How the Quint is Priced
Quintric is using the published U.S. Mint retail rates to price the Quint. The current rate for a one-ounce U.S. minted gold buffalo coin is $1,710. That coin has a $50 face value. 50 x 100 = 5,000 gold cents per one-ounce gold coin. A Quint is five U.S. gold cents or 1,000th of an ounce of U.S. gold legal tender. Accordingly, the current U.S. paper dollar price for one Quint would be $1,710 / 1,000 = $1.71.
A U.S. one-ounce silver coin has a $1 face value, thus containing 100 silver cents. A QuintS (US silver quint) is five silver cents, or one 20th of an ounce of U.S. silver legal tender. The current U.S. Mint rate for a one-ounce Silver American Eagle coin is $55.95, which divided by 20 yields a rate of $2.80 per QuintS.
Straight off the US Mint web site.
In terms of the current market value of the coins' precious metal content, the QuintS is actually slightly less than the Quint. Yet you'll note that the QuintS has a higher premium than the Quint. This actually makes sense within the Quintric system because we are offering forever free vaulting/insurance and silver is much more costly to vault than gold.
The Key Concept
As I said in my previous post, the retail price of any coin is a function of the added value placed on it in production. The US mint increases the value of its silver proof coins from ~$19 to ~$55 by striking them a few more times and adding a little more polish - while the amount of silver remains the same.
Similarly, Quintric adds value by forever free vaulting/insurance and digital minting into legal tender to make them transferrable anywhere in the world in 3 seconds.
Now which adds more real value? Making it collectable or making it digital legal tender?
So, Quintric set the price of its QuintS to the same markup on the regular silver dollar as the US mint puts on it for striking it a few more times. But backing both coins is the same $19 ordinary silver dollar - to which the US mint and Quintric are each adding their own form of value.
You have the choice of which of the two methods of adding value is more useful to you.
Perhaps one day Quintric will offer a product that is both collectable and digital - presumably that would justify both mark ups at the same time.
Has anyone ever seen the actual gold and silver coins Quintric.com claims to have in the Utah vaults? How has this been verified and documented?
Do your research. Read the White Paper. UPMA is legendary in Utah.
Now you are just being anarchist.
Do one's own research? Too novel a concept.
Just put it on CNN so we know what to believe and do.
Thankfully TD Bank banned me from buying this stuff on my credit card...protect me from myself.
Those bankers are all heart.
People like this Jrb450 will only understand when he actually goes and picks up some physical gold/silver via his Quint. Only then will he be a believer. Whatever.
Keep tellin em like it is, Stan! <3
Get a ticket to Salt Lake City and go do that to confirm. Film it!
@stan and I did just that ourselves.
FREE COINS February, 26th #AIRDROP #Bounty #bitcoin#USD #ICO
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I live in Salt Lake City, it's a real place.
Livestream setup today with random audits.
Thanks for the clarification for this @stan.
This is one of the most exciting developments, in my opinion, that we have seen to date on the Bitshares network.
This idea has something for everyone. It is currency so the IRS cannot hammer people about the capital gains.
There is precious metal backing meaning that there is true value behind the coin.
It can be moved quickly anywhere in the world...meaning the primer of the financial world is greased...instead of being bottle-necked like the banking system does.
It is affordable. We see stocks split all the time because the price gets out of the reach of the average buyer. Having a token that is under $2 is within the reach of all.
Unlike our guesstimates of what is in Fort Knox (nothing according to many), we know how much gold is truly behind the currency that is created.
Plus there is a mandate for the government to produce as many as requested.
Isn't it ironic that the government, for all their fighting of crypto, is now complicit in creating more crypto?
I just have to laugh at that....the US Mint enables more quints to be created.
All excellent points.
I'm sounding like I live under the reign of Stalin or Mao or Sauron!
That's because you/we are.
Please don't withdraw, we need you.
wow wonderful"No man, when he has lighted a lamp, puts it in a secret place, neither under a bushel, but on a lampstand, that they who come in may see the light."thank for resteem.......
Hello @stan - This is offtopic , but still thought to bring it up. I notice most of your post is 100% rewards instead of 50/50 %. From my understanding this brings you less rewards !
For eg: if author rewards is 100 SBD from a post and if ones do 50/50 you will get 50 SBD plus approx 15 steem [50/3.35] per current rates.Further you trade 50 SBD for steem overall you will get around 60 Steem [50SBD =54 steem + 15 Steem ]. But if you do 100%, will get only 30 Steem (100/3.35). Post payout conversion considers 1 SBD = 1 USD not matter market value. If you have an old paid out post with 100% you will be able to validate this or wait for this payout to verify. Hope this helps.
Wow. Who knew?
I know :) its very confusing
Nice video on "why premiums exist on all coins."
https://web.telegram.org/#/im?p=@quintric
Cool post
Thanks for these informations that are new to me...@stan
Excellent explanation, mate! Couldn't have been clearer probably hahaha.
I'm waiting for another post soon. Greetings and a hug :)
what about hryvna?)
Thanks for sharing many information about Quint.I have read it.in this time bitcoin and like other currency is very low point And decreasing .by the way quint is well.