trading material.

 

One thing I do like is the trading culture that has developed.

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Shipping is to cover costs of packaging, shipping and TIME.

 

For instance, PCC normally buys all state geocoins issued by caching groups, but we're passing on this one, for now, due to the unattractive economics, confusing metal choices, and sales approach (I need 50+ coins).

The GBA coin club is passing on this as well. That's another sale of 65 coins in one package(saves TIME) that you've missed out on.

 

I'm sure they will drop in price somewhat, if they do you'll end up shipping 30 packages instead of one, if all of my members buy separately.

Edited by bullit
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The CT coins are going out 3 ways.

1) We are distributing them (obviously free to finders) in caches.

2) We are distributing them to cachers at CT events and hand-to-hand.

3) We are distributing them on eBay to cover our costs and the cached coins.

I am curious to know if the ones being distributed to cachers at CT events are being sold or just given to them? Also, since this is not a trackable coin, the ones being placed in caches just become instant collectors items for those in CT.

 

I am not a fan of "Made for eBay" geocoins, and this one appears to be a case of making a huge profit off the rest of us so that the CT cachers can get their coins for free. :anitongue:

 

I didn't mind supporting the Delugly project. That was designed to get coins in caches that would travel and allow everyone a chance at finding them in the wild. I would almost guarantee that the CT coins found in caches will not travel any further than into the cache finders collection.

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I am curious to know if the ones being distributed to cachers at CT events are being sold or just given to them?

 

They are being sold.

 

Also, since this is not a trackable coin, the ones being placed in caches just become instant collectors items for those in CT.

 

It is a trackable coin.

 

I am not a fan of "Made for eBay" geocoins, and this one appears to be a case of making a huge profit off the rest of us so that the CT cachers can get their coins for free.

 

I can assure you that this isn't the case.

 

I would almost guarantee that the CT coins found in caches will not travel any further than into the cache finders collection.

 

The only ones that are going in caches locally (for free) are the few that the ones involved in the investing are keeping for themselves to be used as FTF prizes. We have worked with a few people around the country to get activated coins to their areas to travel around (one is leaving for the West Coast today, actually). Whether or not they get stolen is up to the honesty of the finder, which no one can control - no matter how available the coins are. Unfortunately, the same can be said for any unactivated coin by any maker that is put into a cache.

Edited by Brywalker
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I was given one of these sweet little coins by Wheelygood himself at an event on Sunday, but nearly wet myself from laughing when I saw he has one posted on eBay now too! Hey, it's number 003 and I have number 004 - maybe I should bid on it!

 

http://cgi.ebay.com/Geocoin-limited-editio...1QQcmdZViewItem

I have, or should I say, I had 007. But my kids ate it at the event (they had to split it.) But wouldn't you know - I saved the wrapper!

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I was given one of these sweet little coins by Wheelygood himself at an event on Sunday, but nearly wet myself from laughing when I saw he has one posted on eBay now too! Hey, it's number 003 and I have number 004 - maybe I should bid on it!

 

http://cgi.ebay.com/Geocoin-limited-editio...1QQcmdZViewItem

I was gonna bid on it but...... (sorry in advance)

 

That's too rich for my blood!

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I was given one of these sweet little coins by Wheelygood himself at an event on Sunday, but nearly wet myself from laughing when I saw he has one posted on eBay now too!  Hey, it's number 003 and I have number 004 - maybe I should bid on it!

 

http://cgi.ebay.com/Geocoin-limited-editio...1QQcmdZViewItem

I have, or should I say, I had 007. But my kids ate it at the event (they had to split it.) But wouldn't you know - I saved the wrapper!

Imagine the bidding war you could have started with that number :mad: I sure hope it was worth destroying it <_<

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I was given one of these sweet little coins by Wheelygood himself at an event on Sunday, but nearly wet myself from laughing when I saw he has one posted on eBay now too!  Hey, it's number 003 and I have number 004 - maybe I should bid on it!

 

http://cgi.ebay.com/Geocoin-limited-editio...1QQcmdZViewItem

I have, or should I say, I had 007. But my kids ate it at the event (they had to split it.) But wouldn't you know - I saved the wrapper!

Imagine the bidding war you could have started with that number :( I sure hope it was worth destroying it :wacko:

5 bids already and the calculated shipping is over $3!

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I was given one of these sweet little coins by Wheelygood himself at an event on Sunday, but nearly wet myself from laughing when I saw he has one posted on eBay now too!  Hey, it's number 003 and I have number 004 - maybe I should bid on it!

 

http://cgi.ebay.com/Geocoin-limited-editio...1QQcmdZViewItem

 

5 bids already and the calculated shipping is over $3!

Wheelygood's comment when I emailed him to say how funny I thought this was....

 

Watching someone actually purchase the sweet coin.....priceless

:(:):wacko:

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I was given one of these sweet little coins by Wheelygood himself at an event on Sunday, but nearly wet myself from laughing when I saw he has one posted on eBay now too!  Hey, it's number 003 and I have number 004 - maybe I should bid on it!

 

http://cgi.ebay.com/Geocoin-limited-editio...1QQcmdZViewItem

 

5 bids already and the calculated shipping is over $3!

Wheelygood's comment when I emailed him to say how funny I thought this was....

 

Watching someone actually purchase the sweet coin.....priceless

:(:):wacko:

LOL!

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I was given one of these sweet little coins by Wheelygood himself at an event on Sunday, but nearly wet myself from laughing when I saw he has one posted on eBay now too!  Hey, it's number 003 and I have number 004 - maybe I should bid on it!

 

http://cgi.ebay.com/Geocoin-limited-editio...1QQcmdZViewItem

I have, or should I say, I had 007. But my kids ate it at the event (they had to split it.) But wouldn't you know - I saved the wrapper!

Imagine the bidding war you could have started with that number :blink: I sure hope it was worth destroying it :blink:

5 bids already and the calculated shipping is over $3!

Shipping on the "coin" is now free!

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Ok I've gone over board with my coin collecting :P . I want to sell off all of my extra personal geocins on ebay :D . I want to take all of your good coin designs and make a profit for myself and buy more coins and get myself into even more debt :blink: I will then buy more extra coins from everyone at cost and sell more later on ebay :( . Is that bad :P ? Please sell me more of your coins. I need them so bad. :mad: Geocoins are great!

 

I not really selling anything.... I will give my coins away before I sell them.

 

Time to hit the Streets of Mosul, today is the elections.

 

Merry Christmas :blink::blink::lol:

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Ok I've gone over board with my coin collecting :( . I want to sell off all of my extra personal geocins on ebay :blink: . I want to take all of your good coin designs and make a profit for myself and buy more coins and get myself into even more debt :lol: I will then buy more extra coins from everyone at cost and sell more later on ebay :blink: . Is that bad :P ? Please sell me more of your coins. I need them so bad. :blink: Geocoins are great!

 

I not really selling anything.... I will give my coins away before I sell them.

 

Time to hit the Streets of Mosul, today is the elections.

 

Merry Christmas :P:D:mad:

You are almost entertaining.

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Ok I've gone over board with my coin collecting :( . I want to sell off all of my extra personal geocins on ebay :blink: . I want to take all of your good coin designs and make a profit for myself and buy more coins and get myself into even more debt :lol: I will then buy more extra coins from everyone at cost and sell more later on ebay :blink: . Is that bad :P ? Please sell me more of your coins. I need them so bad. :blink: Geocoins are great!

 

I not really selling anything.... I will give my coins away before I sell them.

 

Time to hit the Streets of Mosul, today is the elections.

 

Merry Christmas :P:D:mad:

Stay safe CavScout...

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Ok here's a trade offer...

 

I really want to add a GCC First Finder Dance coin to my collection

 

I am willing to trade any one of the following:

 

2bugs

Canada

Canine Cachers ver2

GCC Ammo Can

GCC Benchmark coin

Emerald Valley Cachers - Silver

UK Coin

Oregon 2004

Screw Geocoins 2005

 

If you are willing to throw in a "red" selective availability coin... I will also be happy to include a total of two of the above listed coins. Thank you in advance!

 

Email me if you're interested at geonapATNOSPAMDOTgmailDOTcom

Edited by GeoNap
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Ok here's a trade offer...

 

I really want to add a GCC First Finder Dance coin to my collection

 

I am willing to trade any one of the following:

 

2bugs

Canada

Canine Cachers ver2

GCC Ammo Can

GCC Benchmark coin

Emerald Valley Cachers - Silver

UK Coin

Oregon 2004

Screw Geocoins 2005

 

If you are willing to throw in a "red" selective availability coin... I will also be happy to include a total of two of the above listed coins. Thank you in advance!

 

Email me if you're interested at geonapATNOSPAMDOTgmailDOTcom

Wrong topic :)

 

I think you meant here in Geocoin Trading

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