Custom coins with cases, pouches and more.
U.S. military personnel aren’t the only ones who are receiving challenge coins these days. More and more companies are using challenge coins as a reward for employees who step up during recent projects. It’s a nice memento as well as a token of esteem because not everyone receives the coins.
For more than 20 years, The Monterey Company has been creating challenge coins for U.S. military, police and fire personnel. At the same time, they’ve also created corporate coins for Fortune 500 companies such as Hershey’s Chocolate. Yet lately, they’ve noticed an increase in demand for corporate challenge coins.
Companies are in fact putting a value to these coins, much like monetary value. The more coins you have, the more esteemed you are in the company (which can later lead to promotions, raises, and bonuses).
“These coins are a big deal in today’s corporate culture,” said one customer. “During a recession, we cannot offer raises or bonuses, but we still need to get quality work from our employees. With these coins, we help identify the standouts, that we’ll give monetary rewards later–when the economy improves.”
Most of these coins are 1.50 to 2 inches round, made of bronze, silver or gold, with the company logo on one side and the project name on the other. Around the edges, the companies generally include traits they’d like to reinforce, such as passion, courage, and commitment.
These company coins can get pretty ornate, said one Monterey Company designer, featuring multiple colors, 3-D (raised and recessed metal), cutouts and sandblasting.
The purpose of the coin is to make each recipient feel special, said one customer, so the better it looks, the more likely they are to want to earn one and hold onto it.
Many companies also make a big deal about presenting these coins. The Monterey Company offers the choice of a clear coin case, a velvet pouch or a velvet box (ranging from .50 cents to $3.20 each). Then the coins are given by the project leaders at company sales meetings, banquets or events.