JANUARY 6, 2019
For those of you that know me, my radio work has taken priority the past couple of years. Coupled with changes and operating capital, things changed.
My go to guy for coin production, I am very happy to say, saw his passion become a full time income and then some. It couldn't happen to a nicer guy. Even if that created an issue with what sort of coins I could mint and the of production, I refuse to even wish he could work my coins too.
Frankly there are other mints but the cost would increase 50% to 100% and I want the coins to be more affordable. Other mints mean less advice and ways to save. Plainly put, my go to mint looked at each coin as a piece of art. They knew the best metal, historical coin knowledge and design patterns. My go to mint helped to create a coin backed up with knowledge and sensitive to cost. Any other mint sees an order doing by my dictates, all for more money spent.
For costs, consider this: you open a store and pay $1,000 for rent monthly. If only 100 customers buy each month, you need to make $10 off each customer. If you have 1,000, you only need $1 from each one. Coin designs are like rent. It affects the cost of the coin and for my coins with mintages of 100 to 250, the design is a big part of the cost. Mints I pricSeptember 10, 2017
Much has happened over the past few months. There has been little time to devote to coins. Everything in the store is still available and I welcome you to click contact us for special pricing on multiple coin/note orders. Please include the item number you see as you browse.
Recently I have looked at currency backing. In earlier times, currencies were backed by gold or silver but in more recent times the backing has been what is called 'fiat' but for many they think that is not backing whatsoever. In reality it means backing is based on the economy of a country. The more you produce, the more money at a certain conversion rate there can be. The drops in value of currency is related more on the value of goods and raw materials produced.
This is where it gets interesting. How about backing in water? Can a currency be backed by something like amber? Sure it can. A tropical island might value it's currency by the output of it's pearl farms, for example. Obviously all these items have a certain value.
Putting this in perspective, a water source generating 1,000,000 gallons of water with 256 million gallons a year going up for sale annually has a certain value. Part of that value is in perpetual supply. This water source is considered a 1,400 year supply. While the specific water might retail for $2 a liter bottle, it might be valued in it's raw form at 4 cents a gallon determined by a third party contract for 100 million gallons at that price point.
For amber, that might be more elusive. The amount of amber found underground or washing ashore might be a somewhat unknown quantity. In such instances, the quality of the amber and amount sold in recent years to create an average grade and quantity of which one can base the value of money not only in number of units created and circulated but the fluctuating value of the unit of money. Certainly for stability, there has to be concessions for bad years. You don't want big increases and decreases in the buying value of the currency. Did you know mid grade Baltic Amber is worth about 50 cents to $1 US per gram while high grade amber is in the $1 to $2 per gram value. Keep in mind amber is lightweight, so a gram is pretty good size.
A small tropical island might have a population that fishes for consumption and grows crops for consumption but also operates pearl farms in the lagoon. Running a pearl farm is not cheap. You have to have the oysters, keep them safe and disease-free, then hire an expert to work their magic to cause pearls to form. And that doesn't happen overnight. You are looking at a few years of incredible costs to get the first harvest and even then 30% won't create a pearl. The quality of the pearl is never guaranteed. In fact, the round pearl is ultra rare. Pearls come in all kinds of shapes, sizes and with imperfections as well as shades of colors. You'd think a pearl is big bucks but because there are so many variations, a Tahitian black pearl might fetch $25 to $35 for a half inch or about 12.5 millimeter pearl. A black pearl is a premium pearl. Another species might fetch $4 to $8 for the same sized pearl and a freshwater pearl might even be less. In fact, one small island of just under 400 started a pearl farm, spending about $250,000 before the first harvest that grossed $45,000. They figured they might reach break even by about the 7th harvest. It is not as risky as growing crops, for example, because those oysters will produce and if you are running that pearl farm by the book you will hit the numbers predicted or be slightly off one way or the other. So, an island that values their money in pearls is quite stable and predictable.
I was impressed with a small town in Greenland that harvests iceberg water by hand. It is among the very purest water on earth. In fact, it is so exclusive, it is bottled by order. In other words the water you buy has your name on the bottle as you order it and then receive it. We're talking $50 a liter in glass bottles. The small community's economy is in good shape and the output, as you could imagine, is not huge but very manageable with plenty of unused 'iceberg' untapped.
Three of the locations you'll see here value their money based on such commodities..