Got to love Seth Chandler, "San Francisco coin collector launches $10,000 scavenger hunt ........."
Goldbully
Posts: 17,096 βββββ
Now this man is really doing a great thing for our hobby.
Kudos to Seth Chandler.
ππ
Daily Mail UK
San Francisco coin collector launches $10,000 scavenger hunt to find rare dollars and pennies
A coin collector in San Francisco is hiding $10,000 worth of rare coins around town for people to uncover.
Seth Chandler set up the scavenger hunt, which began on Friday, to get more people interested in collecting coins and to educate them.
He owns Witter Coin in the Marina District and is giving away five gold, five silver and one copper coin which each range from $250 to $2,500 in value.
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That's pretty nice.
A lot of folks will have fun with that.......
I wonder why Seth was described as a βcollectorβ, rather than a βdealerβ.
I also wonder how effective scavenger hunts really are at getting more people interested in collecting coins.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Genius marketing play. Resulted in a ton of free press - interviews with all the local TV affiliates.
Not free. Cost $10K.
And how much would it cost to run a TV commercial in the San Francisco market? Lot more than than $10k.
While true, thatβs beside the point. @Glen2022 was obviously correct in stating β Not free. Cost $10K.β
The fact that other publicity options might cost more doesnβt change that.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
The TV coverage was in fact free. Iβm sure Seth did not pay the TV stations or news outlets for the opportunity to be interviewed.
This is interesting to me as well. One issue with a scavenger hunt is that there are no more coins to find until the next hunt.
OK, youβre right. He got free TV coverage (due to having spent $10,000). Lucky for him that he didnβt have to spend $100,000 to get βfreeβ TV coverage.π
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I donβt think the goal was to get new people interested in coins. The goal was to let everyone in San Francisco who might be interested in coins, inherit a collection, want to stack some bullion, etc know that Witter Coin is out there.
That makes more sense.
Where are the clues?
Wayne
Kennedys are my quest...
US Coins & Jewelry in Houston did something very similar as well:
https://abc13.com/videoClip/us-coins-treasure-hunt-money/14737861/
I'm planning to go to SF and will look for these coins!
Didnβt someone do something similar ? Like 1909-s Vdbβs in change . I feel like a big shot spending wheat cents.
Seth - thats a great idea to promote coin collecting. Only problem is Seth is wearing a 49'er jersey - he should be wearing a Jet jersey...........haha
Following is a Youtube video of the Seth introducing the scavenger hunt:
https://www.youtube.com/shorts/1KJH42w0LGE?feature=share
I believe that the gesture is a net positive for the hobby.
Whether or not Sethβs primary motive was to get more people interested in coins, or market his business, I think that any type of public promotion of the hobby is good (Yes, even the nonsense articles about becoming a millionaire from searching pocket change).
That said, Seth is not an idiot and of course this is a fantastic marketing play for Witter coin. At the end of the day, coin collecting is a wonderful hobby that doesnβt get the same type of publicity as luxury cars, watches, or fine art. Thereβs a lot of money out there, and I approve of any play than might possibly result in the birth of a new collector, with the caveat thatβs not a gimmick that could have the opposite effect.
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Well said -DD
He makes a habit of that.π
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Although not a coin promotion.
Many,many years ago one of our local radio stations had this promotion to drum up new listeners. They would hide a pink and purple pill in a phonebooth,tree, or some such everyday place. Listeners would then through the day wait for clues to be broadcast. A prize was awarded to the locator of the "pill". This did drive interest to the radio station. Probably only lasted during each promotion period. Point bring these type of promotions, for at least on a temporary basis, do create buzz.
Anyone get lucky this weekend?
Winners announced
Seth really turned around that IHOP, that place used to be notorious, a true numismatist and a class act
This was a big story on every news channel and radio station in the Bay Area. @SethChandler is a marketing genius and a huge asset to the coin community. I consider every trip to his shop a personal scavenger hunt.
Tim
I like it. Good for all involved. Is tax included?π
Five minute interview on KPIX CBS News Bay Area.
I'm seeing smart marketing guy.
CBS News
IT'S California....So. You can believe if they get wind of it...it's going to be taxed.
As opposed to every other state with a state income tax? If they get income/gambling winnings/etc, reported they don't impose an income tax?
Chopmarked Trade Dollar Registry Set --- US & World Gold Showcase --- World Chopmark Showcase
Well this idea spurred interest when the "W" Quarters came out in 2019 and 2020, so why not? Good for him and some publicity as well. Taxes are the responsibility of the finder and that is who the governing authority will look to. Something positive in what too often is a sea of negativity.
More marketing from Seth C.
Here he pours $250k in raw gold coins on the carpet.
How do you introduce into circulation gold coins in this day and age? As soon as a store or someone charged with handling money see it or a silver coin without obvious matches with current circulating coins they'll pull it out and examine it. I can see maybe pennies would not stand out like a sore thumb however. Expect more calls as people who are listed on google in this field from people thinking that their coins will entitle them to a big payout.
Every year during coin week I put older, obsolete coinage into circulation. Rolls or bags of wheatbacks, buffalo nickels, ect. If just one person notices them and begins collecting, how could that be wrong? So yes, Seth did a very good thing.