HITECHTEAM Posted July 13, 2008 Share Posted July 13, 2008 (edited) Again I'll comment on this subject. I personally haven't had the "delays" that some are having. When I place an order it has the same turn around time as orders placed months ago. I strongly think it is that same old thing as I have mentioned before. These pre-orders are people who either do not have the money up front to pay for the minting and need you to fund it or are not willing to make a commitment to a certain number of coins and want less risk. Both reasons are not GOOD BUSINESS in my book. If I pay I want it sent and I want to know the quality of the final product (Not Just a SAMPLE). If when you walk into a store to get something advertised and were told it has been delayed or we can pre-order you one, would you be pleased? NO you wouldn't! But, so many people are still supporting this trend of SAFETY. Lemme ask this then. Where is the BUSINESS risk? Hmmmm, I'd be nervous about this. I did a pre-sale on my Isle Royale National Park Geocoin (started May 20 I believe)...........I had samples in hand and order had been placed (and paid for) 1 week before I made the pre-sale offer. I had an expected delivery date of June 23. I posted all of this on a web page that I directed pre-sale buyer too, and I kept it updated on a daily basis--I kept my buyers informed. Yes, I had the $$$ to pay, and I had made a committment. I made sure all was well with the mint. I was notified by the minting company that the coins had been mailed on June 1 and expected delivery was June 5--I posted that information. I was then notified that customs was holding a shipment that contained my coins, but that should only be a 3-day delay. I received the coins on June 7 (maybe the 8th). My wife and I went over every single coin and found 5 "errors". I notified the producer (and had replacements with in 17 days). I shipped out ALL of my pre-orders on the next day (and posted such on my web page). I asked a reduced price for pre-orders, and sold about 40% of my coins via this pre-sale--at near my cost (PayPal made sure of that) TOTAL cost (excluding only postage and PayPal fees) for this coin was a few bucks under $2200 for 251 coins. My goal (yup, it was still a labor of love to make these coins) was to break even and make $200-$300 to pay the die/sample fee for my next coin. I broke even on the cost just yesterday (I have kept detailed records of all $$--shipping too--taken in and ALL expenses: tape, mailers, printer ink, paper, die fees, coin minting fees, icon fees, tracking fees, sample fees, shipping fees, artwork fee for coin, artwork fee for icon, ect). It was a learning experience, and most who have never minted a coin will have no idea what the total cost will be. There is more to it than just the $3.85 charge per coin minted. Most of my coins have been sold via my e-store, and the 1 of a kind samples and some of the RE/LE/XLE coins were sold on eBay. They brought premium prices.....what's wrong with that? I have over a year in planning and minting this 2 inch coin. One basic principle of this country is capitalism--supply and demand. Why should I sell my coin to you for $9, only to have you turn around and sell it on eBay for 3-5 times as much? I deserve to get any profit from my idea and work........ I digress..........anyhow, I have about 20% of my coins left for sale at the going prices. Don't like the price, then don't buy it--your choice, but don't chastize me for making a buck. I feel my first coin was a success--so far only 1 non-delivery, which I replaced. Any pre-order that thought the wait was too long, I would have freely refunded there money--no questions asked (no takers on this option though). Now, I plan on donating some complete sets for auction with all proceeds to go to that cause--I do this because I want to. I will be keeping abouot 10% of the coins for trades, and I have retained 3 complete sets: 1 to keep forever, and 2 to offer for sale 2-3 years down the road. I don't think this makes me greedy. There are others out there that do coins commercially--that is they way they make their living--nothing wrong with that. Steve Edited To Add: I had to pay upfront to order my coins from the vendor and wait 3-4 weeks for my product. What's wrong with me doing the same? I'd love to find a vendor that will ship me my coins, bill me, and wait 30 days for my payment! Edited July 13, 2008 by hitechman Quote Link to comment
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