[ANN] Physical Litecoins by the Litecoin Foundation

[AmDD]

Looking forward to it.

[Blazed]

Good news!

[Endgame]

Watching with interest!

[sickboy314]

Can't wait to see these 

[NewLiberty]

It is very exciting to be sure...  With each new problem, it inspires inventive folks rise to the challenges.

[1krona]

Cool, I'm really looking forward for these ones

[Blazed]

Goat,
Any updates for us on these coins?!?!

[El Cabron]

Goat,
Any updates for us on these coins?!?!

The coins and the holograms have been ordered. We need to wait until they both come in then hopefully shortly after that we can start selling.

We are working on a coin that will hold BTC as well and also have the new security measure that will be found in the Litecoin version.

Pretty interesting stuff if it all works out

I will update when I can.

[prophetx]

i would like to suggest that when there is a conference with litecoin holders at a conference that we start a new tradition buy playing for chickens with the Looping Louie game which actually has tokens with chickens on them (people would be able to buy chickens for LTC to play)

perhaps there could be a raffle for 1 physical coin to all participants



the game also goes well with drinking, but we could seperate into drinking and non-drinking groups

[El Cabron]

i would like to suggest that when there is a conference with litecoin holders at a conference that we start a new tradition buy playing for chickens with the Looping Louie game which actually has tokens with chickens on them (people would be able to buy chickens for LTC to play)

perhaps there could be a raffle for 1 physical coin to all participants



the game also goes well with drinking, but we could seperate into drinking and non-drinking groups

This is so random and off topic but i love it.

Im sure this could work out. Lets make a new thread for the details

[miffman]

Any updates? Lol it's been a while

[El Cabron]

Any updates? Lol it's been a while

The delay is in the manufacturing of the coin. The new thing we want to do has never been done and really their timeline has not ever been kept. Sadly I can not mint these by myself and my hands are tied.

The rest of the stuff is more or less ready to go.


I really really hope this is done by Christmas

[bitbollox]

Hi did the physical coins ever get made? if so is there any left I know Im late to the party but Im just getting in to crypto coins I already have a coin collection dating back to the 18th century (English GBP) and thought a futuristic one would be a good edition is there a link to a site or is it to late and I have to risk ebay?

[El Cabron]

Hi did the physical coins ever get made? if so is there any left I know Im late to the party but Im just getting in to crypto coins I already have a coin collection dating back to the 18th century (English GBP) and thought a futuristic one would be a good edition is there a link to a site or is it to late and I have to risk ebay?

Still designing/making the dies for them to be minted. This is sadly a part of the project I cant do myself.

The certificates and holograms are done and waiting, the silver has been purchased.

Hope to get them out soon.


Thx

[BittBurger]

I am excited for an affordable physical Litecoin.

I do believe the Lealana coins are absolutely gorgeous, but I am also a business owner, and I know what price gouging is.  There's an unspoken markup above wholesale that's considered ethical.  There's a pretty big gray area as well.  But those coins are above and beyond all the gray area, even.  Super disappointing because they are gorgeous with that silver/blue look.  So icy cool  

Hope these will be both affordable and beautiful.  

So its been over 6 months already?

-B-

[El Cabron]

I am excited for an affordable physical Litecoin.

I do believe the Lealana coins are absolutely gorgeous, but I am also a business owner, and I know what price gouging is.  There's an unspoken markup above wholesale that's considered ethical.  There's a pretty big gray area as well.  But those coins are above and beyond all the gray area, even.  Super disappointing because they are gorgeous with that silver/blue look.  So icy cool  

Hope these will be both affordable and beautiful.  

So its been over 6 months already?

-B-

The hard part, the dies look like they will all be at the mint tomorrow assuming all goes well.

This project is alive and yes, our goal will be to make this coin economical.

Our certificates will be hand printed and really look awesome. Hopefully the coins will match!

[crazy_rabbit]

I am excited for an affordable physical Litecoin.

I do believe the Lealana coins are absolutely gorgeous, but I am also a business owner, and I know what price gouging is.  There's an unspoken markup above wholesale that's considered ethical.  There's a pretty big gray area as well.  But those coins are above and beyond all the gray area, even.  Super disappointing because they are gorgeous with that silver/blue look.  So icy cool  

Hope these will be both affordable and beautiful. 

So its been over 6 months already?

-B-

I don't know about that. I thought about minting my own physical coins and the prices from mints were pretty far above "spot". To get a price anywhere close to "spot" required a purchase of a really enormous amount of precious metal up front and a commitment to a large number of coins. At that point the business plan of a physical litecoin/bitcoin company becomes more precious metal speculation and less minting coins, because the value of your stock can fluctuate so dramatically while you're waiting to sell them.

That said- I do have to question the wisdom of loaning the project 25,000LTC to get this done. That's a lot of money. Personally I would imaging that money better spent doing something like getting a working payment processor going, or a litecoin version of blockchain. But thats just me I guess.....

I'm looking forward to seeing it!

[El Cabron]

I am excited for an affordable physical Litecoin.

I do believe the Lealana coins are absolutely gorgeous, but I am also a business owner, and I know what price gouging is.  There's an unspoken markup above wholesale that's considered ethical.  There's a pretty big gray area as well.  But those coins are above and beyond all the gray area, even.  Super disappointing because they are gorgeous with that silver/blue look.  So icy cool  

Hope these will be both affordable and beautiful. 

So its been over 6 months already?

-B-

I don't know about that. I thought about minting my own physical coins and the prices from mints were pretty far above "spot". To get a price anywhere close to "spot" required a purchase of a really enormous amount of precious metal up front and a commitment to a large number of coins. At that point the business plan of a physical litecoin/bitcoin company becomes more precious metal speculation and less minting coins, because the value of your stock can fluctuate so dramatically while you're waiting to sell them.

That said- I do have to question the wisdom of loaning the project 25,000LTC to get this done. That's a lot of money. Personally I would imaging that money better spent doing something like getting a working payment processor going, or a litecoin version of blockchain. But thats just me I guess.....

I'm looking forward to seeing it!

Yes, other things are good too:)   Who is to say these are not being worked on as well?

The payment processor issue is not a technical one, but a legal one. Every time a new ruling comes out on crypto we get to pay lawyers to redo what they have done. Fun stuff. Trying to operate legally in the USA is almost economically unfeasible.

[skybound5]

Still nothing on this?  I am curious whether it's even a good idea to use precious metal; that's like printing money on money. It becomes confusing at that point to track the value of the medium on top of the crypto value.

Why not use regular metal coins similar to the ones seen on this site: http://www.aliexpress.com/store/product/Physical-Litecoin-LTC-Collectable-Real-Digital-Coins-Like-Bitcoin-s-little-brother-Round1-Troy-999-Silver/1020505_1620607103.html

We've been using coins like that in the Air Force forever as just simple tokens to be collected. Many of them are of very high quality.

The coins themselves need not be of valuable material in order to serve this purpose. That gives the illusion that the coins are dual purpose and the really shouldn't be. If you want to own silver bullion, buy silver bullion and keep it 'til the apocalypse or hand it down to the next generation.

The only reason I haven't designed my own coin and sent it to be made by a company like makecoins.com is because I wouldn't want them having possession of the secret key. I am looking for other methods. Any guidance?

[smoothie]

Still nothing on this?  I am curious whether it's even a good idea to use precious metal; that's like printing money on money. It becomes confusing at that point to track the value of the medium on top of the crypto value.

Why not use regular metal coins similar to the ones seen on this site: http://www.aliexpress.com/store/product/Physical-Litecoin-LTC-Collectable-Real-Digital-Coins-Like-Bitcoin-s-little-brother-Round1-Troy-999-Silver/1020505_1620607103.html

We've been using coins like that in the Air Force forever as just simple tokens to be collected. Many of them are of very high quality.

The coins themselves need not be of valuable material in order to serve this purpose. That gives the illusion that the coins are dual purpose and the really shouldn't be. If you want to own silver bullion, buy silver bullion and keep it 'til the apocalypse or hand it down to the next generation.

The only reason I haven't designed my own coin and sent it to be made by a company like makecoins.com is because I wouldn't want them having possession of the secret key. I am looking for other methods. Any guidance?

It doesn't surprise me that Goat has taken this long to get an actual product out.

When he initially penned his first post in this thread it was right after we had a heated discussion in PMs back at the end of July 2013.

Simply put: we do not like each other.

That is okay with me as I was not put on this planet to be friends with everyone.

But I can't help but look back and think his attempt to sell "not-for-profit" physical litecoins and think he posted this thread and intentions to make physical litecoins as an attempt to garner a reaction from me or in other words "troll me". As of today he hasn't produced the coins he claimed he is/was making, as far I am aware. At least they were not ever released on this forum or the litecointalk forum.

I support competition in the physical cryptocoin world as I believe it is healthy, but what I do not support is leading people on to believe you will make a product in a particular timeline and then not meet that timeline at all and also claim they are "not-for-profit" coins and then disregard questions about the legality of the so called "Litecoin Foundation".

Maybe Goat will actually finish his coin project. Hopefully he does. But to date it isn't surprising that nothing has manifested itself in a physical form available to the public.

Note: The link you posted of the coins you mentioned are copies of my coin design and have the misleading notion that they are made of 999 Fine silver and weren't. I'm not 100% sure this is the same thing happening here but one of those pictures is of the same two sided coin that was not made of actual silver yet had the writing "1 troy oz 999 Fine Silver".

Hi All,

I have been a long time supporter of physical crypto and I am a strong supporter of Mike Caldwell's (Casascius) physical Bitcoins. I hold a significant amount and own at least one of every coin he has made. I think his efforts have done well for BTC and we would like to do the same for LTC. Since we are pretty much going to be copying his work, I just wanted to give credit to where it was due.

In order to promote LTC I and a few other key LTC supporters feel that an affordable physical Litecoin should be available to the community. We will be doing this project at cost, it will not be for profit. That means you will be able to get the lowest priced physical LTC that can be made.

For example we expect to be able to make the base 1 oz silver coins with the holograms for less than $35. Our goal will be $30 or less. This means the base silver coin and hologram will cost the buyer only 13 LTC or less, plus the face value of the coin.

We will be minting 1/10th, ½, and 1oz .999 fine silver rounds with different denominations. We will also be selling an especially low cost item with no metal (think credit card) for the absolute lowest cost physical LTC. This will be made in the range of 1 to 1000 LTC for the easiest and cheapest way to transport LTC physically.

We have the funding and we have our suppliers set up, all we need from the community is for you to tell us exactly what you want. We think we have a pretty good idea but if we can improve on anything Mike has done please let us know.

Also are you an artist? Want to design a coin or card? Please contact me A.S.A.P.

We are not taking preorders, you can not reserve orders at this time, and we expect to be shipping in 2 to 3 months. We will only be accepting LTC as payment. Also prices are subject to change and will match our real costs.

Thank you all for your support.