Coins For Profit?

1.3k · January 16, 2006

(stepping up on the soap box)

The following was a quote in another post.

Nothing against the person that made it, because the sentiments have been spoken by a few others here at one time or another.

Just using it as a springboard for this discussion.

Again, "Nothing against the person that made it."

People are starting to make 1000's of dollars making a coin I think.

Make 1000 coins sell them for 10- you've got 10 grand! WOW!

I have read this or something similar on more than one occasion lately.

And frankly I don't understand why they think that.

Sure the person or company rakes in 1000's of dollars selling the coins. But that by no means is "pure profit".

Using the springboard example above you get $10,000 for making 1000 coins.

UNTIL you write the checks for the cost of the coins, shipping supplies, actual shipping charges(from the factory & "also" to the buyer), & payment to Groundspeak for the tracking numbers & icon.

Just because someone charges a few bucks over the cost of the coins doesn't mean that it is all going in their bank accounts to stay!

I've also read a few complaints about a comment made by someone that they added a bit for their time and the cost of the programs to design the coins.

So someone feels that providing everyone a "collectable" coin and the time involved to do that is of value to them and that they feel they need to be compensated for it. GOOD FOR THEM!!

This happens everyday in the real world. It's called "BUSINESS"!

We can call this whatever we want to call it, but providing a service & product for a fee is pure and simple "BUSINESS".

Just because we choose to keep the prices at wholesale levels to make it affordable for everyone that wants to take part is great for all of us.

I feel greatful that I can afford to buy such quality pieces of "collectable" art.

And in stating that brings me to my next point, these coins that we are plunking down our hard earned cash for are "Collectables".

And a D*MN good deal we are getting on them too!

In retrospect to other types of collectables that are sold & traded everyday.

Beanie Babies, Neo-Pets, Trading cards for every sport known to man, Trading cards for movies, Trading Cards for video games, Hot Wheels, Harry Potter Figurines, Elvis Picture Plates, Gone With The Wind Music Boxes, ... the list goes on & on!!

Do you actually think that they are being sold for pennies of profit over their actual cost to make them?

I just saw an ad in a magazine today for a polished plated gold coin depicting a Disney character.(Looked suspiciously JUST LIKE the coins we make sell & buy here everyday!)

Cost for "ONE" coin = $49.95 + shipping and handling!!

Sure it came in a blue velvet lined pressed cardboard box, but I can gurantee you that the box was NOT worth any where near $39.95 (Using the outrageous cost of a $10 coin that folks are complaining about)

SORRY! But wake up and smell the coffee folks!

We are creating and selling "collectable" items here.

Limited production runs of personalized coins.

If we were to go by the everyday business formula of supply & demand with true to life markups that everday business owners uses to make a profit, then we should be paying double or even triple the cost of what they are being sold for here.

And that's just for normal everyday products. Try walking into a true "collectables" business and you will soon realize "We got it GOOD!!"

So the next time you see a coin for sale that you think is overpriced, pass it by.

Those of us that don't mind spending a few extra pennies over the cost of production and shipping of a product that we consider a true "collectable" will be there to step up and enjoy a beautiful crafted piece of art!

D-man

(stepping down now)

3.1k · January 16, 2006

I do not have any problem paying any amount as long as it is what I wanted. No one is forcing anyone to have a complete geocoin collection.

But I also think the people putting out the coins should say what it is. A for profit business. Nothing is wrong with that.

The cat coin cost a little more than others we have bought, but I got them because I wanted them. Also when he was questioned about why the price was higher, he answered honestly. I saw the thread about getting paid for the design and time involved in making the coins and the OP was slammed (for the most part) for thinking that. Well look at the price and the design and buy or don't, most likely someone will be right behind you to buy the coins you did not want.

Yes most all other 'collectables' cost more than the less that $10 you can spend here, but they are available on a much larger scale and the market allows for the inflated prices, not so here in the geocoin community, it would appear.

Other markets are not getting direct feedback from the customers like here. It is easier to charge more to the faceless, nameless public than it is to make a buck off people you 'talk' with reguarly, apperantly. But there should be nothing wrong with making a buck off geocoins sold here. But you should be upfront that is your goal, to make $$$.

I guess the moral is just buy what you like/want and be happy about it. If people think your coin costs too much oh well, someone won't. If you are creative and can do it then make a few coins to sell to everyone, its the American way. If you think coins cost too much thats ok too, the next one will be right in your budget.

Edited January 16, 2006 by ParentsofSAM

24.7k · January 16, 2006

Then again. Make a 5.00 coin and sell it for 8.00. Sell 1000 of those and do it 10 times... That's 30,000.

My paycheck doesn't stay in my bank account either.

Making money selling coins isn't right, or wrong, but we do get to have an opinion on it and my opinion is that I'd like geocoins to be by cachers for cachers and I'd be happy if there were no more than signature and organization coins. When it becomes for the money, then it falls short of my definition and to be blunt I'd like to know when it is about the money so I can avoid spending it on something that isnt' what I think it is. If a for profit coin is cool, I'd get it knowing it's for profit and that would be fine.

Edited January 16, 2006 by Renegade Knight

24.7k · January 16, 2006

Commercial Caches are banned and geocachers agree. Are commercial geocoins really geocoins?

Ironilcy I don't mind ebay, that coins are collected, don't travel, are traded virtually etc. It's the source of coins that I'm interested in.

Edited January 16, 2006 by Renegade Knight

January 16, 2006

I really don't see a problem with how expensive a coin is or how it's sold unless it's trackable with a unique icon. If it has a unique icon, it seems to me that it then becomes a game piece for the game of Geocaching. I think that it's detrimental to the sport to price players out of the market or have a coin sold in such a way that players don't have at least one fair chance to get one without being subjected to extortion-like prices. I think Groundspeak would do the game a service to create a rule along the lines that any trackable geocoin with a unique icon has to have an advertised public sale of a minimum of 500 (?) coins at a not to exceed price of $8 (or maybe even $10 or $12).

For non-trackable coins, if someone wants to create a solid gold coin encrusted with diamonds for $20,000 per coin, that's fine by me.

January 16, 2006

ok, I'll add my 2 cents.

I don't like people making a profit and saying that they should be compensated for their time.

The reason they design the coins should be because of The LOVE OF THE GAME and THE SPIRIT OF GEOCACHING.

I also hope people dont buy the higher priced ones because if they do then the prices will continue to climb. It is only when the price reaches a point where people refuse to buy and vote with their wallets will prices drop.

While I dont want to see GC place price restrictions, I think any coin that bears their logo should have to post their invoice on the preorder thread.

Edited January 16, 2006 by elmosmelmo

2.8k · January 16, 2006

If you're gonna sell it via these forums then it shouldn't be a for profit enterprise thinly disguised as doing good for the community.

January 16, 2006

I sure don't understand how anyone could have a problem with someone making a profit from geocoins or geocaching. You cannot make a profit over the long term without adding something to the sport. It's simple economic law.

You may beable to game the system and skin a few bucks off your fellow cachers in the short term. That's made possible my demand exceeding supply at what most would call "reasonable" prices. In a free market, the response is that people start coming out with more and more coins. Eventually, the market will reach equalibrium at a lower price level.

If you're watching Ebay, you'll see that this is already begining to happen. Coins are down broadly, with a few select editions holding their value. This is a good thing. Prices are the way the market communicates.

Freedom, Liberty and Capitalism work if we let them.

Having said that, I'd add a few things about coins for profit (and I don't mean Organization coins where they're raising a few bucks for the organization or personal coins where the profit is taken in coins for trade). If you're making money on a coin, it's not right that you expect your buyers to finance it for you (it violates Paypal rules in fact). If you sell a coin for a mark up, YOU should be fronting the money The coins should be shipped shortly after the buyer hits the Paypal button. If you're doing this you are running a BUSINESS and should act like it. I'll cut a lot of slack on personal coins and organization coins that are a volunteer effort, but if you're doing if for profit, act like a proffesional for goodness sake. Make your offer easy to understand and your website easy to use. Make me feel like a valued customer, not just a rummy you're skinning a few bucks off of.

January 16, 2006

Im the one that made the initial comment of 1000 coins=10 grand

I just went to OAK and did a price quote on a 1000 coin order with 4 colors on each side, 2D, with tracking at Groundspeak...maxed it out by adding a custom icon too. Total for 1000 coins is $3290.

Let's do the math together shall we

1000 gold coins...............................1200.00

die with color..................................140.00

tracking Groundspeak 1.50 each.......1500.00

Custom Icon...................................150.00

Shipping coin to me..........................300.00

Grand total for a maxed out coin. 3290.00

paypal fees 11.50=.63 x 1000............630.00

bubble mailers on ebay 1000=............81.40

Total cost after fees and cost.........4001.40

Lets see profit:

$10x1000 coins............................10000.00

Production & shipping Costs............4001.40

Total Profit...Yipee..........................5998.60

Like I said Thousands of dollars profit. I CAN NOT WAIT TO MAKE A COIN NOW!!!!!!!!!!

The only thing I left out is labels and printer ink so hey take off another 50. bucks and thats being generous..profit 5948.60. WOW

I also left out the cost to ship because the customer pays for that and we all know its starting to be 3.50..and it only cost .63 cents to mail one..so add in another 2000. grand profit or more.

Edited January 16, 2006 by WeatherednBoston

January 16, 2006

p.s. I will continue to buy the coins I like for 10- plus shipping. I'm all for Capitalism and not shooting anyone down for making a buck. Just pointing out the profit margin on some of these coins. I'm always thinking about ways to make money and I drool at the profit ....

I for one sell designer jeans on ebay..I buy them for 1.- a pair at salvation army and sell em for 50.- to 200- used all the time. Cha Ching. I think I can make much more money making coins though. I certainly dont pull in 1000's a month.

January 16, 2006

$1,000's of dollars??? Where do I sign up?!?!

As a member of Those Coin Guys, who has created, minted, sold and distributed numerous coins, I can attest that this statement is not true (but I sure wish it was!)

If we make any profit (and by defining profit means above $200), it all goes to buying shipping supplies (bubble envelopes, tape, ink, labels, etc.), paying paypal fees, etc.

$1,000's??? A boy could dream...

-TP

January 16, 2006

You all can make big money with Geocoins,

but you must not forget...coin-collectors are not millionaires!

I have no money to pay every day $10 USD for coins.

Please don't go over the top!

1.3k · January 16, 2006

Im the one that made the initial comment of 1000 coins=10 grand

I just went to OAK and did a price quote on a 1000 coin order with 4 colors on each side, 2D, with tracking at Groundspeak...maxed it out by adding a custom icon too. Total for 1000 coins is $3290.

Let's do the math together shall we

1000 gold coins...............................1200.00

die with color..................................140.00

tracking Groundspeak 1.50 each.......1500.00

Custom Icon...................................150.00

Shipping coin to me..........................300.00

Grand total for a maxed out coin. 3290.00

paypal fees 11.50=.63 x 1000............630.00

bubble mailers on ebay 1000=............81.40

Total cost after fees and cost.........4001.40

Lets see profit:

$10x1000 coins............................10000.00

Production & shipping Costs............4001.40

Total Profit...Yipee..........................5998.60

Like I said Thousands of dollars profit. I CAN NOT WAIT TO MAKE A COIN NOW!!!!!!!!!!

The only thing I left out is labels and printer ink so hey take off another 50. bucks and thats being generous..profit 5948.60. WOW

I also left out the cost to ship because the customer pays for that and we all know its starting to be 3.50..and it only cost .63 cents to mail one..so add in another 2000. grand profit or more.

OK? :lol:

Not to burst your bubble, BUT...

The pricing from Oakcoins that your using is for a "limited time special" that they have arranged through the factory.

AND most of the coins being produced on this level....

Least expensive metal, 2-D art, no more than 4 colors, No specail features (ie: custom shapes, 3-D)

... are NOT being sold for $10 a piece.

Average pricing on them are running on average from $5 low - $8 high each.

Throw in the cost for all the extra features and standard pricing for the coins that are being sold at the $10 a piece rate and I'm sure you see very quickly that there is very little profit (if any) is being made.

D-man

( Just to restate it, I did not use the quote by you as a personal attack on you, but only as a springboard for this discussion. )

1k · January 16, 2006

OK?

Not to burst your bubble, BUT...

The pricing from Oakcoins that your using is for a "limited time special" that they have arranged through the factory.

AND most of the coins being produced on this level....

Least expensive metal, 2-D art, no more than 4 colors, No specail features (ie: custom shapes, 3-D)

... are NOT being sold for $10 a piece.

Average pricing on them are running on average from $5 low - $8 high each.

Throw in the cost for all the extra features and standard pricing for the coins that are being sold at the $10 a piece rate and I'm sure you see very quickly that there is very little profit (if any) is being made.

D-man

( Just to restate it, I did not use the quote by you as a personal attack on you, but only as a springboard for this discussion. )

I have a non-special price sheet from them (requested it afew weeks ago) and for the 1.5 and 1 5/8" coins, there is only a .01/coin increase to after sale pricing for 1000 coins.

I also ran what would be considered a very elaborate design through the pricing...

1 5/8" 4mm thick

Antique gold

2 3-d dies

12 colors on the front, 6 back

laser etching (6 char)

epoxy coated

tracking with icon

and that comes to a total of 4.96/coin. (4.97 after the sale is over)

Now at selling it at $10 each (that has alot more features than the several coins I've seen listed at that price) that is $5/coin inflation... ok, factor in .17 for mailer, 1.01 for postage (well padded 3oz with paypal shipping which adds .14 for delivery conf), .60 for paypal fee, that is over $3 PROFIT per coin sold if you included shipping in your $10 price (many aren't) and then if someone buys more than one, its nearly another $1 for you for each extra coin bought.

so... $3000+

make it a 1.75" coin.... after sale price expires... 5.77/coin cost. $2000+ profit

January 16, 2006

Throw in the cost for all the extra features and standard pricing for the coins that are being sold at the $10 a piece rate and I'm sure you see very quickly that there is very little profit (if any) is being made.

Hear hear! I have to agree - if a coin is going for 10$ it generally means that it was a fairly pricey coin to produce. The TikiCoins I make involve a LOT of labor and time on my end to produce, as well as a lot of supplies/raw materials. I was hesitant to charge the 10$ fee for them, but after looking over my invested costs I felt it was the only way to go. As a rule, I think that the more expensive coins on this forum generally justify their cost (via unique designs, 3D artwork, etc..).

And thats my 2 cents! :lol:

Tiki

1k · January 16, 2006

I'm sure it does cost you quite abit more than the typical coin minting price for you to make yours. And I find that a fully acceptable price for your Tikicoins.

3.5k · January 16, 2006

I don't have a problem with people making a profit as I've made a few dollars off coins myself. What I don't like is price gouging - $3.30 to ship one 4oz coin is not reasonable. People are obvioulsy paying the price and so it will continue.

January 16, 2006

I don't have a problem with people making a profit as I've made a few dollars off coins myself. What I don't like is price gouging - $3.30 to ship one 4oz coin is not reasonable. People are obvioulsy paying the price and so it will continue.

I saw one coin that was charging 3.33 for shipping, and then heard the place handling the sale charges 2.00 handling fee per coin. So the actual shipping would be 1.33, which is pretty reasonable. I guess if the handling fee was added to the coin and not the shipping it would be easier to swallow :lol:

1k · January 16, 2006

I don't have a problem with people making a profit as I've made a few dollars off coins myself. What I don't like is price gouging - $3.30 to ship one 4oz coin is not reasonable. People are obvioulsy paying the price and so it will continue.

I saw one coin that was charging 3.33 for shipping, and then heard the place handling the sale charges 2.00 handling fee per coin. So the actual shipping would be 1.33, which is pretty reasonable. I guess if the handling fee was added to the coin and not the shipping it would be easier to swallow

One place I know charges $2 per Order, not per coin.

so if you order 2 coins... its $1/coin added

4 coins... .50/coin etc.

but I think they also limit an order to 10 coins (but allow multiple orders)

I would rather the per order charge than a per coin charge. Just like I prefer not to have the shipping costs added to the coin itself if there isn't a discount for multiple coins purchased.

January 16, 2006

I don't have a problem with people making a profit as I've made a few dollars off coins myself. What I don't like is price gouging - $3.30 to ship one 4oz coin is not reasonable. People are obvioulsy paying the price and so it will continue.

I saw one coin that was charging 3.33 for shipping, and then heard the place handling the sale charges 2.00 handling fee per coin. So the actual shipping would be 1.33, which is pretty reasonable. I guess if the handling fee was added to the coin and not the shipping it would be easier to swallow

One place I know charges $2 per Order, not per coin.

so if you order 2 coins... its $1/coin added

4 coins... .50/coin etc.

but I think they also limit an order to 10 coins (but allow multiple orders)

I would rather the per order charge than a per coin charge. Just like I prefer not to have the shipping costs added to the coin itself if there isn't a discount for multiple coins purchased.

You are right. The one I was talking about does charge per order.

2.6k · January 16, 2006

Who is selling a trackable coin for $5.00?

1k · January 16, 2006

I don't know about $5 yet... but there should be some at $6 soon...

1.3k · January 16, 2006

Who is selling a trackable coin for $5.00?

USA Geocoins

Order your Official USA Geocoin now! USA Geocoins are only $4.99 each.

Did you know that USA Geocoins are designed, minted, and manufactured in the USA?

Track your coins at Groundspeak.com,. just like Travel Bugs.

:grin:

Edited January 16, 2006 by gridlox

January 16, 2006

This thread is exactly the reason I made my coins, pocketed the cost myself and have them for trade only.

There's just something about putting out a personal coin and selling it that I dont' feel comfortable with. I can understand an organization doing it because it's a great way to make some money to support their activities. Heck, I've bought a few in my time. Making a personal coin and selling it for a profit however, just doesn't seem right.

Realize that this is just my personal opinion and I don't expect everyone to think like I do.

1k · January 16, 2006

This thread is exactly the reason I made my coins, pocketed the cost myself and have them for trade only.

There's just something about putting out a personal coin and selling it that I dont' feel comfortable with. I can understand an organization doing it because it's a great way to make some money to support their activities. Heck, I've bought a few in my time. Making a personal coin and selling it for a profit however, just doesn't seem right.

Realize that this is just my personal opinion and I don't expect everyone to think like I do.

I agree that there is just something that doesn't feel quite right about selling a personal coin to the public.

I also see no problems with the organizations doing it. In fact I would love to be able to buy all of the regional group coins :grin:

January 16, 2006

Saw this on another site. This is full price...I figured many people only order 500 coins. They are more expensive that way. These are for bronze

Let's do the math shall we :grin: ( I miss my accounting job...laid off currently..why else whould I have time to do this lol)

TRACKABLE + PERSONAL ICON

500 - 1.5 inch bronze coins

Color on both sides & numbering

500 Tracking numbers from Groundspeak™

Personal GC.com Tracking icon

All die fees and shipping included

$2330.00 - Delivered

Coin Cost for 500 ..........................2330.00

paypal fees 11.50=.63 x 500............315.00

bubble mailers on ebay 1000=............41.70

Total cost and supplies....................2686.70

Lets see profit:

$10x500 coins............................5000.00

Production & shipping Costs............2686.70

Total Profit...Yipee.........................$2313.30

Still enough for a 1 week paid vacation to Hawaii! Perhaps we can all make a coin and meet up in Hawaii for a coin trading event! I'm game!

Edited January 16, 2006 by WeatherednBoston

January 16, 2006

I have been lurking here over the weekend. I have read this thread and wonder why does it matter who makes what. My 1st cache find had a coin, I thought it was interesting so I came here to see what it was all about. I do not see how people are not making money off coins. I went to the one site with the work up sheet and used the a coin I found for sale on a webpage for an example. The coin is selling for $6.75 each plus shipping and handling which is unknow to me since it was not on the webpage but did say it was to be added. There are 1000 coins if all are sold then that is $6750. I could not find a place to add in glow paint on the worksheet (but as long as glow paint is not more that $2 per coin then you have the profit) but just the coin is $3.99 to be minted according to the pricing guide and the sale is apperantly over the site said it was until Jan 15. That is a cost of $3990. So the profit is $2760. So if the PayPal fees are not included in the s&h they would run $195.75 (2.9% x $6750) and $270 (.30 x 900 transactions) these are estimated since the fees would be on the s&h also. That is a total $465.75. Take that out of the profit it leaves you with $2294.25. You can not count the postage or the envelopes or packing materials since that MUST be included in the s&h that's what that charge is for. How can anyone say that they are not profiting? I could not find a pricing guide for other coin mints that are posted in the top thread. So some coins may run more or less than this I do not know.

If it walks like a duck and quacks like a duck then it most likely is a duck. You are fooling yourself if you think people are not profiting on this. You are also fooling everyone else if you are not owning up to profiting off the coin.

January 17, 2006

What are you guys, a bunch of commies? Sheesh. If someone is selling a coin you want to buy, buy it and be happy. If someone is selling a coin you don't want, don't buy it and be happy. If you like to trade coins, trade them. If you like to try to find coins, then go Geocaching.

I hate this "gee, he shouldn't be making money" attitude. If you make a coin, sell it and profit from it, more power to you. And, as far as I am concerned, as long as the buyers are also happy with the product they have purchased, then the more money you make doing it the better. You EARNED it.

if you don't like it move to Cuba or China. Oh wait, a latte from Starbucks is $4 in China, too. That sounds like profiteering to me. Better stick with Cuba.

January 17, 2006

The only thing I find fustrating is an $8.00 coin selling for roughly $22.00 plus $3.00 shipping on ebay. I missed out on many $6.00-$8.00 coins only to have to try and win them for enormous prices on ebay! So if someone wants to part with a Red Handed or Screw coin for a decent price, let me know.

January 17, 2006

Speaking of enormous prices.....

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewI...=ADME:B:SS:US:1

I am truly amazed at the winning bid for this Moun10Bike v.2 coin. Yikes! :grin:

January 17, 2006

Speaking of enormous prices.....

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewI...=ADME:B:SS:US:1

I am truly amazed at the winning bid for this Moun10Bike v.2 coin. Yikes!

well, that pretty much closes this thread!

goodnight everybody! You don't have to go home, but you can't stay here!

January 17, 2006

Why is that?

January 17, 2006

...........the unholy E*** side! :grin:

3.7k · January 17, 2006

Speaking of enormous prices.....

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewI...=ADME:B:SS:US:1

I am truly amazed at the winning bid for this Moun10Bike v.2 coin. Yikes!

oh.my.god. That's more than the v1 sold for! Are these people insane? :lol: It's only a coin! :grin:

9.8k · January 17, 2006

Speaking of enormous prices.....

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewI...=ADME:B:SS:US:1

I am truly amazed at the winning bid for this Moun10Bike v.2 coin. Yikes!

oh.my.god. That's more than the v1 sold for! Are these people insane? It's only a coin!

LOL, we are all insane. Look at us, coveting little pieces of metal :lol:

I watched that one close last night and was like "Wholly S**t!" At that point I still had an extra one of these. I soon finalized the trade of it tho.... Team Fisur will be mine later this week

January 17, 2006

Just out of curiousity, How many of you order pizza?? do you realize that the profit margin on pizza is enormous?? Including all utilities and wages for one large 16 inch pepperoni pizza to be made it costs the shop owner a whopping $2 to make and most places sell them for upwards of $10. So based on all of the opinions on here so far, you are now going to stop ordering pizza too right?? Just wondering.

1.3k · January 17, 2006

Speaking of enormous prices.....

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewI...=ADME:B:SS:US:1

I am truly amazed at the winning bid for this Moun10Bike v.2 coin. Yikes!

well, that pretty much closes this thread!

Not so...

Just goes to prove one of my points.

We are making "collectable" items!!

Limited edition, short run items!!

For the most part, other than a few, once the coins are minted and shipped, "there will be no more exactly like them"!!

I'd be hard pressed to see anyone walk into a true "collectables" business and ask for a limited edition run of any type of "collectable" with 1000 pieces or less in existance and be able to purchase it for under $10 bucks.

I honestly do not see it happening! :lol:

Case in point...

Why do these coins draw such prices on aution sites?

Because the people buying them know they are buying a "collectable".

Why do they bid over and above what some of them can still be bought for on the sites that sold them?

I "assume" it's because they just don't know they are still available at the original purchase price from the original sellers.

You also have to realize not everyone bidding on them are geocachers.

Some are just plain and simple "coin collectors". And are willing to run the price of a limited edition, short run item up , because they see the "possible" value of such a "collectable". :lol:

For the particular coin mentioned above, you not only have an extemely short run of only 200 coins, but also a "plus" factor in that it belongs to the originator of the "Geocoin" = Moun10Bike.

Another factor in the high selling value is the testament of the awesome people that participate in our sport/hobbie/way of life/...

If this had been "just another auction" I honestly think that the coin would have sold at about a 3rd of what the final selling price was.

(But this is just an assumption)

BUT because a fellow cacher was selling it because of a need to cover much needed medical expenses, the community as a whole was willing to bid above and beyond what they normally would "just because it was going to a fellow cacher in need!!"

D-man

January 17, 2006

Just out of curiousity, How many of you order pizza?? do you realize that the profit margin on pizza is enormous?? Including all utilities and wages for one large 16 inch pepperoni pizza to be made it costs the shop owner a whopping $2 to make and most places sell them for upwards of $10. So based on all of the opinions on here so far, you are now going to stop ordering pizza too right?? Just wondering.

I think you missed the point...

That's like ordering a $5.00 special only to find out the promo period was over, but we can now sell you the same $2.00 pizza for $15.00 and $5.00 delivery.

My point is that if it cost $2.00 I'll buy it for $5.00 but don't bait and switch.

Buying an $8.00 coin is fine...but it ending up on ebay for $25.00....that is a problem. But we all seem to buy them anyway, so we probably would with pizza too...especially if it had Moun10bike toppings. :grin:

January 17, 2006

I didnt realize the markup in these coins with that being said there is nothing wrong with a profit, but not all these coins will ever be worth a fraction of a moun10bike coin.

January 17, 2006

Just goes to prove one of my points.

We are making "collectable" items!!

Limited edition, short run items!!

For the most part, other than a few, once the coins are minted and shipped, "there will be no more exactly like them"!!

I'd be hard pressed to see anyone walk into a true "collectables" business and ask for a limited edition run of any type of "collectable" with 1000 pieces or less in existance and be able to purchase it for under $10 bucks.

I honestly do not see it happening!

Case in point...

Why do these coins draw such prices on aution sites?

Because the people buying them know they are buying a "collectable".

Why do they bid over and above what some of them can still be bought for on the sites that sold them?

I "assume" it's because they just don't know they are still available at the original purchase price from the original sellers.

You also have to realize not everyone bidding on them are geocachers.

Some are just plain and simple "coin collectors". And are willing to run the price of a limited edition, short run item up , because they see the "possible" value of such a "collectable".

For the particular coin mentioned above, you not only have an extemely short run of only 200 coins, but also a "plus" factor in that it belongs to the originator of the "Geocoin" = Moun10Bike.

Another factor in the high selling value is the testament of the awesome people that participate in our sport/hobbie/way of life/...

If this had been "just another auction" I honestly think that the coin would have sold at about a 3rd of what the final selling price was.

(But this is just an assumption)

BUT because a fellow cacher was selling it because of a need to cover much needed medical expenses, the community as a whole was willing to bid above and beyond what they normally would "just because it was going to a fellow cacher in need!!"

D-man

I've been sitting here for about half an hour trying to decide if I wanted to respond in this thread. D-man has finally inspired me to give it a go.

I'm the insane individual who bought the Moun10Bike coin. I've been accused (rightfully so) of having more money than sense. And for those keeping track, I'm also the one that bought Indy Diver's #99, and the last pdxmarathonman charity auction.

A little about me:

I'm a relatively new geocacher here in Maine waiting for the thaw. I've only been caching since September and have a relatively low 79 finds. My goal is to get 150 by the first of March and I've got some time in Florida in February that should end up making a serious dent in my goal. I've been tromping through the snow and sweating like a pig and I'm having a ball. I've got a GPS sticker on the back of my car and I've got my GPS with me wherever I travel.

I'm also geocoin addicted. I found out about geocoins through the Maine geocoin sale and met some wonderful people in the process. I've only been collecting since December 10 and I'm still learning the ropes. I have a wonderful collection mostly purchased and a few trades (http://cointracking.com/public/kayakerinme - contact me!). I'll be the first to admit I've been a little carried away and I've made more than a couple of mistakes. I only found out about the forum at the beginning of this month and I've been lurking for a couple of weeks.

I have found the geocaching community here in Maine to be a great bunch of people. I've also cached in San Francisco and got wonderful suggestions and help with some caches out there.

Back to the coin:

My bid was driven much higher by a couple of other bidders. But it was still worth it anyway. As gridlox pointed out, this was a fellow cacher who made a hard choice to sell the coin rather than hold on to it (remember kilted cacaher and his dilemma? drawing any parallels?) and I made a decision to go above and beyond what would normally be called for - simply because it was a fellow cacher in need.

Insane - no! Crazy - maybe. Addicted - definitely!

Speaking simply for myself, I appreciate the opportunity to purchase coins. I've been in on most purchases over the last month simply because I don't have a personal coin to trade - though that will change in the next couple of months. And I will give some the opportunity to purchase if they choose, and others the opportunity to trade, and others the opportunity to ignore me. But that's a topic for another thread.

Thanks for reading this all and I hope it makes sense. Remember, I'm still playing catch up with those of you at this for years :lol:

Regards, kayakerinme

9.8k · January 17, 2006

I'm the insane individual who bought the Moun10Bike coin. I've been accused (rightfully so) of having more money than sense. And for those keeping track, I'm also the one that bought Indy Diver's #99, and the last pdxmarathonman charity auction.

Hey there, welcome to the addiction! You've emassed quite a collection in the last 8-10 weeks!

January 17, 2006

Welcome Kayakerinme! WHAT A HUGE MASSIVE COLLECTION OF COINS!!!! I will never catch up lol. Anytime you want a partner in crime I would love to go caching with you just to lay my eyes on the bike! Hold it in my hand and just go :grin: :lol:

So glad to know one of thoses bikes will call New England home is wonderful. Even if it sits in a personal collection...we all know it would disapear in a cache.

I wont calculate the profit margin on that one single coin lol.

Happy Caching!

Edited January 17, 2006 by WeatherednBoston

January 17, 2006

Welcome Kayakerinme! Anytime you want a partner in crime I would love to go caching with you just to lay my eyes on the bike! Hold it in my hand and just go

So glad to know one of thoses bikes will call New England home is wonderful. Even if it sits in a personal collection...we all know it would disapear in a cache.

I wont calculate the profit margin on that one single coin lol.

Happy Caching!

I can always be cajoled into attending an event :lol: and I do want to go caching in MA sometime this spring... so I'm sure it can be arranged. GA Cacher too it to many events and it has many logs and a great history. I'll be doing the same, as time permits.

-kayakerinme

January 17, 2006

Well...I plan on throwing an event this summer at Mt Monadnock in NH. The area is littered with caches and its my favorite place to go caching. I would be honored with your presence.

I have retired caching for the winter. It's just too cold and I have no luck finding caches in the snow. (I have tried) I too am a new cacher and started at the end of August. I found 246 in 3 months. When I found my first geocoin it was Love at first sight! I was so glad to find these forums as well.

Hope to cache with you some day! Here in Mass or up at an event!

2.6k · January 17, 2006

kayakerinme: please be advised that I can be adopted and that I am potty trained. <_<

January 17, 2006

kayakerinme: please be advised that I can be adopted and that I am potty trained.

Got proof? references? <_< I've got 2 teenage boys so you'll have to be really special!

2.8k · January 17, 2006

For those complaining about Ebay "prices". The selling price is set by the 2 highest bidders. I hope that kayakerinme doesn't get mad at me for saying this - but as he mentioned he won the auction for my most recent charity auction. He wasn't happy with the final selling price of about $90. He wanted to win coin MM07 which required a bid quite a bit higher. His maximum bid was high enough, but nobody else bid high enough to force the higher selling price.

Two points I am trying to make here -

1st) It takes more than one person willing to pay whatever price a coin eventually sells for, so as much as we may not like it, it's a true test of a free market.

2nd) kayakerinme is a great guy. He arranged to qualify to win coin MM07 <_<

24.7k · January 17, 2006

Just out of curiousity, How many of you order pizza?? do you realize that the profit margin on pizza is enormous?? Including all utilities and wages for one large 16 inch pepperoni pizza to be made it costs the shop owner a whopping $2 to make and most places sell them for upwards of $10. So based on all of the opinions on here so far, you are now going to stop ordering pizza too right?? Just wondering.

If you invite me over to your house and make me a pizza you better not charge me like you were Pizza Hut. The beer I brought with me should be enough.

Geocoins are not pizza. But to use your anology, when I go to Pizza Hut I am ready to spend my money on a Pizza Hut Pizza. Commercial Coins should be clearly identified as commercial coins. Anthing sold for a profit is commercial by defintion.

I'm talking fresh Pizza and Fresh Coins. Now when that Pizza in the shape of Elvis hits eBay, that's another thing entirly.

3.1k · January 17, 2006

What Renegade Knight said....when I buy pizza I am fully aware that they are out to make money off me, maybe lots of it. But that is ok I still want the pizza, I'm hungry!

Coins sellers should do the same. Do not claim you are only profiting a negligible amount and that you only do it for the good of the hobby. Just come right out and say that this is for profit. I will still buy because I want the coins, I'm hungry um I mean addicted!

BTW -- I will take 2 Elvis Shaped Pizza Coins! :anibad:

Coins For Profit?

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