Joined: 27 Sep 2005
Location: 49°48.505', -97°08.066'
|Posted: Jul 19, 2006 5:30 pm Post subject: MBGA 2006 Geocoin -- Funding?
|I've been thinking about geocoins lately, and thought it might be time to start work on the next 'official' Manitoba Geocaching Association coin. I've got some ideas that I'll post later, once they've been polished some more.
However, this time around, I'm interested in doing a proper coin -- 1.75", die-stamped, with colour on both sides, a GC.com tracking number, and probably a custom coin icon on the web site. And I'd like to see costs come in at less than C$10.00, including shipping.
But. (Isn't there always a 'but'?)
I'm guessing we'd be looking at an order of 1,000 coins (the minimum to qualify for a custom GC.com geocoin icon), and a corresponding up-front cost of between $6,000.00 and $8,000.00. Given the stress from our last coin issue that came from juggling costs, prices and buyers, I'm leery about going through a pre-order process, particularly with this number of coins, and with likely international buyers. And neither I, nor the MBGA is able to front the required amount.
But the possibility of "investors" has occurred to me. I'm just not sure if it would fly...
Would people be willing to invest in a coin order? I'm thinking of offering a 5% return. ie: If you invest $100.00 up front, you'll recieve $105.00 back, once the coins are sold. If the order falls through due to lack of interest, the full $100.00 (less any Paypal fees, most likely) is returned.
The major risk would be that only a portion of the coins are purchased. While unlikely, it might be several months before the full amount can be paid back to the investors (assuming the investors don't want to be paid in geocoins).
So, any interest? How much would you front? (I've added a poll to help...)