1BTC Casascius bitcoin sells for $7100

krogothmanhattan

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The Stone the masons rejected was the cornerstone.

Quote from: wheelz1200 on August 28, 2018, 07:52:18 AM

Quote from: WhiteRabbitWhiteCastle on August 28, 2018, 07:06:34 AM

Quote from: NUFCrichard on June 06, 2017, 02:38:15 PM

I don't get the numismatic value of the coin. I mean ok, it was an early Bitcoin, it looks nice but...
That seems like it would be worth maybe a $200 premium, but not a $5000 premium!

I think it is just a sign that early adopters have too much money now! People have lost grip of reality and think that 3.5BTC a reasonable price is for 1BTC with a few dollars worth of metal.

US Coins that have little face value have sold for millions. Your point is invalid.

Why the necro for this?

wheelz1200

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Quote from: WhiteRabbitWhiteCastle on August 28, 2018, 07:06:34 AM

Quote from: NUFCrichard on June 06, 2017, 02:38:15 PM

I don't get the numismatic value of the coin. I mean ok, it was an early Bitcoin, it looks nice but...
That seems like it would be worth maybe a $200 premium, but not a $5000 premium!

I think it is just a sign that early adopters have too much money now! People have lost grip of reality and think that 3.5BTC a reasonable price is for 1BTC with a few dollars worth of metal.

US Coins that have little face value have sold for millions. Your point is invalid.

Why the necro for this?

WhiteRabbitWhiteCastle

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Quote from: NUFCrichard on June 06, 2017, 02:38:15 PM

I don't get the numismatic value of the coin. I mean ok, it was an early Bitcoin, it looks nice but...
That seems like it would be worth maybe a $200 premium, but not a $5000 premium!

I think it is just a sign that early adopters have too much money now! People have lost grip of reality and think that 3.5BTC a reasonable price is for 1BTC with a few dollars worth of metal.

US Coins that have little face value have sold for millions. Your point is invalid.

Bit n Mortar

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Message me if interested in buying 2011 casascius physical BTC

dazedfool

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derp

If you kids thought 7100 was a lot... here's another bid up to 10K with a few hours yet to go!

http://www.ebay.com/itm/172724843860

These are hot potatoes on eBay right now

krogothmanhattan

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The Stone the masons rejected was the cornerstone.

Quote from: BearKing55 on June 09, 2017, 01:06:49 PM

Quote from: coolcoinz on June 06, 2017, 01:57:48 PM

Quote from: gentlemand on June 06, 2017, 01:25:43 PM

Quote from: pearlmen on June 06, 2017, 12:55:13 PM

I believe its because the type of metal is a valuable one which makes it much more valuable than its face value

Er, no. It was made out of brass by a car wash token company.

The value comes from the rarity, though it actually isn't that rare compared to other ones. It was the first though and many will have been abused as they were worth about $20-30 when new.

I wouldn't pay that much above the Bitcoin value for a brass coin, but on the other hand people are collecting bottle caps and other strange stuff, so who am I to judge.
I'm sure the buyer/collector is happy with it.
It's not a bad investment, because as time goes buy it gains its pure Bitcoin value and collectible value. Double win Wink

Yes
Rarity and Market and Collectible are the major factors.

BUT ALSO, collectibility on these first Casascius coins is dramatically better than most.
FIRST of a kind of money that may very well take over the world and be the future of money.

and it IS important to note these have value not dependent on the internet being available to USE - only to ultimately later redeem. IF the holder at that time so chooses.

and while others are now putting digital internet money on physical coin form. Casascius was the first to figure out how AND more importantly, I think his system was different and more anonymous than any current one is. and therefore more valuable in any local SHTF scenario.

Why does this price surprise anyone...as a stamp collector I have seen stamps go for millions of dollars based on their rarity. Not that I could afford them...one went for 9 million dollars..not counting commision. All they are made of is paper..yet the demand is there but supply is not.

dazedfool

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derp

Quote from: digicoinuser on June 09, 2017, 04:58:12 PM

Quote from: Fattcatt on June 09, 2017, 03:52:00 PM

I think ebay gets 10 percent of the sale price. Undecided

I believe it's capped at a certain amount and I haven't sold items worth enough to find out. BearKing55 can give a definitive answer there. Wink

Ebay takes 10% capped at 750usd normally, 6.15% capped at 250usd if you have an ebay "store". Stores cost 20usd/mo

Paypal takes another ~3% on top.

I have also bought and sold many cas coins on ebay over the years...

digicoinuser

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Quote from: Fattcatt on June 09, 2017, 03:52:00 PM

I think ebay gets 10 percent of the sale price. Undecided

I believe it's capped at a certain amount and I haven't sold items worth enough to find out. BearKing55 can give a definitive answer there. Wink

BearKing55

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Quote from: MRBONG411 on June 09, 2017, 01:29:34 PM

Are there any rules with ebay with selling bitcoin or bitcoin coins?

YES,
but you'll have to research that, I'm confused and they seem to change.

BITCOIN AS VIRTUAL Currency and all virtual currency; ebay RULES SAY may NOT be sold in their regular formats as auction OR fixed price listing. Must be handled in the far less popular "Classified ad" section.

YES I know, you're gonna point out that there are some bitcoin COINS listed,
This is because they are listed as "coins" or "mining contracts".

when I talked to their customer service they just plain did not know how to handle a bitcoin COIN. I chose to list under "mining contract" because mine was still loaded with a BTC value. IF it were a spent one I would choose "coins".

Fattcatt

sr. member

Activity: 1931

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I think ebay gets 10 percent of the sale price. Undecided

Fattcatt

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Activity: 1931

Merit: 354

Heya BearKing, Cheesy

I bought your Version 2 Casascius 2011 that you auctioned just before that one.

MRBONG411

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Are there any rules with ebay with selling bitcoin or bitcoin coins?

BearKing55

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Quote from: coolcoinz on June 06, 2017, 01:57:48 PM

Quote from: gentlemand on June 06, 2017, 01:25:43 PM

Quote from: pearlmen on June 06, 2017, 12:55:13 PM

I believe its because the type of metal is a valuable one which makes it much more valuable than its face value

Er, no. It was made out of brass by a car wash token company.

The value comes from the rarity, though it actually isn't that rare compared to other ones. It was the first though and many will have been abused as they were worth about $20-30 when new.

I wouldn't pay that much above the Bitcoin value for a brass coin, but on the other hand people are collecting bottle caps and other strange stuff, so who am I to judge.
I'm sure the buyer/collector is happy with it.
It's not a bad investment, because as time goes buy it gains its pure Bitcoin value and collectible value. Double win Wink

Yes
Rarity and Market and Collectible are the major factors.

BUT ALSO, collectibility on these first Casascius coins is dramatically better than most.
FIRST of a kind of money that may very well take over the world and be the future of money.

and it IS important to note these have value not dependent on the internet being available to USE - only to ultimately later redeem. IF the holder at that time so chooses.

and while others are now putting digital internet money on physical coin form. Casascius was the first to figure out how AND more importantly, I think his system was different and more anonymous than any current one is. and therefore more valuable in any local SHTF scenario.

BearKing55

newbie

Activity: 23

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Quote from: digicoinuser on June 06, 2017, 02:36:32 PM

Unfortunately people can troll ebay auctions by bidding on items and not paying for them, sellers are unable to leave negative feedback for buyers.

For the seller, I'd hope the buyer follows through but I'll be keeping an eye out to see if this is relisted.

as the seller of this coin, I'd like to add:

IF you're looking to see if it gets relisted, I hope you saved the public key code to verify a "relist".

For I do have another one to list later - same other than code.

Buyer did pay me for it just fine,

I've sold a number over the years and have never been stiffed - YET!
I have seen ones I've sold get sold again later by someone else (some times not the buyer interestingly).
while we can't leave negative feedback, ebay WILL put a black mark in their history for winning a bid and not paying. They can be suspended or barred from ebay if it repeats.

HabBear

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Activity: 1106

Merit: 638

More Casascius listings than usual on eBay as of late. To the newcomers here, get your Casascius coins while they're available - it's a buyers market! Wink

There are three listings that clearly demonstrate how varied the pricing and valuation logic can be for these eBay listings (using $2,840 btc price)

(1) 2013 1BTC brass, graded MS64 - listed at $7,995 - approx 2.81BTC (eBay listing)

(2) 2011 1BTC error, not graded, some honeycomb shown on the holo - listed at $8,500 -
approx 2.99BTC (eBay listing)

(3) 2013 1BTC gilt, not graded - listed at $9,995 - approx 3.51BTC (eBay listing)

If the gilt goes for this price, I'll consider selling mine on eBay!

TMAN

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Exchange Bitcoin quickly-https://blockchain.com.do

Quote from: ?? on ??

Quote from: Lutpin on June 06, 2017, 02:31:09 PM

Quote from: bitcoinwhoswho on June 06, 2017, 12:36:38 PM

Yesterday's transaction represents a ~250% premium over current prices.

Think that's a high premium?
https://bitcointalksearch.org/topic/interest-check-casascius-void-coin-1933379
Fun fact: It's empty.

Interesting to see non-collectors discuss collectors items/their premiums.

Got that right...... come, have a seat and enjoy.... Cheesy

Ha ha ha ha

iamTom123

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Activity: 490

Merit: 501

This can be another market for collectors which many can soon exploit. This is actually a market for people who have that vision that one day what they bought can be a lot lot more than the price they paid for an item. I am sure the buyer has made some diligence before buying that Bitcoin gold and he knows that he can take back his investment with healthy profits in years to come.

foxbat

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Merit: 250

Quote from: bitcoinwhoswho on June 06, 2017, 12:36:38 PM

http://bitcoinwhoswho.com/blog/2017/06/06/1btc-casascius-bitcoin-sells-for-usd7100/

A mint 2011 series 1 Casascius physical bitcoin sold for USD $7,100 on eBay yesterday.

First series Casascius coins are highly sought after by collectors.

During the last bitcoin price spike in 2013 (to $1250) many changed hands on eBay for about ~USD$3,000.

Yesterday's transaction represents a ~250% premium over current prices.

This really made me feel surprised, how can it be bought at such a terrible price, sounds like a gossip, originally I just thought this was a false post, But i was wrong It seems like it is so important. What a surprise.

angrybirdy

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Activity: 1022

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★Bitvest.io★ Play Plinko or Invest!

Collecting is really a complicated interest that even I don't fully understand but I just compare it to art enthusiasts. For example, the most expensive photo that was bought is a picture of a potato(it has been a year when I learned about this). So collectors are seeing and feeling good to have items they collect. Really complicated. They may be appreciating the beauty or the history of it.

Kprawn

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Quote from: ?? on ??

Quote from: digicoinuser on June 06, 2017, 05:26:21 PM

Quote from: kingcolex on June 06, 2017, 03:24:19 PM

Quote from: digicoinuser on June 06, 2017, 02:36:32 PM

Unfortunately people can troll ebay auctions by bidding on items and not paying for them, sellers are unable to leave negative feedback for buyers.

For the seller, I'd hope the buyer follows through but I'll be keeping an eye out to see if this is relisted.

My fear would be the buyer redeeming the private key and refunding through PayPal.

That's also a very valid concern. Selling a slabbed coin could possibly help in that case.

Unfortunately many slabs are easy to tamper to get out and back in.

I think the value in these coins are the "error" in the manufacturing process. If it is validated as being one of the first Casascius coins, it would

still fetch a high price, no matter if the bitcoins are spend or not. I would be the paranoid person that would constantly check the balance, if I

bought the coin back then. Still some good money to be made, if you know what you buying. Grin

Topic: 1BTC Casascius bitcoin sells for $7100 (Read 2533 times)