Who wants to Buy a Geocoin?

[+eagsc7]

Here it is. Before I go and send them out on eBay...

I have a bunch of the Spokane Cache Machine 2 Geocoins for sale. They are 12.00 each(plus 5.00 S&H). If you buy more than 4, Shipping is FREE!!! All coins are Unopened, Non-circulated coins that are Trackable on Geocaching.com.

Some Major Benchmarks for the Cache Machine are:

• First Cache Machine with Over 200 Participants
  
• First Cache Machine to go and achieve over 100 caches in a day
  
• First Cache Machine to HAVE A TRACKABLE GEOCOIN
  
• First Cache Machine to have a night Route(50 caches done AT NIGHT!)
  

And Here is the Look of the Coin!!!

To Order, Go HERE!!! or E-mail me directly!

 

The Steaks

Hosts of the Spokane Cache Machine 2

Edited May 15, 2007 by eagsc7

[+AtlantaGal]

How many were made? What metal finish are the coins? What size are the coins?

[avroair]

Curious why the shipping is $5.00? Typical shipping is $2.00-$3.00

[+Map Monkey]

Apart from not understanding what a Cache Machine is , i would say ebay it is with that price

 

mm

[+eagsc7]

The Cache Machine Listing page isHere. A Cache Machine is where a large group of people get together for the sole fact of getting Geocaches. The 'Event' as listed on the webpage is the Dinner to culminate the Day portion of the route.

 

There were 250 Coins made. All have a Polished Brass finish and are 42 mm(1.75 in) in size.

 

Shipping is $5.00 due to the fact that I will be shipping these Anywhere in the world. Another reason is that the price of Gas and shipping has gone up (again...)

 

Also, when they go up on eBay, the starting price will be $12.00.

 

 

The Steaks

[+Rubiconlwb]

I have to agree, for $12.00 + $5.00 s/h you definitely need to deal with e-bay. I was born at night, but it wasn't last night!

[+ArtieD]

Isn't 42mm less than 1.75"?

 

Either way, I'll pass. One, that is awful high for a coin and two, even though gas has went up, it still doesn't cost that much to ship.

 

You have to be making a decent amount of money on shipping if you're going to ship more than four coins for free...

Edited May 15, 2007 by Arthur & Trillian

[+AtlantaGal]

42mm is 1.62"

 

If it were 48mm then it would be 1.75"

[+eagsc7]

Actually, I don't make any money on these. The Reason that shipping is Free if you buy more than 4 is that I am willing to take a small hit for those that are willing to buy more than 4 coins.

 

Sorry for the confusion on the size. It is a 42 mm coin(1.62").

 

I do realize that the price is a little high, BUT the cost for getting the coin done was 9.77 per coin. The other 2$ goes to the Inland Empire Chapter of the WSGA.

 

The Steaks

[+ArtieD]

I do realize that the price is a little high, BUT the cost for getting the coin done was 9.77 per coin. The other 2$ goes to the Inland Empire Chapter of the WSGA.

 

That sounds awfully high for the size and kind of coin you have.

[+AtlantaGal]

I do realize that the price is a little high, BUT the cost for getting the coin done was 9.77 per coin. The other 2$ goes to the Inland Empire Chapter of the WSGA.

 

That sounds awfully high for the size and kind of coin you have.

 

I agree. Who minted them for you?

[+The Moop Along]

Holy Moses! $9.77, I want a share of that company. I think they must have used precious metal as the base slug.

[+Damenace]

I do realize that the price is a little high, BUT the cost for getting the coin done was 9.77 per coin. The other 2$ goes to the Inland Empire Chapter of the WSGA.

 

That sounds awfully high for the size and kind of coin you have.

 

I tend to agree with this. One or two things is happening here 1) You where over charged, and if this was the case I would be filing a complaint with the mint 2) The truth is being stretched to justify the sale of a $17.00 coin

[ParentsofSAM]

Holy Moses! $9.77, I want a share of that company. I think they must have used precious metal as the base slug.

 

Well my if I can get those kinda prices I better open a geocoin minting company FAST!! Maybe TMA can be my partner...lol

 

Really these coins should have been less than $6.00 to do. You may be able to sell them at $12.00 including shipping....but really more like $10.00 shipped. Then you would be sold out in no time!

 

The postage is in NO WAY costing you $5.00! That is outrageous. Even with the new higher postage rates.

 

The coin looks nice but not $17.00 nice.....thanks but no.

[+geoSquid]

Actually, I don't make any money on these. The Reason that shipping is Free if you buy more than 4 is that I am willing to take a small hit for those that are willing to buy more than 4 coins.

 

Sorry for the confusion on the size. It is a 42 mm coin(1.62").

 

I do realize that the price is a little high, BUT the cost for getting the coin done was 9.77 per coin. The other 2$ goes to the Inland Empire Chapter of the WSGA.

 

The Steaks

 

If the coin isn't free, people are going to complain about the price. You don't have to justify your price to anyone here. I would suggest that you ask for the thread to be locked.

 

They cost what they cost. People can buy them, or not, as they choose... but if you leave the thread open you're going to see very little but "no way it cost that much" and "I don't think you should make any money".

[+nicolo]

I have to agree, for $12.00 + $5.00 s/h you definitely need to deal with e-bay. I was born at night, but it wasn't last night!

Agreed, a bit too pricey for me. $5 shipping, yikes. I won't pay $5 to ship a coin ( or two ) to Arizona.

[+nicolo]

...

Really these coins should have been less than $6.00 to do. You may be able to sell them at $12.00 including shipping....but really more like $10.00 shipped. Then you would be sold out in no time!

...

 

Exactly. I was JUST going to post that if they cost $8, shipping not included, I'd buy 3 coins. At the current price, I'll buy 0 coins.

[+nicolo]

...

If the coin isn't free, people are going to complain about the price. You don't have to justify your price to anyone here. I would suggest that you ask for the thread to be locked.

 

They cost what they cost. People can buy them, or not, as they choose... but if you leave the thread open you're going to see very little but "no way it cost that much" and "I don't think you should make any money".

Hey, it's called feedback, welcome to reality. He's selling a product. We as potential consumers have a right to comment.

[+ArtieD]

Actually, I don't make any money on these. The Reason that shipping is Free if you buy more than 4 is that I am willing to take a small hit for those that are willing to buy more than 4 coins.

 

Sorry for the confusion on the size. It is a 42 mm coin(1.62").

 

I do realize that the price is a little high, BUT the cost for getting the coin done was 9.77 per coin. The other 2$ goes to the Inland Empire Chapter of the WSGA.

 

The Steaks

 

If the coin isn't free, people are going to complain about the price. You don't have to justify your price to anyone here. I would suggest that you ask for the thread to be locked.

 

They cost what they cost. People can buy them, or not, as they choose... but if you leave the thread open you're going to see very little but "no way it cost that much" and "I don't think you should make any money".

 

You miss the point entirely...unless that coin has precious metal in it, there's no way that thing cost as much to mint as they say it did. Like someone else said, either this person got screwed on minting costs or they are just trying to justify the high price.

 

You make some really unfounded and sweeping generalizations about coin buyers, too. When a coin is worth a bit more, people willingly pay the price...IF the coin is actually worth that much. This coin isn't. You're in the wrong for making that statement.

 

There's nothing wrong with making some money off of a coin. Look at it this way....say a coin costs $6 to make...they make 200 of them...they sell them for $8 and sell all the coins made...not only have they still paid for the coins, but they also have made $400 on the venture. That's just for the coin itself...we're not even talking shipping costs.

 

If the seller would be honest about the money issue it may be better received...so far, i doubt they are...I don't know of too many coins that cost almost $10 to make.

 

ETA: Why should the thread be locked? Are you implying that honest opinion should not be in this thread unless it is favorable to the OP?

Edited May 15, 2007 by Arthur & Trillian

[+ArtieD]

Hey, it's called feedback, welcome to reality. He's selling a product. We as potential consumers have a right to comment.

 

Exactly.

[+Damenace]

 

I don't know of too many coins that cost almost $10 to make.

 

I would gladly pay $10.00 for more Tiki Hand Made coins .

[+ArtieD]

 

I don't know of too many coins that cost almost $10 to make.

 

I would gladly pay $10.00 for more Tiki Hand Made coins .

 

Same here.

[+geoSquid]

 

You miss the point entirely...unless that coin has precious metal in it, there's no way that thing cost as much to mint as they say it did. Like someone else said, either this person got screwed on minting costs or they are just trying to justify the high price.

 

No, you miss the point. Nobody should have to justify the price to anyone. He charges what he charges. You may not like the price, but to sit here and second guess what it cost to make is inherently accusatory, and not in the spirit of what this forum is about. Unless one has hard fact (like you've seen his receipts from the mint), then there is no right to post that kind of thing.

 

"I think it's pricey" is fair commentary. "I think it's pricey and think you're trying to rip people off" is not fair commentary.

 

You make some really unfounded and sweeping generalizations about coin buyers, too. When a coin is worth a bit more, people willingly pay the price...IF the coin is actually worth that much. This coin isn't. You're in the wrong for making that statement.

 

No, it's not unfounded. What was a bit unfair was using the word "free", I'll grant you. Look through this forum at any thread regarding a coin costing more than $8.

 

So loud are some of these people that I'm thinking of getting them to do coin projects for me, since there are so many experts who claim can make completely awesome coins for what seems to be song.

 

There's nothing wrong with making some money off of a coin. Look at it this way....say a coin costs $6 to make...they make 200 of them...they sell them for $8 and sell all the coins made...not only have they still paid for the coins, but they also have made $400 on the venture. That's just for the coin itself...we're not even talking shipping costs.

 

They can try to sell 200 of them at $1000 each too... that's nobody's business. Buy the coin, or don't. Analyzing the price with the intent of pointing an accusatory finger at the seller is not fair. It's bordering on defamatory.

 

What's next, are people going to demand audited financial reporting on any coin project?

 

If the seller would be honest about the money issue it may be better received...so far, i doubt they are...I don't know of too many coins that cost almost $10 to make.

 

ETA: Why should the thread be locked? Are you implying that honest opinion should not be in this thread unless it is favorable to the OP?

 

That's the point... the seller shouldn't even have to MENTION the money issue because it's nobody's business. I am not implying anything about honest opinion - I just don't see any. All I see is yet another coin that is being slagged by the usual people.

 

Tell me - why is it so hard to just not buy a coin if you don't want it? Why is it necessary to get some kind of personal dig in?

Edited May 15, 2007 by geoSquid

[+ArtieD]

*sigh*

 

Some people just don't get it.

 

By the way...it *IS* our business when it looks like someone is trying to rip people off.

Edited May 15, 2007 by Arthur & Trillian

[+Rockin Roddy]

EXACTLY A&T!! Kind of a "I'll watch your back" type thing!

 

Price is FAR too high...shipping is outrageous...IMHO!

[+Kealia]

No, you miss the point. Nobody should have to justify the price to anyone. He charges what he charges. You may not like the price, but to sit here and second guess what it cost to make is inherently accusatory, and not in the spirit of what this forum is about. Unless one has hard fact (like you've seen his receipts from the mint), then there is no right to post that kind of thing.

 

"I think it's pricey" is fair commentary. "I think it's pricey and think you're trying to rip people off" is not fair commentary.

 

No, it's not unfounded. What was a bit unfair was using the word "free", I'll grant you. Look through this forum at any thread regarding a coin costing more than $8.

 

So loud are some of these people that I'm thinking of getting them to do coin projects for me, since there are so many experts who claim can make completely awesome coins for what seems to be song.

 

They can try to sell 200 of them at $1000 each too... that's nobody's business. Buy the coin, or don't. Analyzing the price with the intent of pointing an accusatory finger at the seller is not fair. It's bordering on defamatory.

 

What's next, are people going to demand audited financial reporting on any coin project?

 

That's the point... the seller shouldn't even have to MENTION the money issue because it's nobody's business. I am not implying anything about honest opinion - I just don't see any. All I see is yet another coin that is being slagged by the usual people.

 

Tell me - why is it so hard to just not buy a coin if you don't want it? Why is it necessary to get some kind of personal dig in?

 

Edited for brevity.

 

I was excited to buy this coin based on the title (I was born in Spokane) but then I saw the price, too. $17.00 is ridiculous for a coin, sorry.

 

Count me as one of the regulars that will "pile on" in your opinion.

 

This goes back to the basis of the arguments that I always see here - "If you don't have something nice to say....". It doesn't fly here.

 

Basically what we are doing is providing feedback to:

- The seller

- Prospective buyers and newbies that this is more than the normal going rate for a coin

 

This is this community's only form of feedback. Would you suggest that eBay got rid of it's rating system because some people put negative feedback there also? (Serious question)

 

But - I say that if you want to debate this, open a new thread and let others comment on this coin in this thread.

 

And I didn't see any personal attack. If you did, I would suggest that you use the "Report" feature of the forums.

[+Droo]

 

If the coin isn't free, people are going to complain about the price. You don't have to justify your price to anyone here. I would suggest that you ask for the thread to be locked.

 

They cost what they cost. People can buy them, or not, as they choose... but if you leave the thread open you're going to see very little but "no way it cost that much" and "I don't think you should make any money".

 

I don't think so!

 

Freedom of choice and speech goes both ways. The seller can charge what they want but on the forums the buyers have a right to balk when the seller goes out of line!! If you don't like feedback and don't want help selling your coin then take it to Ebay, or create your own website and sales network and do your thing. If you want help selling your product you can't expect it for free.

 

Personally I am not put off by the $12 tag on the coin. It's the $5 s&h I find offensive. Heck I find it offensive on Ebay where they have their auction fees to pay out of that fee. This smacks of a greedy surcharge, period. Good luck with the Ebay sales.

Edited May 16, 2007 by Droo

[+eagsc7]

Due to the Overwelming response, I will lower the Shipping rate to $3 for anyone IN the USA. If it is international, I have to charge $5. I personally Don't like eBay, and don't want to have to take them there to sell if I can prevent it.

 

So that Everyone knows the entire story, The chapter decided to sell them at $9.00 for pre-event orders, $10 at event, and $12 post event. I will bring this up to the others and see IF we can get the price down to $11 plus S&H.

 

The Steaks

[+ArtieD]

Due to the Overwelming response, I will lower the Shipping rate to $3 for anyone IN the USA. If it is international, I have to charge $5. I personally Don't like eBay, and don't want to have to take them there to sell if I can prevent it.

 

So your $17 coin went to $15...such a deal...

 

You still haven't said who made your coins and why they were allegedly so expensive to make. However...just wait...you just said this:

 

So that Everyone knows the entire story, The chapter decided to sell them at $9.00 for pre-event orders, $10 at event, and $12 post event. I will bring this up to the others and see IF we can get the price down to $11 plus S&H.

 

Earlier you said this:

 

I do realize that the price is a little high, BUT the cost for getting the coin done was 9.77 per coin. The other 2$ goes to the Inland Empire Chapter of the WSGA.

 

So you're telling me that presales were being sold at below cost????

Edited May 16, 2007 by Arthur & Trillian

[+Keeper of Maps]

You still haven't said who made your coins and why they were allegedly so expensive to make.

What makes you think that you have a right to know either piece of information?

Edited May 16, 2007 by Keeper of Maps

[+ArtieD]

You still haven't said who made your coins and why they were allegedly so expensive to make.

What makes you think that you have a right to know either piece of information?

 

When people might be getting ripped off, the people have the right to know.

[+Keeper of Maps]

You still haven't said who made your coins and why they were allegedly so expensive to make.

What makes you think that you have a right to know either piece of information?

 

When people might be getting ripped off, the people have the right to know.

No, you have no right to know who made their coins nor the rationale behind their pricing. You do have the right to decide whether the price of the geocoin meets your definition of value-for-money. If it does, you may purchase one. If it doesn't then you don't buy the geocoin. It's that simple.

 

(However, if you read the thread and visit the website mentioned in one of the original messages you'll notice that it appears to be a fund raiser for their group/event.)

[+ArtieD]

(However, if you read the thread and visit the website mentioned in one of the original messages you'll notice that it appears to be a fund raiser for their group/event.)

 

I'm all for fundraisers....but when the coin's cost of minting is questionable at best and then the sale prices mentioned are actually low enough to create a loss...then I become skeptical.

Edited May 16, 2007 by Arthur & Trillian

[+Keeper of Maps]

(However, if you read the thread and visit the website mentioned in one of the original messages you'll notice that it appears to be a fund raiser for their group/event.)

 

I'm all for fundraisers....but when the coin's cost of minting is questionable at best and then the sale prices mentioned are actually low enough to create a loss...then I become skeptical.

Well, look at it this way: They choose to sell slightly below cost prior to the event to the actual organizers/participants in the event (presumably) to build the necessary funds to front the production of the coins. At the event, they sell them for an amount a bit over the cost of the coin with the extra funds going into the overall production costs/cost of the event/organization's operating funds. Post-event, they sell the coins at a premium as a bigger funds raiser. In other words: get in early and you get a real deal; participate in the event and get preferred pricing; don't participate in the event (i.e. don't contribute to helping make the event a success) and you pay a premium.

 

However, the bottom line is still this: If you feel the coin isn't worth your money, then don't buy it. You don't have the right to berate the person because their product is, in your opinion, too expensive.

Edited May 16, 2007 by Keeper of Maps

[+ArtieD]

Well, look at it this way: They choose to sell slightly below cost prior to the event to the actual organizers/participants in the event (presumably) to build the necessary funds to front the production of the coins. At the event, they sell them for an amount a bit over the cost of the coin with the extra funds going into the overall production costs/cost of the event/organization's operating funds. Post-event, they sell the coins at a premium as a bigger funds raiser. In other words: get in early and you get a real deal; participate in the event and get preferred pricing; don't participate in the event (i.e. don't contribute to helping make the event a success) and you pay a premium.

 

However, the bottom line is still this: If you feel the coin isn't worth your money, then don't buy it. You don't have the right to berate the person because their product is, in your opinion, too expensive.

 

Regardless of how they price the coin, the costs quoted for this coin's production is much higher than what is the norm for coins like this. In this very thread people have noted this and asked for more information and nothing has been given. It just seems odd that a $4-6 coin allegedly costs $9.77 to make.

 

ETA: I and others here DO have the right to question when things just don't seem right.

Edited May 16, 2007 by Arthur & Trillian

[+Rockin Roddy]

K of M...the price was mentioned before in the thread and it's WAY up there (almost twice what it should have cost)! If the OP would offer info, we could let them know if they were being ripped off by the minters...but how can one tell if there isn't info being given? That seems a bit "odd" since I'd be more than happy to know if what I was charged was par for the course! It also seemed "odd" that shipping was soooo high! That set off alarms in the group watching this thread.

 

Our coin (we've had two of them made now so I'm FAR from an expert...but I know a bit) cost us WAY less than that...we only had 100 made, so it cost us more in that regard...it's round, about the same size (1.5"), has more color and is trackable. (we're selling them for $8 and that's a fundraiser for our event as well, since this IS an event coin).

 

My personal coin cost much the same as our event coin and it had ALL the bells and whistles (glow in the dark, glitter, unique shape trackable and unique icon). We're selling that right now at $7.50 (I think, it's been on sale for some time now and still hasn't sold out). I'm nowhere near taking a loss as yet on either coin (and who'd be silly enough to??).

 

I'm all for a fundraiser, but I don't wish to fund the entire event with my purchase (too busy spending money to make ours fun for all attending). You want to make a few bucks, offer the coin at a reasonable price, be up front and things should go just fine! I am glad to see the cost of shipping has come down out there though!!

Edited May 16, 2007 by Rockin Roddy

[+Keeper of Maps]

K of M...the price was mentioned before in the thread and it's WAY up there (almost twice what it should have cost)!

It was probably a mistake on the original poster's part to mention his costs. However, there could have been factors people were unaware of that contributed to raising the per coin cost. But, that's really none of our business. The geocoin costs us what he's selling it for. We can accept that and buy it, or reject it and not buy it. We don't have the right to say "you should be selling it for this price".

If the OP would offer info, we could let them know if they were being ripped off by the minters...but how can one tell if there isn't info being given? That seems a bit "odd" since I'd be more than happy to know if what I was charged was par for the course! It also seemed "odd" that shipping was soooo high! That set off alarms in the group watching this thread.

There's nothing they can do at this point if they were charged more than the average by the mint they used. If they produce another geocoin in the future, they can take this into consideration.

 

The S&H might have been a bit high, but the price they quoted for S&H was a fixed fee for 1-3 coins. Administratively, that makes things much easier for the seller and might not be that far off the mark.

 

Our coin (we've had two of them made now so I'm FAR from an expert...but I know a bit) cost us WAY less than that...we only had 100 made, so it cost us more in that regard...it's round, about the same size (1.5"), has more color and is trackable. (we're selling them for $8 and that's a fundraiser for our event as well, since this IS an event coin).

 

My personal coin cost much the same as our event coin and it had ALL the bells and whistles (glow in the dark, glitter, unique shape trackable and unique icon). We're selling that right now at $7.50 (I think, it's been on sale for some time now and still hasn't sold out). I'm nowhere near taking a loss as yet on either coin (and who'd be silly enough to??).

Not that it's any of my business, but do your prices include covering things like your PayPal fees every time you sell a coin?

 

On the topic of taking a loss, I think many geocoin producers don't mind taking a bit of hit because of the prestige of having their own geocoin. I've done three event geocoins with another cacher and we took a hit on the first one because we underestimated some unexpected costs (eg: customs), and roughly broke even on the second. The jury's still out on the third, but we won't be surprised if we're short on it. In our case, we were making geocoins celebrating local event, though since we weren't the organizers of the events we consciously made the decision not to make money off it and pumped some of the revenues from the geocoin back into pins we gave to anyone who showed up at the event, even if they didn't buy a geocoin.

 

However, if we're going to continue the conversation, we really should start a new thread rather than continue hijacking this one.

[+Theseus]

Nice coin but I agree a bit too pricey for me.

 

Since this thread has devolved into one of the usual debates I feel compelled to mention that I wholeheartedly agree with geoSquid and Keeper of Maps. Sure, feedback is okay but it's the owner's coin to charge what he wants. If people will pay $17 (or $15 or whatever) for the coin then more power to him. It must be a desirable coin. If not, well, then the market has spoken.

 

Apologies for perpetuating the hijack.

[+nicolo]

Nice coin but I agree a bit too pricey for me.

 

Since this thread has devolved into one of the usual debates I feel compelled to mention that I wholeheartedly agree with geoSquid and Keeper of Maps. Sure, feedback is okay but it's the owner's coin to charge what he wants. If people will pay $17 (or $15 or whatever) for the coin then more power to him. It must be a desirable coin. If not, well, then the market has spoken.

 

Apologies for perpetuating the hijack.

Well said.

[+Damenace]

 

Earlier you said this:

 

I do realize that the price is a little high, BUT the cost for getting the coin done was 9.77 per coin. The other 2$ goes to the Inland Empire Chapter of the WSGA.

 

So you're telling me that presales were being sold at below cost????

 

Well I have refrained from posting to this thread until I saw how it played out. However it is becoming more and more frequent that someone posts a coin for sale at some outrageous over inflated price.

 

I find it odd that those who out someone are considered the bad guys every time this happens. Is it any more OK for someone to lie about their pricing of a coin that it is for a potential consumer to question the motivation behind the coin? Why can’t the seller just be honest from the very beginning? Who cares what the coin cost to make? Who cares how much profit is going into the sellers pocket?

 

I tend to agree that we can either buy it or not. Where I really have a problem with this is when someone comes in tells us it cost $9.77(?) to mint a coin, then divulge the pricing structure which indicates they where selling the coin below cost!!

 

I would guess that 90% of the people in the forum have either minted a coin or have worked on projects with someone else and knows the true cost to mint a coin. Don’t try to come to the forums and pull wool over our eyes!!!

 

I personally would like to thank Arthur & Trillian for being involved with this one instead of it being me, it is people like this that have the best interest of his fellow coin addicts.

 

This is not the first time someone has been called out and caught in a lie. I highly doubt this will be the last time this occurs. As long some one keeps posting in the forums fictious numbers they will continue to be questioned.

 

So I really have to ask, as consumers do we not have the right to know about the coin and to be informed prior to a purchase? Would it be any different if I commited to a few coins, paid for them then asked the details?

 

As a forum member in good standing I would like to think that all we as for is honesty and perhaps a few questions answered. Is this asking to much?

[+TeamMaddog]

I can see both sides of the debate, but have to agree with the majority on this one. The price is high and I feel we have been lied to. I personally don't care what it cost to mint it. If it did cost that much though, I would only like to know who the minter is so I can avoid them when I do my next coin. I don't think the OP should have to divulge anything other than "this is the price and here is the website. Buy it or don't". When the OP went further by saying "this is the reason" is when the skepticism started on my part. It is a cool coin and if somebody does buy extras I would consider a trade.

[+geoSquid]

 

I would guess that 90% of the people in the forum have either minted a coin or have worked on projects with someone else and knows the true cost to mint a coin. Don’t try to come to the forums and pull wool over our eyes!!!

 

I like most of what you wrote, even if I disagree with a lot of it.

 

From what I've seen, yes, 90% have minted a coin or worked on projects but very few seem to have the slightest idea about the overall cost.

 

Let's assume the mystical $7 to produce trackable and icon'd coin... that's $7 per coin, all in, in the hands of the project leader.

 

If you're selling them, good business sense requires that you have an inventory holdback to cover mail losses, and to cover risk of not selling all the coins. You'll probably want to keep a few for yourself. Let's be nice and say 20%. 20% becomes the maximum profit you can make. Odds are you won't achieve this, but it's theoretically possible. Your $7 coin is now selling at $8.40

 

Since you have to send invoices and collect money somehow you're going to have to suffer paypal fees, or postage and gas to go to the bank if you prefer paper. In the $8 range, paypal fees will run about $0.55, so your coin is now selling at $8.95

 

Flogging pins with that coin too? You'll be looking at $1.50ish on top of that. Your $7 coin is now running over $10, and people are starting to bitch and moan in the forums. Have to eat it on exchange and you're looking at another 3% on that. Start flogging them on ebay in, say, bunches of 10 and you're adding about another 40 cents per coin in listing fees and a similar amount in final value fees, so the $10.50 becomes something like $11.30

 

Yeah, you make a bit of profit if you sell them all (including your holdback), but not nearly enough to finance another project - on a 500 coin run we're talking $700 which is better than a kick in the stones, but isn't going to put you shoulder-to-shoulder with Bill Gates. Realistically, a bunch of your holdback will go to traders who absolutely will not pay for a coin. You could ignore these requests, of course, remembering that each traded coin is a coin "sold" below cost. At the end of the day, you can't spend a geocoin received in trade.

 

Honestly, people coming in here claiming a $7ish coin and so much as breaking even selling them for less than about $10 makes me call BS and tells me they have no clue what they're really putting out financially. There's a whole lot of nickel-and-diming that adds to the price of coins if you're trying to sell a run.

 

And these prices assume a $7 coin - that's nothing fancy, probably small. Get into a short run of large coins and even a basic coin is going to cost a lot more than $7 a pop. All those extra fees, and the final price, go up accordingly.

 

This is why I made a statement in another thread that if your goal is to acquire geocoins, make your own and trade to build up a collection... you'll lose the cost of your coins, but since it's unlikely you'd ever be able to sell enough coins to buy the coins you want to collect, and if you do trade only you won't have to deal with threads like this one where people try to analyze the financials of your project.

 

So I really have to ask, as consumers do we not have the right to know about the coin and to be informed prior to a purchase? Would it be any different if I commited to a few coins, paid for them then asked the details?

 

As a forum member in good standing I would like to think that all we as for is honesty and perhaps a few questions answered. Is this asking to much?

 

No, I don't think the consumer has any right to know the specific financial details of any particular project. Honesty is not too much to ask, but yes, I think some of the questions that do get asked here are wholly over the top. I don't think the average person puts as much analysis into buying a house as some people appear to put into geocoin purchases.

 

An accurate description of the item for sale and its price should be what matters, not the financial situation of the creator. These are geocoins, not stocks.

 

As for shipping, I agree - $5 a coin is too much. But again, no explanation is required. You know it's too much. Anyone can hit www.usps.com and see that it is too much. Really, what needs to be said about it?

Edited May 16, 2007 by geoSquid

[+Kealia]

Flogging pins with that coin too? You'll be looking at $1.50ish on top of that. Your $7 coin is now running over $10, and people are starting to bitch and moan in the forums.

 

Why bring pins into this to inflate the number? Nobody is talking about pins.

 

Yeah, you make a bit of profit if you sell them all (including your holdback), but not nearly enough to finance another project.

 

Yes, God forbid that somebody has to actually pay for thier own coins and not rely on others to finance it for them.

 

Honestly, people coming in here claiming a $7ish coin and so much as breaking even selling them for less than about $10 makes me call BS and tells me they have no clue what they're really putting out financially. There's a whole lot of nickel-and-diming that adds to the price of coins if you're trying to sell a run.

 

And these prices assume a $7 coin - that's nothing fancy, probably small. Get into a short run of large coins and even a basic coin is going to cost a lot more than $7 a pop. All those extra fees, and the final price, go up accordingly.

 

Flat out wrong. I've made about 10 coins to date and you get a heck of a lot for $7.00 and UNDER.

 

In any case, like I said before - I suggest everybody take this conversation to a new thread and let the OP have his/her thread. We know some folks will buy this coin, too so let them have their thread.

 

Engage the debate in another thread, but without me. I've been in the middle of this one too mnay times to count and am getting tired of beating my head against a brick wall. Opinions vary on what the SALE price should be - BUT MANUFACTURING costs are pretty clear.

 

Note to the OP: If this is a fund-raiser for a group in Spokane, more power to you. It might have helped to have stated that upfront (if it was, a lot of us likely missed it). Just take this feedback as feedback on the COST, not the PERSON.

[+Kealia]

Actually ON-TOPIC:

 

Is the front a wheel spoke or something else?

To me, it looks like looking up inside the pavilion at Riverside Park (childhood memories......).

[+eagsc7]

And this is the reason that I don't like the forums. Too many over-analysts.

I did just talk to the person that actually did the money handover, and did my own math. I was told the $9.77 from them, but after doing the math found out that I had been lied to also. It actually cost 8.23 per coin. Finding that out, I asked everyone about lowering the selling price. Everyone agreed at $11 is ok.

 

Another thing that was mentioned is that Yes, the transactions do take into account any paypal fees.

 

So to clarify to everyone:

 

Coins are $11 each Plus S&H.

S&H is $3 for people in the USA

S&H is $5 for people Outside the USA

 

To Order the geocoins,Go Here!

 

If you buy a coin, you will find out the manufactuer of the coins. The reason I don't tell specific companies is that I know all of them make High Quality Coins, and it should not matter which one it is.

 

The Steaks

Edited May 16, 2007 by eagsc7

[+eagsc7]

Actually ON-TOPIC:

 

Is the front a wheel spoke or something else?

To me, it looks like looking up inside the pavilion at Riverside Park (childhood memories......).

 

Your memories have not faded. Yes, It is!

[+ArtieD]

And this is the reason that I don't like the forums. Too many over-analysts.

 

I know! I mean heaven forbid someone actually asks questions and...well wouldn't you know it...they like to have real answers. The nerve of people.

 

I did just talk to the person that actually did the money handover, and did my own math. I was told the $9.77 from them, but after doing the math found out that I had been lied to also. It actually cost 8.23 per coin.

 

I still think the truth is floating out there. No offense, but the coin's quality does not scream $8.23 coin to make...

 

BTW...how convenient that the manufacturing cost went down to under $9 after I pointed out something fishy about the "original" minting costs and sale prices.

 

If you buy a coin, you will find out the manufactuer of the coins. The reason I don't tell specific companies is that I know all of them make High Quality Coins, and it should not matter which one it is.

 

How conventient...one has to buy a coin to find out the answer to a simple question virtually anyone who makes a coin answers quickly.

 

It should matter who it is, so other people can avoid them since they obviously overcharge.

Edited May 16, 2007 by Arthur & Trillian

[+Kealia]

Actually ON-TOPIC:

 

Is the front a wheel spoke or something else?

To me, it looks like looking up inside the pavilion at Riverside Park (childhood memories......).

 

Your memories have not faded. Yes, It is!

 

Thanks for confirming.

I still have family in Spokane and hope to get back there someday soon for a visit and some caching.

(I haven't been back in about 10 years )

[+nicolo]

...

I did just talk to the person that actually did the money handover, and did my own math. I was told the $9.77 from them, but after doing the math found out that I had been lied to also. It actually cost 8.23 per coin.

 

I still think the truth is floating out there. No offense, but the coin's quality does not scream $8.23 coin to make...

...

I'm guessing that if this number is "correct" that it's a bump-up to cover the holdback coins.

[+ArtieD]

...

I did just talk to the person that actually did the money handover, and did my own math. I was told the $9.77 from them, but after doing the math found out that I had been lied to also. It actually cost 8.23 per coin.

 

I still think the truth is floating out there. No offense, but the coin's quality does not scream $8.23 coin to make...

...

I'm guessing that if this number is "correct" that it's a bump-up to cover the holdback coins.

 

Perhaps you're right...who knows?

 

Look, this is the last I'm going to comment on this...

 

I know coins cost money to make and one has to protect an investment...that's fine. I'm even aware that sometimes prices have to be jacked up a bit to cover holdback, etc....I'm fine with that, too, if it is necessary.

 

However, what is not fine is what is happening in this example. It is insulting to the intelligence of all who make coins here to sit there and act like that coin cost as much as the OP says it did.

 

Many here have asked about the coin manufacturer's identity. To this, the OP has refused to say...unless you buy a coin from him. I haven't seen a coin maker here yet (including myself) who refuses to say who is making their coins. BTW...Coins & Pins is making mine. See? Easy. Why won't this person be stand up like everyone else? If I thought I was being overcharged, you'd better beleive I'd spill the beans on the manufacturer...if for no other reason than to inform the other prospective coin makers. What do they really have to hide?

 

As others have said...people are going to buy this or not. It's the way the market works. However, when I or anyone else senses something awry about an item we're going to comment on it.

 

So...my final thought and comment is this:

 

I think that OP is hiding much from the people here about this coin, if not even making false claims, and that is poor business and ethical practice.

Edited May 16, 2007 by Arthur & Trillian