The price of producing a geocoin can be complicated to work out as there are many things to take into account that will affect the final cost of your coin. The costs can be split into three groups - fixed costs, variable costs and import costs.
We will start with fixed costs:
Fixed costs are the things that we know the price of before you start your geocoin production and remain the same however many coins you have produced. Fixed costs include:
Mold Fee: To make the geocoin a mold must be made. This is a one off cost and if you decide to make a second run of your geocoin you will not have to pay for a second mold (as long as the design is the same). The mold for a geocoin costs between £80 and £200 depending on the complexity of the design. We have found over all the designs we have made that the average cost of a mold is about £120.
Tracking numbers: Tracking numbers are a set cost. They are provided by Groundspeak and are $1.50 (about £1.20) each.
Icon: If you want a unique icon for your geocoin (the little picture that appears on each trackables home page on geocaching.com) they cost $150 (about £120). However, there is a minimum tracking number order size to be able to have a unique icon. We will be happy to discuss this on an individual basis.
Icon design fee: Geocoins R Us charge a set fee of £40 for designing an icon. You may also choose to design your own or have a third party design it for you.
Samples: We always recommend having a set of sample coins made before final production starts. We charge a set fee of £30 for samples. For this you get two geocoins made (non-trackable). These samples can have different finishes, enamels, coatings etc. so you can see how the geocoins will look once finished. It is also the best way to spot any faults in the design work and get corrections made before full productions starts. You do not have to have samples made. This will reduce costs and production times BUT any mistakes in the design or production that would have been stopped by having samples made will not be the fault of Geocoins R Us or the factory
Admin Fee: Geocoins R Us charge a small admin fee to cover the costs involved in dealing with the mint on your behalf, checking that the sample are correct and checking each finished coin.
This is the biggest group and these are the items that will alter the price of a geocoin the most.
Designer Fees: Geocoins R Us work with some of the worlds top geocoin designers. We can take your idea, pass it to them and have a mint ready design completed for you. Designers charge in different ways and will also reduce their prices if they can have an Artists Edition of the coin for themselves. As a rough estimate a designer will normally ask about £200 to £300 to design a geocoin for you, but it may be much cheaper. Designers may also give you additional guidance and advice on such things as enamels, colour choices, finishes and design alterations for your geocoin.
Geocoins R Us also have our own designers who can work on simple 2D designs. Our own designers are free for our customers to use as long as Geocoins R Us produce the geocoin for you. If you take any design we have worked on elsewhere Geocoins R Us will charge you a design fee of £500 for the work done.
Material: Geocoins are normally made from one of two metals; a zinc alloy or copper. Zinc is the normal material used and is lighter and cheaper than copper. Geocoins R Us can also produce solid silver geocoins, wood geocoins and slate geocoins.
Finish: This is the colour of the metal you see on the finished geocoin. There is a big range of choices, from gold to silver and black nickel to copper. And then your can choose to have a shiny finish, satin finish, antique finish, and so on. We often have customers ask for "a gold finish" and are suprised when we ask "So is that gold, satin gold, shiny gold, antique gold, foggy gold, 18 Karat gold, a two-tone gold or another gold finish you would like?"
Enamels: Enamel is the colour on your geocoin. Most designs require at least one enamel but you may not want them at all. Your choices here can make a big difference to price. Price alters with type, amount and colour.
99% of enamels used today are imitation enamel due to the cost. Imitation enamels are plastic instead of glass. They are applied by hand to each geocoin and come in several types. The main two versions of imitation enamel are soft and hard. Soft is the cheapest option and often looks like a painted surface on the geocoin. It can be used to great affect to highlight shapes and texture. Hard imitation enamel is used to fill an area on the geocoin and leaves a flat even surface where applied. There are limitations to where hard enamel can be used and although widely used on geocoins soft enamel is more common.
Both hard and soft enamels come in a huge range of colours and also in special finishes such as glitter, glow in the dark or translucent.
Most geocoin producers are unable to provide genuine glass enamels anymore but if you wish Geocoins R Us can provide this service.
Size: One thing that seems obvious but is often forgotten is size. Both diameter and thickness can greatly affect the cost of your coin, basically the bigger it is the more it will cost! Size also affects postage costs (see import costs).
Shape: Simply put a round geocoin is normally cheaper than a random or complex shaped coin but a rectangle or square coin may cost no more than a round coin of the same size. Geocoins R Us produce a range of shapes and are happy to guide you on this part of the process.
Production run size: The production run is the amount of geocoins of a design you have made in one go. The more you have made the lower the cost per item. For example, a production run of 50 coins may be priced at £4.50 per geocoin, a production run of 100 of the identical coin may cost £4.25 per geocoin, while a run of 300 coins may only cost £4.00 per geocoin. So put simply, the more you make the cheaper they are. However this is purely on total numbers made, you can have several versions made within this run (different enamels, finishes, etc).
UK shipping: Sending the geocoins to you once the order has been quality checked. We do this by Special delivery in the UK and Tracked and Signed to all other locations. (Please note; if the delivery address is outside of the E.E.A. (E.U.) then you will be charged additional import taxes by your country. These charges are your responsibility.)
This is the group nobody likes, it is shipping and taxes.
Shipping from the Factory: Shipping the geocoins to the UK is not free (we wish it was!). There is no simple calculation to work out the price in advance. Due to the weight of geocoins they need to be shipped by courier. The couriers work out the price of shipping based on weight, size, distance of travel and air fuel costs on the day of shipping. Geocoins R US have a contract with one of the worlds leading and biggest courier services. This provides us with much cheaper shipping rates than standard and we pass all these savings on to you. As a very rough guideline to ship 300 geocoins costs about £200, 200 geocoins costs about £180 and 100 geocoins costs about £150.
Tax: VAT and import duties have to be paid on all products imported to the UK, VAT is charged on both the value of the contents of a package and on the postage costs. The value is not the price you have paid but the value the UK Government think the contents are worth!
Geocoin Cost Example:
To help you work out the cost of geocoin production here is an example of the costs involved:
Customer requires a 45mm round geocoin, 3mm thick and has 5 colours in hard enamels and 1 glitter enamel in the design. The customer decides they want an icon, an icon designing for them and a total of 200 geocoins in four different finishes. It is a simple design and they use Geocoins R Us designers for free.
Mold - £120
Tracking numbers - £240
Icon - £120
Icon design - £40
Samples - £20
Admin Fee - £50
(Total set fees - £590)
The cost of the coin in 4 different finishes with 6 enamels is an average of £4.00 per coin. This is a total of £800
Shipping - £180
VAT and other import charges - £230
(Total import fees - £410)
The overall cost for production of this geocoin is £1800. This is £9.00 per coin
If 300 coins of the same design had been made the total cost would have been :
Set fees: £710 (due to additional tracking codes)
Variable fees - £1140
Import fees - £450
Overall - £2300 or £7.66 per coin
Our new TT Geocoins are micro sized and much cheaper than our standard geocoins so offer a viable alternative to those on a tight budget.
Each coin is 22mm in diameter and 3mm thick. The design is single sided with "Track at Geocaching.com" and the tracking code engraved on the back. They can also be made with or without a hole for a keyring clip.
The price per TT geocoin works out in the area of £4 each including tracking code,production, a keyring clip and delivery. However, please remember that the price can vary as all the costs involved in production of a standard geocoin affect the TT geocoins in the same way.
Two sided TT geocoins can also be produced.