RE vs LE Pricing?

[+tsunrisebey]

This has nothing to do with anyone else's sale so don't take it personally. I've been meaning to ask this for awhile and I keep forgetting to ask.

 

It seems the common practice is to charge more for the LE coins than the RE. I've always charged the same price no matter what version you're buying. I've always just averaged the prices out (antique finishes cost more than say gold or nickel).

 

Anyhow, what are people's thoughts on this practice? I'm open to hearing anything positive or negative regarding all of this. Maybe I've been going about my sales all wrong

 

Thoughts, comments and hecklers welcome

[+Droo]

You've been doing great, Steph. Why change what's worked for you so long on account of what others do??

[+~tasia~]

This has nothing to do with anyone else's sale so don't take it personally. I've been meaning to ask this for awhile and I keep forgetting to ask.

 

It seems the common practice is to charge more for the LE coins than the RE. I've always charged the same price no matter what version you're buying. I've always just averaged the prices out (antique finishes cost more than say gold or nickel).

 

Anyhow, what are people's thoughts on this practice? I'm open to hearing anything positive or negative regarding all of this. Maybe I've been going about my sales all wrong

 

Thoughts, comments and hecklers welcome

 

I like the LE's at the same price as the other coins, no more than about $.75 more than the RE's. They all cost the same to make (with exception of antique LE's), so why try and squeeze some more profit because they let you make 10 in Black Nickel and 90 in Silver for the same price per coin?? Maybe I'm the only one who feels that people may take advantage of that fact is not right? I guess I think of it as trying to extort people.

[+dhenninger]

There is very little price difference between the different finishes as compared to the price difference of some LEs. I agree with you Tsun. I don't see why some people charge so much more.

[QuigleyJones]

Though I dont pay close attention I find with LE/RE priced the same the LE's usually sell out fast.

 

Assuming LE are more costlier, by having different prices the RE prices can be cheaper. I also find that LE remain on sale longer if there more expensive.

 

If I have LE's I also average the price, as I like that practice best.

[+tsunrisebey]

I hear what you're saying but let me throw another spin on it. When people trade and sell on ebay, LE holds more weight to everyone here (ok, almost everyone, there may be the exception to the rule). So, why shouldn't the vendor be able to capitalize on that from the beginning? I'm just asking doesn't mean I'll change what I do (I may, I may not ). In a way it would almost seem like a double standard to not agree if a vendor charges more but it's ok for the customer to pimp the coin out as worth more because it's LE. Just pondering

[+ThePetersTrio]

Well, I can only answer for myself and the choice that I made with regard to pricing difference. I wanted to keep the price for the RE as low as possible for my coin. I'm pretty much breaking even as it is with the RE. The LE price helped me to make a little more with the hope that I could then pay for the artist fee for my next design, allow me to have some trades and a few extras for cointests, releasing into the wild and to keep in my library for prosperity (or my daughter's college fund if necessary).

 

The other consideration is supply/demand. LE coins are more sought after and (as Tsun pointed out) often go for much higher on eBay.

 

I did feel strongly about limiting the number of LE coins per person, so as to allow for more people to get them and not have a couple of avid eBayers snatch them up with the hopes of selling them at a much higher price down the line.

 

This is my first sale. I have no doubt I will learn as I go along. If I've made people upset with my choices, I apologize as it was not my intention.

 

[edit to add] For people who don't know, different metal choices are priced differently. Satin gold was the more expensive choice to mint of my three metals.

Edited July 12, 2008 by ThePetersTrio

[+earthrooster]

That's why I expect to pay/trade more for LE or XLE. I have no issue with the difference.

But- I don't acquire a coin simply because it's LE or XLE. I get whatever finish I think looks best to me

 

Just my .02

[+MustangJoni]

I can really see both sides on this one.

 

I generally buy a coin in the finish that I think looks the best. Sometimes that is the LE, and I get that if I can. But if it is the RE, I get that one, and not worry about it.

 

Of course, I'm one of these crazy people who activates all my coins!

[+WRITE SHOP ROBERT]

I think it depends if people are using the real definitions of the terms. If a RE coin will ever be reminted in the same version, then it's collectibility is lower, and the price should be lower(even by a couple of dollars)

 

Since an LE should have a limited quantity available, the collector who wishes to own one should be willing to pay a premium.

 

The confusuion comes in when a coin is minted and there are 150 RE and 50 LE, but no other REs will ever be minted. In that case, they are all actually LEs and should have the same price.

 

LEs should be different enough to have a clear distinction from the REs, and the REs would be subject to more production in the future, while the LEs aould not.

Edited July 12, 2008 by WRITE SHOP ROBERT

[+Clan Doyle]

I don't acquire a coin simply because it's LE or XLE. I get whatever finish I think looks best to me

 

I agree. But as some are pointing out, though the metals don't differ by much in terms of minting the coin, what you are paying for is collectibility. A rare coin is just that, a rare coin, regardless of the monetary value stmped on it. It didn't cost any more to make, but is more collectible. I would expect to pay up to $2 more for an LE straight from the vendor, knowing that if I miss it and really want it, I'm going to pay a grip on eBay in a week. And it is definately unfair that the vendor makes nice and prices evenly, and the reseller capitalizes on the LE.

 

Bottom line, Tsun, make your money. If you jack price on the LE up a bit, there's no one on this board who wouldn't still buy them. And any grumbling will be kept quiet, as it will come from a bare minimum of people. I'm more ticked when I miss a reservation of one of your coins that I will ever be at the cost...just don't go crazy!

 

My two small, round, shiny peices of worthless copper.

[ELTADA]

I agree with WSR - if you are selling true RE and LE coins, it makes sense for the LEs to have a higher selling price. The LE will only be sold once and cannot be profited on again -- the extra cost would compensate the artist for not being able to sell them again (in my opinion anyway). The REs can be reminted over and over and provide good profits on a regular basis (in theory, if the design is good and popular).

[+ThePetersTrio]

Speaking of RE vs. LE pricing - how does requiring the purchase of a "set" figure in? I know there have been times when ordering a set for me has been no problem. But then there are other times when I only want specific finishes - and the LE portion of the set is one of them. I admit that most of the time I'll cave in and buy the set (which is obviously the purpose of doing it that way) thinking I'll have a few extras for trades, but sometimes economically I wish it didn't work that way.

[+ThirstyMick]

I see what everyone is saying but I like what I like and that's what I want. I could care less if it's LE/RE/AE/XLE/XXXLE, pretty is what gets me. I buy whatever version I think looks best, and it irks me to have to pay more for what I think looks best. $1-2 more, fine, but $5 more? Well, honestly the way I've been buying lately, seeing that the version I like is $5 more will make me close the window and go back to work.

 

Golly, I think I used that phrase earlier today about presales. Must be getting grumpy in my old age.

[+rsfish1]

Tsun with your reputation and designs you could charge double and we would all still buy the coins.

But on to your question, I think limiting them to one and charging half again more like some do is fine. You deserve to make a profit on them just as much as any body else. Keep the RE's at a reasonable cost and make some "fun" money on the LEs.

[avroair]

The simple answer is greed. People name and rename coins... limited, really limited, really really limited... they sell them for more to make more money. I don't mind a price bump of $0.50 a smaller mint run might come close to that, but prices of $10.99, $12.99 is nothing other than greed.

[+hollora]

Interesting discussion here. When we (Cache Maine and hollora) did the 2008 Maine Pirate Quest coin - it was decided to do 250 coins - no more, no remint, no pre-order, no reservations. The coins were to be released at our Maine Pirate Quest Event - two of the 4 metals/combos made were released at the event.

 

Attendees were offered the chance to purchase either the RE (satin gold with a glitter sky - 150 made) or LE (polished nickel with non-glitter sky / glow in the dark - blue sails on the ship - 70 made). The price of the coins were the same price - and the same as the REs which were offered by me on the forums and through Landsharkz after the event ~ until the ones available for sale were all gone.

 

We decided ahead of the event that only the REs would be offered for sale after the event through traditional methods such as through the vendor or the forums. I thank Landsharkz, for helping with putting a few out at a time of their inventory - which was 50 - so as many folks as possible could have a chance at this coin. The remaining LEs, which did not sell at the event, were kept for special trades, gifts or would be placed on sale through Auctions or other means to off set our expenses.

 

20 XLEs were done in Polished Gold with the glow sails. 10 AEs were done with glow sails, this was in BN and had polished nickel stars on a recessed background - in addition the back which had translucent fill had two tones of metals - including a polished nickel logo. Through an error - the AE was minted wrong, so, there was a correction coin minted resulting in a duplicate coin set. I should add, Landsharkz was wonderful in dealing with this problem and saw that it was corrected promptly.

 

No XLEs or AEs were offered for sale at the event! They were all held by Cache Maine and/or hollora for disposal/sale/exchange/trade/gifting at their discretion after the event. Cache Maine held/holds all the AEs. I have traded some of mine and they have sold some of theirs and perhaps traded too.

 

As for minting cost - the LEs and XLEs (polished metals - gold, nickel) were the same cost and the least expensive to produce - the AE was the most expensive (two tone, two sides, one side recessed, one side with translucents) and the RE (satin gold) was actually costed in the middle.

 

We felt all the ones being release originally at the event should all be sold for the same price. Interestingly, folks purchased more of the REs in Satin Gold than the LEs in Polished Nickel. There could have been many reasons why, but, we know that folks at least had a chance at an LE for a reasonable price.

 

Hope this provides some insight Tsun - for what it may be worth.

 

If I have totally confused anyone - PM me and I will try to clarify. I do still have a few left for some very special trades and use.......but am keeping these for special things. Not sure about Cache Maine's inventory.

 

There were only 250 produced - there will be no more! Cache on - cache happy and happy collecting everyone!

 

Have to say - I hate having to buy sets to get the metal I like - frustrate over the frenzy to place an order - hate paying a lot more for a metal/finish I like - frump when I don't get a color combination I like - but accept the whole thing as - this is life. Some of those set purchases have given me nice traders for others to enjoy. Hey - as long as the extra price is not unreasonable - no one should go broke selling the coins they produced. As for the colors I want and didn't get - ah, that is just life and in the Creator's plan - teaching me patience!

 

Time to get off the soapbox!

[+GPX Navigators]

The simple answer is greed. People name and rename coins... limited, really limited, really really limited... they sell them for more to make more money. I don't mind a price bump of $0.50 a smaller mint run might come close to that, but prices of $10.99, $12.99 is nothing other than greed.

 

Yup, he hit the nail on the head. And because the bulk of us don't mint coins and don't know the pricing on metals or potentially intricate designs, most just bought into it when we were told that this coin has a higher price because it has a fancy title/metal/color/design. It got way out of control in this last year with the multiple editions & high prices. I found that to be a serious turn-off for collecting these pretty bits of metal.

 

I'm not against a vendor making a smaller run run in one metal or color and calling it the LE. The fewer number minted is going to make it a hot property just by that alone. Nothing wrong with the vendor capitalizing on that from the start. It is our choice if we want to buy into the name & price. Just don't price-gouge us and tell us how super special the coin is and that it can only be sold for the much higher price because it cost so much more to make. We aren't stupid.

 

And for what its worth tsun, your method works perfect for us. But you need to find what works best for you.

[+maldar]

I have been working directly with a mint and the coins I'm thinking of minthing as XLE/AE are about 3 times the cost of the ones that will be the mass produced coins. This is do to the fact that I'm only having about 10 made compared to 100+ of the other metals. I have decided to have a LE made and there will be only 40 of them. While I plan to charge more for the LE It will only be about a couple more dollars. They are rare and will cost me more to make. This is just me. If you are making the coin and doing LE and the like, charge more. Someone will buy them later on ebay for more than what you charged.

 

maldar

[+WRITE SHOP ROBERT]

OK...Do we all understand the definition of Limited Edition? if someone says

 

"I'm going to make 300 coins and 50 of them will be a different metal, but there will never be more than 300 minted"

 

Then the fact is that all 300 are Limited Editions. The Edition is limited to 300 coins. While the "Different Metal" may be special, the others are also "Limited".

 

As an example(and I'm spilling some beans here) I've recently ordered 60 Birds of a Feather coins all in one color pattern. The breakdown is as follows:

 

50 as Cointest Prize Coins, with special text, and

10 as Special Gifts with different text.

 

I may order more of the Cointest version, this makes them a Regular Edition,(quantity not limited or defined)

I will never re-order the gift version, this makes them LE or even XLE.(quantity defined and limited to 10)

 

There will never be more than 10 of this color pattern of the gift version, but there may be anywhere from 50 to infinity of the cointest version.

[+tsunrisebey]

I have been working directly with a mint and the coins I'm thinking of minthing as XLE/AE are about 3 times the cost of the ones that will be the mass produced coins. This is do to the fact that I'm only having about 10 made compared to 100+ of the other metals. I have decided to have a LE made and there will be only 40 of them. While I plan to charge more for the LE It will only be about a couple more dollars. They are rare and will cost me more to make. This is just me. If you are making the coin and doing LE and the like, charge more. Someone will buy them later on ebay for more than what you charged.

 

maldar

 

Ok, let me first note: I should have made myself more clear, I didn't mean this thread to be about me and my coins, if I gave that impression, sorry. I always use myself as an example so no one else feels like they are being picked on. I meant this to be more about RE/LE in general terms. Anyhow....

 

maldar: in the 1 year I've been working with the mint on my own, I have never had any coin that cost 3 times more than the rest and I've used tons of colors and gems, etc. and done AE/tsun versions. I'm not sure what you are doing that is causing 10 coins to be that highly priced compared to the rest but I will tell you if that is the case, then you're getting the raw end of the deal. LE's don't cost more to make but antique metals cost more than the standard platings like gold or nickel. When I receive my invoice from the mint, it is broken down into metal prices and I'm not charged by the amount I'm having minted (more for only having 10). For example here is what I might see on my invoice:

 

125 antique copper, imitation hard enamel: $4.00

175 nickel, imitation hard enamel: $3.85

250 gold, imiatition hard enamel: $3.85

20 antique silver, imitation hard enamel: $4.00

 

All my antique platings are the same and all my standard platings are the same, no matter how many or little I make of each metal. Of course, if you've got glitters and glows that will raise your price but shoudn't be 3 times the regular price. You may want to use a different mint next time if that is happening

[+plumbrokeacres]

When I did my coin the RE's cost the same as the LE's I made a limited amount of the RE I used them as Trade only. I didn't feel right charging more for the LE just because I only minted a few. I find a disturbing trend where the nicest looking coin is the LE and then they charge more for it. I have seen a couple sales that I have passed on because the coin I was interested in was almost 50% more than the RE.

had the LE's been reserved for trade I'd have made a trade and bought some RE's.

[+mousekakat]

My big problem with not charging more for the AE is that someone is going to buy them and then ebay them for twice as much, if not more, than what the regular edition sells for.

 

Why should that person get the benefit of that money for a coin that I designed? I don't see the fairness of it at all.

 

As long as the demand is there, I suppose that a number of people will continue to sell the AE/LE's for more than the RE's, not because they cost more to make, but because people are willing to pay more for something that is a limited edition.

 

I view it like those limited edition prints or other limited edition things you buy. The very number produced is what makes them worth something, oftentimes more than they should be worth, but it's that limited thing that drives the price up.

 

Naomi

[+nashuan]

Interesting thread. I think the artist/minter should benefit from the higher prices their LEs would bring. The fact is that on Ebay, something that is presented as "LE", "XLE" or somehow denotes that a coin is in some way rare, will command higher prices from the market. I do much more buying than selling, but I have no problem paying an artist more for their limited editions, just as I have no problem paying an Ebay seller more for theirs and would hope that if and when I offer an LE for sale that I would receive more for it myself.

 

As has been said here previously, there is also an issue with having to buy a set in order to get a specific metal coice, and I do have a problem with that. I generally don't mind buying a set per se, especially if I can get a little better price for buying the set as opposed to buying the individual pieces, but if I wanted to buy additional LEs of that coin, I don't want to have to buy an additional whole set for one or two LEs.

 

Finally, there is the issue with limiting LE sales to one or two per person in order to allow more people access to the LE offering. I have to say that I grumble when I see that I'm being limited in my purchases, but to be honest, I like that more people get a shot at buying an LE and not having one person or a few people corner the market on that particular coin. I think what it really is, is that I don't want to be limited myself, but want everyone else to be

 

Tsun, I think you do a fantastic job at what you do, and my impression of many of the artists I have had the pleasure of buying from here is that the word greed does not exist in your vocabulary. You make offerings that better the world in a small way and charge (IMO) very little for your work and contributions. As a consumer, I should be the last one saying such a thing, but I believe this to be true. I think a lot of people who don't know where to buy directly from coiners buy from Ebay and so I use Ebay prices as a standard of sorts. I know when I started my collection earlier this year, that all my coins were Ebay-ers and I probably paid 4-5 times initial offering price for my first 75 coins. When I found out what the initial offering prices were on many of these purchases, it made me sick. My opinion is that the artists should charge more for LEs but put limitation of sales in some way to allow more people to have a chance to own these little masterpieces of metal and enamel.

[+tadpole379]

SNIP

Finally, there is the issue with limiting LE sales to one or two per person in order to allow more people access to the LE offering. I have to say that I grumble when I see that I'm being limited in my purchases, but to be honest, I like that more people get a shot at buying an LE and not having one person or a few people corner the market on that particular coin. I think what it really is, is that I don't want to be limited myself, but want everyone else to be

 

I know when I started my collection earlier this year, that all my coins were Ebay-ers and I probably paid 4-5 times initial offering price for my first 75 coins. When I found out what the initial offering prices were on many of these purchases, it made me sick. My opinion is that the artists should charge more for LEs but put limitation of sales in some way to allow more people to have a chance to own these little masterpieces of metal and enamel.

 

For my first personal coin, I made 25 LE tadpoles, and I did limit the number of LEs to one per person so that as many people as possible could get a shot at once, since they were very limited in number.

 

When I did that coin sale I found it very interesting...some people would order one coin (probably to keep), some people would order one of each edition (if this was me it would be because I couldn't decide which I liked best. I might end up keeping them all, but would prob end up trading one or two later), some people would order two of the same edition (prob one to keep, one to release or trade), and then there were a few people who wanted to order 15 coins of each version(?)

 

So when I did my second coin sale for the 2008 tadpole I limited the number of coins someone could buy to 3 of each version. This still allowed someone to buy 6 coins from me. I think 6 is more tadpoles than any one person needs, but I know people like to buy extras for trades, travel, or to sell. And a few of the tadpoles went on ebay, but not too many. I think limiting to 3 gave more people a chance to get the coins that they wanted for their collection without having to resort to paying high prices on ebay for something that I would have sold to them for much less.

 

The (LE) version of the 2008 tadpoles (25 coins) I brought to GW6 with me and used them all as traders.

[+maldar]

SNIP...

 

As has been said here previously, there is also an issue with having to buy a set in order to get a specific metal coice, and I do have a problem with that. I generally don't mind buying a set per se, especially if I can get a little better price for buying the set as opposed to buying the individual pieces, but if I wanted to buy additional LEs of that coin, I don't want to have to buy an additional whole set for one or two LEs.

 

I know what you mean about set like that. Why buy a whole set when all I want is one coin. This is one thing that I thought about recently, as I'm closing in on my minting date.

 

What I have come up with is the following:

 

Offer a set of RE and LE. This would be at a reduced price. Then have each coin be sold separately. I'm still trying to determine what I will sell them at, but Pre-Sales will be $2 less than what I will sell them for once they are in-hand, well, that's the plan. I think pre-sales should be cheaper as people are helping you out. As well as a set should have a reduced price on it as they are buying even more coins. I didn't think about it before, but I might place a limit on the number of LE coins someone can buy.

 

maldar

[+Kealia]

The simple answer is greed. People name and rename coins... limited, really limited, really really limited... they sell them for more to make more money. I don't mind a price bump of $0.50 a smaller mint run might come close to that, but prices of $10.99, $12.99 is nothing other than greed.

 

Spot on. Somebody will no doubt argue that it's economics, the American Way, or something else along those lines, but the bottom line is that because they CAN charge more - they WILL. Now, if buyers would realize this and stop paying for it, it would stop. But when it's limited and some people really can't pass something up (especially if it's a limited run, LE, XLE, AE, whatever) so it's going to keep happening.

 

My big problem with not charging more for the AE is that someone is going to buy them and then ebay them for twice as much, if not more, than what the regular edition sells for.

 

Why should that person get the benefit of that money for a coin that I designed? I don't see the fairness of it at all.

 

As long as the demand is there, I suppose that a number of people will continue to sell the AE/LE's for more than the RE's, not because they cost more to make, but because people are willing to pay more for something that is a limited edition.

Naomi

 

Just because somebody else will eventually do it, doesn't mean that it's right IMO. To follow that train of thought: all coins will generally sell for more on eBay or in a secondary market than they were orignally sold for - does that mean that we should all jack up our prices now?

 

There's two ways to price things:

1) Based on cost

2) Based on value (perceived or real)

 

If you (general) want to make a coin and sell it because it's fun, you want a sig item, etc. you price according to #1.

 

If you (general) are in it soley for the money you price based on #2.