It's a brilliant looking coin, but doesn't anyone else think the going price of 80 euro is a bit excessive? 0.01 is worth what.. $2.50 and the silver content itself is worth less than $20? I get the whole bitcent thing but 0.10 would have been more appropriate?
Well, first off you can find them for around $80 USD, which is cheaper than 80 euro. The high price tag compared to its precious metal content and Bitcoin value is due to several reasons:
-The coin has a total mintage of only 2009 coins. Low mintage coin runs like that cost Much more to mint than typical runs of bullion rounds where 500,000+ coins are minted.
-The costs to design the artwork for the coin, and to manufacture the 2 dies needed to mint it are factored in.
-The costs for the 2009 ounces of Silver, and the total 20.09 Bitcoins funded within all of the coins.
-The costs to design and manufacture the custom, tamper-evident security hologram are factored in.
-This coin is a Proof coin, which adds to the costs. Compared to standard "business" strikes, Proof-struck coins take a lot more time and effort to manufacture, and usually after each single coin is struck, the 2 dies are hand-polished to assure its Proof quality isn't flawed.
-Then there is the time needed to securely generate the private keys and assemble each coin with its hologram.
-Also it comes with a COA and custom case I believe, which adds to the costs.
-Lastly, on top of all of that some must be added onto the costs so that a profit can be made, and the manufacturer didn't do all this work for nothing.
Sorry for getting a bit wordy and off-topic there, but I just wanted to try and explain why sometimes coins like these are priced higher than what people think they should be. This was also discussed recently in the Silver Wallets thread and explained by Blazedout419 nicely:
https://bt.irlbtc.com/view/983211.msg10835977#msg10835977Hi, my great friend
snarlpill.
The coin is lovely and don't forget that it's a 1oz of .999 silver. That's better than the 0.01
BTC... The only coin I like more than this one is the 1oz silver Casascius 1
BTC. Not for the design and hologram, but because the history it represents, as being the first "family" of physical
BTC.
I do recommend that you buy one of these Digital Eagles. You can find several @
eBay.
Yes, I definitely agree that .999 Silver physical Bitcoins are some of my favorites! Plus they combine Silver and Bitcoin, 2 of my favorite things and 2 separate but equally important stores of wealth and forms of currency! Plus, coins struck in pure silver just have such beauty and luster/shine to them, specially with a Proof minting.
Thanks for the link friend, will definitely have to add one of those to my "Watch List" so I can remember to buy one when I am able to.
