Topic: [Interest Check] 0.1 BTC Silver Casascius Coin Raffle (Read 673 times)

The one without an Otoh Collection label, Lot #36073 was consigned by someone else, hence why it doesn't have one.

I agree that the Cas 0.1 Silver is one of the most beautiful physical coins out there, if not the #1, and as someone mentioned it is also still relatively affordable being the lowest of the Casascius denominations.

This one is not, this is the one I looked at:
 https://coins.ha.com/itm/cryptocurrency/casascius-silver-proof-loaded-unredeemed-01-bitcoin-btc-2013-pr66-deep-cameo-pcgs-/a/3128-36073.s?ic16=ViewItem-BrowseTabs-Auction-Open-ThisAuction-120115

Just objectively speaking, this is not a collection of mere coins. This is an eye-watering collection of what are to be historical artifacts. Perhaps one day destined to the Smithsonian archives for some future generation of people to gawk at behind bullet proof glass. People whom do not know of the toils and the tribulations which were exalted in their creation. I am stunned that I even am able to see these pieces in such high resolution, it is very much so a blessing.

This one is:
 https://coins.ha.com/itm/cryptocurrency/cryptocurrency-casascius-silver-proof-loaded-unredeemed-01-bitcoin-btc-2013-pr68-deep-cameo-pcgs-/a/3128-36038.s?ic4=ListView-ShortDescription-071515

I really wish the PCGS slabs were market "otoh collection" like the NGC slabs were.

If I had $15,000 laying around, a silver .10 would be an AMAZING INVESTMENT.

Some makers are more collectable and desirable than others, some metals or alloys are more collectable than others, some designs and slab types are more collectable than others.

It comes down to the maker, the metal, the condition, the funding (If the coin has been buyer funded, or maker funded). Any other attributes like documents, signatures, autographs increase rarity and general desirability.

The market for bitcoin and crypto collectables is dynamic and prices are still in their price discovery phases, but for the past two to three years the market has seen fantastic and dramatic growth.  

https://coins.ha.com/c/search/results.zx?dept=1909&mode=live&auction_name=3128&ic5=CatalogHome-ActionArea-BrowseAll-071515


There's an Otoh Auction with various 0.1 Btc Cas coins in January. A great chance to find a fair price imo

The otoh collection is definitely a great chain of custody and I recommend people with the cash buy them.  I didn't claim that I am the sole owner of a coin with a worthy ownership chain.  I would say the downside with the otoh collection is that he is auctioning them through an auction house that deals in USD.  I obviously don't accept USD so that is a major difference.  For someone sitting on BTC for 10+ years, that could result in a tax burden that increases the price by 40% or more to buy through an auction house along with it not being an anonymous purchase.  Using that as a gauge for pricing on this forum would be flawed in my eyes, but to each their own.

Chain of custody...

I guess I would say this...  I would not currently accept 0.2 BTC for this coin because I feel it is worth more than that.  If people think it isn't and the market dictates a lower price, that is fine and I don't disagree.  This piece honestly should stay in the only complete unpeeled precious metals Casascius collection in existence.  Maybe some people don't care about chain of custody or seller or coin condition and they want to buy one of these for 0.15 BTC at an auction where the seller isn't even told to potential buyers.  I'm obviously not the right seller for them.  The right buyer for this coin in my eyes would be someone who wants to know their seller got the coin directly from Casascius and can be trusted to not have pulled any shenanigans.  Especially with this 0.1 BTC coin where the price of ownership to try and pull something shady is the lowest of any loaded Casascius coin.  The seller matters to someone who wants peace of mind that what they're buying hasn't been tampered with in any way.  As time goes on and fakes get better, this will become more and more important.

It does seem like from the responses that people aren't interested in an auction at a price I would demand.  If I were to run a "premium" auction, I would want to charge double per slot than what is being floated, and it is clear from the responses that is too high to attract 16 participants.  Thanks everyone for your input and good luck getting your hands on a loaded Casascius Coin!

Hmmm

Totally speaking for myself, if the ticket (1/16) will be 0.005 BTC (face value paid separately), I'm probably in.
0.006 maaaaaybe. Above, nope.
Just sayin'.

Appreciate the response, I’m familiar on some of the point that you mention but still I’m confused on how do you guys determine what’s the correct premium that you will accept for your coin.

Auction is too risky for you to use just to determine what will people willing to pay to match the premium value that you really desired.

Sorry for lots of question, I have few collectible coins too that I’m wondering what’s the current value now since I purchased it when Bitcoin price is low.

The price is whatever someone is willing to pay for it. You should consider things like quality of the coin, the chain of custody, the trustworthiness of the previous owner or owners, and how the trade will be handled as far as escrow and transportation of the coin. People put different values on different things.

I’m curious on how do you determine the reasonable premium for a physical coin when it’s still loaded especially when Bitcoin price is increasing like the current price?

Is there any rule of the thumb percentage to the fiat price of Bitcoin to determine the premium or its just based on the auction result on how much user can pay for it?

You may easily regret breaking up the set at a later date.

If the set is historic, there is something to be said about keeping the pieces together as a single whole.

I personally do not have 0.00625 to risk on something like this, as lets say that I lose and someone else wins the coin my 0.00625 would be lost.

It's a really tough call.

I’ll consider a “premium” raffle if there are enough people interested and I can come to terms with the price. As stated the last one I sold was for nearly 0.4 BTC, so I’d likely do better just waiting for the right collector to find me. It would also mean breaking up my precious metals Casascius collection, which as far as I know is the only complete one in existence. It is nice to know there is interest at 0.2 BTC, I’m just not sure it goes both ways.

This is a really good idea.

You could in theory nab a cas for 0.00625 + .10 or only $625 over load.

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Different tangent, this is one of the coins that I would really like to have in my collection before bitcoin becomes to high in price and I get priced out.

The .10s are the most aesthetic cas in my personal opinion. The silver as well as the lower denom is something to really get excited about.

I would prefer a raffle that included the loaded amount, we used to pull off some of these back in the day. Remember the "raffleception" formats? Just an idea, a lot of work to run.

https://bitcointalksearch.org/topic/raffleception-4x-tickets-to-casascius-tenth-ms-67-raffle-4772390

Yep. This is definitely a great idea...

Dont think ive ever seen one done this way but its a great idea all the way around.  Limits downside risk while being able to possibly win this at a great price.  Not sure if id be in but you probably would find more people inclined to do it this way.

How about a premium raffle?

i.e. if you're looking for a sale at 0.2 BTC (a premium of 0.1 over face), the raffle is 0.1/16 = 0.00625 BTC per ticket.

The winner pays an additional 0.1 BTC to cover the face value. If they don't pay, we draw again until some winner does.

I think at that price point you'd find some more takers, myself included - many people throw away more than that on speculative trades, at least this one has defined odds.

Cheers

Sounds like the price is too high and a way to further reduce it would be to add more spots.

I think something I could consider might be 64 spots at 0.00321 per spot, but I think I might have a better shot finding 16 people willing to bet 0.01269 BTC? Seems like no matter how you slice it the cheapest of Casascius coins are too expensive for raffles anymore.

that is why he is doing a raffle instead of an auction - at auction he would get .12 to .13 (maybe less) by doing this raffle he can net 30k+

Just one.

How many 0.1's were available in that offering?

To give an idea of the market, a 0.1 anacs 69 just sold on greater collections for $13k.

OgNasty,

The last one MJ pointed out sold for around $18,000 at the time.

0.265 BTC at $65,000 - $70,000 per bitcoin

Bitcoin being around 100k - 110k at the moment and asking for 0.02 x 16 or 0.32 BTC is steep

It’s even more steep when you consider you’re likely gonna lose the 0.02 BTC just for a chance.

I’m not at all knocking it. If I had the money to burn then maybe but so many people especially in this moment I think rather have BTC because of the Bull-run and the Premium on the coins I believe are being impacted. Im not sure in a good way.

What I think is more likely is selling the coin straight out to someone for around $20,000ish but still may be a hard sell to people because they may rather just put 20k in bitcoin atm.

I’m just speculating.

But I think another option maybe is to allow more people the chance at $350-400 per ticket. Although making the odds more like 50 to 1. Then again it may be harder to get so many on board.

So many options with it.

Love the idea regardless 🙌

I did a few group buys and this is the last one I have, so as far as my eyes could tell it is the best of many.

Maybe I could throw in a 0.5 BTC Silver Casascius coin and do a raffle with both for 0.07 BTC along with some other prizes. Any chance we have 16 insane members with deep pockets that like to gamble?

This is tempting but also a huge risk. What a beautiful coin. Looks like a 70🤩

For reference, the last one auctioned here in March of this year went for 0.265BTC
https://bitcointalksearch.org/topic/--5489072

I've thought about selling my 0.1 BTC Casascius Coin and am not sure what would be the best way to do it.  The last one I sold for close to 0.4 BTC, which I assume would be a bit of a tall order these days.  I do think it might make for a good raffle though.  Would you be willing to pay 0.02 BTC for a 1 in 16 chance to win a 0.1 BTC Silver Casascius Coin? Maybe with a few other consolidation prizes tossed in?