Post
Topic
Board Goods
Re: [Photo] First of 2013 Casascius Silver Coins Now Available For Sale
by
chrisrico
on 19/09/2013, 07:47:15 UTC
sweet or not, that price tag is ridiculous: BTC 0.45 a piece.

silver value: ~ 0.03 BTC = 6.7% of price
bitcoin value: ~ 0.1 BTC = 22.2% of price
markup: ~ 0.32 BTC = 71.1% of price

So the value you get by "recycling" the coin is roughly 29% of the price (even worse considering reseller pricing will have to be yet a bit higher and also shipping).

This percentage used to be close to or above 80%.

I was truly looking forward to reselling these coins, but frankly, Mike: that markup is preposterous and I'm going to have to let that business opportunity (if it is one to speak of at all) slip by.

The 1/2 oz coins are ~48% (0.56/1.17) and the 1 oz coins are only ~64% (1.12/1.75). So while I agree the markup on these is higher, I don't think it's too far out of line with the others. It makes sense to me that smaller coins would have higher markup.