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Thanks Pearls and railwayman2 for your opinions. Yes, the FDCs were heavily over marketed, a bit of a con job really but buyer beware and all that !! So maybe by 2300 they may be worth something especially also if many are soaking the stamps off theit envelopes !!! Hope this SGI recover at some stage, I lost seious money on them in the last 5 years, and now hold a fraction in case ..............!!
The initial release is 8000, but they are selling faster than I expected.
Pearls - 100% by 9 am tomorrow ? But 100% of how many.....certainly not of the 80,000 total ?
Clued - 1960'd and 1970's (and later) GB issues are of negligible value. A collector freind told me he had soaked off all the stamps from his FDC's, as he said it was the best way to get sets of "fine used". And GB decimal issues can be easily bought in bulk for significantly less than face value, to use for cheap postage (any decimal issues post-1971 are still valid). Over-promoted by Royal Mail at the time, and this is still the case for new issues, far too expensive to attract "pocket-money"
junior or casual collectors
"At this rate they will achieve 100% take up imminently, yet still the shares do not move???"
Pearls, I hate to break it to you, but this stock isn't viewed as a crypto stock like you may have hoped. I see you ramping this offering in other crypto stock boards as an alternative, but I don't think SGI have made a big enough pivot to crypto/NFTs/blockchain to receive attention from investors looking for stocks related to the sector.
Stocks like VLRM and QBT are examples of struggling companies that switched to crypto, but they went full throttle changing both their business model and even their names. SGI are still centred on stampcollecting and whilst the NFT offering is a start, I'm not sure it's enough to be viewed as an NFT-centric company. Given their heritage SGI are also unlikely to change their name either.
Honestly, Pearls, it's still not too late to buy Argo...
88% now.
Will it be 100% by 9am tomorrow?
But only 83% of the "Early Access Goal", not of the 80,000. I can't see where this "Goal" is stated anywhere as an actual number of proprotion of the eventual total offer, but the "bar scale" only seems to show very a small proportion ? Perhaps a bit of salesman's talk "buy now and avoid disappointment" ? LOL
83% now
73% now
Pearls, Argo Blockchain is by far much better investment than that excuse you posted on the ARB board. Do try and keep in lane, poppet.
https://cointelegraph.com/news/argo-blockchain-mines-record-597-btc-during-q3-2021
Clued, I think it is fairly clear that the shared ownership idea is taking off for SG. It only opened this morning, already 69% is taken up.
It's another thing however regarding the 1960's and 1970's FDCs. These were mass produced, and generally are of no interest or value unless specially signed by someone famous for example.
There are always exceptions of course, but certainly you won't find any interest in GB 1960's FDCs at markets / exhibitions. Older ones are wanted, but pre second world war stuff is notably more expensive as a result.
''We plan'' to have an open market place by June totrade these. Or maybe September .... or maybe 2022 ... or ...... maybe NEVER!
Come in SUCKERS. We have your money and you will never see it again.
All, do you think this Shared Ownership idea will take off for SGI at all ? As an avid stamp collector many years ago, and I still have the many thousands of stamps and hundreds of FDCovers locked safely away !!, not knowing if indeed there's any real value amongst them, do you think the serious demand for stamps that existed in the 1960s and 1970s will ever return even in 50 years time ? My collection will be passed to my kids and then to theirs, 'time in the market' to an extreme !!, so no plans to sell before my death !! Your views on this very welcome.
Slight correction: actually the offer to buy the fractional ownership has only been open since 9am this morning, not yesterday.
At this rate they will achieve 100% take up imminently, yet still the shares do not move???
Pears you won’t see that £90 again if you buy at discount, bathe stamp will need to sell for 35% on the highest ever price or 50% on the current price to break even - if you want to make 20% the value of the stamp will need to rise 75% on current sale price…
As much as I love stamps, the value of this stamp will never rise 75%
I see 67% of the initially offered ownership is already taken up, and it is only Tuesday - i.e. the offer has been open only one day.
''It's also interesting the stamp is not being referred by it's full name, leaving out any references to British Guyana. A little embarrassed about the atrocities created by British Imperialism? ''
GUANO is the shorthand version it seems!
The wording for selling as follows
"We plan to provide a marketplace before June 2022 through which collectors will be able to purchase/sell pieces of their Showpieces amongst each other."
So not an open market then but controlled by people who are already owners. That is the way I read it.
Well it looks like a fizzer already. No stampede of any kind, and no earthly hope to resell for at least 7 months. At LEAST 7 months. Talk about illiquid.
WHO would spend money on such a scheme?
Have received details of early ordering. Ninety pounds for one fraction.
According to the website 60% of early ordering target reached, so that must be in line with expectations.
Once the initial surge has worn off how well will the rest sell? As a gift idea, its perfect. Something with presumed worth which cannot be redeemed.
I can't believe I'm typing this, but I'm considering buying a few pieces at 10% discount and then reselling at a later date for a quick buck.
Pearls, is this you on Twitter?: https://twitter.com/jublix/status/1457725457307217921?s=20
I’ve just received the email allowing access to buy. It looks like 2880 pieces have been purchased so far out of 80,000 total (3.6%). Are you chaps buying?
Railway, I suspect you are correct regarding legal implications for under 18's. Having read through the Showcase email, it appears that buyers of the stamp will not have direct self custody - the tokens will be held and secured by Showpiece/Stanley Gibbons, with any transfering of tokens requiring approval and rubberstamping.
This is in contrast to companies like www.nifty.gi who require buyers to use their own digital wallets, giving individuals total custody of their tokens and more importantly, complete control (to send the tokens to whomever and whenever they choose, irrespective of age).
Showpiece/StanleyGibbons method can be considered more centralised and does not align with the ideals of decentralisation and "cutting out the middleman". However, it does save buyers/owners from having to deal with digital wallets which some people may find convenient.
I'm becoming quite intrigued as to the success or otherwise of the Maganta offer.
A price of £100 would seem to, possibly, restrict this to older collectors with this amount to spare, just at this moment, and sufficient interest to put this amount at risk (maybe as opposed to spending it on a nice specimen for their own particular collection). Are there 80,000 of such collectors about ?
A pure investor would (just as we all do before we invest in any company) look at the history, current and projected future prospects of the company and its activities, a comparison with competitors, any likely economic and political influences on its future activities, maybe any take-over prospects, the record of its management, the marketability and spread of its shares, dividend record, what we might loose (and stop-loss) if things don't work out as we hope) etc., etc.
"Shares" in the Maganta offer none of these to consider ?
Regarding the offer excluding under-18's .....maybe some legal reason why minors can't participate ? It is sometime perfectly possible to invest for children and grandchildren under 18, as I have modestly done for two of ours. But, if I want to encourage my kids into collecting, giving them a share in this stamp (if possible) would not interest them in the slightest.....OTOH, a cheap album, a packet of 1,000 "all-world assorted" and a packet of hinges, would (and has) kept them happy for hours... and no worries or loss if it all eventually gets shoved in a drawer to be replaced by the next interest. LOL
Hi Pearls, I haven’t changed my opinion on the future prospects of SGI or the stamp collecting industry, and still believe there are more profitable investment opportunities to be found elsewhere. Although I am intrigued by the concept of fractional ownership/tokenisation of real world assets, be it stamps or anything else. There are a few UK companies operating in this space already, but since I’m here I may as well sign up to SGI’s offering to see how it works.