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Topic: At what price level do you start peeling rather than selling? (Read 1706 times)

legendary
Activity: 3038
Merit: 1032
RIP Mommy
Not sure how it is in other countries, but US airports (and by extension, planes & passengers thereupon) have only security theater, with 95% failure rate https://www.nbcnews.com/news/us-news/investigation-breaches-us-airports-allowed-weapons-through-n367851

Effectively anyone who wants to get a weapon in, will. Weapons are even fabricated in prisons.

So potentially 95% of passengers are packing heat? I'm surprised there aren't more fire fights with shop staff at the overpriced Pepsis on sale.

Even if your buyer did produce an assault rifle from their panties, there are still enough cameras and security around to put a halt to them after they've emptied a clip into your face. It'll be too late for you, but not for your coin.

Armed robberies usually end with the victim's compliance, no bloodshed. A pistol covered from CCTV but revealed to the law-abiding/defenseless victim, or even the 95% believable threat of having a pistol, will do.
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
Not sure how it is in other countries, but US airports (and by extension, planes & passengers thereupon) have only security theater, with 95% failure rate https://www.nbcnews.com/news/us-news/investigation-breaches-us-airports-allowed-weapons-through-n367851

Effectively anyone who wants to get a weapon in, will. Weapons are even fabricated in prisons.

So potentially 95% of passengers are packing heat? I'm surprised there aren't more fire fights with shop staff at the overpriced Pepsis on sale.

Even if your buyer did produce an assault rifle from their panties, there are still enough cameras and security around to put a halt to them after they've emptied a clip into your face. It'll be too late for you, but not for your coin.

legendary
Activity: 3038
Merit: 1032
RIP Mommy
The only point in peeling would be to liquidate your BTC holdings for cash.

Not necessarily. I might want to spend it. I might not want something physically accessible lying around. I may want it all installed in a hardware wallet.

I really couldn'tbe arsed with face to face sales and showing up with a sawn off in my panties. I like the sound of a legit auction house but a long wait could be in order indeed.


For an alternative to the sawed off shotgun idea....US seller, European buyer....both fly to Heathrow arriving around the same time.  Meet in the really fun Polish bar owned by the angry old Polish woman and do the exchange there.  You know the other guy isn't armed because you are still in the terminal of an airport.  Seller can fly with the coin in his pocket the entire trip.  Both get on return flights never leaving the terminal.

Not sure how it is in other countries, but US airports (and by extension, planes & passengers thereupon) have only security theater, with 95% failure rate https://www.nbcnews.com/news/us-news/investigation-breaches-us-airports-allowed-weapons-through-n367851

Effectively anyone who wants to get a weapon in, will. Weapons are even fabricated in prisons.
legendary
Activity: 1722
Merit: 1000
Peeling them is the last resort, but if money is needed trying to sell to another collector should be done.

If BCH makes it a little harder wait until the November fork, hope not, but then they'll hold 3 different coins.  Grin

 
legendary
Activity: 1554
Merit: 1009
I would never peel any of them to preserve history, you can always find a buyer if $$ is needed.

Tell that to the guy who had to peel a 25 because he couldn't find a buyer at any price
sr. member
Activity: 845
Merit: 267
I would never peel any of them to preserve history, you can always find a buyer if $$ is needed.
legendary
Activity: 1534
Merit: 1133
derp
Those 10s are actually closer to 12s now considering the BCC they hold...  Not to mention if forking is the new trend (already looks like we'll be forking again in ~2 months) we could see premiums rise even further.  Folks that bought 25s are most likely sitting on profits if they were to peel or resell now...

Very true, the 25s are close to 30 in FV right now between the two chains

Those BTCC 1BTC coins that originally went for 1.1btc are profitable if peeled now, too. Singles and halves no longer available on their website
legendary
Activity: 1554
Merit: 1009
Those 10s are actually closer to 12s now considering the BCC they hold...  Not to mention if forking is the new trend (already looks like we'll be forking again in ~2 months) we could see premiums rise even further.  Folks that bought 25s are most likely sitting on profits if they were to peel or resell now...

Very true, the 25s are close to 30 in FV right now between the two chains
hero member
Activity: 679
Merit: 526
I personally think the golden age for premiums on physical bitcoins is over.

Holders will keep their ask prices steady because they don't want to write up a loss, but you're fucking bananas if you think, e.g., that anyone is going to pay 16 btc for a 10 these days. Seriously, a $24,000 premium for a privately minted round? Get outta here. The only people with that amount of coin to burn are old hodlers, and they've already finished their collecting.

At least the folks who bought 0.5s/1.0s/25s paid a smallish premium. Even the 5s weren't *too* bad, although you'd be looking at a loss of at least 1 or 2 btc selling them today. Can't imagine being stuck with a bunch of 10s.

There's two schools of thought I see around here when it comes to premiums.  Please correct me if you disagree.  We have the collectors who spend $ on BTC to support their collecting habits and we have the 1btc = 1btc crowd.  There's some crossover but these are our two main groups.
 
How this affects premiums is that you have what I call $ thinkers and then BTC thinkers and they think about premiums in this sense.  I am a $ thinker because a lot of what I purchased, I purchased with $ and immediately sent the BTC to the seller.  When I look at premiums today, I see the same premiums but lower BTC.  In some cases the premium is higher and others it is lower.  A good example is an MS70 .1 Casascius I purchased for 3BTC.  I think I spent less than $1k on the bitcoin to buy it.  Would I have more money now if I kept the bitcoin?  Sure, but I wouldn't have my collection and I did buy and hold bitcoin too.  I'm sure I will get more fiat value when I sell it and in the mean time I've got the shiny. Smiley

legendary
Activity: 2590
Merit: 3015
Welt Am Draht
I personally think the golden age for premiums on physical bitcoins is over.

Holders will keep their ask prices steady because they don't want to write up a loss, but you're fucking bananas if you think, e.g., that anyone is going to pay 16 btc for a 10 these days. Seriously, a $24,000 premium for a privately minted round? Get outta here. The only people with that amount of coin to burn are old hodlers, and they've already finished their collecting.

Well, there are less than 500 10 BTC coins, but outside of the usual places interest in them doesn't seem to be heating up. Perhaps it'll be a slow burn, but equally prices may be considerably higher by then too. A couple I bought had modest premiums but I discarded them in my mind anyway.
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
I personally think the golden age for premiums on physical bitcoins is over.

Holders will keep their ask prices steady because they don't want to write up a loss, but you're fucking bananas if you think, e.g., that anyone is going to pay 16 btc for a 10 these days. Seriously, a $24,000 premium for a privately minted round? Get outta here. The only people with that amount of coin to burn are old hodlers, and they've already finished their collecting.

At least the folks who bought 0.5s/1.0s/25s paid a smallish premium. Even the 5s weren't *too* bad, although you'd be looking at a loss of at least 1 or 2 btc selling them today. Can't imagine being stuck with a bunch of 10s.

Those 10s are actually closer to 12s now considering the BCC they hold...  Not to mention if forking is the new trend (already looks like we'll be forking again in ~2 months) we could see premiums rise even further.  Folks that bought 25s are most likely sitting on profits if they were to peel or resell now...
legendary
Activity: 1554
Merit: 1009
I personally think the golden age for premiums on physical bitcoins is over.

Holders will keep their ask prices steady because they don't want to write up a loss, but you're fucking bananas if you think, e.g., that anyone is going to pay 16 btc for a 10 these days. Seriously, a $24,000 premium for a privately minted round? Get outta here. The only people with that amount of coin to burn are old hodlers, and they've already finished their collecting.

At least the folks who bought 0.5s/1.0s/25s paid a smallish premium. Even the 5s weren't *too* bad, although you'd be looking at a loss of at least 1 or 2 btc selling them today. Can't imagine being stuck with a bunch of 10s.
sr. member
Activity: 356
Merit: 335
If you don’t believe, why are you here?
What I think you'll start seeing, depending upon personal situations, is that people will begin peeling them because there will be a dwindling demand or willingness to pay any premium for them. I seriously want a MS69 Gilt 1BTC, but at 2.25-2.5BTC asking price it doesn't make economical sense. That was the going rate when BTC was $1000. A $6000 premium for any thing is pretty baller, but the seller won't take that into consideration. He won't let the gilt go for less that 2BTC. In the end, when BTC goes to $5000, $10000, $25,000 the coin just turns into a safe way to store your BTC and the premium will go to zero in relative terms.

On a totally unrelated note, please PM me if you have a MS69 Gilt 1BTC for sale Cheesy

legendary
Activity: 2590
Merit: 3015
Welt Am Draht
Dude, don’t peel them. I’ll do you the favor (for a small fee of course) and deliver them in person at ANACS. I live in Colorado Springs and its about an hour drive north for me. I just dropped one off mine last week and it’s getting graded now.

You’ll regret it in the near future if you cash them in!!!

That's a very kind offer. I'd still have to get them across the Atlantic though. May as well restore a Concorde and fly it over. Clear a highway for me.

I've no plans to sell, but the actual options for secure sales get hairier as the values rise. The idea of meeting in an airport is a valid one.


Because we're all too cheap to own 25 BTC coins?

'Cos they look like a dictator's self awarded medal? Just a personal opinion.
legendary
Activity: 1554
Merit: 1009
they sell for that much for a reason.

Because we're all too cheap to own 25 BTC coins?
hero member
Activity: 518
Merit: 501
they sell for that much for a reason.
legendary
Activity: 1554
Merit: 1009
An interesting point to note: Casascius 25's have long been selling for 26-27 btc; currently they're the only coin where the BCH is more valuable than the numismatic premium of the coin itself  Grin Roll Eyes

Blazed must be eyeing his 25 stash pret-t-t-t-t-y hard these days
newbie
Activity: 56
Merit: 0
hero member
Activity: 518
Merit: 501
I think I know a licensed auction house.

Probably schmooze them into listing some cas coins.

but it's got to be me because the ingrates and sheep forget the important details...
legendary
Activity: 3066
Merit: 1757
The only point in peeling would be to liquidate your BTC holdings for cash.

Not necessarily. I might want to spend it. I might not want something physically accessible lying around. I may want it all installed in a hardware wallet.

I really couldn'tbe arsed with face to face sales and showing up with a sawn off in my panties. I like the sound of a legit auction house but a long wait could be in order indeed.


For an alternative to the sawed off shotgun idea....US seller, European buyer....both fly to Heathrow arriving around the same time.  Meet in the really fun Polish bar owned by the angry old Polish woman and do the exchange there.  You know the other guy isn't armed because you are still in the terminal of an airport.  Seller can fly with the coin in his pocket the entire trip.  Both get on return flights never leaving the terminal.

Talk about high transaction costs Smiley

Not really.  A 10 btc CAS is worth around 13btc = 52,000.  I can fly from east coast USA to heathrow for less than 1500 in business class.  1500/52000 = 2.8%

You also get a few nice drinks from the angry Polish lady and duty free cigarettes. 
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