Creating your own private AOCS Approved Currency is simple. Here is an overview as to how this process works within the structure of the AOCS.
For a private Currency to be considered “AOCS Approved”, your Currency must:
- Use an AOCS Approved Mint for blanking and final strike
- Reference the label “AOCS Approved”
- Use a face value that matches the current “Series C” valuation of “FIFTY” or have no face value, just a weight in oz or grams and purity, ie “1 oz .999 Fine Silver”
Each of these criteria is required to promote and ensure acceptance and circulation within our Merchant network. The AOCS serves 3 main functions: we certify the weight and purity of each AOCS coin, specify the trade value of AOCS Silver, and manage the Merchant MarketPlace.
There are no design requirements. It is not the job of the AOCS to approve or deny any concept, regardless of how pleasant or vulgar it may be. If found appropriate, the AOCS may decide to list your Currency on the hosted list of Approved Currencies.
Recommended Currency Introduction Procedure
1. Create a photo-realistic version of your concept: We will recommend an artist that will create GREAT results. The artist will produce 4 files: obverse and reverse (front and back) photo-real as well as obverse and reverse die-map. The die-map graphic is used by the die-cutter to create the actual die used to strike the metal. All 4 files are required to produce your coin.
2. Pre-sell Currency to your community: If you don’t have a target market, then consider for a moment what your concept is and to whom it will appeal. Identify your community, which may be ideological or geographical. Maybe your town has a symbol of pride or a mascot, or you are instead designing a Currency for an abstract idea or goal. Based on the law of branding, the more specifically you design your product, the greater impact it will have on your market. Generally speaking, if you pre-sell 1000 pieces, you will cover your start-up costs.
3. Calculate total start-up costs: dies and artwork will cost about $3000 total. Each vendor also accepts payment in Silver through a simple conversion tool. Please contact the AOCS Service Department to confirm your cost to mint each 1oz round.
4. Purchase Materials: shortly after pre-sales begin, you will need to purchase the silver and dies. Do this when you know that the volume of pre-sales (plus your own funds) will cover all the costs. Therefore, if you have $1000 of your own money, you only need to pre-sell approximately 500 pieces to “cover” the initial production costs.
5. Market your Currency: once your initial silver order is placed, you are welcome to introduce your Currency to the network of AOCS Community Trade Coordinators. The CTC’s are your independent sales reps, bringing your private Currency to their distribution networks. You may make your Currency available at whatever price structure you desire, but to remain competitive with other Currencies we recommend no more than .50 to 1.00 over your cost. Eventually, CTC’s will order volumes of your Currency and simply pay a license fee for each coin produced to You!
As a Currency, you have access to Silver at the lowest available price. Authorized Mints gladly accept orders for 500oz or more. Please contact the sales team for a quote.
The die-cutter requires approximately 2-3 weeks to craft your custom dies. Fortunately, it takes about the same amount of time for the Mint to receive your silver blanks. Therefor, total lead time for the first order is only about 3 weeks!
When you’re ready to get started, contact the Service Department for further instructions.