How the Quint is Priced -- Man, the Devil is Always in the Details

I was really excited about the prospects of the Silver & Gold Quint until I read the latest post from Hive account@stan Here.

Now I honestly feel bad I was promoting it before knowing more about it.

The devil is always in the details and it seems they are backing the Quint with a numismatic coin. That was in the announcement, but I missed it.

Most real stackers don't give much of a hoot about Numismatic value and if you do, then go start collecting wheat pennies because in a financial crisis, numismatic premiums are going to collapse to their intrinsic value which is near 0. Sure, I have a few "collectable" coins, but the bulk of my stack is in BU Coins and bars. I don't ever buy a 1oz coin for $50+ and expect to make a lot of money on the numismatic premium let alone want to own digital ones.

If they are really basing the pricing of the Silver Quint off of the price of a proof coin, all of the excitement just went out the window and I'm sorry I blogged about it.

I'm a huge fan of what Hive account@stan and BitShares is trying to accomplish, but how absurd of a pricing scheme is this? Why not just back it with BU coins? What if I want to redeem 500 coins, who in their right mind wants to take possession of 500 proof coins in proof packaging? I was going to dollar cost average into a monster box this year but not anymore.

No proof silver eagle coin holds its value in the retail market above what the mint charges and I certainly don't want to invest in a bunch of proof coins.

I am Hive account@matthewwarn and I have Stackitis... there are worse problems to have in life.

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