What Is The Ideal Coin Edition Size

[+Lemon Fresh Dog]

Hello there,

I was wondering what the ideal coin edition size would be?

 

Objective:

1) not to sell out in a day, week

2) to ensure folks can buy multiples so that some end up in caches

 

My initial thought was 500, but I think this is way too low.

 

What to folks think?

[+DancesWithMoose]

Looks like Iowa sold 750 of 1000 on the open market in less than 24 hours.

[+Cornerstone4]

Hey LFD,

 

Depending on the design, 500 is too low. On the "Screw Geocoins" we went with 1000 coins.

 

500 were spoken for the first night. I'll let you know if we get stuck holding the bag for too many of the 1000!

[+Ladybug Kids]

New York sold 1000 gc.com trackable coins in less than a day. Alaska sold 1500 non-gc.com trackable coins over the course of several weeks. California sold 2000 non-gc.com trackable coins in two waves over several weeks. I believe Georgia sold 1000 gc.com trackablge coins in about 40 minutes (?) after preannouncing when the order page would go live.

 

My sense is that a state edition size of 1000-1500 is about "right" to provide access to the majority of interested cachers and allow for some trading and cache dropping fun. For pure collectability, a special limited edition of a few hundred coins could be offered (like the Georgia peach and the MIGO seasonals). In another 6 months to a year, I suspect the "ideal" edition size will grow to 2000 or more coins. Bigger editions should mean less expensive coins because the die and set-up costs are spread across more coins which should address some cachers' complaints about the current escalating cost of coins.

 

Personal coin editions of 100-200 seem to be pretty common which makes trading competition for some coins pretty intense.

[+Sudonim]

After 10 days of sales, the Maine Geocoin is up to about 1250 ordered (non GC trackable).

[+Renegade Knight]

It's going to depend on the type of coin. A state coin will need between 1500-2000 to not sell out right away. The larger the state the more internal demand in that people who normally don't care will buy their states coin.

 

300 of a personal coin will be plenty if they are a random cacher unknown to the masses. More if a popular cacher decides to sell a coin. Moun10bike for example probably can't truly afford to keep up with demand or potential trades.

 

Then there are the commercial coins. Some meet all demand within a certain time frame. Others set a number and charge a high enough price to where they don't sell out right away.

 

Kick price into the equation and tracking. Trackable = more demand. High price lowers it. If I came out with the RK coin at 100.00 each I'm not going to sell that many. If I hit it at 5-6 each then it would be quite a few.

[+AtlantaGal]

I agree, it depends on the organization behind the coin...

 

Personal coins 300

Organization coins 500-750

State coins 1000

[+Chaos A.D./aka Arlsdaddy]

Besides, I NEVER found or know anyone who has found any coin in a cache. There was a 2003 USA coin that turned up missing in a local cache, so legend goes. If you want to make sure they get distributed from cache to cache, then unfortunatley you'll probably have to make them wooden.

[+Lemon Fresh Dog]

I have an Ohio and a Maryland doing very well in circulation (although I defaced them).

 

As an example, if I listed the following coins to trade:

 

Canada

Greenman

Joy of Caching

 

Would I have any takers (I'm not interested in trading -- these are samples only)

 

I am thinking that a coin in high volume or continous production might be a good thing. It becomes a neat item to find, but common enough to negate some of the "stealing" that occurs (assuming it is trackable and activated of course -- otherwise it's an item like any other).

 

Personally, I am so fed-up with editions of 100 coins for state and organizations being sucked-up and unavailable that I am not collecting them on purpose -- this is more of a fun rather than fanatical passtime. I'll trade for them where I can, but spending $100+ on a geocoin almost guarantees it isn't going into a cache anytime soon. In fact, is it truely a geocoin if none are in the "wild"? -- other topic.

 

So..... I am seeing about 1000 coins getting sucked up pretty fast. I wonder how long a 5000 coin, trackable edition would last at .... $6.50 each?

[+hydnsek]

Besides, I NEVER found or know anyone who has found any coin in a cache. There was a 2003 USA coin that turned up missing in a local cache, so legend goes. If you want to make sure they get distributed from cache to cache, then unfortunatley you'll probably have to make them wooden.

I've found several geocoins in caches - Canada, Texas, Kentucky, US geocoins, GOWT, Vacman, AGA, Pepper, Moun10Bike, forget what else. I was foolish enough in my innocence of a year or so ago to actually move a few of them along....quickly snapped up by others. Definitely found more wooden coinage, tho, can't argue with you there.

 

Now I just have to figure out if I'm a "random cacher unknown to others" before I get started on that personal coin, so I know how many to order.

[+Lemon Fresh Dog]

You want some coins in caches?

 

Try these:

 

Woss Happening

Woss New

Woss This?

Cliff Cache (which is in the middle of a city park)

 

In total, I have placed about 40-50 coins in caches. Some are moving and the non-trackable ones tend to get snatched by early finders -- although, local coins tend to stay in caches as most local cachers already have them ()Calgary)

[+AtlantaGal]

Besides, I NEVER found or know anyone who has found any coin in a cache.  There was a 2003 USA coin that turned up missing in a local cache, so legend goes.  If you want to make sure they get distributed from cache to cache, then unfortunatley you'll probably have to make them wooden.

I found two coins in caches this past weekend (one I couldn't claim since I own one already, but I have the other one in my collection now). I've also left probably at least 50 of my personal coins in caches over the last 6 months. I too agree that wooden nickle type coins are a lot more common to find.

Edited October 26, 2005 by AtlantaGal

[+Lemon Fresh Dog]

I have considered this further and think that any coin edition of less than 10,000 (you read that correctly - TEN THOUSAND) is unlikely to be widely seen in caches.

 

As an example, I have purchased numberous Canada geocoins -- the most recent of which was in the 3700-range.

 

Of the 20+ that I have cached in the past 7 months, all but one seem to be well gone into collections.

 

I do understand there is likely to be a time issue (for example, if you have a 2003 quarter in your pocket, you will use it towards your latte, if you have a 1903 quarter you will hold onto it)

 

So even a small edition will see some local cache activity, but soon as it leaves the local area and as soon as a few months pass -- it is now ripe for "capture".

 

As an example of this -- there were some 1500 Calgary coins (in various metals) created. I know of a few local caches with coins in them , but ask the community here as to how many have seen a Calgary coin in a cache in their area.

 

I think geocoins (even trackable ones) are poor Travel Bugs in their original form unless there are at least 10,000 of the coin out there. (with a few odd exceptions to be sure)

[+dhenninger]

German Geocoin + washington 2004 geocoin

 

How about this combo traveling from cache to cache

 

I almost hesitated to bring it to an event, knowing what usually happens to travel bugs at events

 

 

Edit: corrected html

Edited October 27, 2005 by dhenninger

[+nielsenc]

I just picked up a USA Geocoin in a cache in WA while visiting. This is the first one that I found. The other one was handed to me to drop in Singapore.

 

I think I read somewhere that there were 10,000 USA Geocoins produced and many people are holding onto them.

 

That being said, how hard is it to find a YJTB or even a WJTB? There are 10,000 of them out there. How many people are holding them and you cant even buy one!

 

I would put the number at about 20,000 + to have coins show up in caches more often and not get taken as much.

[+LSUMonica]

I always buy at least two geocoins per type -- 1 for my collection and one to travel. I specifically say on the note in the coin container that the purpose of the coin is to TRAVEL from cache to cache so that ALL geocachers have the opportunity to get the icon on their stats page.

 

So far it has worked very well and all coins continue to move.

[+Thrak]

I just picked up a USA Geocoin in a cache in WA while visiting. This is the first one that I found. The other one was handed to me to drop in Singapore.

 

I think I read somewhere that there were 10,000 USA Geocoins produced and many people are holding onto them.

 

That being said, how hard is it to find a YJTB or even a WJTB? There are 10,000 of them out there. How many people are holding them and you cant even buy one!

 

I would put the number at about 20,000 + to have coins show up in caches more often and not get taken as much.

I'm pretty new - first find was 8/8/05 - and I've found both a White Jeep and a Yellow Jeep. (Well, it used to be yellow but someone has painted it PINK! Ewwww......)

 

They are actually out there. Having said that, I've yet to see a geocoin in a cache.

[+SunshineGang]

We bought 300

 

seemed the price break was good and we sold over half of them in 24hours of posting it here. We wanted plenty to trade though too