Quote from: 1base58 on June 28, 2013, 02:09:40 AM

Quote from: Photon939 on June 28, 2013, 01:35:06 AM

Quote from: BarkinTree on June 28, 2013, 12:24:13 AM

i dont get it. it cant be pegged to silver, so how does this work?

It's just a pretty token, there's no significant practical use for it. (I suppose you could use it in physical trade but it's packaged more as a collectors item vs something you'd buy lunch with)

While you are paying more than the value of the silver and the LTC held on the coin at it's current exchange rate, it is more akin to an investment than a collector's item. People who purchased the original BTC denominated coins from www.casascius.com are often exchanging these physical coins OTC at meetups or using localbitcoins, so they have a purpose as a store of value and a means of exchange.

Yes, you can certainly do that but being a half ounce of silver plus litecoin value, it's not nearly granular enough for most trade purposes. As for it being an investment you might as well just go buy LTC or silver (whichever you think will perform better) and cut out the markup for having the custom coins made.

But hey it's shiny and if litecoin still exists in a few years they might have a value as a collectors item.