1BTC Casascius bitcoin sells for $7100 - page 3.

coolcoinz

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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

gentlemand

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Welt Am Draht

Quote from: kingcolex on June 06, 2017, 01:46:09 PM

It is also the physical representation of Bitcoin that everyone knows, I think there are special gold and silver minted ones as well.

Yes. I have a couple of silver ones. Prettier but never latched on to by the media in the same way. As you say, this is what many people associate with Bitcoin rightly or wrongly. They were launched to increase its visibility. It certainly worked.

kingcolex

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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.

It is also the physical representation of Bitcoin that everyone knows, I think there are special gold and silver minted ones as well.

gentlemand

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Welt Am Draht

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.

odolvlobo

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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 which I dont have any issue against in which the same thing would go for if some one could have a raw gold 1btc. For me personally I dont see any prudency in buying such commodity as the case maybe where I would pay more than enough for the face value.

The metal is brass. The value is in the desire to own one of the first physical bitcoins ever made. If you aren't a collector, then there wouldn't be much value in that for you.

tittensor

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Quote from: cellard on June 06, 2017, 12:56:21 PM

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.

Good post, I like to learn about stuff like this. It shows the extra collector value of alternative mediums of storage for BTC. In this case most of the extra comes from both the artistic value of the design and the date of the coin. I wonder for how much will the original 1BTC Casascius edition will go in 2020. If there are $10,000 predictions for regular 1 BTC, these coins will go for huge values.

Well, imagine when the price of Bitcoin is $ 10,000 / BTC and compared to 2011,, 1 Casasius Bitcoin can up to 100.000$ in that time lol Roll Eyes

freedomno1

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Learning the troll avoidance button :)

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.

Not bad for an auction bid since the coins have a classical value to them
I wonder what it will be in a few more years.

cellard

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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.

Good post, I like to learn about stuff like this. It shows the extra collector value of alternative mediums of storage for BTC. In this case most of the extra comes from both the artistic value of the design and the date of the coin. I wonder for how much will the original 1BTC Casascius edition will go in 2020. If there are $10,000 predictions for regular 1 BTC, these coins will go for huge values.

pearlmen

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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.

I believe its because the type of metal is a valuable one which makes it much more valuable than its face value which I dont have any issue against in which the same thing would go for if some one could have a raw gold 1btc. For me personally I dont see any prudency in buying such commodity as the case maybe where I would pay more than enough for the face value.

bitcoinwhoswho

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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.

Topic: 1BTC Casascius bitcoin sells for $7100 - page 3. (Read 2519 times)