Custom Coin Confusion

[+Spl1nt3rC3ll]

I am really interested in buying a custom Geocoin of my own; I've even drawn up the design. The only thing that gets me are the prices. $540-$1,507.38! Either I'm missing something here, or every Geocoin owner is rich. If it's $6-9 a coin, why can't I just buy three and be done with it? Is there any way that I can keep the price in the double digits, yet have the same customization options? How do so many people have coins that they just hand out? I am genuinely confused.

[+Jackalgirl]

I am really interested in buying a custom Geocoin of my own; I've even drawn up the design. The only thing that gets me are the prices. $540-$1,507.38! Either I'm missing something here, or every Geocoin owner is rich. If it's $6-9 a coin, why can't I just buy three and be done with it? Is there any way that I can keep the price in the double digits, yet have the same customization options? How do so many people have coins that they just hand out? I am genuinely confused.

 

Most mints will not produce a coin unless you have a minimum number -- for most it's 100 coins, I believe, though I think some may let you get away with 75. Also, there's the cost of the dies: your coins are either die-struck or die-cast, and the cost of making the dies varies (usually in the neighborhood of $99 per side).

 

Plus, there's the cost of the codes: Groundspeak charges $1.50 per code and you have to buy at least 100.

 

What I'd highly recommend you do is shop your coins around the vendors listed in the pinned geocoin and geocoin vendor thread. Many of them have the option to enter into a "cost-share" type arrangement: if they like your design, they'll produce the coins for you. The usual trade is that you'll get x coins in return, where "x" is determined by how many coins they end up making. It's a really good deal for someone like yourself who's interested in having a few coins and probably doesn't want to deal with the hassle or expensive of having a large number of coins made (and then trying to sell them, pick & pack them, etc).

 

Good luck, and I hope you get your coin made!

[+The Moop Along]

One word :

 

DIES

 

See, the coins as sold have all the bells and whistles wrapped up in their cost. You have to figure anywhere between $80 and $150 PER SIDE for a die (depends on the mint). Then you add on any design costs, shipping, samples, etc. It adds up.

 

Assume you wanted 3 coins. Figure cheap dies at $80 each. $4 each for the blanks, and $40 to ship them to you. You're looking at:

 

$80 x 2

$4 x 3

$40

 

= $212/3 -------> $70 each

 

Not so good eh?

 

TMA

[+DJ.J.ROCK]

SOMETHING ELSE IVE SEEN IS IF YOUR DESIGN CAN BE EDITED WITH COLORS OR TEXT YOU MAY GET A FEW PEEPS ,,TO JOIN IN A GROUP PROJECT ,,WHERE EACH PERSON CAN CUSTOM MAKE THE COLORS OR TEXT TO FIT THEIR PERSONAL TASTE.

 

THE REASON YOU CANT BUY 3 AND BE DONE WITH IT IS BECAUSE THE STAMP THAT MAKES THE COINS DESIGN COSTS $100 + PER SIDE JUST TO MAKE THE TEMPLATE OR MOLD (DIE) WITH THE DESIGN TO PRODUCE THE COINS,, AND YOU NEED A SPECIFIC TYPE OF ART (DIE ART)TO TELL THE MINT HOW TO MAKE THE MOLD,, SO USUALLY THE COST COVERS THE ART MAKING COSTS TOO, ITS A VERY BIG PROCESS SOMETIMES AND CAN TAKE MONTHS TO YEARS TO DESIGN AND MINT A COIN.

 

P.S. IM GOING ON MY 3RD MONTH OF MINTING 1 COIN- AND WERE STILL ABOUT A MONTH AWAY- IF ALL GOES WELL

Edited January 26, 2009 by DJ.J.ROCK

[+opalsns]

They are not telling tales, it's true!!!!!!

The only thing I would add is the price of metals. They go up and down but mostly up. Gold just went up to over 800.00 an ounce.

In the end, most people just want to get their investment back, after that , they love sharing coins with fellow cachers.

Good luck,

Let us know what happens

Opalsns

[princeshoko]

Well all in all you COULD get just 1 coin, but it would cost you a heck of a lot, DieFee + 1 coin + Shipping around $200USD.

 

$1600 is a good price on 250 tracked and icon coins. About $1,000 for 250 coins non traceable on GC.com.

[+WRITE SHOP ROBERT]

I am really interested in buying a custom Geocoin of my own; I've even drawn up the design. The only thing that gets me are the prices. $540-$1,507.38! Either I'm missing something here, or every Geocoin owner is rich. If it's $6-9 a coin, why can't I just buy three and be done with it? Is there any way that I can keep the price in the double digits, yet have the same customization options? How do so many people have coins that they just hand out? I am genuinely confused.

The best way I can see to keep it to a Small number and low price...

 

1. Use TBs and make your own, or(4-5 dollars, plus your cost of making the coins)

 

2. Pay for the dies, and get samples made, but never place an actual order, or(you might get away with 6 coins for less than $300)

 

3. Work with one of the people who is making Handmade Coins in small batches.(15-25 dollars per coin?)

 

Coin makers all rich?? No, some are and others are just foolish with their money. I went into debt to have mine made. America runs on Credit.

[+drneal]

Perhaps a less expensive alternative to geocoins, would be to have poker chips or wooden nickels imprinted with your own logo or design...not trackable, but very collectible! My first venture was a pathtag.

 

Hope this helps!

 

ILYK

[+nmartin]

You start to see why some other options like pathtags (50 for about $100) are becomming more popular and why so geocachers do pre-orders to judge demand for their coins. It seems like you have to be fairly well established in the game to do a coin on your own or at least with your own money.

 

I have been involved in several different batches of coins. My first 2 coins were not trackable and cost about $350 per 100 coins including dies. The next batch should have been cheaper except the manufacturer (in Korea) had issues and I had to go with a new vendor (in China, and new dies) for about $550 for 100 trackable.

 

For the local geocaching group the first batch was about $2.80/coin untrackable dropping to $1.67/coin for the second/third batch. At this price, several showed up in local caches, but most were bought as traders. My past few coins I have worked directly with manufacturers in china...not something I recommend unless you are willing to live with possible problems.

 

For my latest batch i went low cost trackable (see TB2VAY0)...I bought tracking codes from Groundspeak for $1.50/each and I am hand creating them from brass or aluminum stock (although low melting point allows like cerotru are a good option). This last coin is turning out to be the most fun and the lowest initial outlay. $150 for 100 codes, $9 for Al stock, and $5 for a set of letter punches from harbor freight (I already had a dremal tool and engraving bits). The nice thing about this option is: In less then a week I went from concept to coin in hand with tracking numbers; I can go non-trackable SI for under $0.25 and produce them at a rate of about 5/hr; I can change design easily (Groundspeak design approval is not difficult and they have already approved 4 different designs); or if one goes missing from a cache I can always re-use the number.

 

A few year back, people complained about coins costing over $5, now $8-10+ seems the norm. I wanted a low cost option as very few caches seem to rate a $8-$10 trade item. Alternatively, if you are concerned of cost and want a small batch then think of other items that could be made as signature items. If you want trackable, then engrave or attach a TB/coin tracking number.

[+hollora]

You start to see why some other options like pathtags (50 for about $100) are becomming more popular and why so geocachers do pre-orders to judge demand for their coins. It seems like you have to be fairly well established in the game to do a coin on your own or at least with your own money.

 

I have been involved in several different batches of coins. My first 2 coins were not trackable and cost about $350 per 100 coins including dies. The next batch should have been cheaper except the manufacturer (in Korea) had issues and I had to go with a new vendor (in China, and new dies) for about $550 for 100 trackable.

 

For the local geocaching group the first batch was about $2.80/coin untrackable dropping to $1.67/coin for the second/third batch. At this price, several showed up in local caches, but most were bought as traders. My past few coins I have worked directly with manufacturers in china...not something I recommend unless you are willing to live with possible problems.

 

For my latest batch i went low cost trackable (see TB2VAY0)...I bought tracking codes from Groundspeak for $1.50/each and I am hand creating them from brass or aluminum stock (although low melting point allows like cerotru are a good option). This last coin is turning out to be the most fun and the lowest initial outlay. $150 for 100 codes, $9 for Al stock, and $5 for a set of letter punches from harbor freight (I already had a dremal tool and engraving bits). The nice thing about this option is: In less then a week I went from concept to coin in hand with tracking numbers; I can go non-trackable SI for under $0.25 and produce them at a rate of about 5/hr; I can change design easily (Groundspeak design approval is not difficult and they have already approved 4 different designs); or if one goes missing from a cache I can always re-use the number.

 

A few year back, people complained about coins costing over $5, now $8-10+ seems the norm. I wanted a low cost option as very few caches seem to rate a $8-$10 trade item. Alternatively, if you are concerned of cost and want a small batch then think of other items that could be made as signature items. If you want trackable, then engrave or attach a TB/coin tracking number.

 

Those homemade, trackable creations are definitely cool - thanks for sharing. Very nice.