Minting coins for our Republic

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Re: Minting coins for our Republic

Postby Gaius Curtius Philo » Tue May 02, 2017 4:02 am

Procula Valeria Messalla wrote:
Thanks!

If it was me, I would do things in this order.

Shirts and other merchandise with zero start up cost -> sell lararium -> sell flags -> sell other things


The shirts, mugs etc are already on their way. We are still deciding on the group to use to sell it (probably the same site Maecenas used)

The Lararium building is also underway. We are still confirming a possible producer, but it's nothing certain. I'll keep you updated.
"Ignis aurum probat" - Seneca
C. Curtius L. f. Vot. Philo Aurelianus
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Re: Minting coins for our Republic

Postby Procula Valeria Messalla » Tue May 02, 2017 4:23 am

Why no public senate discussion on these other topics?

Forget the coins, go where profit is all but guaranteed!
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Re: Minting coins for our Republic

Postby Gaius Curtius Philo » Tue May 02, 2017 4:27 am

Procula Valeria Messalla wrote:Why no public senate discussion on these other topics?

Forget the coins, go where profit is all but guaranteed!


Because no one made them lol All the public discussions were made by citizens. I encourage you to make them! I think it is in everyone's interest. So far it has only been debated privately so that we might have a full proposal to present to you guys.
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Re: Minting coins for our Republic

Postby Procula Valeria Messalla » Tue May 02, 2017 4:58 am

Philo, I think you misunderstood me. Why are these items not part of the current senate agenda?
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Re: Minting coins for our Republic

Postby Gaius Curtius Philo » Tue May 02, 2017 5:28 am

Procula Valeria Messalla wrote:Philo, I think you misunderstood me. Why are these items not part of the current senate agenda?


Ah, now I understand. It was because we were trying to do this first because it has been requested since last year. The Consul seems to have simply thought it took precedence because of that. We're still seeing those details on the other stuff. But your collocation put some food to thought and we'll be working to have it up and running in the next Senate meeting. I also questioned the coin minting on the Senate. Let's see what the other Senators think.
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Re: Minting coins for our Republic

Postby Gaius Florius Lupus » Tue May 02, 2017 11:02 am

There is a misconception about the coins.
Apart from the initial investment in dies it neither costs any money nor does it generate any money. It is simply a currency. That's all. And the Republic decided that we want our own currency.

To clarify another misconception, silver coins are actually cheaper to produce than steel coins without intrinsic value, gold coins would even be cheaper. This is due to the softness of the metal. This makes a difference in costs for the dies.
Yes, it is true, we need raw silver disks to produce coins, but the money is not spent. It is still in the treasury, only in a different currency. Therefore the raw silver disks create no costs, raw steel disks however create costs. If we buy them, the money is spent.

No, we do not need to buy a safe. How many silver disks do you think need to be stored? We only need to store as many as the citizens demand in a month, total value perhaps US$ 200. You want to buy a safe to store US$ 200? We need to remain realistic about the number of physical coins that are needed. Virtual denarii do not need to be stored as physical silver, silver price ETCs are sufficient to protect the treasury against currency volatility.

There are no costs for shipping coins for the treasury. The shipping costs are paid by the citizen.

You habe to understand that a silver based currency is in no way more expensive than souvenir coins, it is actually cheaper. But it requires more thinking, planning and voluntary work.

Valeria Messalla, you are right, when it comes to generating funds. Other items will generate more profit. A silver currency generates no profit at all. It is not supposed to do, it is a currency nothing else.

We should stop talking about costs and profit in this project. There is neither. Silver does not cost money, silver is money. Maybe a Frensh or Spanish speaking person understands this better, because in many Romance languages it is the same word.
We have to decide whether we want a denarius currency or not. Forget about non-existing costs!

Philo, mi amice, it is important that you understand this concept of currency, because you are in the Senate. Your voice has weight. You have the ability to convince the others. If we do this wrong, then it will fail like the coins project of Nova Roma that tried the same approach as the Senate is pursuing at the moment. It will only drain our funds. Only the full currency approach with manually struck coins is flexible enough to adjust to demand and keep the initial costs low. If we go for industrially produced batches of coins, we will have many unused coins and no second batch will ever be produced.
Let us learn from earlier mistakes! The Nova Roma coin approach, of which our current one is an exact copy, has not worked. It will not work this time either.

Valete!
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Re: Minting coins for our Republic

Postby Gaius Curtius Philo » Tue May 02, 2017 4:22 pm

Salve Lupe amice,

I promise you i will tackle this matter with the Senate and we will see what we can do. I think it is doable. If all it takes is to fix the cost of the denarius to silver, with no cost on our part, it frankly doesnt seem like a problem. It would not be a fundraising project but could be a good extra project to increase the utility and thus attractiveness of the Denarius.
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Re: Minting coins for our Republic

Postby Quintus Aurelius Vulscus » Tue May 30, 2017 8:36 pm

Salve everyone,

I would like to offer my humble opinion, and tackle some issuses I've seen posted.
Firstly, somone had mentioned sending the currency via mail and being worried about it not getting there, and the possibility that a corrupt citizen could claim to have never received them. This isn't even a problem. This isn't the 1950s you can sens things now with tracking numbers, send itsecured where they have to sign that they received the package. Now, wait before you say it I already know, that's extra money. But is the added expense worth the security of knowing that the shipment was delivered? I say the benefit outweighs the cost.

Next, Someone mentioned storage. Why not have each provincal governor hold some? This would spread the currency around a bit more. Yes, I understand thst elections are held annually and it is possible that the governor would change yearly. However, each governor willing to hold currency would then accept the responsibility of transfering the currency to the next governor.

Cost: if the citizens of the Res Publica really wanr this then it should be easy to use crowd sourcing platforms to easily fund this project.

Also, I would like to mention that, with the blessing of the Senate, each Province could mint a coin as well. Now, this should be only in the commemorative area like that of the Gens.
Personally, I wouldnt mind giving one from my province to each citizen, currently there are little more than 500 of us (I am citizen 501).

Those are just my thoughts.

Strength and Honor
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