Looks like there’s a lot of speculators buying up the coins. For their sake, let’s all hope they don’t undercut each other and crash the prices once the new legendaries are revealed.
Keep in mind that you also get a bunch for doing the Mystic Forger Daily when that is available, so the actual number is higher than the 20 you suggest.
I would assume the reason to why they lowered the supply was that it was way too easy/cheap to get the coins, which were supposed to be part of expensive/hard to get recipes.
I remember near launch when they were 15 silver each. Ahhhhh the good old days for us sellers. Then the crash down to 1 silver plus, so that I stopped selling and started hoarding. Imo, supply was too high before. It was way above demand.
intensive chestfarm which gives ton of obsidian shards which are used for making t6 mat
Obsidian Shards are used for making T6 mats? Like… though the clover recipe? Are people actually doing this?
If you are sitting on tons of karma obsi shards a cheap. Ectos you can have plenty by running the world boss train. You drown in skill points through scrolls. Which leaves the mystic coins which are tradeable. Depending on your stock it may not be the worst decision to create T6 mats that way.
SW chest farm has been known for quite some time though. You’d think that it would be a gradual increase rather than a sharp one which started last Friday evening.
intensive chestfarm which gives ton of obsidian shards which are used for making t6 mat
Obsidian Shards are used for making T6 mats? Like… though the clover recipe? Are people actually doing this?
Well the hardest part for poor people to get a legendary after getting the precursor is the gift of fortune aka 2000 t6 mat which is hard to obtain if you try to drop them with Diminishing return poping. I have 1500+ obsi shard, 500k karma and i’m not a big farmer they are really easy to get in the chest farm and ectos you need only 250 for a legendary you get ~10 for one good vinewrath and also with the rare in the bags of chestfarms. But i stopped converting them to t6 not because of the coins price but because i’ve ended with ~300 clover but if the price keep rising that will be another good reason to stop converting
ps: for 10 ecto you can have 30+ t6 if you are lucky
intensive chestfarm which gives ton of obsidian shards which are used for making t6 mat
Obsidian Shards are used for making T6 mats? Like… though the clover recipe? Are people actually doing this?
In average I get around 20-30% of profit if I convert 400+ ectos into T6 mats. More you convert – less random the convert becomes and in average it is profitable, yes. Or it’s just me bein lucky last 10000+ converts, who knows…
Also mass-converts are simple to achieve now due to excessive obsi drop in SW and can now be done much more frequently than before. In SW you basically get all you need – skillpoints from EXP/bags, obsis from chests, ectos from yellow gear. Just add some coins and there you go.
Keep in mind that you also get a bunch for doing the Mystic Forger Daily when that is available, so the actual number is higher than the 20 you suggest.
I would assume the reason to why they lowered the supply was that it was way too easy/cheap to get the coins, which were supposed to be part of expensive/hard to get recipes.
I’ve only ever gotten one out of doing the mystic forger daily.
Another reason it’s less of an issue than reducing the number of laurels, for example, or karma, is that mystic coins are a tradable commodity. They’re not account bound.
“Be angry about legendary weapons, sure, but what about the recent drought of content?”
-Mike O’Brien
Because we can’t be angry about both?
intensive chestfarm which gives ton of obsidian shards which are used for making t6 mat
Obsidian Shards are used for making T6 mats? Like… though the clover recipe? Are people actually doing this?
In average I get around 20-30% of profit if I convert 400+ ectos into T6 mats.
I gather you are ignoring the potential cost/value of Obsidian when you calculate that profit (which makes sense if you farm in silverwastes every day). Are you factoring in the potential value of the required skill points? Those are worth 20-80s without much effort and you need 0.6 SP/clover, which cuts the profit by at least 10-40s. 30% profit on ectos selling at 30-35s is less than 11s.
tl;dr isn’t it more economical to upgrade tiny fangs to small ones (or green wood planks to soft planks) and delete any obsidian? (obviously, unless you need mystic clover for a legendary)
John Smith: “you should kill monsters, because killing monsters is awesome.”
I gather you are ignoring the potential cost/value of Obsidian when you calculate that profit (which makes sense if you farm in silverwastes every day). Are you factoring in the potential value of the required skill points? Those are worth 20-80s without much effort and you need 0.6 SP/clover, which cuts the profit by at least 10-40s. 30% profit on ectos selling at 30-35s is less than 11s.
I am not ignoring that, of course I have considered cost of obsidians and skillpoints (less than you state though, your numbers seems to be unreasonable). Also you are forgetting that those are simply a side-effect of farming SW – you also loot a lot of other mats and stuff from there, so only a small portion of time can be considered as “wasted” on obsi/sp farming which means that their “time-cost” is minimal. Time is also a resource which should be considered and I haven’t forgotten it.
I have done a lot of calculations a few months ago, but with recent rise of mystic coins prices and drop of T6 mats cost those aren’t really useful anymore. And, to be honest I also stopped farming SW massively since I have achieved what I wanted
I believe that converting mats right now isn’t that profitable anymore, but can still be considered as an option. Also imo T6 mats cost will make a rocket-jump in time, so this can be a good investment.
This is why I grabbed a bunch over a year ago. With investments, you can’t wait until news breaks. Gotta take the chance and dive in super early.
Pro Tip – Platinum Ore price will triple in value in the next few months.
#spoiler
You mean 500 jewel crafting?
I think iron spike during lion’s arch invasion. It only last a few days since people can mine them. So need to sell fast before it cool off.
For 500 jewel crafting, I think silver and gold have more upside. But I think all mineral have a cap since it’s something you can farm.
I think because all the ore is farmable, dust, which isnt farmable, has a higher potential. Especially t4 dust, as t4 always seems to be a bottleneck and t5, as you need 5 t5 dust to transmogrify 2 crystals into orbs.
Tin Foil [HATS]-Hardcore BLTC-PvP Guild
Bloin – Running around, tagging Keeps, getting whack on Scoobie Snacks.
I think because all the ore is farmable, dust, which isnt farmable, has a higher potential. Especially t4 dust, as t4 always seems to be a bottleneck and t5, as you need 5 t5 dust to transmogrify 2 crystals into orbs.
i got a bunch of t5 dust just because maybe for some reason everyone stop forging precursor and everyone start promoting t5 material to t6 for gift of fortune.
But quite honestly I hate dealing with penny items. They stock up inventory space. And you are forced to use the TP as storage and if you list your item high, those 5% listing fee is expensive.
This is why I grabbed a bunch over a year ago. With investments, you can’t wait until news breaks. Gotta take the chance and dive in super early.
Pro Tip – Platinum Ore price will triple in value in the next few months.
#spoiler
You mean 500 jewel crafting?
I think iron spike during lion’s arch invasion. It only last a few days since people can mine them. So need to sell fast before it cool off.
For 500 jewel crafting, I think silver and gold have more upside. But I think all mineral have a cap since it’s something you can farm.
I think because all the ore is farmable, dust, which isnt farmable, has a higher potential. Especially t4 dust, as t4 always seems to be a bottleneck and t5, as you need 5 t5 dust to transmogrify 2 crystals into orbs.
Dust is quite farmable, just not quite as obviously as ore. t6 is obviously a little tougher than the rest, but there is the ecto converstion. Whether people know the spots and will go out in quantity to provide the supply is another matter. There seems to be a general consensus that you can’t farm anything in this game and that you should just dungeon for coin —> TP buy.
im glad there are other people waiting for 500 jewelcrafting, but i think penguin is referring to the inevitable need for ingots for the gift of metal which requires a stack of both plat ingots and darksteel ingots.
Habitual Warrior-Ranger
Gates Of Madness
Jewelcrafting to 500!
Mystic coins are an interesting currency that anet basically abandoned at launch.
I’m sure the idea was to give players something valuable just for logging in every day. But they gave up on the idea for whatever reason, going so far as to create laurels, which are the same thing but account bound.
If mystic coins have no non-obsolete uses, and anet isnt planning to use them in the future, then they probably should be nerfed.
im glad there are other people waiting for 500 jewelcrafting, but i think penguin is referring to the inevitable need for ingots for the gift of metal which requires a stack of both plat ingots and darksteel ingots.
ya and ascended weapon and armor too.
But I can already make 10 gold an hour just mining platinum with sprocket pick. I’m sure everyone will be mining when they can get like 20+ gold per hour.
Now the “crisis” seems to be even more insane. With mystic coins now over 14 silver, the law of supply and demand is really beginning to take its toll.
Yeah it’s great. For a very long time there was a huge glut of coins. Supply was way above demand and they were selling for less than a silver each. Since they are used to make exotics with unique skins, it didn’t make sense for them to be worth a few coppers.
Be careful what you ask for
ANet may give it to you.
Now the “crisis” seems to be even more insane. With mystic coins now over 14 silver, the law of supply and demand is really beginning to take its toll.
It’s not a crisis until or unless we have no way of obtaining the coins. Right now, plenty roll in. It’s just the demand has increased (since people can afford more of the things you can make with coins), while the supply has remained steady.
Thus, the current market is great for those who don’t care about using mystic coins — a boon to them and not a crisis.
John Smith: “you should kill monsters, because killing monsters is awesome.”
also, remember, many players bought alternate accounts during the $10 sale, and turning them into passive crafting mats feeder. some bought more than 10 accounts just for that. those account pay for themselves after 2 months.
Cutie Phantasmer/Farinas [HAX] – CD Casual
Archeage = Farmville with PK
I’m sitting on nearly 500 of them. The recipes that involve Mystic Coins usually require huge chunks of T6 materials, so they’re not worth going after.
Many alts; handle it!
“I’m finding companies should sell access to forums,
it seems many like them better than the games they comment on.” -Horrorscope.7632
Long before daily rewards i remember coins dropping only from map completion and bl chests. The price was around 20 silvers.
Mystic Coins were never traded for 20 silvers. It went shortly up to 15s in Jan 2013 for a couple of weeks but thats it.
Regardless, Oxidia’s point remains: mystic coins are only just now becoming as expensive as they used to be.
If by “just now” you mean 3 month ago, then yes.
No, I meant “just now” as in this week.
Peak sell offers for Mystic Coins (according to spidy) was 15.24s on 7 Jan 2013.
3 months ago, the peak (according to spidy) was 14.35s.
This week, the price is reaching 14.87s.
So according to the data I’m looking at, Mystic Coin prices are still below their peak two and half years ago.
Plus, one could argue that in Jan 2013, 15 silver was hard for most players to come by (I remember saving up for Master Trait Books for my alts) while in Aug 2015, 15s is pocket change for most players. In most cases, the cost of Mystic Coins is currently a relatively small fraction of the forging cost of any particular weapon. In other words, while the current price of mystic coins is just under its historical peak, they are “less expensive” to acquire in terms of opportunity costs.
However, that’s a different discussion. My main point is that — according to gw2spidy (the source used by the OP) — the actual price of the coins remains below its peak (at least, while I was typing this).
John Smith: “you should kill monsters, because killing monsters is awesome.”
Long before daily rewards i remember coins dropping only from map completion and bl chests. The price was around 20 silvers.
Mystic Coins were never traded for 20 silvers. It went shortly up to 15s in Jan 2013 for a couple of weeks but thats it.
Regardless, Oxidia’s point remains: mystic coins are only just now becoming as expensive as they used to be.
If by “just now” you mean 3 month ago, then yes.
No, I meant “just now” as in this week.
Peak sell offers for Mystic Coins (according to spidy) was 15.24s on 7 Jan 2013.
3 months ago, the peak (according to spidy) was 14.35s.
This week, the price is reaching 14.87s.
So according to the data I’m looking at, Mystic Coin prices are still below their peak two and half years ago.
Plus, one could argue that in Jan 2013, 15 silver was hard for most players to come by (I remember saving up for Master Trait Books for my alts) while in Aug 2015, 15s is pocket change for most players. In most cases, the cost of Mystic Coins is currently a relatively small fraction of the forging cost of any particular weapon. In other words, while the current price of mystic coins is just under its historical peak, they are “less expensive” to acquire in terms of opportunity costs.
However, that’s a different discussion. My main point is that — according to gw2spidy (the source used by the OP) — the actual price of the coins remains below its peak (at least, while I was typing this).
17.83s 3 months ago.
Attachments:
Tin Foil [HATS]-Hardcore BLTC-PvP Guild
Bloin – Running around, tagging Keeps, getting whack on Scoobie Snacks.
Long before daily rewards i remember coins dropping only from map completion and bl chests. The price was around 20 silvers.
Mystic Coins were never traded for 20 silvers. It went shortly up to 15s in Jan 2013 for a couple of weeks but thats it.
Regardless, Oxidia’s point remains: mystic coins are only just now becoming as expensive as they used to be.
If by “just now” you mean 3 month ago, then yes.
No, I meant “just now” as in this week.
Peak sell offers for Mystic Coins (according to spidy) was 15.24s on 7 Jan 2013.
3 months ago, the peak (according to spidy) was 14.35s.
This week, the price is reaching 14.87s.
So according to the data I’m looking at, Mystic Coin prices are still below their peak two and half years ago.
Plus, one could argue that in Jan 2013, 15 silver was hard for most players to come by (I remember saving up for Master Trait Books for my alts) while in Aug 2015, 15s is pocket change for most players. In most cases, the cost of Mystic Coins is currently a relatively small fraction of the forging cost of any particular weapon. In other words, while the current price of mystic coins is just under its historical peak, they are “less expensive” to acquire in terms of opportunity costs.
However, that’s a different discussion. My main point is that — according to gw2spidy (the source used by the OP) — the actual price of the coins remains below its peak (at least, while I was typing this).
17.83s 3 months ago.
Spidy — which was the OP’s source — doesn’t include that price. The screenshot source is gw2tp.com and doesn’t include the 2013 prices, so there’s no way to compare.
Accordingly, I stand by my comment: the OP (and the late respondent) were making a claim about high prices based on data that showed something different.
John Smith: “you should kill monsters, because killing monsters is awesome.”
I don’t know how often Spidy updates, but I’d swear I see coins above 15 silver a couple of days ago. Could have just been a blip I suppose.
I flushed the toilet 22 times last night and only got clovers twice.
Spidy doesn’t update as often as gw2tp and it’s had some hiccups. So what you see on the TP, what gw2tp reports, and what spidy reports can be different. The main thing that spidy has is data from 2013, which I don’t have access to from other sources.
So, spidy might not be the best source for certain things, but it’s the only one that allows for an apples:apples comparison of historical prices. It was also the original source for the claim that there is a crisis, so it’s a good choice in terms of showing evidence to the contrary.
John Smith: “you should kill monsters, because killing monsters is awesome.”
I don’t know how often Spidy updates, but I’d swear I see coins above 15 silver a couple of days ago. Could have just been a blip I suppose.
I flushed the toilet 22 times last night and only got clovers twice.
Spidy doesn’t update as often as gw2tp and it’s had some hiccups. So what you see on the TP, what gw2tp reports, and what spidy reports can be different. The main thing that spidy has is data from 2013, which I don’t have access to from other sources.
So, spidy might not be the best source for certain things, but it’s the only one that allows for an apples:apples comparison of historical prices. It was also the original source for the claim that there is a crisis, so it’s a good choice in terms of showing evidence to the contrary.
gw2tp has full history since aug 26th 2012 but it only loads the graph for the last 6 months by default.
If you want to see all data, click on “Full History” on top of the price chart.
The screenshot i posted earlier, had the full history loaded but i guess you didnt care to check.
Tin Foil [HATS]-Hardcore BLTC-PvP Guild
Bloin – Running around, tagging Keeps, getting whack on Scoobie Snacks.
And in all cases it’s because supply dwindled. Why did mystic coins become popular when they did is the question. I’m not familiar with the common uses of a mystic coin.
