The Current Market Relating To Geocoins

[Blodlizrd]

I have heard from a few people that the current market for geocoins has declined somewhat in the past few months. It's hard to believe when you look at the geocoin store having so many coins for sale. I know I personally have had to cut back on ordering and stopped reading the forums on a daily basis as I was accustomed to doing, but what is everyone else's opinion of the state of geocoins at present?

 

Have you found yourself cutting back? If you were a "gotta collect 'em all" person, are you applying filters to what you will and won't buy now? If so, what are the filters? Is the market flooded with too many new coins and not enough spending power among the consumers?

 

I'm really interested in this kind of market research so let me know what you think.

 

Thanks!

[+501_Gang]

I've cut way back after getting ripped off by WYlostinMA and the Wyoming coin.

Edited April 5, 2006 by 501_Gang

[+GA Cacher]

I've cut way back after getting ripped off by WYlostinMA and the Wyoming coin.

 

I only collect Icon coins, that is my niche.

 

In reference to the WY coin, If you order from someone who has a proven track record I don't see how the Wy coins would reflect on then.

[+Cryptid]

I started out collecting just the personal coins, then had to "collect them all". I've had to cut back on buying. With about 10 new coins coming out a week and I hear there are about 100 more "in the works" I couldn't keep up, or more like my wallet couldn't. I now just trade, using the extra coins I had purchased, and my personal coin.

I do think the market is flooded with coins, and some of them I can't find the Geocaching connection, where will it end? Day of the week coins? Scratch and sniff coins?

I feel people should be able to make any coin they want, and I'm sure people will buy them, that's the beauty of free enterprise, but how many can the hobby support?

I just wonder if TPTB will end up putting a stop to it?

 

 

 

Edited cause I couldn't see all the type O's till I posted it.

Edited April 5, 2006 by Cruiserdude

[+graylling]

I think the market has already had enough and it's showing. There used to be a time when any coin coming out for sale was snapped up in a matter of minutes. Now I take a look at the geocoin store and there are a number of coins there. Some of which have been on sale over a week. People are definitely getting a lot pickier about what they buy and are taking a second look at forking over 10+ bucks any coin that comes out.

[+SunshineGang]

IMO

 

High Prices + Low supply = Strong Market

Low Prices + High Supply = Strong Market

Low Prices + Low Supply = Weak/dying market

 

 

the market is still there and very strong. I think some are cutting back and some are just starting out. Supply is at an all time high and that is pushing prices down. there was day when people were selling out a run of 100 or 300 coins in hours or days because they were the only ones selling a coin that day or that week.

 

the market will adjust... people will keep buying and trading.

 

 

Some have compared geocoins to beane babies. Remember those? I Don't think that is a good comparison. I am sure that the coin craze will die down over the next year or two. but I think geocoins will be produced for years to come. Mainly because the are linked to geocaching. there will be a contiunous supply of cachers that want to be imortalized on thier very own coin. I think the minters will be making money off geocoins for a long time. but the profit margins for cachers selling thier own coin will dry up. A year from now if you make a personal geocoin it will not be easy to make a large profit selling it.

Edited April 5, 2006 by SunshineGang

[Dancingfool]

I really miss the personal coins that are numbered but not trackable. I was putting some new coins in my binder today and realized that is what has been missing lately. It is sad that GS killed them. There does not seem to be another forum that supports them. Most of my favorite coins are not trackable and as such are not allowed to be promoted here.

[+SunshineGang]

I don't think that GS killed them by banning the promotion of them here.

 

Personally I origanlly made a Non trackable coin because GC would not sell me tracking numbers for a personal coin. Or if they did I had to buy a large quanity and trade or sell at cost. I could not afford to do that so I made a non trackable.

 

there are still plenty of ways to sell and promote a non trackable coin. while this forum was by far the best I think someone could find other cointracking type sites to promote thier sale adequately.

[+Renegade Knight]

The gotta have them all phase is past. People are all starting to pick and choose. What's gone are the days when some random cacher can come on the board and say "gee, I found this game two weeks ago and like these coins and so I made 500 and you can buy them now" and have them sell out quickly.

 

What's happened is that there are more coins than buyers right now so while every coin sells, a lot of them sell less than they would have only a few (one?) months ago.

 

ICE has dropped every catagory except for State and Country Coins. Before ICE did that most members had already done that with their allocations.

[+HerrK & Friends]

I started out collecting just the personal coins, then had to "collect them all". I've had to cut back on buying. With about 10 new coins coming out a week and I hear there are about 100 more "in the works" I couldn't keep up, or more like my wallet couldn't. I now just trade, using the extra coins I had purchased, and my personal coin.

I do think the market is flooded with coins, and some of them I can't find the Geocaching connection, where will it end? Day of the week coins? Scratch and sniff coins?

I feel people should be able to make any coin they want, and I'm sure people will buy them, that's the beauty of free enterprise, but how many can the hobby support?

 

Ditto...specially the bold text!

[+robert]

I don't think it's so much of cutting back as it's not buying everything that's out. For example:

 

Month A: 10 coins come out, buy 10 coins

Month B: 20 coins come out, buy 15

Month C: 35 coins come out, buy 10-15

 

As you can see the % is less, but the quantity is about the same... for me anyway. Though admittedly my 10 is now about 5-6 but it's just because I'm overwhelmed with everything out I don't know where to begin anymore. And my own coin doesn't help any

[+Cornerstone4]

I don't think that GS killed them by banning the promotion of them here.

 

Personally I origanlly made a Non trackable coin because GC would not sell me tracking numbers for a personal coin. Or if they did I had to buy a large quanity and trade or sell at cost. I could not afford to do that so I made a non trackable.

 

there are still plenty of ways to sell and promote a non trackable coin. while this forum was by far the best I think someone could find other cointracking type sites to promote thier sale adequately.

 

Things have changed.

 

Pocket books are stretched thin, and a lot of us are being much more selective.

 

4-5 months ago, I released the "Screw Geocoins" as a joke, and sold out on a 1000 piece run. Last month, we made 1000 of the Temecula Valley Event coins, and we are still sitting on 300 of them...

 

Things have changed.

[+geolands]

We've cut back, alot. We used try to buy every one of them, but soon realized that the more that came out, the less attractive they were. I mean some are just plain BORING. Especially the ones with generic GC back. Nowadays, in my opinion, there are about 1 or 2 out of 10 that have a unique design worth investing in. So instead of 10 , we buy 1 or 2!

 

Plus lately, I'm so afraid that the actual coin is not as nice as the picture posted. I was so disappointed in one coin we purchased I traded them immediately!!

[+ventura_kids]

I finally created my personal geocoin... sort of.

I am not good at creating nor designing, nor selling, so I joined with 3 rather obsessed cachers to help me work thru the coin stuff.

We ended up with a set of 4 coins with a common back (and a logo).

 

The Obsessed Collection

 

I don't really like the state ones, nor the park ones, the association ones, nor the club ones. I like the creative personal ones. I've run out and picked up the ones nearby just to log the cute little icons. I quickly drop them off again. I know cachers get excited when they find a coin in a cache. Sometimes I don't log them in . I am amazed at the creativity of some of the coins. (I also buy the non-profit, or for a cause type ones)

 

It seems that the market now has so many coins available, that cachers can't afford all of them anymore.

 

I'm looking forward to the next geocaching fad

[+The Blind Acorn]

I've cut way back on which I'm buying. Unlike many people here, I like personal coins and will buy them from the cacher. I'm getting a bit tired of randomly related coins... not so sure I will continue buying countries...I mean what is the likelihood I'll ever go to Portugal? States, I will continue to support but I hope that most will have something on them to reflect the state itself. I really like the Mississippi coin and just received the Louisiana coin today - it is also very nice.

 

I'm leaning towards shaped coins more now that anything. I think they are very creative and offer a conversation starter quality (Caching for the season is a good example!)

 

As for so many coins coming out, oh well. I can be select in what I buy and I figure someone out there must like it and will buy. Nonetheless, I am openly admitting right now that my personal coins will be out soon, and I hope to be able to sell them (no need to flame me for doing so - I've read it here many times...) I will be posting more information on them in the weeks to come. (I've fronted the money and will wait until they are in my house before I ever start making them available - I too was/am disgusted by the coins that have been sold months ago and never arrived...)

 

I think the market will go down as the weather gets nicer, who's going to be inside trolling the forums when there are caches to find!!! We'll see....

Edited April 6, 2006 by The Blind Acorn

[+Marky]

I really miss the personal coins that are numbered but not trackable.

We still have some of our numbered personal coins available for trade.

 

--Marky

[+AtlantaGal]

I've become selective of what I will BUY, and I trade for the rest when I can.

 

The market for selling most personal coins is dying. I say "most" because there are a few shining gems in the lot. However, as a trend I soon see the day where personal coins minted at 500 pieces or more will not sell well at all, and those sellers will just have to pay for their own coins from now on if they want to have one.

 

As far as other coins, the market has shrunk. Minting less of event and general caching coins will become the norm. Well designed country, state and organization coins will still continue to do well though.

 

There is a steady influx of newer collectors daily though and I do see that trend continuing on a selective buy basis. It's this factor that contributes greatly to the secondary market and reselling of older issue coins.

[Not So Lost Puppies]

IMO

 

High Prices + Low supply = Strong Market

Low Prices + High Supply = Strong Market

Low Prices + Low Supply = Weak/dying market

 

 

IMO:

 

High Prices + Low supply = OK Market

Low Prices + High Supply = OK Market

Low Prices + Low Supply = Great market

 

and You missed the big one going on right now...

High Prices + High supply = very weak/dying market.

 

Demand fits into that as well... and IMO:

 

State Organization = High demand

Signature (personal) coin = moderate to low demand

geocaching related = moderate demand

non geocaching related = low demand

non organizational state/region = moderate to low demand

 

Design will adjust any of those up or down.

 

I think that the extra $2 charge ontop of the coin price and shipping is also becoming a factor for low quantity collectors. That $7 coin becomes $10+. big change from $7.50 including shipping that we used to see in the forums. I guess that is what happens when geocoins become a business instead of a hobby.

 

I've pretty much stopped most all my coin buying about two months ago. I'm also thinking about getting rid of most of the non-personal and non-organization coins. Just trying to decide how to best do that. I know that some of them will get released as travellers, but I have lots of duplicates still. Some I'll keep to use to trade for future organization coins, or those that I really like.

 

As many know, I've never been on to really buy personal coins. (I think I've bought two total) Nor really ask to trade for them unless there is a common link there. (brewing, wolves, woodworking, etc.)

Edited April 6, 2006 by Not So Lost Puppies

[+fox-and-the-hound]

I think the market is still strong, but the with so many choices available only the best are still selling out quickly. I've seen several new coins recently disappear in a flash while others in various stores are still hanging out and waiting. Strong designs with strong ties to caching are still going to move I think. We'll always buy personals (more so than any others) because of the people they represent, but a good, strong design is still key. Kind of like cars, they're all very shiny when they're new, but the quality and good designs will stick around for a long time. You might try a thread to see if there is interest in your design to help you decide. Personally, I've seen one side and know I'd be in for a few

[+Eartha]

I feel people should be able to make any coin they want, and I'm sure people will buy them, that's the beauty of free enterprise, but how many can the hobby support?

I just wonder if TPTB will end up putting a stop to it?

 

FYI: Groundspeak does not control what people wish to do with their own money on their own time. If someone wants to make a coin, so be it. It's not up to Groundspeak who can or cannot make a coin. All they do is provide tracking numbers so people can follow their coins around, and provide you witha discussion forum. We do not control your lives and what you do with them.

 

Supply and demand will take care of the coin market. It just took off so fast that everyone jumped on the bandwagon. When the wagon gets too full, people fall off. Some hang on. Some hang on for dear life. Others drive the wagon. And then there's the horse, I don't know where the horse comes in. Maybe TPTB are just the horse pulling the cart. I'm not an anologist after all.

[Not So Lost Puppies]

I feel people should be able to make any coin they want, and I'm sure people will buy them, that's the beauty of free enterprise, but how many can the hobby support?

I just wonder if TPTB will end up putting a stop to it?

 

FYI: Groundspeak does not control what people wish to do with their own money on their own time. If someone wants to make a coin, so be it. It's not up to Groundspeak who can or cannot make a coin. All they do is provide tracking numbers so people can follow their coins around, and provide you witha discussion forum. We do not control your lives and what you do with them.

 

Supply and demand will take care of the coin market. It just took off so fast that everyone jumped on the bandwagon. When the wagon gets too full, people fall off. Some hang on. Some hang on for dear life. Others drive the wagon. And then there's the horse, I don't know where the horse comes in. Maybe TPTB are just the horse pulling the cart. I'm not an anologist after all.

 

I would say that the buyers are the horse Too many people (coins being made) on the wagon slows down the horses because it gets much heavier. It still moves forward, just not as fast as it once did.

 

How is that for extending your analogy?

[+Cryptid]

I feel people should be able to make any coin they want, and I'm sure people will buy them, that's the beauty of free enterprise, but how many can the hobby support?

I just wonder if TPTB will end up putting a stop to it?

 

FYI: Groundspeak does not control what people wish to do with their own money on their own time. If someone wants to make a coin, so be it. It's not up to Groundspeak who can or cannot make a coin. All they do is provide tracking numbers so people can follow their coins around, and provide you witha discussion forum. We do not control your lives and what you do with them.

 

I didn't mean TPTB would ban Coins, I meant they might stop allowing new Icons. as it is the ICON SP page is quite long. ICON SP It hink it's cool, and I want them all, but $$ is holding me back.

OK, here's a new idea, how about Personal Icons for TBs. There could be a minimum tag purchase to get one, (please, not 500) like 50 or so. What do you say?

[Phantom_Dog]

I feel people should be able to make any coin they want, and I'm sure people will buy them, that's the beauty of free enterprise, but how many can the hobby support?

I just wonder if TPTB will end up putting a stop to it?

 

FYI: Groundspeak does not control what people wish to do with their own money on their own time. If someone wants to make a coin, so be it. It's not up to Groundspeak who can or cannot make a coin. All they do is provide tracking numbers so people can follow their coins around, and provide you witha discussion forum. We do not control your lives and what you do with them.

 

Supply and demand will take care of the coin market. It just took off so fast that everyone jumped on the bandwagon. When the wagon gets too full, people fall off. Some hang on. Some hang on for dear life. Others drive the wagon. And then there's the horse, I don't know where the horse comes in. Maybe TPTB are just the horse pulling the cart. I'm not an anologist after all.

 

I would say that the buyers are the horse Too many people (coins being made) on the wagon slows down the horses because it gets much heavier. It still moves forward, just not as fast as it once did.

 

How is that for extending your analogy?

The cart may have hit a skunk or two along the way.

 

Is there a cartoonist in the house to keep track of all this?

[+SunshineGang]

The cart may have hit a skunk or two along the way.

 

Is there a cartoonist in the house to keep track of all this?

 

what is the skunk suppose to represent?

[+budd-rdc]

The market is DEFINITELY cooling off. Supply/demand principles are driven by psychology, and the change in tone on how people react to new coins being released is a sign of this.

 

Besides the saturation of # of coins, keep an eye out for saturation of creativity. The jaded Geocoin community is demanding simplicity more and more since cool/new design ideas are running out.

 

For people pondering on how to get rid of their extras, caches are waiting.

[YemonYime]

I think we all at one time wanted to see more choices, so we've all pretty much got our wish now. The problem is that we've seen a few significant things occur that have put a real dent into our buying enthusiasm.

 

Speaking for myself, I'll say that the first thing that greatly affected the way I collect geocoins, was not necessarily the rising prices, but the issue of rising prices vs. quality. I've seen more and more instances of geocoins being manufactured poorly lately, and I'm being much more selective of what I buy, and from whom I buy it from.

 

Secondly, we've now witnessed some serious issues regarding missing or greatly delayed coin orders. Some are still ongoing, and that's greatly affected the "trust factor" that once allowed coins to flow so freely through these forums.

 

I still enjoy geocoin collecting, but I'm much more conscious of quality and dependability nowadays.

[+tokencollector]

what is the skunk suppose to represent?

 

My guess would be this thread - http://forums.Groundspeak.com/GC/index.php?showtopic=125089

 

(Ooops - i forgot to add the thread link, I wasn't referring to THIS thread)

Edited April 6, 2006 by tokencollector

[Blodlizrd]

Thanks for all the input, folks... and keep em comin'. The Geocoin Store has told me that they are not fronting the money for all the coins they do anymore. Only in certian cases do they do the upfront thing and even then it is not usually the full amount.

 

I like the fact that the market is demanding quality coins... I know I always have. Pushes people to really think about what they are making... but uncertianty of market reaction could also cause people to shy away from producing something that could be a great coin.

[Not So Lost Puppies]

Thanks for all the input, folks... and keep em comin'. The Geocoin Store has told me that they are not fronting the money for all the coins they do anymore. Only in certian cases do they do the upfront thing and even then it is not usually the full amount.

 

That will likely substantially cut down on the number of coins coming to market starting in the next couple months. Once the existing fronted contracts have been fulfilled. But it sounds like there may be quite alot of coins that were already in the pipeline.

[+zygote2k]

Now is the time for cachers to be creative and good art will sell. There has to be a direct tie in to the hobby/sport or people won't buy them as often. If you make smaller batches of high-quality coins, the market will stay strong. If you make large batches of irrelevant coins, the market will slow down. Remember- be creative.

[+Kealia]

...I like the fact that the market is demanding quality coins... I know I always have. Pushes people to really think about what they are making...

 

Not sure I agree with this. I've seen a lot of what I think of as sub-standard and/or non caching related coins selling lately. (Then again I think a lot of the "there are only a few left" and "thanks for all the purchases" posts are BS).

 

What really saddens me is that everybody now refers to the Geocoin market - highlighting the fact that it has become a business and is viewed as such by the majority. In my eyes the shift to referring to this as a "market" is what has brought the downfall. It's the latest make some quick money scheme and it's taken a lot of the fun out of coins for me. So why do I stay in the forums when I buy so little and like so few coins now? For the (now) rare coin that represents something that is well done.

 

I've been working on the 3rd Edition of the Canine Coin just this past week after deciding a while ago to NOT do it. I've had a hard time getting excited about it partly because there are at least 2 other dog coins now that I can think about. I'm again, not excited about doing it and not sure if I will. Maybe I'll start a new thread for it - but then again, maybe I won't...

 

Anyway, most people who frequent these boards know where I stand in terms of coins today.

[+IceCreamMan]

As a former stock broker, I'm fascinated by this aspect of Geocoins. It is probably the think that has drawn me to collecting more than any other. You could probably substitute "Equities" or "bonds" for "coins" in some of the posts above and found similar things said on the pages of the financial press about the financial markets at any given time. This is not surprising, since all the movements that have occured in the coin market have occured at one time or another in the real market.

 

Is the party over? Unlikely. Supply has outpaced demand (which by the way is still VERY strong), causing a glut, but that will most likely be resolved by the disapearance of the free lunch deals. Saying it's a sign of the end is like saying "No one goes there anymore because it's too crowded". In the long run, this will likely result in a few number of new cons, but of higher quality. Just has happens in the IPO market after a decline.

 

Personaly, I'm buying fewer coins than a couple months ago, but still way more than a year ago (which was zero). When I could afford to buy them all, because the number of new coins was lower, I'd buy at least three of everything. One to keep, one to release (if trackable) and one to trade. I quit buying the one to trade, unless I thought it would be a particulary hard to get issue. Lately, I've quit buying the one one to keep unless there is something about the coin that makes me want to have it in my collection. I'm still hoping to buy or trade for every trackable coin so I can release at least one of each.

 

My favorite coins are still those that are not sold, but only available for trade.

[+bob393]

I can't believe how many new coins are released each week.

I started out buying anything and everything that was for sale, not any more.

Now I buy just what I like or what I need to complete a set.

Some of the new stuff is really ugly and expensive. Why would you want it?

Personal coins are cool, especially if you get it as a trade from the owner!

So are state coins. I collect lighthouses so I will buy anything with a lighthouse on it.

 

I started out buying five of each; one for my personal collection, one to release, one to trade, and two to sell on eBay. I stopped buying the three to sell on eBay and I’m ready to stop the one for trade. So yah I’ve cut back.

 

Just a thought!

[+WalruZ]

As an outlying reference point, consider what I'm doing...

 

I don't collect coins. I don't even touch them. (my wife does, but we need not go there.)

 

I buy about 20 or so of significant local coins when I can. They are typically a pretty good deal.

 

I intend to keep them for some time - probably a few years - and then start using them as FTF prizes. I'm assuming that by then they will be quite desirable, and I'll have a great FTF prize for new caches that only originally cost $3-$5.