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.
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.
