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.htmlWe'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.
