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Additional Costs To Geocoins.


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check eBay and other online sources for the bubble envelopes - it will be much cheaper than buying them at an office supply store. Cost should be somewhere between 25 and 50 cents

 

PayPal fees (if you accept credit card payments) are $0.35 per transaction plus 3% of the total price.

 

Postage - 1 coin in a small bubble envelope sent within the US is $0.63. Two coins will be $0.84.

 

Cost to mail to Canada for one coin is less than $1

 

Cost to mail overseas for one coin is $2-3.00 I think. If you are mailing more than 3 coins at once to someone overseas, then it's cheaper to go with Global Priority Mail which is a flat rate of $5

 

Insurance and tracking cost extra if you want those services.

 

You may also want to consider the cost of mailing labels, if you don't want to hand write all the envelopes.

 

As you are probably aware, if you want tracking numbers it's $1.50/coin. A unique icon is $150 extra.

 

I think that covers all the extra costs you might incur.

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You can purchase #0 padded mailers at Sam's club, they are about .18 each in boxes of 25. If you don't over do the packing materials and tape, you can get one of most coins in at 1.9oz

 

As for postage, if you are taking paypal payments then you can also ship directly from within paypal. It will cost you an extra .14 cents for required electronic delivery conf (.60 if you request normal delivery conf from the post office counter) but it might an extra measure of delivery safety.

Paypal will print a shipping label with postage, just tape it (or glue it) to the envelope and drop it in a drop box, Or request FREE pickup of them from your regular carrier.

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Heres a rough breakdown of my expenses above and beyond the invoice for minting the coins. I minted 500 and sold 350 coins.

 

paypal fees = $210.00

Shipping materials = $72.00

postage = $298.00

 

tracking numbers = $750.00

icon = $150.00

 

total of extra costs = $1480.00

 

I also invested substantial time once the coins arrived. Between packaging and stuffing mailers, sorting and matching activation codes to coin holders, filling out customs forms and waiting at the post office, I spent over 16 hours closing out this project.

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Thanks so much Junglehair, Not so lost Puppies and Bad Andy, that's exactly the type of info I needed. Ya know if someone took the time to make up a book about geocoins, minting them, metals etc. basically eferything invovled in getting your own coin, it could probably turn a pretty profit! For fun, make it GC trackable with it's own icon even! In all seriousness though, the links at the top of the forum don't give nearly enough information for the newbie geocoinaholic. There are so many questions I still have but in all honesty am usually afraid to ask here. I bet others have questions too but feel intimidated. A really good "How to" would make the process so much easier!

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I know I saw a post that broke this all down but I can't seem to find it. What other costs should I take into consideration outside of the cost of minting?

For shipping I go to USPS.

 

Prices vary due to your own indiviual needs. Some don't pay for coins, icons, and envelopes purchased via USPS. Envelopes w/ bubbles can be purchase at Walmart, labeling can be done on disk labels. Sometime online postage is more expensive than at the post office.

Edited by The Fraher Family
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Thanks so much Junglehair, Not so lost Puppies and Bad Andy, that's exactly the type of info I needed. Ya know if someone took the time to make up a book about geocoins, minting them, metals etc. basically eferything invovled in getting your own coin, it could probably turn a pretty profit! For fun, make it GC trackable with it's own icon even! In all seriousness though, the links at the top of the forum don't give nearly enough information for the newbie geocoinaholic. There are so many questions I still have but in all honesty am usually afraid to ask here. I bet others have questions too but feel intimidated. A really good "How to" would make the process so much easier!

:ph34r: Please feel free to email with all and any questions!

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Maybe I missed but unless you're a good artist you'll need a designer as well. Some minters have an artisit on staff but I used a free-lance artist and he did a great job for a minimal fee plus one coin.

 

We have our own geocoin coming out soon with it's own custom icon and trackable on geocaching.com. I'll post here when it will be available.

 

Later

Mr & Mrs. Loggerhead

My Webpage :huh:

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