Topic: [SOLD OUT] Silver Wallets - A New Kind of Physical Storage - page 12. (Read 26194 times)

The sale is hereby over.

You can just ask them to declare the item for a lower price...

Never had any problems with my 2 silverwallets, no vat or import taxes whatsoever

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You missed the auction, forgot to bid or got outbid without knowing? Don't worry, all coins are currently 5% off. Get yours now.

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Yes, these are still shipped from the US. The value is set roughly at it's value in silver.

Are they still shipped from US ? If so, what is the package value on customs declaration - full price or is it buyer friendly? EU shipping.
Thanks

Interested in one of these bad boys.

Gold/Silver 

No worries at all, and i have no issues with people asking this sort of stuff. I will make a more detailed post on all of the extra costs that are involved. We do make some profit, but it is less than you are guessing.

kingcolex have you ever had a coin minted?

You're so far off in your estimates, it's apples to kumquats.

First, the pricing PDF you showcased is for their discounted minting program for Military/Schools/Non-profits, which obviously does not fit.  The correct pricing guide would be here:  http://silvertownemint.com/Portals/0/PDF/custom%20prices.pdf

Second, back in 2014 when these were actually minted, silver was around $20/ounce, highs close to $30 depending on when it was bought, not today's price of just under $16.  Add for each round over spot at least $1, plus the charges for the blanks which is $2.50 from Silvertowne.  You're up in the mid-twenties at least already per round before anything else.

Custom dies can go anywhere from $200 - $5000 depending on intricacy.  Let's take a reasonable price for the dies, say $1500 for the front, because the Gen2 design was more intricate, and $500 for the back.  Pray you don't crack a die and have to re-create another set.  Typically you'll create two sets just in case for that very reason.

Each round comes with a set of 3 holograms, which as stated were around $1 each, so $3 per round, or $3000 for the batch.

There is a fee for the actual minting run, usually $250 - 500.  Not much, but we'll toss it in there.

Any idea how much it costs to package in capsules 1000 ounces of silver, then in tubes and boxes, and then ship it, oh, BTW, insured?  Tack on another easy $3000.  This is before any shipping cost back out to the buyer.

At this point you're up double what you initially thought it would cost.  For just materials.  No labor, no other incidentals for the process, not counting anyone's time.  It's a far cry from the estimate you thought, and the profit margin has also shrunk quite much.

Oh, and this:
Dream on.  There is no "smoother" part about the minting process.  All the above is a hard, set price, no matter whether you're minting your 3rd, or 300th batch of coins.  You get breaks on quantity of coins in the actual order, not the minting batch.  Even at 10k rounds, you're probably only shaving off a dollar or two from the cost of the silver blank, if you're lucky.

Well a couple of things...
It takes a lot of time and effort to make your own coins and it is expensive. If you look at every physical coin made for crypto all of the nicer made ones carry a large premium because of the expenses involved. When you mint a copper or brass coin everything is less...dies are cheaper, materials, etc.. If you have any other questions feel free to ask though!

Those are chinese fakes possibly only silver plated , AFAIK .25 BTC was only minted in 2013, and .10 BTC in 2014.

Original coins were already mentioned on our forum:

https://bitcointalk.org/index.php?topic=269535.0;all

You forgot about the fact that we are in a free market. Anyone selling anything is going to sell above their costs. Period. They are not acting as a chairity nor is anyone else on the forum (for the most part).

If you think you can sell better coins then you should create better ones and sell them for less.

We mint only 1000 coins per style - Custom dies cost a couple thousand dollars to make. Each coin requires 2 dies...1 for the front and 1 for the back. Who do you know that can buy silver at spot prices? We pay over spot when making our coins and also pay for each run to be minted. The "stickers" are custom made security holograms and are very expensive to have made. You need to have a custom die made to make them, and that is not cheap...we pay almost $1 per hologram and include 3 per coin. We do obviously have some profit in our pricing or why else would be doing all of this?

"I know i wouldn't buy one from someone I didn't trust" - The whole point of these is you not having to trust anyone...you make your own keys and attach the hologram.

Please show me where these have been counterfeited?

The price is going down. Be smart and store some of your net worth in pretty silver coins that you can be used as a paper wallet!

Hey Mitchell, I've updated the OP just now . I did notice that the order thread is still active. Maybe it needs lock to prevent confusion? Cool that you are the seller now, blazedout is trusted, but a forum staff member allways increases trust You can check out my thread here

We use a flat free for all international shipment. This means it will be (a bit) pricier in some countries and (a bit) cheaper in others.

I wanted to stop buying physicals... but as it will be probably shiny I will have to buy it...

I don't get it...why is shipping to Canada $13? That's alot.

Speaking of 3rd design...We started the process and are at the rendering stages