Post by Owen Edwards on Jan 12, 2015 8:38:52 GMT -6
Hi guys,
I'm really sorry for the delays on my part re my Talossan responsibilities these last 6 weeks - *insert true but frustratingly inadequate excuses here*. Thanks for your patience.
Here's the coin project status – I have most preparatory issues nailed down (funding system, various minting quotes, possible distribution routes – the designs were obviously nailed down a while ago), but a public survey is required before I go ahead. I'll go through the items listed above one by one and explain the current question marks:
1) FUNDRAISING SYSTEM: Indiegogo is what we're going for, because of its flexible target system, ease of use by a UK user, and to some degree increased flexibility in how you actually raise funds. The plan would be to use this as a initial sales platform – each buyer buying a collection of coins at cost and paying postage.
2) MINTING: So here's the single biggest question – ceramic or metal. Exchange rate is L1=US$1.5. Having the coins minted in brass or another alloy will cost a large lump payment (couple hundred US dollars) for the mould and then between $3 and $4 a coin, from the quotes I've gathered. I think, given the investment the mould represents, government money being spent on the mould could be justified (from the budget); however, this is a significant cost per coin, well beyond the exchange rate itself. That doesn't mean it's a no-no – we're not seeking to set up a full-blown economy here – but it is something to consider. Ceramic challenge coins, on the other hand, often cost $0.75-1 per coin and don't require a mould to be cast. They're colourful and attractive – but won't *feel* the same as metal coins, and may come off as phoney (though hopefully not). [Minting a surplus for future sale is also obviously a consideration, but when/how/how many is dependent on a few factors.]
3) DISTRIBUTION SYSTEM: If our customers are chiefly in the US, it'd make sense to have the coins (when made) shipped out from the US, possibly by the Burgermeister, who also runs the stamp sales. This would also save any US-to-UK shipping cost from the manufacturer to me, which would obviously come out of the government budget. But if our customers are chiefly international, it'd probably make more sense for the coins to be shipped from somewhere less protectionist than the US.
So the two questions I have are: what do people want the coins minted in; and where are likely customers located, so as to inform distribution choices? With those decisions made, the actual turn around on proofing, minting, and postage is actually a matter of weeks (say, 3-6).
Thanks,
Owen
MinFin
I'm really sorry for the delays on my part re my Talossan responsibilities these last 6 weeks - *insert true but frustratingly inadequate excuses here*. Thanks for your patience.
Here's the coin project status – I have most preparatory issues nailed down (funding system, various minting quotes, possible distribution routes – the designs were obviously nailed down a while ago), but a public survey is required before I go ahead. I'll go through the items listed above one by one and explain the current question marks:
1) FUNDRAISING SYSTEM: Indiegogo is what we're going for, because of its flexible target system, ease of use by a UK user, and to some degree increased flexibility in how you actually raise funds. The plan would be to use this as a initial sales platform – each buyer buying a collection of coins at cost and paying postage.
2) MINTING: So here's the single biggest question – ceramic or metal. Exchange rate is L1=US$1.5. Having the coins minted in brass or another alloy will cost a large lump payment (couple hundred US dollars) for the mould and then between $3 and $4 a coin, from the quotes I've gathered. I think, given the investment the mould represents, government money being spent on the mould could be justified (from the budget); however, this is a significant cost per coin, well beyond the exchange rate itself. That doesn't mean it's a no-no – we're not seeking to set up a full-blown economy here – but it is something to consider. Ceramic challenge coins, on the other hand, often cost $0.75-1 per coin and don't require a mould to be cast. They're colourful and attractive – but won't *feel* the same as metal coins, and may come off as phoney (though hopefully not). [Minting a surplus for future sale is also obviously a consideration, but when/how/how many is dependent on a few factors.]
3) DISTRIBUTION SYSTEM: If our customers are chiefly in the US, it'd make sense to have the coins (when made) shipped out from the US, possibly by the Burgermeister, who also runs the stamp sales. This would also save any US-to-UK shipping cost from the manufacturer to me, which would obviously come out of the government budget. But if our customers are chiefly international, it'd probably make more sense for the coins to be shipped from somewhere less protectionist than the US.
So the two questions I have are: what do people want the coins minted in; and where are likely customers located, so as to inform distribution choices? With those decisions made, the actual turn around on proofing, minting, and postage is actually a matter of weeks (say, 3-6).
Thanks,
Owen
MinFin