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Project: Online Coin Club

CategoryBetter Knowledge
NameOnline Coin Club

The goal of this project is to create a comprehensive database of the world's coins: known characteristics, mintage, design, pricing etc. For collectors and dealers, it should also provide facilities to manage collections, sales and exchanges between members.

More detail in bullet-points below.

1. The site

- will have a comprehensive database of world coins, including their descriptions, dimensions, mintage, varieties etc.

- for each coins, there will be a price guide available based on grades, known sales and catalogue values; historical figures will show the development of these over time, to allow purchase decisions based on facts

- online community will help grow the database and comment on coins

- collectors and dealers will be able to use it as a platform to manage their collections / inventories in terms of what they have, what they want to have, past purchases, sales etc.

- the site will facilitate both the exchanging of coins between collectors and the sale of coins by dealers to collectors (or other dealers) avoiding the massive fees now paid to online marketplaces

- the site will also server as a hub of general information pertinent to coins - for example, a web directory linking to the sites of mints, dealers, all sort of sources of information

2. Development priorities

- developing site functionality (listing of coins, search, member communications, collection management etc.)

- collecting data on modern circulation coins, Mediaeval / Ancient coins, old tokens, bullion coins, non-circulation legal tender, modern tokens and other (in this order)

- building up of a community

- building a sustainable business based on the above which will be able to (at least) support the site

3. Community

- seeking help from individual collectors, dealers, numismatic clubs and institutions (such as mints, museums...)

4. Business and development model

- since it is not equitable to ask volunteers to help a project and then monetise it with barely a "thank you" for their help, the ambition of this project is to pioneer a model whereby everyone who makes a considerable contribution to it will become a co-owner of the end product. Details to be discussed and arranged between members.

- how will the site make money? Coin dealers will be charged a small, limited fee (not based on actual sales but on number of listings) which they will be able to pay either in money or "in kind", i.e. by sending some of their overstock coins to the maintainers of the site. As a "ballpark estimate", something in the region of $20/month if they have more than 1000 listings. If they have fewer listings, an alternative will need to be thought of.

5. World domination plan

- after this site gets successful, expand it to banknote collecting, then stamp collecting

6. Current status

- one founder / programmer

- backend functionality 60% done

- frontend functionality 5% done

- (general) data only entered for Australian and some UK coins

InvitingNew members welcome.
My status Not a member (click here to sign up and apply)
Date createdJune 24, 2015, 1:59 p.m.
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