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Minting your own coin

 
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Tooey



Joined: 02 Jul 2008
Posts: 193

PostPosted: Thu Oct 09, 2008 4:33 pm    Post subject: Minting your own coin Reply with quote

There are a number of considerations to minting your own coin, first and foremost I would suggest that if you cannot fund the project from start to finish then you should probably not be entertaining the idea.

A numer of vendors will be happy to take your design, and most probably charge for further artwork, and bring your project to fruition. Some may even be prepared to front the costs on the basis that they will sell the coins and you will receive a number in payment for your design.

This works well, the coin vendor takes all the risks and fronts the financing, liaises with Groundspeak on your behalf to get the design approved and pay for and receive the tracking numbers which they pass to the mint for production. They will also be responsible for packaging and mailing all coins sold. All in all there is a great deal of work undertaken in producing and marketing a coin for not a great deal of profit.

On the other hand, if you have a design of your own and can afford to front the production and distribution costs then there is no reason why you should not venture to produce your own coin.

I have worked directly with a mint in China, Dongguan Jian Plastic & Metal Products Ltd, No 3-1 South Gaobu Blvd, Gaobu Town, Dongguan City, Guangdong Province, China, Zip Code 523278

Tel +86(0)769-8878-2881 Ext 145
Fax +86(0)769-8878-2882

Email Lydia at sales34@jianpins.com

Website http://www.jianpins.com/

If you do decide to go it alone, good luck with your project and say hi to Lydia from me, tell her Jan Cuthbertson sent you Very Happy
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Cheesy Pigs



Joined: 02 Jul 2008
Posts: 67
Location: Hobart, Tasmania

PostPosted: Sun Oct 12, 2008 4:48 am    Post subject: Reply with quote

Thanks Tooey - that's really helpful! Very Happy
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fox-and-the-hound



Joined: 02 Jul 2008
Posts: 241
Location: Northeast PA

PostPosted: Fri Oct 17, 2008 7:10 am    Post subject: Reply with quote

While Tooey is completely correct you should take a few other considerations in mind, too. If you plan to sell a coin you should have a very, VERY good plan layed out for accepting orders, processing orders, accepting payment, packaging your product and of course mailing your product. I've seen a number of great projects go very badly because just one of those steps was not covered with exacting standards.

Let me assure you that I'm not saying this as a coin production lackey though - lol. I'm saying this because I fully recognize that I'm not nearly organized enough to do these things myself. Cachers always ask me why I don't start my own company with my designs and this is exactly why. It takes a lot of time, effort and organization to put a coin out and getting the coin produced is just one part of it Wink
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Tooey



Joined: 02 Jul 2008
Posts: 193

PostPosted: Fri Oct 17, 2008 10:11 am    Post subject: Reply with quote

Well said Fox-and-the-Hound, very valid points indeed.

I would add though that this information was not posted with 'commercial' coins in mind. It was to help those folk that were considering getting their own personal coin made who may have been put off by costs they have been quoted. The mint does my artwork, no additional cost, and will produce a low number of coins.

Without tracking and icons, having your own personal coin produced is probably a lot more achievable than many imagine. And if you are not going to try and sell coins to recover your production costs then the complexities of taking and processing orders, getting paid and shipping out the 'product' will not apply.

To those that venture forth and get a personal coin made, I wish you every success with your project, I can also offer more advice - so do please get in touch if you want any help.
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Tooey



Joined: 02 Jul 2008
Posts: 193

PostPosted: Sun Oct 26, 2008 5:45 am    Post subject: ALternatives Reply with quote

If you want to shop around and look for other potential suppliers, it is free to register at a number of Business2Business websites such as www.madeinchina.com and www.alibaba.com

I would recommend researching any potential manufacturers, do they have a professional looking website, is the level of translation good, and when you make your initial enquiry ask specifically if they have experience of making geocoins.

Of course an easier route is to go with one of the listed coin vendors on gc.com, but it is likely to be more expensive and take a lot longer, and of course - not nearly so much fun.
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tsunrisebey



Joined: 22 Jul 2008
Posts: 31
Location: Montana, USA

PostPosted: Sun Oct 26, 2008 11:02 pm    Post subject: Reply with quote

It's kind of a disappointment to know that there are some of us who have been as helpful as possible to people who want to have coins minted, given much of our time and information and also offer minting services for very reasonable rates.

I like you tooey, don't get me wrong but it's kind of a slap in the face.

Let me mention that I can not tell you how many times I have been screwed over in the past year doing artwork for people who have not paid for one thing and just dropped the project to drop off the face of the earth. People bombarding me with questions on how to mint a coin and I give it only to learn that everything I have told them they have taken and brought their minting elsewhere and paid more. Or just given info. freely to others....

Sure minting a coin with China is very reasonably priced if you can do it all on your own in a nontrackable fashion. However, it's very time consuming and requires experience to know what you are doing regarding having a coin minted.

I'm quite tired of seeing people talk about how cheap it is to mint a coin without one thought to everything minting coins entails. Everyone wants stuff for dirt cheap or free well if that's the case, then be my guest, mint your coins in China on your own and sell them on your own but don't ask the rest of us who bust arses on this stuff for free help.

I for one am very, very tired of being used. I've kept my mouth shut about what it's like being a vendor and everything that goes on behind the scenes. I've seen thread after thread about the customers wants and what they ain't getting and price complaints.... and everyday I sit there and shake my head thinking 'if you only knew'.

For everyone who seems to think that we vendors are getting rich off of coins, well I've got news for you, it ain't happening. If that were the case, I wouldn't have taken on a full-time job recently. I've calculated the time spent and money I have invested in each coin and I make way below minimum wage for it all. Heck with as much stuff as I've given away, I'd say I'm in the hole overall.

I am tired of what I keep seeing and experiencing. I've got some very supportive customers, don't get me wrong but I'm talking in general terms. What used to be fun and exciting is slowly dying as far as geocoins go.

Just kinda tired of it all....
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Tooey



Joined: 02 Jul 2008
Posts: 193

PostPosted: Mon Oct 27, 2008 4:10 am    Post subject: Reply with quote

WOah - this was not intended as a slap in the face to anybody, please note my previous comments.

I would add though that this information was not posted with 'commercial' coins in mind. It was to help those folk that were considering getting their own personal coin made who may have been put off by costs they have been quoted. The mint does my artwork, no additional cost, and will produce a low number of coins.

I have no desire to make a 'commercial' coin, by the time you add in tracking numbers, icon fee, packing and shipping and then add in all the time involved and the crap from 'customers' it's a wonder anybody bothers to do it at all.

I'm sorry you have felt screwed over by those in the coin community that have let you down - I am not one of them !

As for the fun and excitement - I see it dying too - which is why I had hoped by sharing this information that it might rejuvinate a little excitement and interest back to having a personal coin made. From past history I am certain you will always have a strong following for your designs and very much hope that you will continue to produce yet more. I would understand, but be very saddened, if you decided not to.

Unfortunately being 'in business' whether it be in a small or a large way brings one into contact with Joe Public - and there are some Joe's out there that are better avoided, difficult to do if they are a customer.
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Tooey



Joined: 02 Jul 2008
Posts: 193

PostPosted: Wed Oct 29, 2008 8:58 am    Post subject: Reply with quote

I should also like to add, that it is my opinion that those that have had coins produced by ‘approved vendors’, and have developed a good working relationship, will continue to work with them.

There are a few vendors that have, unfortunately, found themselves in difficult circumstances and as a result have let people down. This has resulted in a spate of attacks on the groundspeak forum which I consider to be undignified. Folk are entitled to feel hard done by, but the lack of understanding and tolerance shown is astonishing. I would agree that some of these incidents might have caused less controversy had more information been shared at an earlier stage by those concerned. But when someone’s life is going down the toilet, there are other more important matters to deal with, and retaining some perspective on where one’s priorities lie can be difficult to manage.

Just because I do not have approved vendor status does not mean I – or anyone else for that matter – should be precluded from minting a coin, it isn’t a right to exclusivity.

My understanding of the purposes of a forum is that it is a place for the discussion of and sharing of information. I have been asked many times for this information, and have shared it here for the benefit of those that might be interested but may have received a negative, even hostile, response from other quarters.
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E&Cplus3



Joined: 02 Jul 2008
Posts: 173
Location: Nova Scotia, Canada

PostPosted: Wed Oct 29, 2008 9:07 am    Post subject: Reply with quote

I posted on a thread on the other forum with no response, so I'm going to try again here.

Are there any North American mints that can compete with the offshore mints for larger production runs?

I have a friend who became keenly interested in my geocoins because he wants to launch a fundraising project aimed at businesses. He now is figuring on creating a series of 20 coins, with a run of 5000 of each coin. He's not against sending his business overseas, but if a mint in Canada or the US would be interested in producing 100,000 coins for a competitive price, he'd certainly give them preference.

I'm also quite interested in this project too, because he wants me to do the artwork. Very Happy
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Tooey



Joined: 02 Jul 2008
Posts: 193

PostPosted: Wed Oct 29, 2008 9:11 am    Post subject: Reply with quote

In your case for much larger runs of coins I believe there are a couple of American Mints that could give a competitive quote, one company states that they do actually produce all of their coins in America, whilst others profess to but actually put the work out to China. I cannot remember the company off hand - but I will do some research and come back to you with a name, when I find it.
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Tooey



Joined: 02 Jul 2008
Posts: 193

PostPosted: Wed Oct 29, 2008 9:35 am    Post subject: Reply with quote

E&Cplus3 wrote:
I posted on a thread on the other forum with no response, so I'm going to try again here.

Are there any North American mints that can compete with the offshore mints for larger production runs?

I have a friend who became keenly interested in my geocoins because he wants to launch a fundraising project aimed at businesses. He now is figuring on creating a series of 20 coins, with a run of 5000 of each coin. He's not against sending his business overseas, but if a mint in Canada or the US would be interested in producing 100,000 coins for a competitive price, he'd certainly give them preference.

I'm also quite interested in this project too, because he wants me to do the artwork. Very Happy


The following is taken directly from their website - it seems they also put work out to China, but would not do so if the customer specifically wants their coins produced in America, the dies fees do look high, but spread over the number of coins you are talking about it may be possible to offset that against the shipping fees from China and hopefully they could come up with a realistic price for you.

It has come to our attention that there are two major coin companies proclaiming that their coins are made in the United States. Although there a few mints here in the USA that make challenge coins, the prices are well above most military budgets. We do have the ability to make coins in the US and do so whenever budgets allow, but most customers can't afford the $500-$1000 per side die fee or the $.52 per color/per side charge. If you are working with a company and they claim to have their coins made in the USA and they are offering FREE DIE FEES or die fees well below what I listed above... then you are being misled. I have personally worked for a coin company who did this (and still does) and the day I found out was the day I quit and started my own company. Please do some research into these claims before you make a decision based solely on the claim that they are made here in the USA. Where you get your coins made is an important decision and I would hate for you to get junk coins when you are expecting high quality, so do yourself a favor and do the research! If a sales rep claims that the coins are made in the US, ask this simple question... "Which mint is making the coin?" If they won't tell you then there is something wrong. I am a distributor for two American mints and if you plan on ordering American made coins I will gladly tell you which mint will be making your coins. They deal with distributors and not directly with customers, so there is no reason why you couldn't and shouldn't know. Just ask!

You can contact Dennis at honorcoins.com or just go to www.honorcoins.com where you can link to request a quote direct, they normally respond within 24 hrs.

I hope you do get a workable quote and that all important commission for the artwork.
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Tooey



Joined: 02 Jul 2008
Posts: 193

PostPosted: Sat Jan 10, 2009 12:02 pm    Post subject: Good news from China Reply with quote

Get minting folks Laughing

Jian have written to say they are offering discounted prices in the hope of generating more business. Details are:-

Dear Customers,
RE: PRICE LISTS FOR METAL PRODUCTS IN 2009
We are glad to inform our esteemed customers that price lists for metals have been reduced, and the dropping percentage is not an average number but differs by size and thickness. We spent time to review each size and reflected the actual price on each price column; hope the new price lists can promote some business in 2009.
Mr. Sheu, the President expressed, if the raw material prices keep dropping, there will be another adjustment, likewise; if metal prices’ increase to a certain unbearable level, we will revise it and keep you informed one month earlier.
Following are the brief statements for price lists (REF: PIN V.08; REF: COIN/ V.10)
1. Mold fees (front and back dies) have been reduced.
2. Some unit prices without change:
Printed pins with aluminum or with stainless steel.
Iron Soft Enamel pins
Stamped Iron without coloring.
3. Costs for extra thickness have been reduced too.
4. Antique silver and antique gold with 10% off.
Two tone finishing (gold & silver) with 5% off.
5. Fittings on page 8/10 with deductions.
6. Caddy Coins (Trolley coins): Unit price without change but mold fees are reduced.
7. Pewter (Tin & Lead alloy): Please negotiate prices case by case.
8. Zinc Alloy (Die Casting): Please negotiate prices case by case.
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