11 XPM = ca 0.08 BTC
1.5 BTC for this item is so overpriced. If we assume the silver is 0.25 BTC then you ask for more than 400% of what this coin is actually worth...
And I thought more physical coin competition would actually lower the price...
The silver is just one piece of the equation unfortunately. The custom die costs a lot of money and time to create, there is the proof stamping process which also adds an incremental charge per coin, the cost for the custom leatherettes is another add on, the tamper resistant hologram stickers are yet another incremental and then you have the generation and manual insertion of the actual XPM. Once all is said and done, considering this is a batch of only 50, the profit margin really isn't anywhere near what you have calculated. My hope is to offer these for a long time and if I end up purchasing additional batches, I will be able to bring the price down as at that time the overhead would have been paid for.
I set the price based off of what other physical coin manufacturers are charging. As a matter of fact, their supply lines are much larger so they should be able to be far cheaper than they are. Like I said, this is the first batch and it is a small quantity so the overhead is far larger than if I had made 1,000 pieces.
All this having been said, I think there is a little wiggle room where I can try to make this first batch a little more affordable, but unfortunately not much on this initial batch. I will adjust the price to
BTC1.25 with the 11 XPM included or for
BTC1 if only purchasing the coin without the physical XPM attached.
