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Geocoins? How Do You Afford to get them made?


Nochipra
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I've seen a lot of people getting a lot of geocoins made and my question is how can you afford it? I sent coins and pins a design idea and I got an email back saying that they really like the idea but they gave me all these quotes on getting it made which was over $1000. They said the bare min. that it could cost me was a little over $700 with the reselling program. I can't afford it. I am on disability and don't even make $700 a month. I love geocoins and have played around with making designs and would love to see a coin idea I came up with made into a coin but the costs are way outta my league. Is there some way to do it without any real cost to me or at least a small cost. I could only afford to spend "maybe" $100 a month on geocoins if that and that is splurging.

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We used our tax refund to have our coins made. Some people also do a presale.

 

The email I got said that they would like to start working on the artwork. Does that cost anything and would I have to put up any money to get something from them to show in the forums for a presale? Have the companies already started creating it when people post the pre sales on the forum?

Edited by Nochipra
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Two options:

 

1. Pay Die Fees and have samples done, the put them up in the for sale pre sale. This works best if you are fairly well known in the geocoin community. If you go this route you should post the art in the forums for feedback & should ask your minting company to be brutally honest about the salability of the coin.

 

2. Most minting companies will do a JV were if they feel the design is market worthy will take all the risk of making and selling the coin and give you some "free" coins as payment for use of the design.

 

Yes . . . New Geonick for Southbayday . . . because I am afterall the worlds worst cacher! :blink:

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My advice would be if you cannot afford it don't do it. There is no guarantee that you will sell all of them. In addition sometimes people do not take into account the cost of mailing, replacement cost of lost coins and other expenses that come up. Presales can solve some of this but what do you do if you only collect half the money on the presale? You will still have paypal fees and refunds to contend with if they do not sell out. There is risk involved and if you do not have the money to spare it may not be a good idea to take the risk.

 

We recently had a nice couple get in trouble this way and there are lots of people still waiting for their geocoins they paid for that they will never see. The reason was the person making the coin could not afford the postage or at least that is what they say.

 

There are lots of great signature items you can do without the risk of losing your $700 per month.

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I've seen a lot of people getting a lot of geocoins made and my question is how can you afford it? I sent coins and pins a design idea and I got an email back saying that they really like the idea but they gave me all these quotes on getting it made which was over $1000. They said the bare min. that it could cost me was a little over $700 with the reselling program. I can't afford it. I am on disability and don't even make $700 a month. I love geocoins and have played around with making designs and would love to see a coin idea I came up with made into a coin but the costs are way outta my league. Is there some way to do it without any real cost to me or at least a small cost. I could only afford to spend "maybe" $100 a month on geocoins if that and that is splurging.

 

My first coin cost $2300ish CND(back when it was .75us)

And that was for 350 coins. After selling I made it all back to within a hundred $.

I could afford it because I had the money in my bank account and there wasn't an immediate need for it.

 

Second time around minting was free (300coins). landsharkz the minter paid for it because my first version was quite popular and sold out with in a day or two. (v2 sold out with in a day)

So it is possible to get your coins minted for free you just have to have a unique design that everyone is going to want.

The email I got said that they would like to start working on the artwork. Does that cost anything and would I have to put up any money to get something from them to show in the forums for a presale?

Usualy if you buy the coins from a minter they wont charge your for the artwork.
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I've seen a lot of people getting a lot of geocoins made and my question is how can you afford it? I sent coins and pins a design idea and I got an email back saying that they really like the idea but they gave me all these quotes on getting it made which was over $1000. They said the bare min. that it could cost me was a little over $700 with the reselling program. I can't afford it. I am on disability and don't even make $700 a month. I love geocoins and have played around with making designs and would love to see a coin idea I came up with made into a coin but the costs are way outta my league. Is there some way to do it without any real cost to me or at least a small cost. I could only afford to spend "maybe" $100 a month on geocoins if that and that is splurging.

 

My first coin cost $2300ish CND(back when it was .75us)

And that was for 350 coins. After selling I made it all back to within a hundred $.

I could afford it because I had the money in my bank account and there wasn't an immediate need for it.

 

Second time around minting was free (300coins). landsharkz the minter paid for it because my first version was quite popular and sold out with in a day or two. (v2 sold out with in a day)

So it is possible to get your coins minted for free you just have to have a unique design that everyone is going to want.

The email I got said that they would like to start working on the artwork. Does that cost anything and would I have to put up any money to get something from them to show in the forums for a presale?

Usualy if you buy the coins from a minter they wont charge your for the artwork.

 

That's nice! :blink:

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My advice would be if you cannot afford it don't do it. There is no guarantee that you will sell all of them. In addition sometimes people do not take into account the cost of mailing, replacement cost of lost coins and other expenses that come up. Presales can solve some of this but what do you do if you only collect half the money on the presale? You will still have paypal fees and refunds to contend with if they do not sell out. There is risk involved and if you do not have the money to spare it may not be a good idea to take the risk.

 

We recently had a nice couple get in trouble this way and there are lots of people still waiting for their geocoins they paid for that they will never see. The reason was the person making the coin could not afford the postage or at least that is what they say.

 

There are lots of great signature items you can do without the risk of losing your $700 per month.

This is excellent advice. Only the best designs sell well and even then its a big risk.

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I WAS gonna sell some of my coins to fund my coin, but after takin pics, blurring out the tracking Numbers, and just needing to list em, came to the conclusion that I aint got enough time for this right now...Just way too slammed with life right now!

 

Fortunatley I hope to continue with my coin, even if my OG plan didnt work for me!

 

You could always collect cans like I did when I was in 5th and 6th grade, but its stiff competition with the Bumbees these days :o

 

Guess if you presented the design and got enough attention for a presale that may work, but I have seen presales go sour as well!

 

Good luck- I know how ya feel! :o

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