E=MC(over priced). The speed of light may be a constant, but the price of gold isn't!
The Swissmint, Switzerland state-owned mint, have minted the world's smallest gold coin. Coming in at only 2.96-millimeters and 0.063 grams, it has the face of the renowned physicist Albert Einstein on it.....
This tiny gold coin represents the Swissmint's "official" 2020 commemorative coin and is meant to celebrat the works of Einstein.
At 1/500th of an ounce, it is so small the viewer needs to squint closely to see world-famous physicist Albert Einstein sticking his tongue out.
According to Swiss mint only 999 of these coins have been made, and a single coin will set you back a staggering 199 francs (£156/$205US). Being a coin, it has legal tender status and has a nominal value of 1/4 of a Swiss franc (£0.20/$0.26).
Because the design is so small, yet so intricate, it is accompanied with a special magnifying glass so owners can see the face of Einstein clearly.
£156 = 1/500th of an ounce.
500 X £156 = £78,000 per ounce.......
£78000/£1190(price of gold) = 65.5 times the price of gold
£1190/500 = £2.38 worth of gold in this coin!
My instinct is to stay as far away from this coin as possible. Its incredibly over priced, yet somehow I'm incredibly drawn to it. The very low mintage figure of 999 definitely means it will become a collectors dream, the fact that it has Swiss gold also makes it desirable, but I just can't justify spending 65.5 times the nominal precious metals value on it.
I'm sure these will all be sold regardless and I'll keep an eye on the second hand market to see how well these do over the next few year. For a short term investment I could see these making you a few £/$/€ but not enough for me to take a big risk for such a small coin.
If any of you crazy #steemsilvergold members out there do pick one up, please feel free to keep me updated on resale values and send me some actual photos (in-hand) so we can all see how small it actually is.
Posted via Steemleo
Hi welshstacker! In my opinion, the price of the coin will go up as there will 999 in existence but of course, the fanboys of Albert Einstein will buy it surely. Upvoted!
Total waste of money. And an ugly one at that. Not all low mintage coins or rounds are winners either. This one is a dog with fleas.
I am an Einstein fanboy, but I am not totally crazy. Why would I buy a coin that I can't even see it?
!trdo
Posted via Steemleo
Congratulations @ronaldoavelino, you successfuly trended the post shared by @welshstacker!
@welshstacker will receive 0.74306363 TRDO & @ronaldoavelino will get 0.49537575 TRDO curation in 3 Days from Post Created Date!
"Call TRDO, Your Comment Worth Something!"
To view or trade TRDO go to steem-engine.com
Join TRDO Discord Channel or Join TRDO Web Site
This news is spreading fast, I just heard about this on our local radio!!!
Who would buy this???
Congratulations @welshstacker, your post successfully recieved 0.74306363 TRDO from below listed TRENDO callers:
To view or trade TRDO go to steem-engine.com
Join TRDO Discord Channel or Join TRDO Web Site