HomeNews Chamber of Commerce ‘Butte Bucks’ come with a new twist
Chamber of Commerce ‘Butte Bucks’ come with a new twist
Written by Mark Reaman
Wednesday, 28 November 2012
The official coin of the 2013...fireworks?
The Butte Bucks promotion that is meant to spur business at local stores is slated to start in early December and will come with a few changes.
The biggest change is that the bucks will actually be coins. The Crested Butte-Mt. Crested Butte Chamber of Commerce has commissioned 2,500 coins from a mint in Fredericksburg, Va. Coins can be purchased for $8 each and then redeemed at local businesses for $10 each. “These things will look pretty cool,” said chamber director Dan Marshall. “They are about the same size as a 50-cent piece and are a true minted coin. People might want to use them as gifts for someone to use, or these are something that people could even collect.” Marshall noted the unique coins are imprinted with a view of the town of Crested Butte on one side and Mt. Crested Butte on the other. “They could use this coin next summer to see who does the fireworks,” quipped Marshall. Marshall explained that all area businesses may choose to participate in the program. Each participating business is given a sticker signifying their involvement. Patrons can then use the Butte Buck coins they purchased to shop locally at a 20 percent discount. A year ago, approximately 40 local businesses took part in the program, which will this year cost them $25 each. “Obviously the more the better,” said Marshall. “It’s the businesses that give the program viability and we think this helps spur an increase in local shopping opportunities. The local shop owners get more business without having to provide a discount themselves and people can still get a deal.” The two towns make up the shortfall between the discount and the retail value. Crested Butte donated $6,000 to the program this winter, while Mt. Crested Butte gave $3,000. “The two towns are big supporters of the promotions,” said Marshall. “The beauty of the coins is that we have them come back in—then we can use them and redistribute them in the future.” The chamber will distribute $25,000 in Butte Bucks for this winter season. The coins cost the chamber about $2 each and the mold will be saved in case more coins need to be minted down the road. Marshall says many such coins get taken out of circulation since people hold on to them as collectibles. That, in essence, is money to the program. People can buy $100 worth of the bucks at a time and are limited to that amount each day. The goal is to spread the wealth around as much as possible and get the coins in the hands of both locals and visitors. Marshall hopes the coins will arrive at his office sometime next week and he wants to get them out and working immediately. “As soon as they arrive from Fredericksburg, we’ll roll them out through the holidays,” he promised.