Quote from: bitcoiners on July 25, 2013, 11:44:55 PM

Quote

ITEM #2: 1 Troy oz 999 Fine Silver 25 LTC Lealana Litecoin

Also I am offering a 1 troy oz silver 25 LTC Lealana Litecoin as seen below. There is no cap on orders for this item as well. Capsule, COA, and black single-coin leatherette are included.

PRICE (1 oz): 63 LTC or 1.98BTC each

BULK PRICING (20 coins): 1,134 LTC or 35.64 BTC

Okay, so....

Using an average of $2.7 usd per ltc.

To get a set of twenty coins in one ounce.

25 ltc * 20 coins = 500 ltc
20 oz silver * 20 usd per oz. = $400 usd divided by 2.7 per ltc = 148 ltc

648 ltc total in silver and litecoins for a profit to smoothie of 486 ltc/$1312 USD per 20 coins.

OR $65.61 usd/ 24.6 ltc profit per coin.

Sorry I'll just buy generic silver at these insane prices.

tl;dr

I support smoothie in the beginning. But for these prices I can mint my own. He coins aren't collectible yet and at these prices I don't ever see them as collectable.

g/l

Hi,

I agree the prices are too high, $65+ profit per coin is slightly absurd (that's $65,000 usd after selling all 1000 coins.) Since I was going to make my own coins, I know how much it costs to make these and I can confirm he is making a healthy profit. However, he basically has no competition so he can charge whatever he wants. I am slightly saddened that I gave up my project and now Smoothie can set whatever price he wants. Perhaps I will pick up my physical Litecoin project back up in the near future and force Smoothie to come down on his prices.

I too would love to own one of these, but not at these prices. In comparison, I was going to charge about $15 profit per coin... Smoothie is at about $65+. He can no longer say he's doing it for the good of Litecoin, because he is doing it for the $$$.

My two satoshis, I expect this to be deleted soon...