[CALLING Current Coin Makers] How was Casascius able to make his coins so cheap? - page 2.

wheelz1200

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Quote from: ranlo on November 29, 2016, 10:51:06 PM

On this topic, wondering who has the best prices for custom gold and silver rounds with holograms? Would love to price some out for promos.

Golds are tough but silver....silver wallets are always a good choice and also i believe f*d has some silvers for a nice price. I also think og has some nice silvers at a cheap price but without holos.

ranlo

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On this topic, wondering who has the best prices for custom gold and silver rounds with holograms? Would love to price some out for promos.

owlcatz

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Great points. Maybe some current physical coin producers can chime in? thanks!

monbux

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Quote from: OgNasty on November 29, 2016, 08:48:55 PM

Personally, I take possession of my dies after coins are produced. While I can't speak for Mike, given his stance on security, I would imagine he also took possession of his dies.

As for how he was able to sell them so cheap... The brass is only worth about $0.05, I imagine it probably cost $1 per unit for the minting fee, and at $2 he could have been doubling his money. The question you should be asking, is how are current coin producers able to get away with copying Casascius' idea and then charging a $75-$500 markup for what is essentially a knock off.

To be honest that was the point I was getting at. Any idea, anyone? Huh

OgNasty

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Personally, I take possession of my dies after coins are produced. While I can't speak for Mike, given his stance on security, I would imagine he also took possession of his dies.

As for how he was able to sell them so cheap... The brass is only worth about $0.05, I imagine it probably cost $1 per unit for the minting fee, and at $2 he could have been doubling his money (see my below post w/ link showing that his total cost could have actually been lower than $0.50 each). The question you should be asking, is how are current coin producers able to get away with copying Casascius' idea and then charging a $75-$500 markup for what is essentially a knock off.

wheelz1200

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Hmmmm what if the casascius hologram maker kept the dies.......most of them do for reorders. Has mike mentioned anything about this?

monbux

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Quote from: Zepher on November 29, 2016, 06:38:25 PM

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Quote from: monbux on November 29, 2016, 05:43:12 PM

If you take a look at his original post, he sold the 1 BTC coins for 1.25 BTC, and that extra 0.25 BTC was about $2 at time of posting... How was he able to create and sell the coins so cheap?
https://bitcointalksearch.org/topic/casascius-physical-bitcoin-in-stock-now-pic-41892

If they are the brass ones, IIRC they were made at the same place that car wash token were made... brass token coins are not expensive to produce, especially in the large amounts that were made by him.

That really is the craziest thing.. the brass ones were indeed made by a car wash token manufacturer - hence them being so cheap to produce and sell. The security of these coins is down to the holograms, as I would imagine the brass tokens would be pretty easy to replicate.

The silver coins were produced by a mint (don't know which one) and were therefore of a much better quality. Again, the security of Casascius coins is the holograms. If those were easy to counterfeit, then I imagine we would have seen some a decent amount of fakes by now. There have been instances of fake holograms, but to the trained eye, they were easy to tell apart from genuine ones. Any Casascius collector would be able to tell the difference. The manufacturer of Casascius holograms is unknown (to me anyway), and I hope it stays that way actually.

That's crazy! And yet, they are such valuable coins today. Does anyone know how much casascius originally sold the coins produced by a mint for?
It's just that the premiums coins sell for nowadays cost so much more than what Mike was selling them for.

Zepher

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Quote from: monbux on November 29, 2016, 05:43:12 PM

If you take a look at his original post, he sold the 1 BTC coins for 1.25 BTC, and that extra 0.25 BTC was about $2 at time of posting... How was he able to create and sell the coins so cheap?
https://bitcointalksearch.org/topic/casascius-physical-bitcoin-in-stock-now-pic-41892

If they are the brass ones, IIRC they were made at the same place that car wash token were made... brass token coins are not expensive to produce, especially in the large amounts that were made by him.

That really is the craziest thing.. the brass ones were indeed made by a car wash token manufacturer - hence them being so cheap to produce and sell. The security of these coins is down to the holograms, as I would imagine the brass tokens would be pretty easy to replicate.

The silver coins were produced by a mint (don't know which one) and were therefore of a much better quality. Again, the security of Casascius coins is the holograms. If those were easy to counterfeit, then I imagine we would have seen some a decent amount of fakes by now. There have been instances of fake holograms, but to the trained eye, they were easy to tell apart from genuine ones. Any Casascius collector would be able to tell the difference. The manufacturer of Casascius holograms is unknown (to me anyway), and I hope it stays that way actually.

monbux

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If you take a look at his original post, he sold the 1 BTC coins for 1.25 BTC, and that extra 0.25 BTC was about $2 at time of posting... How was he able to create and sell the coins so cheap?
https://bitcointalksearch.org/topic/casascius-physical-bitcoin-in-stock-now-pic-41892

Topic: [CALLING Current Coin Makers] How was Casascius able to make his coins so cheap? - page 2. (Read 1000 times)