Coin Makers - Full Disclosure

[+Chaos A.D./aka Arlsdaddy]

How about this????

 

I've recieved many emails asking if I had any Emerald Dragon coins in gold. I don't, but is that something the collectors would want? I could do it, but that wasn't my intention. They say limited edition, but would they be limited if another run was made in a different metal? Your choice

[+AtlantaGal]

How about this????

 

I've recieved many emails asking if I had any Emerald Dragon coins in gold. I don't, but is that something the collectors would want? I could do it, but that wasn't my intention. They say limited edition, but would they be limited if another run was made in a different metal? Your choice

I'd trade you for one or buy one. I bet that design would look awesome in a shiny gold!

[+Team Maddie UK]

I think it would look fantastic in gold and would definitely buy/trade for it

[+KevinG68]

How about this????

 

I've recieved many emails asking if I had any Emerald Dragon coins in gold.  I don't, but is that something the collectors would want?  I could do it, but that wasn't my intention.  They say limited edition, but would they be limited if another run was made in a different metal?  Your choice

I'd trade you for one or buy one. I bet that design would look awesome in a shiny gold!

I agree. I wouldn't ming getting one of those myself.

[CoyoteRed]

I generally don't respond without reading the whole thread, but this has me a bit concerned.

 

As the princle on the creation of the SC coin, my intent from the start was to get the first set out and then each year change the material saving the die charges. The idea is like for next year if one is created is maybe use the same die but without polishing stamp out some in bronze or brass to try to give a rougher "pirate" look. Then next year something else. All of these much cheaper.

 

I know this first year coin is not going to have the same collectibility as we're talking orders for however many folks want plus a few. We're up front about this. The only surprise is the later availability of the fine silver coin without the coloring.

 

As long as I'm in charge of the creation of these coins there will only be one run of this coin in any one material and only one run for each year. (Besides this one as we don't even know if we're making another coin next year.) So, we've got the first year coin in nickle silver and a premium coin in fine silver. They are nearly identical except for the material and the fine silver will not be "painted" or have reeded edge.

 

Now, at last tally there are well over 800 nickle-silver coins pre-ordered. We're likely to purchase a couple hundred extra for those who might want one but don't frequent the forums. Plus we're probably going to hold a few back for ourselves.

 

We're over the 25 coin mark for the fine silver. We will purchase only a very few extras of those. Once they are gone, they are gone.

 

Now, one of the reasons we're doing it this way is our train of thought is everyone who wants one should have one, within reason. We're allowing anyone who wants one to put their say in and get one. We understood from the start this would hurt it's collectibility because they will be fairly common in the beginning. But like I said, once they are gone, they are gone. No more will be made.

 

Are we making missteps in the way we are creating these coins?

 

Oh, and one other thing. One side of the die was non-group, South Carolina specific with the intent from the beginning to allow South Carolinians to create a coin of their own using that one side. Is that wrong? I hope not because we were thinking about making a personal coin not for sale and not for trade, only to drop into caches we really enjoyed or as FF prizes. Wrong?

 

I fully admit we're not into the coin collecting scene. It's only the chance that this is something I do, that I got tasked with this.

 

Feedback is appreciated.

[+HerrK & Friends]

Are we making missteps in the way we are creating these coins?

I think this is the correct way...for all!

[+rowanf]

Okay, I've been reading this thread since the beginning and even commented above.

 

I am in a dilemma myself. I wanted a personal coin to trade. So I made one. As seems to be the custom, I figured I'd sell some to help pay for the ~$1k costs involved which is a bit more ready cash than I have lying around.

 

I said I'd mint 250 coins. In under 12 hours almost all of them sold. I dont' have any left for trades or leaving in caches which is what I wanted them for! Nothing anyone had mentioned in the forums prepared me for the feeding frenzy that ensued when I published my pre-order info.

 

If I bump the run to 300 so I can have some for my own use have I sinned against the community?

 

Like I said before in this thread, I collect coins because I like to track them, share them at events and leave them in caches. One of my Compass Rose coins is having a great bi-coastal run and I love it.

 

I really don't know what the aftermarket is in coins, or whether people really expect some kind of appreciation in value. I wasn't trying to create a collectible, I was trying to create a signature item. Is it a total solecism to mint enough so I have my own coin to enjoy?

 

Rowan (cross-posting a version of this to the thread on my coin)

[+Hula Bum]

When I start my spreadsheet, I always pull out how many kealia wants first, so we don't find ourselves selling out without getting his (sounds like it's a little late for that, but if you do it in the future).

 

Interesting question, is rowanf better off to cancel some of the last orders to get his/hers or to add to the order?

[+Renegade Knight]

I'm not sure people really thought ahead when they made personal coins using community money.

 

A lot of cachers sold them to the community and in the process got some they could afford themselves that they couldn't otherwise have done. It's win win but it's a double edged sword. Now you can afford the coins, but you needed help and you do owe those people a debt for making it possible. That debt is nothing more than being honest about what you are doing. If you said "I'm making 250 and that's it". That was part of the deal that everyone bought into. You can always find someone to buy more if you make more, but it's the ones who already helped you out that you gave your word to.

 

I think the best solution for personal coins say up front that you are going to make an LE coin that you sell, and that you are going to use the same die for your own use (which you may also sell) in a potentially unlimited quanity. Once the art and die are done the coin is a lot less expensive.

[+Renegade Knight]

...I said I'd mint 250 coins. In under 12 hours almost all of them sold. I dont' have any left for trades or leaving in caches which is what I wanted them for! Nothing anyone had mentioned in the forums prepared me for the feeding frenzy that ensued when I published my pre-order info. ...

That's a tough spot.

 

Like HulaBum said have to plan in advance what you want to get out of it. If you know you want 50 you set those aside first, then say your cut off is 250. That means 200 are sold, you got 50. Everyone else is on the waiting list.

 

You could email everone and say you would like to make 50 (or however many more) coins for your own use (same metal, different metal). They get the option to back out if it's a deal breaker, you get some coins for your own use. If enough back out...you can fill in some from your waiting list.

 

The only people you need to worry about are the ones who pre-ordered. They are the only ones who pre-ordered based on your 250 limit.

[+rowanf]

I'm not sure people really thought ahead when they made personal coins using community money.

 

A lot of cachers sold them to the community and in the process got some they could afford themselves that they couldn't otherwise have done. It's win win but it's a double edged sword. Now you can afford the coins, but you needed help and you do owe those people a debt for making it possible. That debt is nothing more than being honest about what you are doing. If you said "I'm making 250 and that's it". That was part of the deal that everyone bought into. You can always find someone to buy more if you make more, but it's the ones who already helped you out that you gave your word to.

 

I think the best solution for personal coins say up front that you are going to make an LE coin that you sell, and that you are going to use the same die for your own use (which you may also sell) in a potentially unlimited quanity. Once the art and die are done the coin is a lot less expensive.

Hmm. I wasn't really prepared for all this. I asked several times in the forums questions, like... what is a normal run on a personal coin? does anyone have any advice? and I got 100 people reading the question for 1 actual response.

 

I have never set up a paypal shopping cart before. I don't know if there is some way I could have restricted the amount sold.

 

I actually said, I'm thinking of making 200-250 since I had no idea what was a normal run. I was as honest as I knew how to be. I have been posting in this forum for several weeks trying to prepare for this who personal coin thing without a whole lot of feedback.

 

I definitely have no plans to sell anymore. I just want some for *me*. For trades, for leaving in caches, for giving to my mentors in geocaching, for giving to my famly as a vanity silliness. I don' t know. I just never imagined the speed with which the buying got away from me.

 

I don't really have a problem giving refunds to people whose timestamp is after the time I said the run was closed. But even if I do that I only have a handful of coins left for myself. It never occured to me to continue making coins from the die beyond a original mint run... it just never occured to me that they would sell out leaving me holding nothing either.

 

Perhaps it is time for a nice pinned thread of advice for those embarking on a personal coin.