Asteroid 16 Psyche
jayPem
Posts: 4,081 ✭✭✭✭✭
NASA plans to visit 16 Psyche, a 140 mile wide asteroid orbiting between Mars and Jupiter sometime in 2029.
The metallic rock is said to be made up of iron, nickel and gold, and worth an estimated $10,000 quadrillion...
So, the question is, when shall we see the first coins minted from asteroid gold??
5
Comments
I would buy one of those in a heartbeat. Assuming the price was not astronomical 😅
Someone needs to watch the movie "Don't look up". Art imitates life. Peace Roy
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken oih82w8, DCW
Gold values will plummet…
Great movie!
Asteroid mining is a sci/fi staple.
In the future we won't be worried about asteroids hitting our planet, we'll be carving up any rock that gets near us 😅
We humans haven’t been out of low-earth orbit since the 1970s. Most planetary and lunar probes fail. Visiting an asteroid and recovering anything but a trivial sample is beyond our foreseeable capabilities, even if done purely robotically.
Yeah, and let's not forget the gene mods required to allow humans to thrive in low g.
Generations away.
But lately it feels like half the cars on the streets of San Francisco have no humans on board at all... sureal and creepy to drive side by side with an empty car.
We could be there sooner than you think...
As soon as a prospecting company can mine them and get them to Earth. They will need a space barge - so much PM there. What will be the effect on metals prices - I would say free fall - falling like a rock. $20 DE at 1969 prices? Mars wb a good place for ship building. So company based there get to belt faster. Then mint gold coins. Coin prices will level out from the high US prices to a consolidated world basis. Then a consolidated Solar System basis. Probably self grading AI holders you could buy cheap. Holder / sticker game bye bye. Who’s to say AI crew / robots could not mine all that.
Who knows - As far as humans in low G take a look at the show The Expanse. There are 4 factions The Inner Planets, Mars, OPA (Outer Planets Association - moons of outer planets), Belters. Humans adapted to low G (Belters & OPA) could not go to Earth (gravity). Martians had a tough time adapting.
“We were able to visit the asteroid but didn’t bring anything back so…. No questions please.”
BHNC #248 … 130 and counting.
The Apollo program required 2.5% of the nation's GDP for more than a decade. The net result was 842 pounds of moon rocks. Even if it was pure gold it would only be worth $23 million. The moon is MUCH closer than this asteroid. 16 Psyche is 220 million miles from us. The moon is (only) 239,000 miles away. 19 Psyche is almost 1000 times more distant. We're still developing ways to bring back a few ounces of dirt from mars.
It currently costs $10,000/kg to get stuff on a one-way trip into low earth orbit which is only 100 miles over our heads. I don't see any way mineral extraction from this asteroid will ever be economically feasible - certainly not in our lifetimes. Not by a mile.
Besides, if you bring back large enough quantities to fund the endeavor, you crash the price, negating your entire scheme.
Well there’s already coins made from meteorites, so why not?
http://www.space-coins.com/meteorite-coins/index.html
Mr_Spud
The key to successful asteroid mining is simple.
You just need a Horta.
Not economically feasible with existing technology. Certainly cost prohibitive at this time. But with that much gold , platinum etc there are no limits what people will do go get it. AKA the Netflix show Outer Banks. This is a failed planetary core with all kinds of goodies. Perhaps a base on 16 Pysche itself or Ceres would be a good plan. Then a mint make AGE with the 16 P mintmark. Imagine your case at a show filled w rolls of them / Blazing Super Cartwheel Luster.
Giant habitats orbiting Jupiter will eat asteroids like these for breakfast...
Saturn's rings will have to be designated as a protected historical landmark in order to keep them from being consumed.
Eventually, our entire galaxy will be stripped of all available material.
But by then there will be more black holes than stars.
The price of PM's will have plummeted countless times, but ultimately they will spike upwards again. The Gold coins minted from 16 Psyche, millions of years earlier, will set new auction records for most expensive coin ever..💥
The metallic rock is said to be made up of iron, nickel and gold, and worth an estimated $10,000 quadrillion...
except it's not. If you were able to get that thing on Earth, the underlying metals would be worth pennies a pound due to how common they would become.
This issue (retrieving gold from asteroids) is an interesting topic for speculation. However, it is not feasible now or in the foreseeable future. Earthly gold will remain a high value PM and monetary exchange medium. Relax.... Cheers, RickO
2067.
It could happen sooner than later if they send another probe to smash into the rock and alter its trajectory towards Earth
Custom album maker and numismatic photographer.
Need a personalized album made? Design it on the website below and I'll build it for you.
https://www.donahuenumismatics.com/.
Great movie filmed in my boston
.
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
Asteroid mining is, essentially, a "price cap" on precious metals - once the value of a precious metal exceeds the cost of mining it from asteroids, then asteroid mining will start to take place; if the price subsequently drops, then the asteroid mining stops until the price goes back up again.
There are other price caps in the market, some of which are more reasonable than others. Most notable is extracting gold from seawater. There's enough gold in seawater to give everyone on Earth 81 ounces each. It's estimated at current tech levels that commercial-scale gold extraction would cost about $20,000 per ounce (and would be much cheaper than asteroid mining for gold, at current tech levels). If/when gold reaches $20,000/oz, then people all over the world can start extracting all that seawater gold; if the gold price then drops again, the extractors get switched off. But until that price cap is reached, extracting gold from seawater will remain uneconomical. So it is with asteroid mining, too. And unless asteroid mining can get significantly cheaper, it will remain a poor option, for supplying Earth with gold at any rate.
Of course, asteroid mining, when it happens, will not for the most part be for the benefit of the people on Earth, being primarily to supply resources for space-borne projects (like for building space stations and starships), rather than for shipping back to Earth. Of course, the "shipping it back to Earth" part is what the media tend to focus on.
Roman emperor Marcus Aurelius, "Meditations"
Apparently I have been awarded one DPOTD.
The market would be controlled like diamonds to keep prices inflated.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
One word. Radioactive
Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM