Jump to content
Sign in to follow this  
Followers 1
Cav Scout

Geocoins Are Guaranteed Money Makers

Recommended Posts

The $417 was my cost to keep the number of coins that I wanted to have. ...Personally I'm against someone selling X# of coins and getting others to pay for what they are keeping. ...

I agree. I've got a coin in the works and made the decision early on that I'd pay for my share of the coins I'm keeping. It limits the coins in my posession, but it seems the fairest way since the die fees etc. are already shared among a lot more coins.

yes I think it is horibble... :drama:

 

just like them farmers, they grow stuff and then charge me more than it cost to grow it. and sometimes they even keep some of it for themselves to eat. :)

 

I know I know you are gonna say that's different that is making a living and this is caching. Yes people are making money on geocoins. If you don't like it, then don't buy them/trade for them.

 

as a matter of fact do not buy my coin

 

SUNSHINEGANG GEOCOIN WEB SITE

 

It appears I might make a profit on them. very little but a profit. Of course I am such a coin/caching junky that I am already working on plans with my designer on another idea. So I guess my wife is not gonna get that living room furniture she wants She getting coins for xmas instead :(

 

[flame shield enabled]

 

ok go ahead I'm ready ;)

Share this post


Link to post
[Right now [b]is[/b] the future of geocoins. It is happening as we speak. More people are making them, trading them, selling them, and putting them into caches.

 

And logging them. With or without touching them.

 

Kinda of the same thing they said about cabbage patch dolls in the 80's... Expect putting them in caches they put them in storage :(

Edited by Cav Scout

Share this post


Link to post
The $417 was my cost to keep the number of coins that I wanted to have. ...Personally I'm against someone selling X# of coins and getting others to pay for what they are keeping. ...

I agree. I've got a coin in the works and made the decision early on that I'd pay for my share of the coins I'm keeping. It limits the coins in my posession, but it seems the fairest way since the die fees etc. are already shared among a lot more coins.

yes I think it is horibble... ;) ...ok go ahead I'm ready :(

What will become tradition is being hashed out now. Not by calm discussion but by what people are doing and what they are accepting and all the angst. I'm not sure what will emerge, but I do like the no profit angle for a coin issue and I hope it wins out. I also like the one for one trading that goes on.

 

So while I'm not planning on making a profit on the coins I'm working on if someone offered me 100.00 for your coin I'd probably not think twice about selling it. :)

 

Actually I only have one of your coin so it would take a lot more than 100.00...

Edited by Renegade Knight

Share this post


Link to post

It goes back to, what is a reasonable price for a Coin?

 

If all you want is a trackable TB, you can buy that for $6.00.

 

Is $6.50 a bad price for a coin, which is trackable on GC.com?

 

Is $7.50?

 

Do you want a 'limited' run or a large run? A large run of anything will bring the cost down. 10,000 geocoins? Maybe if there were 10k, people wouldnt buy that many since you couldnt resale them on ebay :(.

 

Look at Ebay and go and review past auctions. People buy coins to re-sale, and they seem to get above what they paid. There are even people who made the coins putting them on ebay. I guess you could create a demand here, sell a few, and put the rest on ebay.

 

For me, it was simple, cover my costs on my personal coin. Look at my ThanksGiving coin, there are 12 different colors on it. Plus, it has 2 different numbers. Both a series number and a tracking number from GC.com.

 

My thought is still the same, allow those who wanted to trade trade. Allow those who wanted to buy, buy and allow those who want to find them, find them in caches. I would like to trade with everyone who would trade with me but it seems more people would rather buy.

 

And if you really want one, just follow me around the world or meet me on a FTF run and if I have one, I will hand you one, till I run out that is.

 

I wouldnt say they are money makers. But They sure are nice to have!

Share this post


Link to post

Yup, Geocoins are guaranteed money makers to those who manufacture them.

 

As for the "supply and demand" let's see if they will stay healthy. When questionable advertising (demand) and artificial shortages (supply) occur more often, then you know Cav Scout's fears have been realized, since the $numbers$ people are taking control from the hobby people.

 

It's already starting to happen. Using "Katrina Relief" in keywords, and selling a "limited" quantity of 25 without engraved numbers to assure that it's limited.

 

In the big picture, it's not something worth worrying about, since it's quite petty compared to Enron. :(

Edited by budd-rdc

Share this post


Link to post
I live in michigan and I am thinking of making a IL geocoin. Go ahead and try and stop me.

 

You could boycott my coin but I am confident that will not work. There is way to many coin whores out there that would buy one regardless of who is selling and and where the profits (if any) would go.

 

I guess my point is who owns the right to create a state geocoin?

Is it so bad if a state has more than one coin?

I think it would be great if IL had 10 different coins

 

Keep in mind the more coins there are, the more chances all you coin junkies will get a fix collecting them.

I hope this was somewhat tongue in cheek. Not sure we apprcaite being called 'coin whores'. (now if it's meant in the same fshion as 'icon whores' which was meant in good fun, then all is good - just remember the written word makes it hard to establish tone).

 

Anyway, the issue of who owns the right to make a coin is still open.

Opinions vary from:

"whoever gets to it first" to

"those within the state who are part of an organization"

 

Would it bad to have 10 state coins? Yep (IMO). Oversaturating the market and people will (and already have) started being selective in what they buy.

 

Anyway, your post seemed a little stand-offish. ("Go ahead and try and stop me.") Not sure if that was it's intent or not.

Share this post


Link to post
Would it bad to have 10 state coins? Yep (IMO). Oversaturating the market and people will (and already have) started being selective in what they buy.

So then your opinion is that coins ARE made for the purpose of selling? :blink:

Share this post


Link to post
Yup, Geocoins are guaranteed money makers to those who manufacture them.

 

Wrong answer here! the 2004 geocoin we broke even on. sold for barely enough to cover postage. the 2005 geocoin was sold the same way. (second batch cost a little more and lost money on the first batch)

Share this post


Link to post
There was once a time not to long ago if you found a metal geocoin it was from a cacher who had been a cacher for a while or from someone who had a decent number of finds to have cause to make a geocoin to leave in caches :blink: .

I am kinda planning on making a coin for when I reach a milestone for my number of caches found. Maybe hidden:)

Share this post


Link to post
Would it bad to have 10 state coins? Yep (IMO). Oversaturating the market and people will (and already have) started being selective in what they buy.

So then your opinion is that coins ARE made for the purpose of selling? :blink:

Organization coins are.

Share this post


Link to post
I am kinda planning on making a coin for when I reach a milestone for my number of caches found.  Maybe hidden:)

Check out this coin place. They have milestone coins:

 

The Caching Place

Share this post


Link to post

Hear me now and believe me for all time!!!

 

I posted this in another discussion:

 

"$10 is not a lot to ask for the coins to be minted. Here's why... First I come up with an idea, then I spend days designing it and reworking it. I contact the minter and upload the work. I wait for GC to approve the design. I pay for the coins $5/coin with minting prices, special icon and trackable GC numbers. Time is spent talking to you about this, and advertising. I spend thousands of dollars upfront and then I will then sell it to a dealer to take over sales. (Because quite frankly dealing with Paypal and people's bounced checks, sucks!) I sold 200 Big Bear coins and if I took all my time for design, advertising, Excel set up of customers, time to update with each incoming check, purchasing of mailers, time to go to the post office for pricing and stamps and mailing it off as well as constant contact with customers, I am making about $ .30/hour. The Geocoin business is not a way to make money. I do it because I am an artist. You may gripe about the cost of a coin being $7 or $10, but people who have never made a coin have no idea what goes into it.

 

And that's all I have to say about that!

 

No hard feelings. I had to get that off my chest."

 

-Ronney

Share this post


Link to post
Yup, Geocoins are guaranteed money makers to those who manufacture them.

 

Wrong answer here! the 2004 geocoin we broke even on. sold for barely enough to cover postage. the 2005 geocoin was sold the same way. (second batch cost a little more and lost money on the first batch)

I'm aware that you did not do this for profit, keeping the costs affordable. I thank you for that.

 

I'm referring to the companies that actually made the dies and coins from raw materials. So I used "manufacture" not "design." Example: KV Coins.

Edited by budd-rdc

Share this post


Link to post
Yup, Geocoins are guaranteed money makers to those who manufacture them.

 

Wrong answer here! the 2004 geocoin we broke even on. sold for barely enough to cover postage. the 2005 geocoin was sold the same way. (second batch cost a little more and lost money on the first batch)

I'm aware that you did not do this for profit, keeping the costs affordable. I thank you for that.

 

I'm referring to the companies that actually made the dies and coins from raw materials. So I worded it "manufacturers" not "designers." Example: KV Coins.

See, that's the thing about running a business... :D:D

Share this post


Link to post

It's not a matter of who designs the coin, it's a matter of who profits from the coin.  At least that's my take on things.

I live in Washington State. If I make a Kansas coin, am I going to give the money to the Kansas group?

 

No, I'm not. Neither would anyone else. Why should Cav?

 

They didn't pony up the funds, design the coin, or anything else. But, they are gonna squall like mashed cats cuz that cacher isn't in Kansas, and didn't ask permission. From who? The Governor? Cav grew up in IL, and I grew up in KS. We both have every right to make any coin we want, and, if we want to sell at a profit, that's our right, too. If you don't approve of that, then don't buy, and don't flame the cacher that is taking the financial risk to make these things. It doesn't affect you one way or the other

 

NOTE--Not picking on Kansas--it was the first state name that came to mind.

 

[edit--spelling]

Edited by Shop99er

Share this post


Link to post
Not sure we apprcaite being called 'coin whores'. (now if it's meant in the same fshion as 'icon whores' which was meant in good fun, then all is good - just remember the written word makes it hard to establish tone).

I'm sure it was tounge-in-cheek. That's how I'm taking it, anyway.

Share this post


Link to post
Not sure we apprcaite being called 'coin whores'.  (now if it's meant in the same fshion as 'icon whores' which was meant in good fun, then all is good - just remember the written word makes it hard to establish tone).

I'm sure it was tounge-in-cheek. That's how I'm taking it, anyway.

It's interesting that "coin" and "icon" share the same letters.

 

So how about we say "coin shower" instead of "coin whores" and people who need to can just rearrange those letters in their heads!

 

[grin]

 

--Marc

October 20, 2005 @ 3:06 PM

N40° 46.565' W073° 58.756'

Share this post


Link to post

personally the only coin I'm interested in minting is my personal coin. I wouldn't care to do it to make money, i'ts hard enough to come up with the funds for my own coin (no, I'm not selling them, I'm also not entertaining trade offers until I'm set up with the mint, it'll only be 100 coins, NEVER minted again, and I won't be doing another coin in the future, so I want to get it right the first time, it's not that I want to make another limited edition coin, I just want my coin to be an extension of myself, rare, and have meaning to the people that end up with one).

Share this post


Link to post

It's not a matter of who designs the coin, it's a matter of who profits from the coin.  At least that's my take on things.

I live in Washington State. If I make a Kansas coin, am I going to give the money to the Kansas group?

 

No, I'm not. Neither would anyone else. Why should Cav?

 

They didn't pony up the funds, design the coin, or anything else. But, they are gonna squall like mashed cats cuz that cacher isn't in Kansas, and didn't ask permission. From who? The Governor? Cav grew up in IL, and I grew up in KS. We both have every right to make any coin we want, and, if we want to sell at a profit, that's our right, too. If you don't approve of that, then don't buy, and don't flame the cacher that is taking the financial risk to make these things. It doesn't affect you one way or the other

 

NOTE--Not picking on Kansas--it was the first state name that came to mind.

I live in New York, but I've driven to Ohio... And I've been in Arizona... So can I make and sell those coins? Of course!

 

Ultimately however, I think much of this really makes no difference, nobody has any lock on coins or states whatsoever. How can anyone tell anyone else they can't make a coin. They can't, they just don't have to buy it.

 

And as far as profit-making on coins - let the market settle that. I find it interesting that people will pay for a coin upfront, without even a picture sometimes, because they don't want to miss out, or they can't let one coin escape their collection. Cool, what's wrong with that? Nobody has to buy coins (it's not like the electric compnay!).

 

--Marc

October 20, 2005 @ 3:16 PM

N40° 46.565' W073° 58.756'

Share this post


Link to post

(Stand by while I'm attempting to perform a perspective adjustment)

 

You guys realize that in the big picture, the principles about rights and ownership discussed here also apply to sports stadiums and events, right?

 

For example:

 

Candlestick Park --> 3Com Park --> Monster Park

 

And personally, I feel icky whenever I hear commercialized names of college bowl games. ;)

 

I'm also weary of "free market" promoted like religion, especially when I got to see its ugly side during the Dot-com and the so-called energy crisis.

 

As for Geocoins, people ought to consider the consequences of using names that represent something bigger than personal. Without that courtesy, there will be NO END to accusations and ill feelings regardless of intent.

Share this post


Link to post
  kealia  Oct 19 2005, 12:19 PM

I hope this was somewhat tongue in cheek. Not sure we apprcaite being called 'coin whores'. (now if it's meant in the same fshion as 'icon whores' which was meant in good fun, then all is good - just remember the written word makes it hard to establish tone).

 

My comment was directed towards junglehair's post. As if the state org or anybody else has the authority to decide who can make a state coin. A person can make a coin and if people do not like it then they can simply not purchase/trade for it. sorry for not being more clear...

 

The Terms Coin Whores, coin junkies were meant in good fun. I have just started following this forum and most of the regulars here refer to there collecting as an addicting habbit and admit to spending way more than they should

 

I have just been getting very upset ;) with all the post here about how people should make coins for free.. it is fine when someone drops $1000 on there own personal coin but if they happen to make some money on the deal it is wrong. I am wondering how many of these idealists have invested $1000 of thier own money in a coin.

 

I personally could not have afforded such a venture without selling some off. But because I did sell some I was able to afford it. So now there is one more coin out there for everyone to collect. and in the end with all of the hours I put in, should anyone really care about the 50 cents an hour I made off them?

 

sorry just had to get that out there. ah that feels better :D .. now where is my GPS I should go find a cache.

 

 

:D

Share this post


Link to post
btw responding to the original post does any one else know of any other commerial sites out there selling thier own coins for profit

 

other than this site www.geocoinclub.com???

For commercial I have USAcoins, Canada's equivilent, Oakcoins, coinclub and the one I just saw posted yesterday that sells Milestone coins as commercial.

 

I could be wrong on any of them but that's my list so far.

Share this post


Link to post
...and the one I just saw posted yesterday that sells Milestone coins as commercial.

That would be this website.

Share this post


Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  
Followers 1

×