so the mint works like this: you establish a financial relationship, we would have to put money down for dies. and we would get a quote "spot + $x.xx per coin". then when we want to purchase tom calls up the representative and says go, at today's spot price. then like buying a stock on the market you are locked in at that price and we owe it. several ways to pay, wire transfer, cashiers check, etc.
so any credit transaction has fees (us to tom for our shares, tom to mint for purchase, etc.). checks and direct banking are cheaper, the credit fees would rival the die fees on a transaction like this.
the exact final price per ounce would not be known until day of transaction, strike price. the other charges like die fees, premium over spot, tom shipping would all be known, just spot price of silver that day is unknown.
so it would be best for tom to set up an 'escrow' type arrangement. for example i want 30 ounces, 4 premium and 1 shipping per coin if silver is 15 that day it would cost 20 per coin. so i send tom a check for 600. everybody else does the same. tom holds the money and when checks clear or he is comfortable that he will get paid then he calls the mint and locks in spot price transaction some day. it may end up silver dropped and is only 14.85, or maybe it went up to 15.50. so i would either get 4.50 back or owe 15.00.
probabky best is to put down a substantial deposit, like 75% of estimated price. then when final price is known send the balance or forfiet your deposit. i could build a spreadsheet to track it.
but we need commitments for at least 400 of the 500 minimum ounces, and people willing to buy in and put down deposit. all money goes to tom. all silver shipped to tom. then settle up and tom ships to you.
we are making this too complicated. if i had 12 grand i would just do it myself. but i will commit to 30 ounces and send my deposit check when if we are ready. we need 400 ounces commitment before get the mint to start its die design work for us.
