Questions and Answers
Osmiridium is a combination of two elements, element #76 Osmium and its neighbor #77 Iridium. Osmium and Iridium are practically identical twins. They are the very densest (heaviest) elements in existence at 22 1/2 g/cc and are both much more rare than Gold or Platinum. Every year mining around the world produces about 2,500 metric tons of Gold, but only 3 metric tons of Iridium and only 0.6 metric tons of Osmium. It is thought that early in the formation of the earth these very dense element “sank” into the center of the earth. Osmiridium is like cartoon kryptonite. The Osmium and Iridium that we find today came from outer space, via asteroids and meteorites from blown up planets like the cartoon planet Krypton. Osmiridium also is extremely hard and has a very high melting point. The melting point of Iridium is 4,471 degrees F and the melting point of Osmium is 5,491 degrees F. Hot lava has a melting point of 1,300 to 2,400 degrees F. So, Osmiridium melts at more than twice the temperature of hot lava. If Sauron in Tolkein’s Lord of the Rings had made the One ring out of Osmiridium, throwing it into the hot lava of Mount Doom would not have destroyed it or even deformed it. When the lava flow had cooled Sauron could have chipped away the solid rock and reclaimed the ring unharmed However, Osmiridium is not science fiction or fantasy, it really exists. Because of it's extremely high melting point and hardness, it is very difficult to fashion into a coin. It cannot be minted like gold or silver but with modern technology we are able to create coins of osmium/iridium (osmiridium).
Density is the degree of compactness of a substance measured by the quantity of mass per unit volume. In other words what does a given volume of something weigh. A gallon of water weighs less than a gallon of lead. One way that density is measures is in grams per cubic centimeter or g/cc. One cc of water weighs 1 gram so water weighs 1g/cc. One cc of lead weighs 11.4g so lead weighs 11.4g/cc. Since water is 1g/cc the density of anything expressed in g/cc tells us how may times heavier that water it is. Iron weighs 7.9g/cc so iron about 8 times heavier than water. lead weighs 11.4g/cc so lead is about 11 1/2 times heavier than water. Back to our gallon of water and gallon of lead. A gallon of water weighs 8 pounds. Lead weighs 11 1/2 times as water so a gallon of lead weighs 92 pounds. Since the volume of lead is being compared to the same volume of water lead is 11 1/2 times as dense as water. Gold and tungsten are 19 times denser than water, so a gallon of gold weighs 152 pounds, a gallon of tungsten also weighs 152 pounds. Osmium and iridium are 22 1/2 times denser than water, so a gallon of either osmium or iridium or osmiridium weighs 180 pounds. Imagine trying to pick up a gallon jug that weighs 180 pounds. The answer to the question, “why is density important” is answered in the next three sections: What is an osmiridium coin? Why do I want to create osmiridium coins and Osmiridium vs. Gold?
An osmiridium coin is a coin made out of 99.99 pure osmiridium. That is to say, either entirely pure osmium, entirely pure iridium or some combination of pure osmium and pure iridium but less than 0.01% of anything else. Both osmium and iridium (osmiridium) have a density of 22 1/2 g/cc which is denser than anything else that exists. Osmium and iridium (osmiridium) are the only elements that can be easily identified with absolute certainty by using nothing more than its size and weight. And by absolute certainty I do mean absolute certainty. Physics makes it impossible to counterfeit osmium and/or iridium (osmiridium).
I worry about the national debt and unrestrained printing of paper money. I worry that hyperinflation and world wide economic hard may be headed our way. Gold has always been a source of wealth protection, peace of mind when times are good and a way to ride out the storm when times are bad. My knowledge of history tells me that right now protecting some of my wealth by investing in precious metals is a good idea. But, my knowledge of science and technology tell me that gold my not be the right choice. I wanted to invest in precious metals that I could be absolutely confident in. Precious metals that could not be counterfeited, that could be traded between individuals and verified by both parties as genuine and pure. Osmiridium is the only precious metal that can be easily verified by size and weight alone. Osmiridium coins are what I was looking for as a safe easily verifiable and tradable precious metal. But, osmiridium coins do not exist. Because no one is making and selling osmiridium coins I decided to be the one to introduce osmiridium coins as a way for people to invest in this amazing precious metal. Osmiridium coins are not patented and I welcome competition in the production and sale of osmiridium coins. We are creating a currency that can be verified with absolutely no chance of being counterfeited or faked. Gold used to be that currency. Once Archimedes discovered that the amount of gold in an object could be determined by its size and weight, gold was the currency that could be verified with absolutely no chance of being counterfeited or faked. That was before the denser metals that were very hard and had extremely high melting points were discovered. In the ancient world they had no idea that these other metals existed because they didn't have the technology to find or remove the metals from the ore. Today the extremely high melting point metal tungsten is a very common metal and very inexpensive. It also has the same density of gold. Today we also know that osmium and iridium are the two densest elements that exist. So it is now time to create a new currency that serves the purpose that gold served for so many years. Osmiridium is the only currency that can serve that purpose and because of what we now know about the elements it will be the only currency that will be able to be a non counterfeit able currency now and forever.
Gold has always been the standard of precious metal wealth protection investment. Gold was easy to work with, easy to make coins out of and since Archimedes discovering the principle of displacement and density evaluation, gold has been easily identified and verified by its size and weight. Archimedes was able to tell the king if his gold crown was contaminated with other metals such as silver. For a long time using Archimedes discovery of density determination (size and weight) anyone could determine the purity of a gold coin. Then came tungsten, rhenium, osmium, iridium, platinum and uranium, all metals that have densities that are as high or higher than gold. The reason these metals were not a concern was that they are so hard and their melting points so high that until modern technology made production of these metals possible they could not be extracted and purified out of the ore that contained them. Today, however, any of these metals can be used in the making of fake gold coins. A simple tungsten core covered in real gold is the simplest way to fake a gold coin because tungsten has the same density as gold. Even more elaborate fakes are possible with elements that are heavier than gold because if the denser elements are used as the core of a fake gold coin the denser element can be covered with the lighter element silver and then covered with real gold giving the fake gold coin a thicker "soft" layer with electroconductivity properties that match gold. Because gold coins are easy to counterfeit gold coins are not something that you want to buy on eBay. If you want to buy gold you need to buy from a trusted source like Goldline and rely on them to verify the purity of the coins. Once you have the coins you should sell them back to Goldline because using a gold coin for trade is a matter of pure trust between the parties involved in the trade. If I don't know you I will not give you a cow in exchange for a gold coin. Even if I do know and trust you I still will not give you a cow, or anything else, in exchange for a gold coin because someone else may have sold you a fake. Osmiridium coins are not a matter of trust. Osmiridium coins are easily and absolutely identified as the real thing by the size and the weight of the coin i.e. 1 Troy oz that measures 20mm by 4.5 mm or fits through a slot that is 20 mm by 4.5 mm.
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.
You may be wondering, how do I know how much osmium and how much iridium is In an osmiridium coin? The answer is that you don't. A coin made of osmium, iridium or any combination of the two elements will have the same density (the same size and weight). I plan to sell the coins as pure osmium or pure iridium. So, if you buy from osmiridiumcoins.com you will get pure metals. However, the point is that you should not pay more for one than the other. A caveat to this is if you like the appearance of one over the other, the shiny silver of iridium or the slight blue hue of osmium. Even then you should not pay any more than it would cost to electroplated one of the two metals n top of the other metal. If osmium coins are selling for a little less than than iridium, consider the osmium coins to be on sale and vice verse. I considered mixing the two metals so that they just sold for one price and the amount of each metal used was determined by the price of each metal at the time the coins were made. I do believe that customers would prefer to have a pure metal and the price of osmium and iridium will still equalize due to increased sales of the lower priced metal. Making and selling osmiridium coins will keep the value of osmium and iridium equal. Here's how. As I mentioned earlier, the worldwide production of iridium is about 3 metric tons which is 5 times the worldwide production of osmium at 0.6 metric tons. There is very little osmium produced. There is also very little that osmium is used for. Each year a small amount of osmium is oxidized to create osmium tetraoxide. Osmium tetraoxide is used as a stain for electron microscopy and that is it's only practical use of osmium today. So any use of osmium will drive the price of osmium up. However, if the only substantial use of osmium is osmiridium coins then the price of osmium will rise to match the price of iridium but it should not surpass iridium because if it does than fewer osmium coins will be purchase and more iridium coins will be purchased instead. However, a lot of iridium is being used for other things. Some of the worldwide production of iridium is being used for long lasting iridium tip spark plugs. Most of the worldwide production of iridium is being used for iridium crucibles to grow sapphire crystals that are used to make flat screens e.g. TVs, computer monitors, smart phones and tablets like the iPad that I am writing on. If the demand for iridium rises for industrial uses then the price will rise and fewer people will buy iridium coins but buy osmium coins s instead. In this scenario, osmium will be temporarily less expensive and "on sale". The predominance of osmiridium coin sale will be osmium until the prices equalize again.
Osmium is is more difficult to work with than iridium. Osmium does have a higher melting point than iridium (5,491 degrees F vs. 4,471 degrees F, more than 1,000 degrees higher). The higher melting point greatly raises the energy costs for working with osmium. Also, fine metal powders with oxidize easily. Steel wool will burn if you light it and aluminum who's most attractive qualities is that it is light and does not oxidize quickly can explode when it is a fine powder. If Osmium powder oxidizes it creates a very toxic gas. Therefore, osmium powder has to be handled as a hazardous material and the equipment we use to create osmiridium discs containing osmium has to be dedicated equipment that is not used for anything else. All of these factors increase the cost of using osmium. A big part of the expense of setting up to make osmiridium coins is investing in equipment that can process osmium as well as iridium and that is dedicated to making osmiridium coins and nothing else. The reason that I am willing to incur the added expense needed to process osmium is so that the price of osmium will move with the price of iridium.
The price of the iridium will fluctuate depending on the demand for iridium for applications other than osmiridium coins. The price of osmium will be based on the price of iridium because the amount of osmium used to make osmiridium coins will keep the price of osmium equal to the price of iridium. This is the reason the price of the osmiridium coins will be based on the price of iridium. Because the cost of making osmiridium coins is high the value of the osmiridium coins will be the price of iridium plus the cost of making the coin which is much higher than making a gold or silver coin. Osmiridium coins are very difficult to make but once made also very difficult to destroy. Osmiridium coins inc. will sell osmiridium coins for (Spot price of iridium + $55)/.9 The price of iridium + $55 for manufacturing + %10 profit. For example when I wrote this Dec, 2016 the price of iridium was at $700. The selling price would be $839. There are two possibility that I see for these coins. The first possibility is; I plan to market osmiridium as a safe, intelligent way for investors to invest in a precious metal that they can have absolute trust in because the composition of the coins can be so easily verified by the density. If I am successful in educating the public and effectively marketing osmiridium coins, the Indiegogo coins will have a unique place in history by having launched this new technologically advanced method of wealth protection through easily verifiable precious metal coins. When osmiridium coins are in abundance and the general public is aware of them the Indiegogo coins will become very valuable and easy to sell. The second possibility is; if the marketing of osmiridium falls short. Then the Indiegogo coins will be very rare because they will not only be limited addition coins but there will be a lack of other similar coins. Then the Indiegogo coins will be high numismatic value with coin collectors because of their rarity. Either way I want these Indiegogo coins to quickly become worth much more than than what you paid for them. Not only will you have helped me make osmiridium coins a reality, you will be making a good personal financial investment. The price of precious metals in general and the non gold or platinum precious metals in particular has always been very susceptible to speculation. From 2004 to 2008 rhodium when from $400 a Troy oz to $10,000 a Troy oz (a 25X increase) purely on speculation. Then at the end of 2008 the speculation bubble burst because there was not a dramatic increase in the demand for rhodium. If you look at the price histories of other precious metals they have less dramatic but similar price fluctuation. By making and selling osmiridium coins we will dramatically increase the demand for osmium and iridium. In addition, the speculative nature of precious metal prices should cause a quick price increase even before the manufacture of the coins has a significant impact on the supply of osmium and iridium. However, unlike rhodium the continued use of osmium and iridium for osmiridium coins will continue to decrease the available supply of osmium and iridium keeping the price high. The 15,000 Indiegogo coins will be unique and different from the regular osmiridium coins that I will sell later. First, the Indiegogo coins will be pure osmium. Second, the Indiegogo coins will be laser etched with Ingiegogo and the number of the coin. Third the Indiegogo coins will be registered. To protect the integrity and value of the Indiegogo coins we will register the coins. When you purchase a coin you will be registered as the owner of the that specific coin. If you buy the coin Indiegogo 1 Troy oz. Os 00463 of 15,000 you will be registered as the owner of Indiegogo coin #463. Our website osmiridiumcoin.com will keep track of the owners. As an owner of a Indiegogo coin you will have password protected access to proof of registration for your coin.
First getting osmium and iridium close enough to theoretical density to make them uncounterfeitable is something that only recently has not been technologically feasible. Second I realized that the because osmium is produced in such small quantities the price of osmium can be kept the same as the price of iridium simply by using just enough osmium in the osmiridium coins to keep the price the same. Without keeping the price the same and treating them as the same iridium coins can be counterfeited using osmium and osmium coins can be counterfieted using iridium. However, the combination of osmium and/or iridium cannot be counterfeited by anything in the universe.
Osmiridium can be used as currency the same way as gold, silver or platinum coins are used as currency. The advantage that osmiridium coins have over any other precious metal is that it can so easily be identified and verified with absolute certainty. The obvious reason that any precious metal is considered a good wealth protection investment, is that precious metals can't just be printed at will the way paper money can be printed at will causing the paper money to become worthless. It is true that gold and silver have additional technical and industrial uses in addition to decoration, jewelry and currency. However, if gold and silver had a lot of value for many centuries when they were only used for Currency, jewelry and decorative purposes. Diamonds pretty much only have value as jewelry. The industrial use of diamonds for their excellent cutting properties utilize, for the most part, only diamond fragments that are too small for jewelry or synthetic man-made diamonds. The value of that these diamonds have for use in jewelry is due mostly to their rarity. They are beautiful but cubic zerconium have fewer flaws and are just as beautiful. It was just the appearance, everybody would use only cubic zerconium. People want to have real diamonds because they cannot be made by man and they are rare. Osmium and iridium used as a currency Osmium and iridium are so rare and exist in such minor quantities, mixed with other platinum group metals, that no one will ever mine for just the metals osmium and/or iridium. Even if osmium and/or iridium became worth $100,000 an ounce there is not high enough concentration of these metals, in any one place, to mine for just those metals. They are and always will be a byproduct of mining other metals. When gold, silver or platinum become more valuable they are more aggressively mined and previously inactive, less productive, mines are reopened which increases the supply and decreases the value of those metals. The supply of osmium and iridium will always be dependent on the mining activity for other platinum group metals. In an economic collapse where hyperinflation has caused paper currencies to become worthless and precious metal coins to become more valuable there will likely be more mining for those precious metals which will restrain the price increases. In addition, in bad economic times there will be a dramatic reduction in the industrial uses for these metals which will actually increase the supply available for use as currency. Osmium and iridium will be affected much less by increased mining or decreased industrial use.
The first 15,000 limited edition osmiridium coins will given out as perks for donation on Indiegogo. If and when you want to sell a coin, you will have two options. First option Find a buyer, go to the website osmiridiumcoin.com, enter your password and show the potential buyer that you are in fact the owner of the coin you are selling. Once you have sold the coin allow the new buyer to change the owner information and password. Second option Go to the website osmiridiumcoin.com and enter your password. There will be an option "I want to sell my coin" chose and verify this option. Your coin number will be listed for sale (without your name or personal information). The website osmiridiumcoin.com will have a list of coins for sale. Others will be able to bid on these coins. If you get an offer that you like chose “accept” and verify. We will then handle the transaction. The buyer will send us the money. You will send us the coin. We will then send you the money and the new buyer the coin and change the ownership on the registration of that coin. We will also authenticate for no charge. If you don’t want to own an accurate scale, send the coin to us and we will authenticate for no charge. You will only have to pay the cost of shipping to us and back to you.
Osmiridium combines the best characteristics of both gold and bitcoin. Osmiridium is a unique Currency because it is un-counterfeitable by the laws of physics. But how does it compare to other currencies like gold and bitcoin. Osmiridium Is unlike gold and more like bitcoin in the fact that there is a more limited amount. Osmium and iridium are very minor byproducts of the mining of other platinum group metals such as platinum and palladium. Osmium and iridium are not mined for directly and will not be mined for in response to increased value. When the value of gold goes up, less productive mines are opened to produce more gold which in turn brings down the price of gold. A key selling points for bitcoin is that the value of bitcoin will not be able to be manipulated by government printing of money like paper currency. The price will not be able to be manipulated by changing mining activity like gold or the release of gold from government reserves. Osmium and iridium mining activity will not change so to influence the price and no governments are holding any osmium or iridium as precious metal reserves. Osmiridium Is unlike bitcoin and more like gold in the fact that it is a physical asset unlike bitcoin which is an electronic creation. Whereas osmium and iridium are very rare precious metals in the Platinum Group of precious metals, you can hold osmiridium coins in your hand, store them in your safe deposit box and physically exchange them.
Technically these “un-counterfeit-able” osmiridium “coins” are rounds not coins and they are un-contaminate-able not technically un-counterfeit-able.
I created these coins to be used as a SAFE way for lay investors to buy precious metal bullion with no special analytic knowledge.
I chose to use terms as they are understood by the average person.
Most people think of coins as any metallic disc shaped object that has value. Some coins are bullion coins. Bullion coins have intrinsic value because of the metal they contain, e.g. gold, silver, platinum, osmium or iridium. True coins have value by fiat. In other words, the metal they contain is not worth as much as the coin is worth. The coin has value because it is issued and backed by a government.
Most people think of un-counterfeit-able as something that can’t be replaced with something of little actual value. They are thinking about whether or not the bill or coin in their hand has the value that it is suppose to have.
In the case of bullion coins, American Gold Eagle or Canadian maple leaf, for example, The value of the coin is determined by the value of the gold it contains. The coin has no numismatic (collectable) value nor does it have any value by fiat. If someone is going to counterfeit an American Gold Eagle or Canadian maple leaf they are going to make a replica that is contaminated with a metal of little value but equal density hidden in the coin.
In other word, the buyer of a bullion coin is not worried that someone other than the Government has made a fake $1,200 gold coin out of pure gold worth $1,200. The buyer is concerned about whether or not the bullion coin that they are buying actually contains $1,200 worth of gold. They don’t care who made it. They care that it contains the amount of precious metal that it is suppose to have.
Osmiridium “coins” (rounds) are “un-counterfeit-able” (un-contaminate-able) because the laws of physics protects the buyer. As the producer of the coin I am not protected from competition.
Technology comes to the tangible assets of platinum group metals.
Gold and silver have always been the standard for precious metals investments but people do invest in other Platinum Group Metals such as platinum and palladium. Osmium and iridium are Platinum Group Metals that are even less abundant than the others. Until now, they could not be made into coins because of their extreme properties.
Because gold is so valuable there is a lot of incentive for criminals to make gold coins contaminated with less valuable metals that have the same density. Gold covered tungsten coins are the most common coins used to defraud gold buyers. More elaborate mixtures of denser metals combined with silver have also been used to match both the density and electroconductivity of gold.
Even though Gold and silver are the standard, bit coin has shown that there is an openness to new technology, especially if that technology protects the investor.
Consumer protection is something that Osmiridium coins have in common with electronic currencies.
Blockchain technology assures that each Bitcoin or Etherium coin is authentic. Physics assures that each osmiridium coin is pure osmium and/or iridium.
Regardless of who makes osmiridium coins in the future, osmiridium coins 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 not 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 coin.
Physics does not protect the Osmiridium Coin company from competition.