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Author Topic: Idea: gold coins with bitcoin logo?  (Read 10659 times)
Vinnie
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December 07, 2010, 06:19:30 PM
 #21

I'd be curious about how you would stop "counterfeiting" of coins, even solid gold coins in this sort of a situation?  You might rely upon the legal system to protect you, but I think you might find that backfiring on you as well if you tried, particularly as government usually guard the ability to coin metal as an exclusive right for themselves.

The same way current currency issuers do: update their design using cutting edge technology and destroy old tokens as they can get their hands on it. As far as counterfeiting gold rounds; who cares as long as they are real gold? What's stamped on the face of a gold coin only matters in that it is a mint's brand and tells users that it is what it says it is, gold. Outside of that you can stamp whatever you want on the gold coin. Stamp BTC 1,000,000,000,000 on it and it will still trade at the value of its gold content.

I could envision a government getting feisty about this. Technically, I think you can stay out of their way if you
  • Stay away from calling it "money"
  • Don't even make it remotely look like any government's currency
  • Don't distribute it via multi level marketing scams like Liberty Dollar
  • Don't make it a political statement and just stick to quietly issuing tokens and making the market for them

I don't claim to have the resources to implement this project. But it would be awesome if someone took it on!

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coinguy
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December 08, 2010, 12:01:10 AM
 #22

Stay away from calling it "money"
Exactly.

Don't even make it remotely look like any government's currency
Look is no difference, placing a digit means placing a value, generally people think of money. A logo, no big deal.

Don't distribute it via multi level marketing scams like Liberty Dollar
One person in charge of all distribution, create a non-profit business for it.

Don't make it a political statement and just stick to quietly issuing tokens and making the market for them
The value comes from what someone will pay for one.
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December 08, 2010, 02:39:24 AM
 #23

Wasn't somebody on this forum already selling some gold coins for bitcoin, just without the logo ?

Vinnie
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December 08, 2010, 03:33:01 AM
 #24

Wasn't somebody on this forum already selling some gold coins for bitcoin, just without the logo ?

If not, someone should be.

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nanaimogold
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December 08, 2010, 04:23:12 AM
 #25

Wasn't somebody on this forum already selling some gold coins for bitcoin, just without the logo ?

Sure, no problem. Maples shipped within Canada or USA. BTC accepted.

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December 08, 2010, 04:31:08 AM
 #26

Someone skilled in the jeweler should already begin to make souvenir gold coins with bitcoin logo.
And sell them for bitcoin.

There are three gold coin mints in Nanaimo. It's no big deal to have custom short runs produced.

It's not cheap though.

Why not Maples?

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Vinnie
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December 08, 2010, 05:52:08 AM
 #27


There are three gold coin mints in Nanaimo. It's no big deal to have custom short runs produced.

It's not cheap though.

Why not Maples?

I agree. Stick with established bullion and government issued gold and silver coins. Unless you have a ton of money burning a hole in your pocket.

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nanaimogold
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December 08, 2010, 07:29:21 AM
 #28

Don't you think it would be better to leave the government out of this? After all, they are the enemy and the reason we had to invent Bitcoin in the first place.

I used to sell a lot of these;
http://lynncoins.com/1gramjohnsonmatthey.jpg

They look nice and were cheap, only ~$3 premium back then. My wife had rings and necklaces made up that were pretty cool.

There are lots of other options though.


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Vinnie
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December 08, 2010, 08:20:50 AM
 #29

Don't you think it would be better to leave the government out of this? After all, they are the enemy and the reason we had to invent Bitcoin in the first place.

You're my kind of guy.

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coinguy
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December 08, 2010, 06:23:03 PM
 #30

Challenge coins: $2.72 each, shiny gold plated

http://www.coinable.com

It sounds like there is a lot of interest in coins.

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December 08, 2010, 06:27:42 PM
 #31

Challenge coins: $2.72 each, shiny gold plated

http://www.coinable.com

It sounds like there is a lot of interest in coins.



Is there an option to buy generic coins in bulk (thus preventing the die fee), to be later pressure engraved? What kinds of metal would best fit this?

Also, do you have some reseller on Europe, to avoid the extra customs taxes and delays?
Vinnie
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December 08, 2010, 06:32:44 PM
 #32

Challenge coins: $2.72 each, shiny gold plated

http://www.coinable.com

It sounds like there is a lot of interest in coins.



I imagine there are set up costs for designing such a coin, cutting the original die, etc. Is it $2.72 each after these costs?

With any kind of plating, how recoverable is the precious metal (separating it from the brass?) How much gold, exactly, would plate the coin?

What are your prices for .999 gold and silver rounds (including set up, minimum order of 100, I imagine?)

Thanks for being helpful!

*** Edited to Add***

I just found your pricing page. I clicked on your quote page thinking that's where I'd find this info and couldn't find it at first.

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coinguy
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December 08, 2010, 06:50:58 PM
 #33

CHALLENGE COINS
http://coinable.com/challenge_coin_pricing_1.56_inch.html

100 - challenge coins, made from solid brass, then shiny gold plated, not with real gold.

1.56 inch (40mm) x 3mm thick challenge coin

Die fee: $210.00
Per coin price: $2.72

Add: $4.00 each for 24K gold plating - gold plating is .001" thick, not sure if you can recover much gold.....

__________________________________________
http://coinable.com/challenge_coin_pricing_1.75_inch.html

100 - challenge coins, made from solid brass, then shiny gold plated, not with real gold.

1.75 inch (44mm) x 3mm thick challenge coin

Die fee: $250.00
Per coin price: $3.27

Add: $4.00 each for 24K gold plating

__________________________________________
http://coinable.com/challenge_coin_pricing_2_inch.html

100 - challenge coins, made from solid brass, then shiny gold plated, not with real gold.

2 inch (51mm) x 3mm thick challenge coin

Die fee: $280.00
Per coin price: $3.42

Add: $4.00 each for 24K gold plating
_______________________________________________________

PRECIOUS METAL COINS
http://coinable.com/precious_metal_coins.html


100 - .999 FINE silver (solid)
39mm
Die fee: $2400-$3000
Per coin: SPOT + production charge
                        Proof: $20.50
                        Proof like: $13.75
                        Business Strike: $12.50
                        Satin: $13.75
                        Bullion Strike: $4.50

http://www.kitco.com/market/ - SPOT price

100 - 24K gold (solid)
39mm
Die fee: $2400-$3000
Per coin: SPOT + production charge
                        Proof: $30.50
                        Proof like: $23.75
                        Business Strike: $22.50

You can use the same die for precious metal for gold or silver, challenge coin dies cannot produce coins in precious metals. Precious metal coins will be USA made. Challenge coins are produced in China.
ribuck
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December 08, 2010, 07:59:53 PM
 #34

Coinguy, how many coins can a die strike before it is worn out?
MoonShadow
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December 08, 2010, 08:10:10 PM
 #35

Coinguy, how many coins can a die strike before it is worn out?

That depends upon how rough you are willing to accept the product. 

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
coinguy
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December 08, 2010, 10:28:32 PM
 #36

If a die wears out we replace at no charge.

Total die strikes varies, anything can happen after the first strike.
coinguy
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December 09, 2010, 11:57:49 PM
 #37

I am unable to edit the post I made above.

Challenge coins 1.56 inch = 1.1 oz.
39mm .999 FINE Silver Round = 1 Troy ounce
39mm 24K Gold Round = 1 Troy ounce

1 troy ounce = 1.09714286 ounces
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