Review of the Bitcoin Penny: A Commemorative Coin
Collecting physical Bitcoin memorabilia is quite a fun experience. Not every collector wants to get their hands on these items from a monetary perspective, as there are many bits and bobs to collect which hold no intrinsic value on their own. The Bitcoin Penny is one of those commemorative coins that are cheap, have no Bitcoin […]
Collecting physical Bitcoin memorabilia is quite a fun experience. Not every collector wants to get their hands on these items from a monetary perspective, as there are many bits and bobs to collect which hold no intrinsic value on their own. The Bitcoin Penny is one of those commemorative coins that are cheap, have no Bitcoin value stored on them, nor can they be used as a physical Bitcoin wallet. But that doesn’t make them less interesting or fun.
Also read: Introducing Bitcoin to Family and Friends
The Bitcoin Penny: A Commemorative Physical Coin
The design of the Bitcoin Penny itself is rather simple: a small bronze coin with a little engraved text on the side. On the front, there is a traditional Bitcoin logo present, which looks great on the copper surface of the coin itself. On the back, we find a different Bitcoin image, with the word “Bitcoin” imprinted on a globe. Bitcoin is a digital currency for everyone around the world, so the back of the coin is themed accordingly.
As mentioned before, the Bitcoin Penny is a commemorative coin, which holds no value on its own. It is important to note that the Bitcoin Penny is just a collectible item and was never intended to serve as a physical coin to store Bitcoin. But that doesn’t mean the Bitcoin Penny has no value in its own right, although it is substantially less compared to physical Bitcoins used for cold storage purposes.
Bitcoin is often referred to as the money of the future, yet it has no physical presence in the real world. Even storing a Bitcoin balance on your mobile device is not a physical form of payment, as the transaction itself takes place in an electronic way. This is why having a novelty item, such as the Bitcoin Penny, is a fun and exhilarating sensation.
USA Minted Coins in Three Different Flavors
As far as the minting process goes, every Bitcoin Penny to be found in circulation is minted in the USA.
Purchasing the Bitcoin Penny can take place through three different means:
First, there is an individual order option, which awards customers with two Bitcoin Penny coins, for a price of $6.99 USD (excluding shipping).
Option number two comes in the form of a Bitcoin Penny Short Roll, containing no less than 20 of these coins. Every Short Roll comes wrapped in classic brown, heavyweight Kraft paper, for the price of US$59.99 (excluding shipping).
Last but not least, there is a Bitcoin penny Limited Edition Roll, of which only 20 are made in total. Every Limited Edition Roll is numbered and contains 40 coins. A Bitcoin Penny Limited Edition Roll will cost US$99.99 (excluding shipping).
Speaking of shipping, the Bitcoin Penny commemorative coin can be shipped to locations in the US at a flat rate of $2.99 USD, whereas international shipping costs $6.99 USD. From personal experience, I can confirm the receipt of a two-pack of Bitcoin Penny commemorative coins to Belgium within 11 days after shipping.
While every Bitcoin Penny has a “2015 branding” on them, it remains to be seen whether or not the creators will make a 2016 version as well. So far, the general feedback on this coin has been very positive, with many people picking up the coins for novelty and collectible purposes.
Most Bitcoin Penny customers will not only receive the coins they ordered, but also a random doodle by the coin creators. This is just a little extra something thrown in to show appreciation for the interest in this coin, and most drawings are quite funny as well. Click here to see a full-sized image of the doodle I received.
Images courtesy of The Bitcoin Penny
The opinions expressed in this article do not necessarily reflect those of Bitcoin.com.