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Author Topic: Any interest in buying single silver U.S. dimes with BTC?  (Read 917 times)
westkybitcoins
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April 22, 2012, 07:42:50 PM
 #1

Well, I'm thinking of selling some silver dimes, and wondering if there would be interest on this forum in buying them.

I'd be selling them at a constant price, 1 silver dime for 1 bitcoin, shipping included, until I ran out, regardless of price fluctuations. Admittedly, this is currently a pretty high price, but the intent (besides selling out of about 50 dimes) would be to give people with just 1 or 2 bitcoins something tangible to easily spend it on.

I notice that Coinabul.com sells old silver coinage, and at prices closer to spot (currently $2.28 for a silver dime,) but you have to buy $1 face value--10 dimes, or some other coin combination--at a current cost of about 5.5btc, and I'm not sure what they charge for shipping. In that light, I really don't think buying 1 or 2 dimes for 1btc each is unreasonable.

So... is there interest? If so I'll probably run with this. (Newbies who haven't been whitelisted can feel free to PM me if they like the idea. To some extent, this is intended for those who are new to bitcoin or just don't have much, and want to buy something small and tangible with it to try it out.)

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ShireSilver
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April 22, 2012, 10:51:29 PM
 #2

I learned the hard way to always use tracking on shipping, which adds to the shipping cost. I know I've had a handful of orders I shipped where I actually took a small loss because the shipping ended up being more than I charge on really small orders.

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TECSHARE
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April 24, 2012, 03:03:57 AM
 #3

1. You are asking too much.
2. Offer the customer optional tracking at their expense, and at their own risk if they choose not to.

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Miner612
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April 24, 2012, 04:48:35 AM
 #4

I would be interested... not at that price though.

I buy and sell GPUs, most 5850s and 7970s. 
jimzolorenzo@gmail.com  -- Make an offer.
http://myworld.ebay.com/i_buy_5850s  -- current inventory
I have a couple bare bone mining rigs for sale as well.

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I bought silver from [ccliu] 5 star transaction!
I bought silver from [TECSHARE] -- shipping still
westkybitcoins
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April 24, 2012, 09:16:08 PM
 #5

Hmm.

I took a look at USPS shipping costs within the U.S. (specifically, from the midwest to Alaska.) I looked at prices for a one ounce letter in a letter-sized envelope "containing a rigid object" (a light cardboard sleeve.)

The cost for first class mailing is $0.65 (goes up to $0.85 for two ounces.)

The cost for proof of deposit (certificate of mailing) is $1.15.

Insurance of $10 (for the rough purchase price of, say two dimes) costs $1.85.

Certified mail, which provides delivery confirmation but not point-to-point tracking, is $2.95.

Express mail, which DOES provided point-to-point tracking, is a flat $18.95.

And the spot price of a silver dime is about $2.25. For two dimes that would be $4.50.

I've rethought this several times over, and while I came up with various options and such to reduce the cost, while still trying to mainly provide for my target market, it got much more complicated than I wanted. Again, I'm not so much trying to provide silver for average bitcoin users as provide a small product for several people with a bitcoin or two who want to spend it on something. I'm only going to be selling a few dozen dimes, not trying to make a business out of this (not right now, at least.)

To that effect...

One silver dime: 1 BTC - includes proof of deposit. Insurance/confirmation/tracking optional, costing extra
Two silver dimes: 2 BTC - includes certified mailing. Insurance/tracking optional, costing extra
Additional dimes: + 0.65 BTC per extra dime, still includes certified mailing

Maximum order size of 10 dimes.
Additional shipping methods and services negotiable upon request. U.S. shipping only.

I'll probably go with all this and make the post on the Goods forum once I get the shipping materials.

Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
...
...
In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber
...
...
ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)
...
...
The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
eroxors
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April 25, 2012, 03:35:54 PM
 #6

1. You are asking too much.

This.

Don't get caught up in the game and have a nice day!
ccliu
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April 26, 2012, 12:50:35 AM
 #7

i personally think selling 1 or 2 is a complete waste of time. Your package wouldnt even weigh anything. Why not sell them in batches of 10 or so, and that way shipping is dissipated and you arent charging $5 for something worth $2
 
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