Topic: Bitcoin silver 1oz custom coin... gauging demand - page 2. (Read 9511 times)
I think that depends on the price of a bitcoin, if it ever reaches the values the bulls are hoping for you might use silver, or even gold
Some requests have been made for Casascius Physical Bitcoins in silver.
To me it is completely crazy. But so is the markup people are apparently willing to pay.
This would be for very high denomination pieces, like 100 or 500 BTC. So they would be paying a price that includes both the bitcoins, the silver, and the markup.
How many rounds does it take to make a run worthwhile? I can add the BTC value, the only minor oddity being that my holograms are gold, not silver.
To me it is completely crazy. But so is the markup people are apparently willing to pay.
This would be for very high denomination pieces, like 100 or 500 BTC. So they would be paying a price that includes both the bitcoins, the silver, and the markup.
How many rounds does it take to make a run worthwhile? I can add the BTC value, the only minor oddity being that my holograms are gold, not silver.
I don't think it's worth it for what you do. You are niche and an awesome market. Because of the fluctuation of the market, no, I don't think it would be viable, but what do I know. You put an actual value on the coin itself, but the metal could be worth greatly more of greatly less. I suppose it is the same as the US mint stamping $50 gold pieces right now but that is a collectors fair. I would rather see a 1oz silver bitcoin without a value attached to it as a collector/novelty/asset item than one that has a value associated with it that I'll pay a premium for on top of the silver.
Some requests have been made for Casascius Physical Bitcoins in silver.
To me it is completely crazy. But so is the markup people are apparently willing to pay.
This would be for very high denomination pieces, like 100 or 500 BTC. So they would be paying a price that includes both the bitcoins, the silver, and the markup.
How many rounds does it take to make a run worthwhile? I can add the BTC value, the only minor oddity being that my holograms are gold, not silver.
To me it is completely crazy. But so is the markup people are apparently willing to pay.
This would be for very high denomination pieces, like 100 or 500 BTC. So they would be paying a price that includes both the bitcoins, the silver, and the markup.
How many rounds does it take to make a run worthwhile? I can add the BTC value, the only minor oddity being that my holograms are gold, not silver.
I would be willing to pay the value of what its weight in silver is.
Precious metal coins are generally only ever worth their weight. (I used to trade in 1oz gold coins).
Precious metal coins are generally only ever worth their weight. (I used to trade in 1oz gold coins).
This is the reason why these coins don't exist. I guess people want someone to pay the markup on silver, fees to have the dyes cast, and the labor costs in order to sell them a coin at the raw value of materials? That's like going to a restaurant and telling them you'll only pay $0.25 for the deer special because that's how much the shell cost that killed it.
Whenever demand is high premiums for physical silver often jumps upto 100%, coin dealers are greedy bastards. I used to buy at one every month, a random 1oz round, I always was trying picking out philharmonics, then they were suddenly gone and he sold philharmonics & maples extra, for a higher price.
(Those were all circulated coins)
I would be willing to pay the value of what its weight in silver is.
Precious metal coins are generally only ever worth their weight. (I used to trade in 1oz gold coins).
Precious metal coins are generally only ever worth their weight. (I used to trade in 1oz gold coins).
This is the reason why these coins don't exist. I guess people want someone to pay the markup on silver, fees to have the dyes cast, and the labor costs in order to sell them a coin at the raw value of materials? That's like going to a restaurant and telling them you'll only pay $0.25 for the deer special because that's how much the shell cost that killed it.
I would be willing to pay the value of what its weight in silver is.
Precious metal coins are generally only ever worth their weight. (I used to trade in 1oz gold coins).
Precious metal coins are generally only ever worth their weight. (I used to trade in 1oz gold coins).
Why exactly would someone sell a 1 oz silver coin for value of 1 oz silver? Did you think this out?
If you have traded in any bullion you would know coins never sell for equal to their spot price. Coinage cost money.
Some dude got imprisoned for what you're planning watch out lol. It's not illegal, but they got him anyway because he challenged the system.
No he didn't. He went to prison for making counterfeit coins. Nobody would mistake a bitcoin coin to be legal tender or US coinage.
I would be willing to pay the value of what its weight in silver is.
Precious metal coins are generally only ever worth their weight. (I used to trade in 1oz gold coins).
Precious metal coins are generally only ever worth their weight. (I used to trade in 1oz gold coins).
HAHAHAHA! No you didn't.
A minted precious metal coin is worth 5%-30% and sometimes higher because of its stamped value, condition, year and quantity minted. Coin retailers typically buy at 90% value from people looking to get rid of their coins. Unless your market trading or paper gold/silver trading very rarely does anyone ever pay spot value.
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Precious metal coins are generally only ever worth their weight. (I used to trade in 1oz gold coins).
If this is true and you bought at spot or below then you owned a 'chop shop' and shame on you. How many beautiful coins did you destroy?Philharmonics, American Eagles, Maples... All sell at ~6%+ new (typically from kitco I get 2009-2011 uncirculated).
https://online.kitco.com/bullion/completelist_USD.html
As long as it has a sane premium on the spot price and it says 1oZ .999 silver on it I'll buy one 
Looks really nice, but 42USD is pretty steep for my taste.
Gonna go with the 1g 999ers from mjb over on the other thread.
Gonna go with the 1g 999ers from mjb over on the other thread.
I was working with Mick on this 1 oz silver coin. We ultimately decided the demand wasn't high enough to warrant the bulk purchase. If anyone is interested in helping bring this coin to the market, feel free to contact me. I think a few dozen preorders would be enough to make this happen.
would buy / resell.
So is the OP still around?
I just checked his profile info for the last visit time, has logged in today. maybe we do not signal enough demand and this thread is not worth his attention ; )
I would be willing to pay the value of what its weight in silver is.
Precious metal coins are generally only ever worth their weight. (I used to trade in 1oz gold coins).
Precious metal coins are generally only ever worth their weight. (I used to trade in 1oz gold coins).
You got my attention, what about junk silver from europe with a bitcoin countermark stamped on it?
you woud have it for the spot price, no discount, I need to pay for the die.
And you can choose what old silver coinage to countermark for you.
have dutch gulden, german mark, austrian schilling, czechoslovak krowns.
I would be willing to pay the value of what its weight in silver is.
Precious metal coins are generally only ever worth their weight. (I used to trade in 1oz gold coins).
Precious metal coins are generally only ever worth their weight. (I used to trade in 1oz gold coins).
Wow, used to trade 1oz gold coins, huh? Then I'm sure you know that that anybody who is going to mint coins is going to expect to cover their minting costs PLUS the value of the metal, right? ...
I would be willing to pay the value of what its weight in silver is.
Precious metal coins are generally only ever worth their weight. (I used to trade in 1oz gold coins).
Precious metal coins are generally only ever worth their weight. (I used to trade in 1oz gold coins).
It is 100% legal to melt US silver coinage. ...
Currently it is illegal to melt copper pennies and nickels ...
Currently it is illegal to melt copper pennies and nickels ...
thanks a lot, your clarification was helpful. knowing that some melting is banned for sure I did not know where the line is what can/can not be melted. now i would write it more precisely after learning the difference.
Isn't melting money for scrap metal (w/o the proper license) a crime? Hoarding might be legally ok but the use is limited to resale. trying to recycle and purify the silver out of the pre 64 coins is often quote as a criminal act.
It is 100% legal to melt US silver coinage. All quarters, dimes and half dollars before 1964 (and the old silver dollars - Morgan and Peace dollars) were 90% silver, and you can melt them as much as you want.
Currently it is illegal to melt copper pennies and nickels, but many people are hoarding them because they are worth more in metal content than face value. (http://coinflation.com | http://coppergeek.com | http://www.crazycoinguy.com/) You can sell copper pennies above face value on eBay, the market price tends to be somewhere in between face value and melt value, to account for the fact that you can't currently melt or export them but most believe these laws will be eventually lifted just as it was for silver coins.
Hell just collect old dimes. Any dime older than 64 is worth almost $3 melted down.
Glad I started hording copper and silver coins some 20 years ago, wish I had checked even more as I went along than I did. Not sure how many pounds of copper pennies I have but I can barely pick it up.
Glad I started hording copper and silver coins some 20 years ago, wish I had checked even more as I went along than I did. Not sure how many pounds of copper pennies I have but I can barely pick it up.
Isn't melting money for scrap metal (w/o the proper license) a crime? Hoarding might be legally ok but the use is limited to resale. trying to recycle and purify the silver out of the pre 64 coins is often quote as a criminal act.
I simply bought some us junk coins few years ago. Not so easy to find silver dollars in circulation in EU ; )
the silver quality should be imprinted
I think i would buy one for an reasonable price (maybe 10 - 15 % over spot) and if you consider also sending it to god old Europe
I think i would buy one for an reasonable price (maybe 10 - 15 % over spot) and if you consider also sending it to god old Europe
just make sure you stay under the customs/tax limit when ordering, 2-3 max or you end up paying taxes on silver import. this would be immediately 20% to the value of the shipped rounds.
So is the OP still around? I haven't heard a thing on this since my first comment... I'd buy a few in a heartbeat as long as they aren't ridiculously high above spot. Been looking to get heavier into precious metals anyway.
Hell just collect old dimes. Any dime older than 64 is worth almost $3 melted down.
Glad I started hording copper and silver coins some 20 years ago, wish I had checked even more as I went along than I did. Not sure how many pounds of copper pennies I have but I can barely pick it up.
So is the OP still around? I haven't heard a thing on this since my first comment... I'd buy a few in a heartbeat as long as they aren't ridiculously high above spot. Been looking to get heavier into precious metals anyway.
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