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Virginia Geocoin


zygote2k
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I read this thread, even noticed that is was from when I was buying coins months ago before I quit buying for a while and focused on my US Mint coin collection that had been neglected (I had posted an interest then).

 

I noticed the thread was closed and happened to click on the profile of the person who started and closed the thread (dcsteve72). He hasn't looged into gc.com since July 16, 2005 and has only found 3 caches since May 1, 2004.

 

IMHO this would be enough to assume the project abandonded if someone else wants to take up the project.

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I am willing to take up this project if a few others would like to venture some time and capital. I believe this project will cost about $3500 for a first run of 300 coins with the "Virginia Geocoin" icon and be fully numbered and trackable on GC.com

 

The only capital you need is from the pre-sale you do. You could have this project paid for and funded by those purchasing. The only thing that you are going to be out is your time.

 

And of course yes, I would be interested in purchasing a few.

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I am willing to take up this project if a few others would like to venture some time and capital. I believe this project will cost about $3500 for a first run of 300 coins with the "Virginia Geocoin" icon and be fully numbered and trackable on GC.com

Whoa, that's over $11 a coin.

 

Of course I didn't bother doing the math at the time but indeed it wouldn't hurt to work on getting that price down by $3.00 to $4.00 :anitongue: .

The average coin non LE, GC trackable should run around $6.50 to $7.50 a coin, of course we all know where the trend is going, within months we may be paying $11.00 per coin, for no reason might I add!!

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I am willing to take up this project if a few others would like to venture some time and capital. I believe this project will cost about $3500 for a first run of 300 coins with the "Virginia Geocoin" icon and be fully numbered and trackable on GC.com

But i thought you need aminimum of 1000 state coins for an own icon

and $3.500 for 300 trackable coins...................!?!? :anitongue:

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Maybe my figuring is off... I read a coin site that said a unique icon is available from Groundspeak with the purchase of 1500 coin tracking #'s @$1.50 per coin plus $150 for the icon. I assumed that just because you have to pay for 1500 #'s doesn't mean you have to mint 1500 coins. The same site also lists 300 coins with custom colors and dies for $1000. This comes to approx. $3500. I am by no means experienced in this venture, but am willing to put a substantial amount of capital towards this project.

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Maybe my figuring is off... I read a coin site that said a unique icon is available from Groundspeak with the purchase of 1500 coin tracking #'s @$1.50 per coin plus $150 for the icon. I assumed that just because you have to pay for 1500 #'s doesn't mean you have to mint 1500 coins. The same site also lists 300 coins with custom colors and dies for $1000. This comes to approx. $3500. I am by no means experienced in this venture, but am willing to put a substantial amount of capital towards this project.

gc.com has lowered their requirements. You only need to purchase 1,000 numbers @ $1.50 each plus the $150 for the unique icon.

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I assumed that just because you have to pay for 1500 #'s doesn't mean you have to mint 1500 coins.

If you are doing a minting of 300 I don't think Groundspeak will give you 1000 numbers, They have to see and approve the artwork for all coins that will use their numbers. You don't have to use the 1000 all for the same coin design but you have to have all designs approved before they will issue any of the numbers.

 

Most state coin mintings are more than 300 coins, it's the personal coins and special series that usually have such low mintings.

 

As far as capital, most people don't mind preordering and fronting the money once the artwork has been provided.

 

It sounds like there is another group considering this, maybe you should email them and see if you can work together on something.

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Granted, if you were to make a 300 coin run initially the per coin cost would be pricey. The biggest cost is the tracking #'s and icon, so maybe you could do several different designs for the Virginia Geocoin and save overall on the cost of the coins and tracking

300 coins is too small a run anyway. 1000 trackable coins with a custom icon will sell with no trouble at all.

Edited by AtlantaGal
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as was said previously; several designs compromising a total of 1000 coins to be presented for approval. Maybe 4x250, one for each season in Virginia.

It sounds like you're setting up to charge the costs of 1000 tracking numbers and the icon to the first 250-300 coins. If that is the case then the subsequent issues of coins should be really cheap :ph34r: In that case, I'd like to set up a trade for the first coin and purchase 4 each of the following releases :lol:

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No, thats not what I'm trying to accomplish. I'm trying to find interest in creation of the coin and how much venture capital is required to fund this project. I assume that you can't just presale it and use the funds generated to pay for itself. What happens if the presale falls short and you're already committed to 1000? Otherwise anyone can just offer up any new icon coin with little effort and money involved.

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What happens if the presale falls short and you're already committed to 1000?

You're new here, aren't you? :ph34r:

 

You'll have no problem selling 1000 coins*. We bought 2000 when we did it (but we were right at the beginning, if not the first to have it, of the custom icon) so 1000 these days is a given.

 

*with icon and tracking. Without, I'm not so sure.

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I assume that you can't just presale it and use the funds generated to pay for itself.

People do this all the time, with just the artwork posted.

 

What happens if the presale falls short and you're already committed to 1000?

If you fall short, then make up the difference. If it is a decent design with it's own icon, you will have no problem selling them all, believe me.

 

--Marky

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IF you all would be patient. There is a group of us in VA that are planning to get together after the holidays to work on a VA 2006 coin. Please allow us time to get our thoughts and plans together!!! It is an expensive investment when there is no "statewide" organization working towards the goal.

 

:ph34r:

 

Thanks... Happy Holidays!

 

Jen

Sounds like rather than stepping on toes Zygote should contact her and find out more about what they are working on and see if they can work together.

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IF you all would be patient.  There is a group of us in VA that are planning to get together after the holidays to work on a VA 2006 coin.  Please allow us time to get our thoughts and plans together!!!  It is an expensive investment when there is no "statewide" organization working towards the goal. 

 

:ph34r:

 

Thanks... Happy Holidays!

 

Jen

Sounds like rather than stepping on toes Zygote should contact her and find out more about what they are working on and see if they can work together.

I Agree

Edited by AtlantaGal
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There are many cachers now who have produced 2, 3 or more coins on thier own. I'm sure many of them would be happy to help advise you and steer you clear of the pitfalls. The nice thing about our hobby is that people are still willing to share and help. Take a look in the forums at the people producing coins and talk to a few of them. That will help you get a better understanding of the whole coin production process and you can decide how to proceed from there.

 

T1

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There are many cachers now who have produced 2, 3 or more coins on thier own. I'm sure many of them would be happy to help advise you and steer you clear of the pitfalls. The nice thing about our hobby is that people are still willing to share and help. Take a look in the forums at the people producing coins and talk to a few of them. That will help you get a better understanding of the whole coin production process and you can decide how to proceed from there.

 

T1

You could start right here. How many coins have you done now, T1? ;)

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<chuckles> 4 coins, three different series (GA 2005, GA 2006 {Peach and Stone Mountain} and Ontario) and a couple in the pipeline (oops, was that out loud) ;)

 

Actually I have a vested interest in VA and WV coins, since I have lived in both places and visit there several times a year. Ask away, if I can't answer I know there are others that could.

 

T1

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IF you all would be patient.  There is a group of us in VA that are planning to get together after the holidays to work on a VA 2006 coin.  Please allow us time to get our thoughts and plans together!!!  It is an expensive investment when there is no "statewide" organization working towards the goal. 

 

;)

 

Thanks... Happy Holidays!

 

Jen

Sounds like rather than stepping on toes Zygote should contact her and find out more about what they are working on and see if they can work together.

My thoughts exactly.

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