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 Replies: 136 / Views: 14,147 |
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Pillar of the Community
 United States
1796 Posts |
 Ok, so I'm inconsistently lazy. Here's one for a silver quarter I also did last night but was too lazy to upload until right now. :-) |
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Pillar of the Community
United States
1796 Posts |
Quote:
I got another idea! What part of NJ do you live in? If its on North NJ we can start to attempt circulating these in Northern NJ as regional currency. I'm in Central NJ, a stone's throw from "Hub City" New Brunswick, but North NJ isn't to terribly far away. I'm up there often enough for family and business. Quote:
You could also add Bank of Northern New Jersey (NNJ) to the card to make it more official, until you get arrested of course..... Hehe an emphatic pass on that idea, then. I want to try and keep any such experiments light-hearted, fun, and above all legal. :-) Edited by SteveCaruso
08/27/2012 2:34 pm
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Pillar of the Community
614 Posts |
5 and 5/8 huh. Nice, very nice.
"Excuse me, but how much does this cost?"
"Only 17 and 15/21 of a gram of course"
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Pillar of the Community
United States
1796 Posts |
Quote:
5 and 5/8 huh. Nice, very nice.
"Excuse me, but how much does this cost?"
"Only 17 and 15/21 of a gram of course"  "Hey, what's 7% sales tax on 15/21sts of a gram?" :-) Hehe, it's the QR code that'll make (dollars and) "cents" of it. Edited by SteveCaruso
08/27/2012 2:37 pm
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Pillar of the Community
Canada
3692 Posts |
Aren't your grams based on 90% silver, though? People might calculate it as if it were pure silver (ASW). What do the backs of the cards look like? Also, are the weights based on books, or is each piece actually weighed? - because lots of "G" pieces are below the book weight. People might stick in the lower weighted ones into the cards.
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Pillar of the Community
United States
1796 Posts |
Aye the gram values in the mockups are based on 90% silver (edit: i.e. they represent the number of grams of pure silver in the coin). I may change the notation to "X grams Y fine silver" to prevent confusion, but I haven't decided yet (that would also make the fractions easier to manage as the dime would be 2.5 and the quarter 6.25). Also yes, each piece would be weighed individually, and I already have XF-AU common date silver dimes which make the full spec (and are also easy to get more quantities of at spot or less).
Also to prevent fraud like swapping, the coins are going to be laminated *into* the card, so tampering will be evident (laminating plastic would have to be cut, which makes it cloudy) and there will be a way on the website linked in the QR code to report tampering.
Edited by SteveCaruso
08/27/2012 8:27 pm
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Pillar of the Community
United States
1119 Posts |
I like it. I would acecpt them as payment for photography services. Maybe not for an entire wedding just yet unless my staff would accept them as payment. I would however have no problem leaving a regular cash tip and if the service warrants leaving one of these as a bonus tip. Do you have a mockup of the 'obverse'?
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Pillar of the Community
United States
965 Posts |
These are awesome! how do I get some?
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Pillar of the Community
United States
1796 Posts |
Here's how the "obverse" (well, reverse of the card, obverse of the coin) might look beside the "reverse." :-)  Quote:
These are awesome! how do I get some? Hehe we'll see about that in the future *if* they fly well locally. No grand or commercial plans at this point. :-) Edited by SteveCaruso
08/28/2012 10:07 am
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Pillar of the Community
United States
1119 Posts |
Very nice looking and impressive. What do you suppose the cost of materials and manufacturing will run and how do you plan to cover these costs?
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Pillar of the Community
United States
1796 Posts |
They're probably going to be traded at a small premium above spot to pay for those costs as well as the website and authentication they'll be linked to.
So, when you scan the QR code or type in the ID number it'll list:
1) The purchase price (i.e. spot + a premium that offsets the cost and time to produce them).
2) A buyback price (i.e. what I'd personally be willing to pay out in USD to convert it to cash if someone sends it in rather than trades it along, which would be over spot, but under the purchase price).
3) The spot value of the alloy of the coin.
So it'd basically be an ask/bid/fallback triplet, and I'm probably going to set the algorithm for the trade and buyback prices so that the fluctuations in price for a given day are evened out a bit and more stable.
With this in mind, other similar systems, like Shire Silver (which uses silver wire and generic tracking) trade at a premium of nearly 2x spot (~$55+/ozt). I *think* I could do better than that for this experiment, but only trying it will tell. :-)
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Pillar of the Community
Mexico
1304 Posts |
I would totally accept these for payment. Great idea!
A few suggestions come to mind for the wording to be a bit easier for the masses to understand what they are getting. Other than that, I wouldn't complain!
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Pillar of the Community
United States
1796 Posts |
@harrison2 - What are your suggestions for the wording? :-)
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Pillar of the Community
United States
1796 Posts |
Also a general update: My sister (who is rather artistically inclined) thinks the idea is fun and on a lark she's coming over today with a laminator to put together some prototypes. Then I need to fiddle together a database and we can try them out. :-)
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Pillar of the Community
United States
1796 Posts |
Another Update: Success! At least for the prototype. :-) I'll be posting some pictures later on tonight or tomorrow.
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Replies: 136 / Views: 14,147 |
First Page
Posted 08/27/2012 2:33 pm
