Topic: [GONE] for a song again! - Casascius 1BTC & 0.5 BTC on Scarce City (Read 432 times)

I think it could be an issue of timing. I sell occasionally on Ebay and I find it hard to sell anything when BTC is low or FUD is high. I quit listing anything during these times. When BTC is running I sell everything I post. The war and stock market dips have tightened the market's sphincter, although it looks positive in the near future. 

Exposure really could be better... simply by a browser which auctions are on or so (I believe they promote their articles via their Telegram channel but then you'll get loads of spam, too... and I want my cell phone quiet).

But the premiums are definitively there if you look at such auctions from last Nov. (at times of ATH) https://scarce.city/auctions/kialara-2015-1BTC
This one had an exceptional high price (but was for a good cause) https://scarce.city/auctions/kialara-for-a-cause
=> this might have to do a thing or two with the general 'hype' around ATHs... but 0,37 or 0,13 and even 0,06BTC are prices the actual owners never get back in a resell...

That it's only a 10% premium for a loaded (& graded 'standard') Casascius makes me even want it more but I'm happy with the redeemed ones I have => reasons have been set forth by Markzellers

edit: 4 more stunning high prices

Thanks for your responses, both.

It's all a learning curve.

Honest feedback here...   I am seriously looking for some collectible coins, but likely going after redeemed ones for the following reasons:

#1  Taxes - I do not have cash (I have inflation and you are losing money in cash) to buy a coin outright.  This means I would have to liquidate BTC to buy BTC and incur a sizeable tax hit.  I am new to the forum, but bought back in 2015, so the coins I have would have a significant taxable increase.

#2 Appreciation - I think BTC will increase a bit more than the margin on the coins. I think 10% is very low premium and should have fetched more.  However, the BTC value will increase dramatically, so, I think investing the 4k (equivalent of the BTC premium) will likely return more than the 10% premium going up a little, including it being based on BTC (hopefully I am explaining my thoughts well). I could buy a redeemed Cas coin for say $500 and invest the other $3,500 in BTC.

#3 Liability - These things are awesome!  However, where do you store them?  For now, a safe at home is fine; however as BTC goes up in value, what happens when it hits 500k?  I hate banks, so would never think of a safety deposit.  I get to travel internationally and there is no way I would walk through customs with one, I would be scared to carry it around.


Again, I absolutely love these coins and wish I could turn back the clock.  However, if I did, I would likely be selling them now and moving towards good old fashion BTC and the benefits it offers.

I welcome other viewpoints, just sharing mine.

Thanks!
Mark

Agree, scarce has been disappointing for exposure and premiums. On the flip side, if you are a buyer you can snag some amazing items for a great deal!

They went for 1.1 and 0.55 respectively - 10% over face.

The primary complaint here last time was low quality and ungraded. I also thought the coin being located outside the US might put people off. Fixed all three and put in the best coin I've got (the 1) and they still barely covered the costs.

I think I need to go back to the drawing board and rethink this completely, maybe find me a salesman who will go out and find me buyers for a commission. I don't know but this doesn't work. Any ideas?

I know this is often the case although I have to admit I don't understand the bidding psychology that makes it so - especially where there are anti-sniping measures in place to prevent final-second bids (as there are for scarce city auctions).


I have gotten the impression (though I can not evidence this directly) that a substantial number of bitcointalk folk are also active on Scarce City.

However, thanks for raising this. Although I'm not an authority on how Scarce City works, it may be useful to some here for me to share my understanding: From what I gather,

• it isn't necessary to register in order to place a bid - except that without, each bid requires a refundable deposit payment of 1%
• bid deposits may be made on-chain (i.e. without the need for Lightning Network)
• however, before the end of the auction, the on-chain bidding option is removed - i.e. ONLY Lightning Network bids are permitted for that crucial last 10 mins you referred to.

Hope that helps. Here's their demo on the bidding process.

All the action for good collectibles happens in the last 10 minutes of the auctions and I'm sure if the members here had accounts on the site you used it would help fetch a higher premium

With the auction less than a day away, there's a chance someone will get these graded quality coins for a great price.!

Still, as of writing, now with 24 hours to go of the auction, the current high bids on both pieces are:

Current high bid for the 1 piece: 1.05 BTC https://scarce.city/auctions/casascius-1BTC-s2
Current high bid for the 0.5 piece: 0.55 BTC https://scarce.city/auctions/casascius-.5BTC-MS64

As of writing with 36 hours to go of the auction, the current high bids on both pieces are:

Current high bid for the 1 piece: 1.05 BTC https://scarce.city/auctions/casascius-1BTC-s2
Current high bid for the 0.5 piece: 0.55 BTC https://scarce.city/auctions/casascius-.5BTC-MS64

Now with corrected listings, scarce.city have just tweeted the links https://twitter.com/scarcedotcity/status/1505914778132398080 (which I've also added to the OP). Thank you for your interest

Thanks mj for pointing that out. The photos got mixed up. The coin shortbits and grading are correct as per listing description. I'll have the photos exchanges for the correct, matching ones as soon as I can.

I wish you luck! Some of the best deals I have seen on loaded items are coming off of Scarce. Auctions in here bring higher premiums. I hope you do well on your 2x!

48 hour auctions? Really? 

It is showing 2 different coins for the 1 btc listing.
Both are MS64, not MS68 as the title of the listing states.
Also, both are 2012 not 2013 per the listing title

Current high bid for the 1 piece: 1.05 BTC https://scarce.city/auctions/casascius-1BTC-s2
Current high bid for the 0.5 piece: 0.55 BTC https://scarce.city/auctions/casascius-.5BTC-MS64

https://twitter.com/scarcedotcity/status/1505914778132398080

Both loaded, ICG-graded, the .5 @ MS64, the 1 @ MS68. Both in the US ready for easy delivery to US buyers.

Example of photos of the 1 BTC piece.




Examples of photos of the .5 BTC piece (more on the scarce city auction page):






Any queries welcome.

Have fun

Please note there were incorrect photos, incorrect information and incorrect links in the listings that have now been corrected. Thanks to minorjones for drawing my attention to that.