Indiegogo Campaign Q&A
This is an all or none campaign. Fixed funding Is for campaigns that can not be done in stages. These osmium coins are high tech coins and the full 15,000 coins are needed to get the manufacturing price per coin down to $100/coin. If I reach the goal, then I set up the manufacturing equipment and make the coins. If the goal is not reached then nothing happens and you get a full refund, excluding the nominal third party credit card charges.
The purchase of 500 Kg of osmium powder is vital to this project so I need to raise the full $9,750,000. If the goal is not reached then the 15,000 osmium coins will not be manufactured and you get a full refund, excluding the nominal third party credit card charges.
9 months after the campaign goal has been met and the project is fully funded. Because of the specialized equipment needed to produce coins from these metals with such extreme properties, it will take 6 months to set up for production. I want to allow another 3 months for production and delivery.
Only 15,000 registered limited edition coins will be made. If a lot of donors choose the $6,500 donation level. Only 2 of the coins will be registered limited edition coins. The other 10 will be coins will be made as bullion/production coins after the 15,000 registered limited edition coins have been made. I could reach $9,750,000 before I have 15,000 registered limited edition coins claimed. If this happens I will go ahead and set up the manufacturing facility and start production while I extend the campaign and continue to offer the remainder of the 15,000 registered limited edition coins. If I reach the goal of 15,000 registered limited edition coins claimed, yet more people still want to get involved, I will replace the registered limited edition coins as a perk with bullion/production coins as the perk offered.
Two reasons; These coins are not minted like softer metals. Osmium and Iridium are extremely hard with extremely high melting points. The best way to produce lettering or images is with laser etching. By having no raised or recessed letters or images, the exact volume of the coin can be calculated by measuring the exact diameter and thickness of the coin (which is accomplished simply with a sizing slot).
Except for the first 15,000 limited edition collectors coins that will be numbered and registered, Osmiridium coins will be bullion coins. They will have no numismatic value only intrinsic value. Regardless of who makes them, they will have to be made of pure osmium and or iridium. Because of the density of osmium and iridium, if a osmiridium bullion coin is contaminated with anything in the universe it will either be to large for its weight or to light for its size. Unlike gold which can be contaminated with out a change in size and weight, physics protects Individiuals from ever getting anything less than pure osmiridium when they buy an osmiridium coins. However, Physics does not protect the Osmiridium coin company from competition.
The limited edition collector coins can be copied, that is why they will be numbered and registered and bought and sold through the registry. If you, for example, own coin #121, when someone buys your coin you will change the ownership in the registry. Only one person can own coin #121 and we will know who the legal owner is so that we can protect the numismatic value.
The registration is what protects the numismatic value of your coin. To check the registration you would need to give someone permission and a password to check the registration which will be different from the password to change the registration. Only you can transfer the registration.
The coin shown in the video is a photo of the 1st prototype coin made which was made in 2015. the main coin on the home page has 2017 photoshopped on it to show that the Indiegogo coins will be labeled 2017.
There are two reasons that the purchase of 500 Kg of osmium powder is vital to this project. 1st - Osmium has a melting point of 5,500° F, a density above 22g/cc and almost as hard as diamond. These are high tech coins and the equipment and time needed to make each coin is expensive. The prototype coins cost me $4,000 each to make. To have enough quantity to bring the cost down to $100 per coin. I need to make 15,000 coins. 2nd - 500 Kg of osmium powder is the first step in creating equity between osmium and iridium. 500 Kg of osmium is about 1 years worth of world wide production of osmium. The purchase of 500 Kg of osmium plus the prospect of continued production of osmiridium coins will change the supply/demand curve in favor of higher prices for osmium.