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Author Topic: Interested in a commemorative .999 silver round?  (Read 711 times)
kgo
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June 16, 2011, 02:24:09 AM
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I noticed there are a lot of people in the bitcoin community interested in silver.  Several companies produce silver rounds.  These are one troy ounce 'coins' made with .999 percent pure silver.  Since they're not manufactured by the government, they're called rounds.  It turns out some of these companies will produce custom coins according to your specifications.

I was considering issuing a GLBSE stock with 100 shares at 2 BTC each, with the intent at producing 100 .999 silver 1 oz rounds with bitcoin artwork at a price somewhere between $40-50 per round.

In the event the issue isn't filled entirely within 3 months all BTC will be returned to the shareholders.

In the event that the issue is filled, and we don't have enough money to make the coins, due to fluctuating silver and BTC exchange rates, all BTC will be returned to shareholders after three months.  (Possibly a vote to see if we should wait.)

In the event that we have enough to buy more than 100 coins, the additional coins will be sold for BTC, with profits going back to the shareholders as dividends.

I would get 5 shares free of charge for coordinating the effort, meaning the actual shares issued to the general public would be 95 shares.

Is this something you would be interested in?  Do you have problems with the above terms?  Are there other things that I'm missing?  Is there a bigger demand than 95 shares?
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Ben Walsh (beamer)
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June 24, 2011, 09:45:56 AM
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Interesting idea and very creative - I like it.

Quick questions ...


What would be the cost of delivery of the coins ? Is it free and paid for from the 5 free shares you would take ? What about international customers ?
(I'm assuming you are proposing that the "company" merely represents a fund raising exercise rather than an asset-holding company)

Trust and reputation. As ever in Bitcoin, these are worth more than the Bitcoins themselves ;O)
Beyond your activity on this forum what trust/reputation have you built outside the forum ?

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