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Limited Edition - Why Not A Lottery


WWC-World's Worst Cacher

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Why are those who are doing limited edition coins not making them available using a lottery system? This would be much fairer than having to deal with the somewhat unreliable e-mail systems that some have or forcing people to make a choice between church and a geocoin.

 

A 24 hour or 48 hour window then a random drawing until the coins are gone. A bit more complex but a much fairer and saner

 

Just a thought

 

On the otherhand, we do remember that they are just coins.

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I figure its because 1. a lottery would complicant coin sales even more. 2. It doesn't really benefit the person/group selling the coins (not a complaint).

As long as the coins sell its assmued those that really wanted coins got them (because they're always on the look out, might be in a some sort of buying group, and probably are 'active' in trading).

 

of course i've never made or sold a geocoin so maybe i'm way off.

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Perhaps because designing, producing the coin with a vendor, accepting orders, and packing hundreds of envelops is already A LOT of work. Running a lottery for limited editions would add yet one more step to the coin issuing process.

 

In a sense for me, first come, first served is a lottery in and of itself. I've been fortunate enough to jump in on some offerings within minutes of them going live. Other coins have sold out while I was still sleeping because Alaska is four hours behind the right-hand coast (for example, the recently issued LI coin limited edition, though I did get a few bronze). I've usually been able to track down an edition I missed via cointracking.com or the coin trading thread and been able to trade for it. It's actually kind of fun to scramble around shooting off e-mails with trade offers. I missed out on the original Dutch coin sales, but managed to trade for five of them with three different cachers in a matter of thirty minutes after sales closed.

 

Bottom line for my family and me is that we're collecting these coins for fun and refuse to get upset because we missed out on a coin.

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Why? What's wrong with 'first-come, first-served'?

Because not everyone lives on these fourms. The Geoghost coin actually started selling and was sold out before the posted time of the sales. The LIGO coin came up for sale on Thanksgiving day without any warning After a four hour drive to my brothers that day I was lucky just to get some of the bronze.

THe Georgia Peach was sold out even before I could get to the page as I don't have a high speed connection.

Why not just put them up for auction and let the highest bidders have them. I would rather see the maker of the coin get the higher price rather than some greedy coin hound who gets them just to sell them on EBAY.

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Not everyone puts them on e-Bay. :drama: I usually get a few extras so I can trade with others for coins that I have missed on. I started just a few months ago and it was the only way for me to start getting some of the coins that I want to get. Sometimes, I have to buy some of the harder to find coins on e-Bay because no one wants to trade, but some of the prices are getting ridiculous :mmraspberry: . I have not sold a single coin on e-Bay myself.

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Not everyone puts them on e-Bay. :drama: I usually get a few extras so I can trade with others for coins that I have missed on. I started just a few months ago and it was the only way for me to start getting some of the coins that I want to get. Sometimes, I have to buy some of the harder to find coins on e-Bay because no one wants to trade, but some of the prices are getting ridiculous :mmraspberry: . I have not sold a single coin on e-Bay myself.

Ditto! :santa:

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Not everyone puts them on e-Bay. :drama: I usually get a few extras so I can trade with others for coins that I have missed on. I started just a few months ago and it was the only way for me to start getting some of the coins that I want to get. Sometimes, I have to buy some of the harder to find coins on e-Bay because no one wants to trade, but some of the prices are getting ridiculous :mmraspberry: . I have not sold a single coin on e-Bay myself.

Ditto! :santa:

Ditto, ditto for us.

 

Some I have been lucky to get, most have not, but then fun on trades. As I don't know yet the value of some coins over others, I have traded 1 for 1 even if the other cost $3 and mine $10. Well maybe I will hold out.

 

I was first hooked by my son winning one at a local event drawing where even some good used gps units were given a new life.

 

I am an active paid up member of GAA and only by missing a few am I able to make my house payment.

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Why? What's wrong with 'first-come, first-served'?

THe Georgia Peach was sold out even before I could get to the page as I don't have a high speed connection.

This was going to be my point. For those coin sales that are preannounced, such as Georgia Peach LE, those who have access to DSL or cable modem have a distinct advantage over those of us who don't.

 

Sure, I did get 2 peaches. But I'm one of those over-sales that everyone is arguing over in that other thread. There is no way I ever had a chance to be in that first 200. There has to be a saner way of doing this.

 

But on the other hand, I too enjoy trading for coins I missed out on. It's part of the game. :mmraspberry:

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With all due respect o everybody who's posted here - who said it has to be fair? :mmraspberry:

 

Think about it. When a large chain like Best Buy or Circuit City has a sale on an item that they only have 20 of, it's first-come first-served.

 

Part of the whole fun for me is trading coins. It's really not that much fun just buying every coin, IMO.

 

That being said, there is NO way to make it fair for everybody.

By putting things on sale at 9:00AM EST, is that fair for us on the West Coast that have to get up at 6:00AM?

 

What about starting coin sales during weekdays? Those of us that have to work a 9-5 type shift may miss out on those - do we say that coins can only be sold on the weekends? What about those who work on weekends?

 

Really, this is supposed to be fun. Enjoy the ones you get, trade for the ones you don't and realize that no solution will make everybody happy.

 

Besides, if everyone got one, they wouldn't be LE now would they? :drama:

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Simple observation - the easier to get a coin is, the less percieved value it has.

 

Another observation - I used to got to Buffett concerts at least once a year because it was fun to try to get good seats. I quit going as soon as the nambi pambis got the Ticket Cartel (Ticketron) to award tickets based on a "lottery". I mean really, wheres the fun in that. Fair sucks. Scouring forums for the latest coin to pop up... Trading like a madman to get the ones you miss... Deciding when to pull the trigger on ebay... now THAT'S fun.

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The Geoghost  coin actually started selling and was sold out before the posted time of the sales.

That is utterly wrong.

 

We announced that the GeoGhost coins would go on sale at 1 pm Pacific Time, and that's what time we started, according to the clock on my computer.

Edited by Shop99er
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Why are those who are doing limited edition coins not making them available using a lottery system? This would be much fairer than having to deal with the somewhat unreliable e-mail systems that some have or forcing people to make a choice between church and a geocoin.

 

A 24 hour or 48 hour window then a random drawing until the coins are gone. A bit more complex but a much fairer and saner

 

Just a thought

 

On the otherhand, we do remember that they are just coins.

If you think that the current system is unfair, then maybe you should quit complaining and do a coin yourself, in just the way you propose.

 

As others have said in this thread, taking a coin from idea to finished product takes a lot of time and effort. And money.

 

I'm not going to complicate the whole thing by setting up a lottery. Why? Because whoever lost would bellyache that "it's not fair".

 

There are no guarantees here, or anywhere else. If you miss a coin because you slept late, went somewhere, have a slow connection, or some other reason, too bad. It happens. I've missed several coins that I was interested in because I had to go to work, decided that sleeping was a better option, have a slow connection, had chores to do around the house, etc. That's life, and life, including getting one of those LE coins, ain't fair.

 

And, where do you get this notion that the folks that sell these things are "forcing people to make a choice between church and a geocoin"? How do we force you to do anything? You live about 1000 miles from me, so I'm real sure I didn't force you to do anything. And I doubt if anyone else has, either.

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With all due respect o everybody who's posted here - who said it has to be fair? :)

 

Think about it. When a large chain like Best Buy or Circuit City has a sale on an item that they only have 20 of, it's first-come first-served.

 

Part of the whole fun for me is trading coins. It's really not that much fun just buying every coin, IMO.

 

That being said, there is NO way to make it fair for everybody.

By putting things on sale at 9:00AM EST, is that fair for us on the West Coast that have to get up at 6:00AM?

 

What about starting coin sales during weekdays? Those of us that have to work a 9-5 type shift may miss out on those - do we say that coins can only be sold on the weekends? What about those who work on weekends?

 

Really, this is supposed to be fun. Enjoy the ones you get, trade for the ones you don't and realize that no solution will make everybody happy.

 

Besides, if everyone got one, they wouldn't be LE now would they? :ph34r:

I agree with kealia. I find that trading the coins to be a big, fun, part of collecting them. I buy a couple of the ones I can, and now I am slowly being able to make trades with others for ones I missed out on.

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A lottery seems like a good idea to me.

 

It seems as if the same people buy all the coins. Maybe I'm not fanatical enough. I have missed almost a dozen sales since I found out about this activity/forum. It would be nice to be able to get one once in a while. So far I have been able to buy none.

 

Little pieces of art. Glimpses into the lives of the artists. I think I would enjoy collecting the coins. I'll let you know if/when I get one.

 

If I can't buy any, I can't collect or trade them.

 

Flame away.

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Simple observation - the easier to get a coin is, the less percieved value it has.

 

Not sure I buy this. I am not interested in the coin because it's "vaulable." I am interested in the art. I think I would like to belong to the community. I am not sure I can/do belong until I have actually managed to buy a coin. From the outside it seems as if the difficulty in getting the coins makes joining the community difficult.

 

Anyone "investing" in the coins for their value is going to have an interesting retirement.

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Hold on a sec. Am I really the first to think about this option. Why not list coins as BUY IT NOW on ebay? You inventory control so you will never sell more coins then you mint. Instant payment so you can get your money to the mint and gc.com right away and you can have them start at a specific time which allows you to let everyone know a couple of days in advance.

 

Remember you can set it up as ONLY "buy it now" so the price is set.

 

What am I missing?

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Simple observation - the easier to get a coin is, the less percieved value it has.

 

Not sure I buy this. I am not interested in the coin because it's "vaulable." I am interested in the art. I think I would like to belong to the community. I am not sure I can/do belong until I have actually managed to buy a coin. From the outside it seems as if the difficulty in getting the coins makes joining the community difficult.

 

Anyone "investing" in the coins for their value is going to have an interesting retirement.

I think part of the draw is that they ARE difficult to attain. It's simple supply and demand. It absolutely makes them more valuable even if they're not more valuable to you. The other part of it is the excitement of it all. A lottery takes away the excitement and leaves anxiety, wondering if you'll be "chosen".

Edited by JMBella
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Hold on a sec. Am I really the first to think about this option. Why not list coins as BUY IT NOW on ebay? You inventory control so you will never sell more coins then you mint. Instant payment so you can get your money to the mint and gc.com right away and you can have them start at a specific time which allows you to let everyone know a couple of days in advance.

 

Remember you can set it up as ONLY "buy it now" so the price is set.

 

What am I missing?

While this might be a good idea you have just added someone else with their finger in the proverbial pie. Ebay will not only get their listing fee, but also a percentage of all totals from the auction. This will increase the "cost" of the coin as no one wants to sell coins for less than it cost them to be minted.

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Hold on a sec.  Am I really the first to think about this option.  Why not list coins as BUY IT NOW on ebay?  You inventory control so you will never sell more coins then you mint.  Instant payment so you can get your money to the mint and gc.com right away and you can have them start at a specific time which allows you to let everyone know a couple of days in advance. 

 

Remember you can set it up as ONLY "buy it now" so the price is set.

 

What am I missing?

While this might be a good idea you have just added someone else with their finger in the proverbial pie. Ebay will not only get their listing fee, but also a percentage of all totals from the auction. This will increase the "cost" of the coin as no one wants to sell coins for less than it cost them to be minted.

I see it as paying for a very useful service. It's about .50 per coin but now you don't have to worry whether you LE 200 coin mint will become a 330 coin mint. As a seller you just made your life easier. I might decide to do that and split the extra cost.

 

Would you not buy a coin if it was 25 cents more? even 50 cents more?

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Bottom line for my family and me is that we're collecting these coins for fun and refuse to get upset because we missed out on a coin.

These are words everyone should live by! This is supposed to be a fun additional aspect of geocaching, and not really a competition, although the competitive nature of trying to purchase/trade for a limited edition is exciting and fun, don't get me wrong. :)

 

--Marky

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Hold on a sec.  Am I really the first to think about this option.  Why not list coins as BUY IT NOW on ebay?  You inventory control so you will never sell more coins then you mint.  Instant payment so you can get your money to the mint and gc.com right away and you can have them start at a specific time which allows you to let everyone know a couple of days in advance. 

 

Remember you can set it up as ONLY "buy it now" so the price is set.

 

What am I missing?

While this might be a good idea you have just added someone else with their finger in the proverbial pie. Ebay will not only get their listing fee, but also a percentage of all totals from the auction. This will increase the "cost" of the coin as no one wants to sell coins for less than it cost them to be minted.

I see it as paying for a very useful service. It's about .50 per coin but now you don't have to worry whether you LE 200 coin mint will become a 330 coin mint. As a seller you just made your life easier. I might decide to do that and split the extra cost.

 

Would you not buy a coin if it was 25 cents more? even 50 cents more?

I don't know why people are complaining about this. Doesn't paypal already take a cut of the purchase? I don't see anyone complaining about paypal.

 

I think your idea has merit. Ebay is already set up specifically to manage this kind of limited sale in a high volume environment. Designing your own site that can deal with it would be a pain (for those that don't enjoying designing complex websites).

 

--Marky

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Hold on a sec.  Am I really the first to think about this option.  Why not list coins as BUY IT NOW on ebay?  You inventory control so you will never sell more coins then you mint.  Instant payment so you can get your money to the mint and gc.com right away and you can have them start at a specific time which allows you to let everyone know a couple of days in advance. 

 

Remember you can set it up as ONLY "buy it now" so the price is set.

 

What am I missing?

While this might be a good idea you have just added someone else with their finger in the proverbial pie. Ebay will not only get their listing fee, but also a percentage of all totals from the auction. This will increase the "cost" of the coin as no one wants to sell coins for less than it cost them to be minted.

I see it as paying for a very useful service. It's about .50 per coin but now you don't have to worry whether you LE 200 coin mint will become a 330 coin mint. As a seller you just made your life easier. I might decide to do that and split the extra cost.

 

Would you not buy a coin if it was 25 cents more? even 50 cents more?

While ebay would be inventory control in that you could set it up as a dutch auction to only sell so many it has it's drawbacks too. You would have to consider not only the additonal fees to add to the cost of the coin ($0.45 if listed at a fixed price dutch auction assuming $8 per coin shipping would be added after that and doesn't get fees tacked onto it, which to me wouldn't be enough to matter on an LE) but what would stop one person from going in at the begining of the auction and buying all of the coins in one lot and leaving none for anyone else. It might also jam ebay's system to have that many people buying from one auction at once.

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I think your idea has merit. Ebay is already set up specifically to manage this kind of limited sale in a high volume environment. Designing your own site that can deal with it would be a pain (for those that don't enjoying designing complex websites).

 

--Marky

But from another aspect of ebay and inventory control that might avoid one person buying all 200 (or however many) coins at one shot would be to temporarely open an "ebay store" (the first 30 days are free as long as you close it w/in the 30 days) and use the ebay turbo lister to create a listing for say 2 coins at a fixed price with immediate payment require and then copy that listing however many times is appropriate to reach the number of coins you have and upload them all at one time (thus all listings of 2 coins would start at almost the exact same time). The downfall to this would be that if several people clicked the same listing the one that hit the "buy it now" button first would get it and the others would be having to go back and scrabble for the other listings (would tick some people off while someone like me would find it kind of fun and just trade later if I didn't get one, but I'm also the type of person that prefers to snipe auctions at the lasst minute).

 

I was just throwing aout another option. I personally am not overly fond of the new craze of selling coins on ebay for profit. I think that unless it's for a charity that any coin listed on ebay should be sold at a "buy it now" price at cost or just a little over to cover the ebay fees and a small amount for the time takes to list and package the coin.

 

Just my $0.02

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...but what would stop one person from going in at the begining of the auction and buying all of the coins in one lot and leaving none for anyone else.  It might also jam ebay's system to have that many people buying from one auction at once.

There's nothing stopping someone from doing that now. Anyone can go in and even though you say it's a limit of 2 coins, they fill in 20 instead. What I did to deter that was tell people that anyone buying more than the allowed amount would have their entire order refunded. Which would most likely result in them losing out on getting any coins at all.

 

As far as jamming ebay's system, I can't see that happens. It's servers, I'm sure could handle 100 times whatever we can throw at them.

Edited by JMBella
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Hold on a sec.  Am I really the first to think about this option.  Why not list coins as BUY IT NOW on ebay?  You inventory control so you will never sell more coins then you mint.  Instant payment so you can get your money to the mint and gc.com right away and you can have them start at a specific time which allows you to let everyone know a couple of days in advance. 

 

Remember you can set it up as ONLY "buy it now" so the price is set.

 

What am I missing?

You aren't the first :) and I don't think you are missing anything. The only drawback (other than the fee's) is that your customers may be something other than geocachers and they may not understand the concept of pre-payment so you can afford the coins to begin with. The lag between payment and reciept can be two or more months.

 

Whoever does this, their rating might take a beating. Unless they pay for the coins out of pocket first, then you are trying to estimate demand.

 

Edit: Read more posts. Limiting cons to X # per buyer is the hard part. I didn't think of that...

Edited by Renegade Knight
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I have been reading alot of these threads over the last two weeks and have decided on a couple of things. I have strted the process of looking into having my own personal coin made. I'm hoping to put a plan into action next spring when I get my tax returns. At that time depending on how much money I have and what it will cost will decide how many coins will be made, although other options are being looked into. The only thing that has been decided for sure is that I will have my geonick on it (obviously) and one side will be a dreamcatcher and the other will have an eagle. Outside of that I'm still planning and wont be doing anything with it till next year. All intentions be it LE or whatever will be decided and posted when that time comes.

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Not around here, in fact one of our biggets stores in electronics, Fry's, usually has sales with "Limited to stock on hand". Which equals to first come first serve. Concert tickets also. Stand in line while others are shopping online and may get ticket or not. Sometimes they are sold out and then a new block opens up.

 

Conclusion to us, let the market deal with it, and bless the individual that puts them up for sale in these times, where there is lots of work, and always someone to complaine. For most people, it's the first time they have sold anything except in a garage sale and with stuff selling out in 1, 2 or 3 min.

 

Besides. if I don't like it, I can always go Cache.

:ninja::ninja::ninja::ninja:

Edited by Mystery Ink
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I think that first come first serve is the fairiest way... but I must admit that I think that Email is a bad way to accomplish this. with spam filters in high gear alot of emails get lost and delayed. I am not posting to complain I have actually gotten on the list for more than one limited edition coin this way. But then once you email you have to wait a very very long time for the sellers to swift through the emails and wait for thier reply. And I cannot imagine what the sellers are dealing with all the complaints and questions.

 

I believe that with Paypal you can setup a store to control your inventory but I suspect it has a cost.

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I have missed a coin in the past with email ordering in place. I sent the email very early on (10:30am) in the process. My email didn't show up to the seller until 6:40pm that evening. The coins sold out about 1pm. I figured I had easily made the cut but was informed that my email was received well after the cutoff time. I suspect it wasn't a problem on my end because 4 or 5 other people commented in the forum that they had the same problem.

 

I don't know what the answer is. I liked the EBay solution, but you add another layer of someone to get their proverbial 'fingers in the pie' and it ends up costing more money from either the buyer (higher cost) or the seller (lower profit) or possibly both. But then again, if PayPal can do a limited number sell, but it costs more money, what's the difference? If the Georgia coin sale broke PayPal couldn't it also break EBay?

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people need to lighten up...geocoins are trinkets to be enjoyed, traded, bought, sold, and even {{{GASP}}} left in (and retrieved from) caches...

 

I think that first come first served is a simple way for coin makers to sell their coins. A lottery would always be plagued by people whining about preferential treatment. I think at the end of the day, any way that the coin maker wants to sell their coin is OK with me.

 

I recently sold 1000 coins, offering coins first to friends, next to members of local groups, and then to the broader geocaching public...that may not be "fair" but it was the way I wanted to do it, and they were mine!

 

jamie

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Another point to make that several people have mentioned here. I connect at home on a 24K dialup. I have never connected at anything faster than 26.6K. I made the cut on the Georgia Peach coin, although I'm not sure if I was in the overflow crowd or not. I got a Geoghost by being on time, watching for the post (which was on time by the way), and ordering as fast as I could. I was in the middle of that group and I was connected at 21k that day.

 

So when I hear that a dial up connection excludes you from getting any of the LE or limited number of coins, I say you have to learn to type faster because you can get those coins on a dialup.

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Wow, I must admit that I had no idea that there so much debate over this. I actually tried yesterday for my first coin (Ontario) and did not know anything, I actually thought it would be some sort of form to fill out.

 

I almost missed out on the sale, since I completely forgot about it waking up from the Event cache the day before. I was at the gate with all the others and waited while refreshing the page once in a while, and then the time came and what do I see? Just an email, euhhh, what do I do now? I think I wasted at least 30 seconds thinking of what to do, and then I just type my wish list and my name.

 

After noticing all the frantic posts afterwards I was sure I had only the bronze, but no I had my full order, gold, silver and bronze.

 

So maybe it’s just me, but is it really that hard to get in the first 100 or was I really that lucky? And if emails do get lost and come in late once in a while, doesn’t that happen to anybody and therefore make it even more fair for all?

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Why? What's wrong with 'first-come, first-served'?

Because not everyone lives on these fourms. The Geoghost coin actually started selling and was sold out before the posted time of the sales. The LIGO coin came up for sale on Thanksgiving day without any warning After a four hour drive to my brothers that day I was lucky just to get some of the bronze.

THe Georgia Peach was sold out even before I could get to the page as I don't have a high speed connection.

Why not just put them up for auction and let the highest bidders have them. I would rather see the maker of the coin get the higher price rather than some greedy coin hound who gets them just to sell them on EBAY.

The GeoGhost coin started selling exactly on time. I know because I was in the forum hitting F5 repeatedly until the post came up. If you are going to complain at least have the facts straight.

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Why? What's wrong with 'first-come, first-served'?

Because not everyone lives on these fourms. The Geoghost coin actually started selling and was sold out before the posted time of the sales. The LIGO coin came up for sale on Thanksgiving day without any warning After a four hour drive to my brothers that day I was lucky just to get some of the bronze.

THe Georgia Peach was sold out even before I could get to the page as I don't have a high speed connection.

Why not just put them up for auction and let the highest bidders have them. I would rather see the maker of the coin get the higher price rather than some greedy coin hound who gets them just to sell them on EBAY.

Coins that are trackable on geocaching.com are prohibited from being sold at higher than cost. If you auction them off for more then you will lose the GC numbers that you paid $1.50 per coin to have. They will simply delete those numbers and the coins won't be able to be activated or tracked.

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Why? What's wrong with 'first-come, first-served'?

Because not everyone lives on these fourms. The Geoghost coin actually started selling and was sold out before the posted time of the sales. The LIGO coin came up for sale on Thanksgiving day without any warning After a four hour drive to my brothers that day I was lucky just to get some of the bronze.

THe Georgia Peach was sold out even before I could get to the page as I don't have a high speed connection.

Why not just put them up for auction and let the highest bidders have them. I would rather see the maker of the coin get the higher price rather than some greedy coin hound who gets them just to sell them on EBAY.

Coins that are trackable on geocaching.com are prohibited from being sold at higher than cost. If you auction them off for more then you will lose the GC numbers that you paid $1.50 per coin to have. They will simply delete those numbers and the coins won't be able to be activated or tracked.

Not so. Only if the logo is on the coin and you don't sell excessive quantities. After talking to the guy at Groundspeak on the phone about this a couple of months ago, he said there is no problem selling a trackable coin for profit with the exception of the PC coins. This is the reason I decided to go with the HC codes for the Holiday Coins instead of the PC code.

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