# Marketplace & Ownership

Numex enforces single-owner physical coin custody. A physical coin cannot be owned by two users simultaneously.

## Ownership Assignment

Ownership is assigned through two paths:

```mermaid
flowchart TD
  A["Marketplace purchase"] --> C["Ownership assigned to buyer"]
  B["Pack reveal"] --> C
  C --> D["Coin appears in buyer portfolio"]
  D --> E["Integrity proof generated"]
  E --> F["Chain anchor queued"]
```

### Marketplace Purchase

* Unowned coins display a deterministic ask price within +/-10% of estimated market value.
* Purchasing a coin assigns it to the buyer and removes it from the marketplace listing.
* The coin then appears in the buyer's portfolio with a vaulted status.

### Pack Reveal

* Pack purchase triggers the reveal engine.
* The reveal engine selects a coin from the committed pool using the deterministic commit-reveal protocol.
* The selected coin is assigned to the buyer.
* Pulled coins are marked as pulled and no longer available in future pack reveals.

## Pricing

| Context                     | Price                  | Basis                                   |
| --------------------------- | ---------------------- | --------------------------------------- |
| Marketplace ask (unowned)   | Deterministic          | Within +/-10% of estimated market value |
| Portfolio vault bid (owned) | 90% of estimated value | Vault buyback offer                     |

## Pack Availability

* Packs remain purchasable until all coins in the pack pool have been pulled.
* Pulled coins are marked as pulled in the inventory.
* Demo odds are not dynamically rewritten when coins are pulled. The stated pull probabilities remain as configured.

## Ownership Invariants

1. **Single owner:** A physical coin is owned by at most one user at any time.
2. **No double assignment:** Marketplace purchase and pack reveal both check that the coin is unowned before assignment.
3. **Pulled = unavailable:** Once a coin is pulled from a pack, it cannot be pulled again.

## Media Gating

* Generated coin product videos that have bad frames (black frames, rendering artifacts) are gated from frontend rendering.
* The media files remain in the pipeline for regeneration but are not shown to collectors.
* Coins with gated videos still display obverse/reverse images and all other metadata normally.


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