Good perspectives and comments, thanks for indulging the question by someone (me) who's new to this.
@justbtcme, Mike's "full list" (https://www.casascius.com/fulllist.txt) indicates it might be as low as 1,000, that is if he was only producing 1btc coins (not .5, etc) in 2011. The list would help get us part way to understanding exactly how many 1 BTC 2011 Series 2 coins are out there. It was this period where he didn't categorize the first three digits of the blockchain (am I using that term correctly?). If we copied this list into excel we could filter down what we know aren't the 2011 Series 2 coins to arrive at a gross number (active + inactive).
Don't get me wrong, I think the error coins are very cool and this historical value (to me) far exceeds the physical error. I would have loved to be at some Occupy event getting handed the first physical, loaded series of bitcoins. And I know I likely would have tossed it in a jar and forgot about it...but what a story to share if you had one of those, if it was handed to you for free.
Topic: 2011 Casascius 1 BTC Holo Error - page 2. (Read 3195 times)
I'll resurrect this one for a question.
How are these going for so much when there's 11,000 of them in existence?
That's hardly rare considering how many coins Casascius created.
How are these going for so much when there's 11,000 of them in existence?
That's hardly rare considering how many coins Casascius created.
How many do you own? That should tell you how rare it is.
No, that tells me how interested I was, personally, in BTC or Casascius back in 2011. It means nothing about the value the coin commands to a collector.
The interesting thing, I think, is that despite the "coolness" of the error, these are one of the most common coins minted by Mike. In terms of rarity, 2011 series 2 coins should be more valuable.
It's also interesting that when I ask these questions about valuation no one seems to be able to offer a reasoned or structured answer...perhaps this indicates a valuation problem (as people try to auction these off for up to 7BTC each?)
Well, the very first physical Bitcoin was the error coin. Thus, people who want to own the very first physical Bitcoin want the error coin. That adds to the value. There is also only one error Casascius hologram. Thus, people who want to own an error coin want the error coin.
You are only looking at the supply to suggest value. You need to look at demand as well, since where supply meets demand is what sets the price. Error coin is much higher demand than 2011 series 2 coins for the reasons listed above, therefore it's value is higher despite it's supply.
It will be interesting to see if the price will shift towards the more uncommon coins once the collectors do more research on these casascius coins and realize the rarity of other coins.
I think the hype of the first halo error coins will die down along with the prices and collectors will want to pay a higher premium for the coins that they rarely see on the market such as the 10 BTC Gold/Silver, 25 BTC gold-plated, 5 BTC nickel S1 + S2 .
Supply and demand will play a role but I think the rarity factor will hold more weight for coin collectors.
I'll resurrect this one for a question.
How are these going for so much when there's 11,000 of them in existence?
That's hardly rare considering how many coins Casascius created.
How are these going for so much when there's 11,000 of them in existence?
That's hardly rare considering how many coins Casascius created.
How many do you own? That should tell you how rare it is.
No, that tells me how interested I was, personally, in BTC or Casascius back in 2011. It means nothing about the value the coin commands to a collector.
The interesting thing, I think, is that despite the "coolness" of the error, these are one of the most common coins minted by Mike. In terms of rarity, 2011 series 2 coins should be more valuable.
It's also interesting that when I ask these questions about valuation no one seems to be able to offer a reasoned or structured answer...perhaps this indicates a valuation problem (as people try to auction these off for up to 7BTC each?)
Well, the very first physical Bitcoin was the error coin. Thus, people who want to own the very first physical Bitcoin want the error coin. That adds to the value. There is also only one error Casascius hologram. Thus, people who want to own an error coin want the error coin.
You are only looking at the supply to suggest value. You need to look at demand as well, since where supply meets demand is what sets the price. Error coin is much higher demand than 2011 series 2 coins for the reasons listed above, therefore it's value is higher despite it's supply.
I'll resurrect this one for a question.
How are these going for so much when there's 11,000 of them in existence?
That's hardly rare considering how many coins Casascius created.
How are these going for so much when there's 11,000 of them in existence?
That's hardly rare considering how many coins Casascius created.
How many do you own? That should tell you how rare it is.
No, that tells me how interested I was, personally, in BTC or Casascius back in 2011. It means nothing about the value the coin commands to a collector.
The interesting thing, I think, is that despite the "coolness" of the error, these are one of the most common coins minted by Mike. In terms of rarity, 2011 series 2 coins should be more valuable.
It's also interesting that when I ask these questions about valuation no one seems to be able to offer a reasoned or structured answer...perhaps this indicates a valuation problem (as people try to auction these off for up to 7BTC each?)
When Mike first made these coins they were intended as a way to introduce people to bitcoins. As such, many were given out for free or were bought by people who gave them away to family and friends or even complete strangers.
The reason IMO that the 1 BTC 2011 S1 coins are so valuable is because we really don't know how many still exist or were toss away when these things were worth very little, forever gone. The ones that are still around are probably in pretty bad shape and very few if any are in MINT state (MS-68)
I recall a Occupy Wall Street event where some anonymous person were handing out free casascius coins or placing them in the donation boxes. Many were also given away at various bitcoin conferences.
Although I do agree that the 2011 S2 NON-HALO ERROR are MUCH MUCH more rare few people seem to notice this fact.
Can someone confirm this ? I would like to know the exact number produce, my guess is a few hundred at most. They were only produce for a few weeks until the new 2012 coins came out.
I'll resurrect this one for a question.
How are these going for so much when there's 11,000 of them in existence?
That's hardly rare considering how many coins Casascius created.
How are these going for so much when there's 11,000 of them in existence?
That's hardly rare considering how many coins Casascius created.
How many do you own? That should tell you how rare it is.
No, that tells me how interested I was, personally, in BTC or Casascius back in 2011. It means nothing about the value the coin commands to a collector.
The interesting thing, I think, is that despite the "coolness" of the error, these are one of the most common coins minted by Mike. In terms of rarity, 2011 series 2 coins should be more valuable.
It's also interesting that when I ask these questions about valuation no one seems to be able to offer a reasoned or structured answer...perhaps this indicates a valuation problem (as people try to auction these off for up to 7BTC each?)
I'll resurrect this one for a question.
How are these going for so much when there's 11,000 of them in existence?
That's hardly rare considering how many coins Casascius created.
How are these going for so much when there's 11,000 of them in existence?
That's hardly rare considering how many coins Casascius created.
How many do you own? That should tell you how rare it is.
I'll resurrect this one for a question.
How are these going for so much when there's 11,000 of them in existence?
That's hardly rare considering how many coins Casascius created.
How are these going for so much when there's 11,000 of them in existence?
That's hardly rare considering how many coins Casascius created.
So far you have 13 posts, 99% moaning about coin prices -
https://bitcointalksearch.org/user/possum577-351490
I'll resurrect this one for a question.
How are these going for so much when there's 11,000 of them in existence?
That's hardly rare considering how many coins Casascius created.
How are these going for so much when there's 11,000 of them in existence?
That's hardly rare considering how many coins Casascius created.
bump!
Clean and not graded 3-4BTC.. If you get a really nice grade like MS-66 - MS67 they can go upwards of 7BTC
Exactly, many such 3-4 btc sales happened when the bitcoin value hovered at much higher prices than where it is now.
Clean and not graded 3-4BTC.. If you get a really nice grade like MS-66 - MS67 they can go upwards of 7BTC
i think 5 btc is still alittle to high, i think they been going for around 3btc maybe more if graded high
I don't agree. The 2013s are going for 2.5-3. While it is true that graded coins are getting a higher premium, this coin is in phenomenal condition. It's been in a case ever since being received.
If I don't manage to sell it I will send it in for grading myself.
there's no sex in it. this coin is weak.
No sex?!? I have no idea what you are talking about.
maybe hes some pervert and he like to use coin for sexual purpose. Who knows. I saw at discovery a show about a guy who kiss the bikes... and slept with them
so who knows
i think 5 btc is still alittle to high, i think they been going for around 3btc maybe more if graded high
Price lowered. BUMP
there's no sex in it. this coin is weak.
No sex?!? I have no idea what you are talking about.
there's no sex in it. this coin is weak.
Lovely piece of work ,i am very interested in this, however i can only offer 3-4 btc. If you are interested please let me know..
I have PMed you.
bump
Why do you ask 6-7 BTC for it when it says that it is 1 BTC? I am a bit confused.
Some Casascius coins are regarded collector's items. In particular, the 2011 Series 1 coins show a mispelling in the hologram (Casacius instead of CasaScius) and as a result production was stopped in favor of a Series 2 coin with the hologram spelled correctly.
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