Denairum is a small startup based in Finland but DO NOT underestimate their quality when it comes to minting coins. Their coins are more than a collectors treat.
Physical coins don’t have a wide reach, this is a niche limited to collectors and geeks. There are only a handful of companies that mint physical coins since there are few takers around the world. One more problem is the fact that rather than being sold as a coin of practical value, most of them are sold as being the perfect gift or limited series editions or collectibles.
We got our hands on their gold plated coins and are totally impressed with the fact that it is way more than a collectible. Denarium has taken the physical coins seriously and they come with a lot of measures to make it practically useful (atleast for once).
It is more like a regular physical coin but unlike the previous generation of Coins from other minters, these have a QR code on the bottom already printed.
The coins are great to feel and come in a small round case to keep them safe from scratches / fingerprints. It is shiny an really light in weight.
Physical Aspects (custom value – gold plated variant):
Diameter: 2,86 cm / 1.126 inches
Weight: 7,65 g / 0.27 ounces
Material: Gold Plated (3 µm) Brass
These coins can hold up-to 5 BTC on them, the minim being 0. You can make your custom order over here.
It is IMPOSSIBLE for anyone to intercept the coin and take the funds out of them. If anyone other than the intended owner gets their hand on it, it is practically of NO use to them whatsoever.
How is that achieved?
Denarium has an activation process where you would need 2 codes that are specifically assigned to your coin. One is the “E-mail code” which comes via email and the other is the “shipment code” which comes printed on a card within the package.
The coin would be funded only if both the codes match and you confirm that the coins is “GOOD”.
This makes it pretty much secure and renders it useless to anyone who steals it.
The first generation coins lacked MultiSig support, for most of the enthusiasts this is a must-have feature and so Denairum has an option where you can pay to enable MultiSig for your coins. There is kind of a poor decision since we believe MultiSig support must be present by default on all coins but seems like these are cost cutting measures to make them as affordable as possible. A common collector would choose a cheaper price over MultiSig support.
Redeeming the Coin
We have already mentioned about the QR code present beneath the coin. In order to redeem the funds one has to remove the hologram to reveal QR containing the private key (It is also printed as plain text).
You can use a wallet app (We prefer Mycelium) to scan the code and get the funds.
The entire process is explained in a booklet that comes along with the package.
I Redeemed the funds, what next?
The coin is of NO practical use once the hologram is taken off and the QR is scanned. The only thing you can do with this would be to keep it as a collectors item.
Denarium maintains a database which has info about all the coins they have sold until date. You can get the details of any coin with the serial number of the coin. This is kind of bad but there is really no private that is being shared in the open.
Denarium undoubtedly produces some of the best physical coins in the market as of today, the practical use still remains in question. This issues is not only limited to them but to all physical coins in general. Denarium markets them as a “Great gift item”
The price is relatively cheap for the quality & support they provide, overall this makes it a great gift to anyone who is interested in Bitcoins or if you want to get someone interested in it.
You can buy the coins at their site – denarium.com
(First come, first serve: use code “oogaethuwo” to get a flat 10% off!)