Topic: Official Auction For Our 2 Ounce Solid Gold (5 BTC) Coin #2 - Ends 30th November (Read 4517 times)

me want

I would like to see an auction where the minimum bid is something like $10 then you will see what the actual true value people are willing to pay for your coins is when you use an auction.

Perhaps you get people to buy coins from your website. I certainly do. But it is nice to give the market a chance to set the price as well. That is what an auction to me was designed for.

Hopefully coinographic considers doing something like this which I do on a weekly basis with my auctions.

Agreed.  Beautiful coin, but too rich for my blood.  The 15 BTC auction went without a bidder both here and litecointalk IIRC.  I'd be very surprised if someone bids 18 BTC for this considering its not a #1 and they could have bought one then for less.

To the OP..if you lower your prices for these considerably, I have no doubt they will sell better.  Its a gorgeous coin that many have stated.

TitanBTC sells gold coins for about $475 premium, but these are give or take 6 BTC extra after taking away the gold and BTC value.  Coupled with the fact that not everyone has 18 BTC they are willing or able to spend.  The physical coin market isnt that hot either at the moment.

I would like to bid , but it is  expensive for me . I'm only watching who will win.

Less than 1 hour left!

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Good call.  Glad to see you're listening to your customers.

I still think 15 BTC minimum still leaves a high premium of 4 BTC, but its a step in the right direction. 

I appreciate the quality in your coins and boxes, but hope you find some way to save costs so the prices are more in line with the market.  There's probably only a handful of people who can afford to pay what amounts to $6000 (give or take) on a coin, but nobody wants to feel like they're overpaying too much.

Due to requests we have started an action for coin #4 - https://bitcointalksearch.org/topic/official-auction-for-our-2-ounce-solid-gold-5-btc-coin-4-ends-19th-october-826528

This auction will be much shorter and run for only 3 days.  The starting bid on this auction is only 15 BTC.

We will also be running this experiment over on litecointalk for coin #5

The purpose of these auctions is to try and gauge the public opinion for the pricing of the coin. 

If its apparent that people are not willing to pay the listed price on the website then we will have to change suppliers for some of the coin's components and try and reduce the production cost, in order to pass the savings onto our customers

Thank you

The problem is we don't know what the exchange rate will be on Nov. 30. It is too far away. Most likely someone will get hosed if they bid early on this. Either you bid early and end up paying too much, or someone will simply out bid you when it is close enough to the end of the auction.

OP, please change the end date of this auction.

This ^

I agree the premium is way out of whack.  Great looking coin though!

I do get that. But I guess their target market for this coin is different to their target market of other coins. I would definitely love to buy this coin, but we'll see how things go

I personally cant justify spending the premium.  If I wanted a gold coin, TitanBTC sells one at a $450 premium or so, less the box. The other costs are similar I believe.  Thats roughly 1 BTC at TitanBTC vs 7 BTC premium here.   

It seems that maybe they've sold 3+ in total according to their website, so perhaps the market agrees.  Its a lot to begin with, but the premium doesn't help.

The premium is definitely not high. It's about 3.15BTC per ounce of gold. Multiply that by 2, that's 6.3BTC. Then add 5BTC face value. 11.3BTC. Then there is the mould, the hologram, the box, mint costs and mark up. It's extremely reasonable.

Awesome design. very nice coin. But premium is too high.

Nice coin but the premium is very high. 18 btc is like $7k but this coin is only 2 ounces of gold, which is $2500 plus 5btc.

This is easily the best physical coin design I have seen yet. Very good work.

Thank you for your comment.  We are very excited to be producing this coin

Same here, that's a stunning coin!

Beautiful coin.  Wish I could afford it.

We are pleased to announce that today our 2 ounce gold (5 BTC) Limited edition coin has gone into production.  You can read more information about the coin on our website - http://www.coinographic.com/5-btc-gold.

Coin #1 will be sent to Mr BAU (the winner of the design contest) as his prize for this fantastic design that you see before you.

This is the offical auction for Coin #2, the lowest number coin to be publically available. 

Coin #3 - #100 are available to pre-order from our website - http://www.coinographic.com/5-btc-gold.

We are due to have the coins in stock before the end of November. 



This auction will run from now until 22:00 (forum time) on the 30th November.  Please be sure to read our Auction Procedure below before you place a bid.

To place a bid please use the following format;

I Bid 18 BTC

The above would mean you have bid 18 Bitcoins on the coin (Limited Edition #2) of our solid gold bitcoin - http://www.coinographic.com/5-btc-gold. 




Auction Procedure

1) You are only permitted to bid once per post

2) The minimum bid is 18 BTC.

3) The Auction will close at the 22:00 (forum time) on the 30th November provided there are no new successful bids during the 5 minutes immediately preceding 22:00 on the 30th November.

4) Any successful bids within 5 minutes of the auction close time (21:55 – 22:00) will extend the auction by a further 5 minutes; the auction will continue to extend in 5 minute increments until there are no more bids within the 5 minute refresh period. 

For example;

A bid placed  at 21:58 will extend the auction for the coin until 22:03.  If a further bid is placed before 22:03 it will extend by a further 5 minutes.  This will continue until there are no more bids within the 5 minute refresh period.  At that point the auction  will end and the winner will be allocated.

5) If you are the Winning Bidder of this auction, you will be obliged to complete the transaction and purchase that item within 72 hours of the auction close.





Processing and Technical Errors

In the event of errors in processing and/or site downtime or any other errors or delays caused to the site and/ or Service as a result of unforeseen technological difficulties associated with servers, data hosting or any other reason, we hereby reserve the right to:

a)   decide (prior to or after the original time set for conclusion of the online auction) to extend an online auction for a period of time (determined at our discretion); and/or,
b)   void that entire online auction transaction and open the auction again at the original start prices


Thank you