"Mints" - Can someone explain them to me

So it seems like the cheapest way to "buy" 5 mil is to pick up like 100 mints for 1-1.5 dollars each. They are worth 5 mil easy on the forums, so why is their cost so damn low compared to the numerous 1$-1m gold sellers?

I am a noob in terms of the newer Runescape (just started back up after a VERY long hiatus). So perhaps I am missing something there.

Obvious questions about the mints are:

1) How would I sell them since I can't receive 5 mil for them due to trade restrictions? I heard something about "junk" but I don't really get it,

2) Are they really worth 5 mil each?

3) If i decide to pick up a bunch of mints, how would I trade them for the armor and weps, etc. that I want? Wouldn't it take freakin' forever to trade 22-23 mints for an armadyl godsword?

 

Ive just got back to Runescape from a longterm break, and i was wondering what these "Mints" were at first. So i checked on the Grand Exchange. It seems everyone wants them because they're new and Rocketing up in price. So, there not really 5Mill each, but everyone wants them because there going up so much. I guess people would use the Junk trade, or use a RWT method to transfer the 5Mill + Mid Price. Hope this Helped .

 

Right now the Mint prices are a gamble, but most likely their price will skyrocket.

For the mean time, they are used for "junk trading" or for duel stakes (and other similiar methods) because their G.E. value fits into the Trade Limit.

Please correct me if I'm wrong.

 

Below are a few links to the runescape forums. I did a quick search for threads on mint cakes and this is what I found. Enjoy:

http://services.runescape.com/m=forum/c=JADf-0wfoe8/forums.ws?17,18,320,60180357

http://services.runescape.com/m=forum/c=JADf-0wfoe8/forums.ws?17,18,575,60196131

http://services.runescape.com/m=forum/c=JADf-0wfoe8/forums.ws?17,18,479,59847441

 

Example that finally got me to understand:

i have a green p hat worth 260m ge. it sells for 550m on the street. If i sold for 100% cash i'd be getting ripped off, so i'd sell for 1 easter+30 mints+cash so i'd keep my 550m item value.

 

Exactly. Think of it this way, completely negate trade value for a second. It's all about street price. It's handled in a way rares are, it is valued much more than it's trade price.

However, it's street price is 5m so it can be traded/sold for things that also have a high street price. Making them popular and in many eyes "rare".

 

Yeah, all rares, or risings, are not used with their GE price. Their always traded for mints + trade price.

 

Oh now i get it by reading the posts

 

I'm just gonna say mints are confusing....I still don't get how people want junk so bad because once you have it you're stuck with it aren't you? unless you buy something more expensive o.0?