Bitcoin Tangible Trust, if you want to issue an asset for a fully-redeemable silver coin that costs you, say, $20 to buy and put into custody?  How does a 5 XCP asset issuance fee effect the end price that you need to charge a customer to buy this silver coin?  

EDIT:  OK, I just did the math.  5 XCP = $32 @ 0.01 BTC/XCP and $640 BTC/USD.  So, basically at 5 XCP issuance fee you would need to charge $52 for a silver coin that otherwise could be purchased from a coin dealer for $20.  So, yes, from my basic analysis, this seems like a blockage, at least for BTT's business model anyways.

EDIT: Porqupine, maybe you see / understand something that I am missing?  Can you please elaborate?  Interested to better understand your perspective, as you always have such good postings on this list.