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Topic: [SOLD OUT] Silver Wallets - A New Kind of Physical Storage - page 12. (Read 26186 times)

copper member
Activity: 3948
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Verified awesomeness ✔
The sale is hereby over.
legendary
Activity: 1162
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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 Smiley
Yes, these are still shipped from the US. The value is set roughly at it's value in silver.

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

You can just ask them to declare the item for a lower price...
legendary
Activity: 938
Merit: 1000
BTC | LTC | XLM | VEN | ARDR
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 Smiley
Yes, these are still shipped from the US. The value is set roughly at it's value in silver.

Never had any problems with my 2 silverwallets, no vat or import taxes whatsoever Smiley
copper member
Activity: 3948
Merit: 2201
Verified awesomeness ✔

Sale!


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


copper member
Activity: 3948
Merit: 2201
Verified awesomeness ✔
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 Smiley
Yes, these are still shipped from the US. The value is set roughly at it's value in silver.
full member
Activity: 170
Merit: 100
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 Smiley
hero member
Activity: 728
Merit: 500
Interested in one of these bad boys.

Gold/Silver  Cool
legendary
Activity: 2128
Merit: 1119
kingcolex have you ever had a coin minted?
No and I am not trying to offend or be a dick, all I was doing was trying to say why this isn't the best way to invest in both silver and bitcoin. I understand it is expensive, mentally exhausting and time intensive. I get this was hard another thing I was saying was I wouldn't spend 75$ per coin and that is fine it is just my opinion and others obviously are willing to, I personally feel a 40$ range would be more fair but this isn't me saying I am  a coin minter and I can do this for 40$ but I am just looking from the outside in as a silverbug. I really feel as I am coming off hostile while I most definitely am not, sorry if it is taken that way.

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.
legendary
Activity: 2128
Merit: 1119
kingcolex have you ever had a coin minted?
sr. member
Activity: 322
Merit: 250

So lets take 1000 coins and your paying less than 1$ over spot so 17.70, thats still a pretty big venture of 17,700 right now, making a die so probably 200ish(x2 forgot two sides but the back side is very simple so cheap and the front could be more) so 18,300 and printing 2500. So we have a grand cost total of 20,600$ to at least break even you need to sell these at 20.60$ without shipping everything plus is profit (not counting labor) so we now have your price of 75$  so a profit of around 54.40$ a coin that time 1000 brings a nice possible profit of 54,400.
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:
Quote
especially since this is the third design and everything is going smoother and probably better rates.
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.

legendary
Activity: 2128
Merit: 1119
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.
Woah hey I totally understand and I see why people are willing to buy them but when someone said that BTC was dipping and you should put some in silver I was just pointing out the negative sides of that statement as this isn't how you invest in silver. This is a token showing your love for both Silver and Bitcoin and paying a large premium is fine I was just saying I think it's too high personally and would rather not.

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!
full member
Activity: 170
Merit: 100

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

copper member
Activity: 2996
Merit: 2374
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.
legendary
Activity: 2128
Merit: 1119
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!
So is the price for silver, but I don't understand I get it that a custom stamp is expensive but generics aren't that expensive not enough for a 60$ premium. I get it 10k mintage is pretty low and average an I am sure this is a lot less than 10k probably more around 1k but still it shouldn't jump that high and a 1$ sticker isn't the main issue here either that and the stamp is being used on counterfeits makes these a bit harder to resale, I know i wouldn't buy one from someone I didn't trust.

TL;DR Too expensive for a generic silver coin that is already being counterfeited and sold for 2-3$ and makes it a sketchy resale.

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?
copper member
Activity: 3948
Merit: 2201
Verified awesomeness ✔
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!
legendary
Activity: 938
Merit: 1000
BTC | LTC | XLM | VEN | ARDR
Hey Mitchell, I've updated the OP just now Smiley. 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 Smiley You can check out my thread here

copper member
Activity: 3948
Merit: 2201
Verified awesomeness ✔
I don't get it...why is shipping to Canada $13? That's alot.
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.
legendary
Activity: 1162
Merit: 1001
Speaking of 3rd design...We started the process and are at the rendering stages  Cool

I wanted to stop buying physicals... but as it will be probably shiny I will have to buy it...
sr. member
Activity: 350
Merit: 250
I don't get it...why is shipping to Canada $13? That's alot.
legendary
Activity: 2128
Merit: 1119
Speaking of 3rd design...We started the process and are at the rendering stages  Cool
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