ITEM #2: 1 Troy oz 999 Fine Silver 25 LTC Lealana Litecoin
Also I am offering a 1 troy oz silver 25 LTC Lealana Litecoin as seen below. There is no cap on orders for this item as well. Capsule, COA, and black single-coin leatherette are included.
PRICE (1 oz): 63 LTC or 1.98BTC each
BULK PRICING (20 coins): 1,134 LTC or 35.64 BTC
Okay, so....
Using an average of $2.7 usd per ltc.
To get a set of twenty coins in one ounce.
25 ltc * 20 coins = 500 ltc
20 oz silver * 20 usd per oz. = $400 usd divided by 2.7 per ltc = 148 ltc
648 ltc total in silver and litecoins for a
profit to smoothie of 486 ltc/$1312 USD per 20 coins.
OR $65.61 usd/ 24.6 ltc profit per coin.
Sorry I'll just buy generic silver at these insane prices.
tl;dr
I support smoothie in the beginning. But for these prices I can mint my own. He coins aren't collectible yet and at these prices I don't ever see them as collectable.
g/l
Hi,
I agree the prices are too high, $65+ profit per coin is slightly absurd (that's $65,000 usd after selling all 1000 coins.) Since I was going to make my own coins, I know how much it costs to make these and I can confirm he is making a healthy profit. However, he basically has no competition so he can charge whatever he wants. I am slightly saddened that I gave up my project and now Smoothie can set whatever price he wants. Perhaps I will pick up my physical Litecoin project back up in the near future and force Smoothie to come down on his prices.
I too would love to own one of these, but not at these prices. In comparison, I was going to charge about $15 profit per coin... Smoothie is at about $65+. He can no longer say he's doing it for the good of Litecoin, because he is doing it for the $$$.
My two satoshis, I expect this to be deleted soon...