AMAZON COINS

Straight from Amazon's press room comes the news that Amazon has officially launched Amazon Coins, which the company excitingly claims are "a great way for customers to save money when they buy apps, games and in-app items" for Kindle Fire users. To help everyone start using Amazon Coins, Amazon has deposited 500 of them into the accounts of all existing and new Kindle Fire users in the US.

Amazon Coins were initially announced back in February, with the company saying they're primarily designed to benefit developers and consumers. "For customers, Amazon Coins is an easy way to purchase apps and in-app items on Kindle Fire, and for developers it’s another opportunity to drive traffic, downloads and increased monetization," proclaims this morning's press release.

Ecosystem-specific virtual points systems like Microsoft Points and Amazon Coins have some marginal benefits to consumers and developers, but the real winner is always going to be the issuer—Amazon isn't doing this out of the goodness of its publicly traded heart. Shortly after Amazon Coins were announced in February, The Verge put up a very cogent analysis of the good and bad points behind the system, and the folks stuck using these systems—the customers—are the ones receiving the short end of the stick.

The biggest problem is the inevitable misalignment between "coins" purchased and "coins" used. This is a problem with Microsoft Points, or indeed any points system. Want to buy an app or an in-app purchase for $1? Too bad, because right now, the smallest number of coins you can buy is 500, which will cost you $4.80. You now have $3.80 locked up in Amazon Coins, and there's no way to turn that back into real money.

Now your $3.80 is essentially "spent," and you've got a pretty heavy psychological incentive to get rid of it—you don't want to waste it, do you? As with every other points-based system, it's difficult to "zero" the account; what you want to spend your points on will rarely line up with the number of points you can acquire.

From Amazon's perspective this is fabulous. Every unused Amazon Coin in your account is a little interest-free loan you've been kind enough to extend to Amazon.

To read the complete article, see: Amazon’s new “virtual currency” of dubious benefit to customers (arstechnica.com/business/2013/05/amazons-new-virtual-currency-of-dubious-benefit-to-customers/)

Archives International Auctions, Part XV

Archives International Auctions, Part XV
June 4th, 2013
Worldwide Banknotes, Coins, Scripophily & Autographs
10:00 am Local Time (lots 1-903)
U.S. Coins, Banknotes & Security Printing Ephemera
No earlier than 5:00 pm (lots 904-1092)


Mercantile Bank of India, 1941 Issue
Rare U.S. & Worldwide Banknotes, Coins Scripophily and Security Printing Ephemera Including Additional Selections from the Hamtramck Collection, another offering from the American Bank Note Commemoratives Inventory as well as Properties of Banknotes, Coins and Scripophily from various consignors.

June 4th, 2013 in Fort Lee, New Jersey

Rare U.S. & Worldwide Banknotes, Coins,
and Security Printing Ephemera Including Additional Selections from the Hamtramck Collection; The Somerset Collection as well as distinguished
Properties of Banknotes, Coins and Scripophily from various consignors.
June 4th, 2013 at our offices in Fort Lee, New Jersey

Included will be over 1,000 lots of Rare Worldwide Banknotes,
Coins, Scripophily and security printing ephemera.
Please view our website for auction updates

ARCHIVES INTERNATIONAL AUCTIONS, LLC
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