If the reserve price is 3.77BTC and you won't sell for a satoshi less, then just start the auction at 3.77BTC.
I don't get what the point is in starting it below that unless you'd consider offers should the reserve not be met.
I was thinking the same thing at first, but I guess it's to evaluate market price (?).
Still it feels strange to make a bid that you know will not make a sale.
PS: Awesome coin set.
