Re: [POLL] What denomination of physical Litecoins would you like to buy?
I just voted too expensive on the basis that the 1 LTC denomination costs 6 times that of the LTC itself. The 50LTC version isn't so bad. But what I would really be interested in is if the actual coins are made of fine silver as well.
Somehow I think fine silver holds value better than unknown silvery metal.
That way you can still persuade someone the coin is worth its weight in silver even after someone decided to redeem the ltc.
Also, it has probably been suggested before, how about putting larger denominations on heavier coins? E.g. 10LTC on 10 Oz silver coin, 50LTC on 50 Oz, etc.
Somehow I think fine silver holds value better than unknown silvery metal.
That way you can still persuade someone the coin is worth its weight in silver even after someone decided to redeem the ltc.Also, it has probably been suggested before, how about putting larger denominations on heavier coins? E.g. 10LTC on 10 Oz silver coin, 50LTC on 50 Oz, etc.
Hi, thank you for your feedback.
First of all, a 5 LTC mark up on each coin is actually lower than what Casacius himself charges for his physical Bitcoin, and I would venture to guess he is making them at much larger quantities that are most likely cheaper to make. So.. I am making less profit than he is by selling these.
People don't seem to realized that because a Bitcoin is worth over a hundred dollars, he can charge a .2 BTC mark up and it doesn't seem like much at all, but this .2 BTC mark up is bigger in USD than my 5 LTC mark up if you do the math.
Also, silver bullion and coins are something I would like to expand upon in the future if this project is successful. This is another reason to justify the 5 LTC mark up. The costs of buying a bunch of 1 oz silver coins adds up very quickly as you can imagine. I simply do not have enough money to start with silver coins right from the get go.
By buying a coin or two from the first batch metal coins, you would be helping me to reach that goal of offering more denominations and silver coins/bullion as well.
Thanks,
Ch