Topic: NGC formally announces 250 Brass Cass Coins being Auctioned w/ Heritage Soon - page 2. (Read 2201 times)

That's amazing! Congratulations Otoh, this sale was an absolute hit! This was a win win win for everyone involved. Didn't you say you meant to do another one with Heritage soon?

These are incredible.

The fact that these coins are going for these figures is astounding to me. These are on their way to being some of the most expensive numismatics in the world

Another ATH record for an Otoh Collection 1 BTC resale: $78,000 including buyer's premium  

https://coins.ha.com/itm/cryptocurrency/cryptocurrency-casascius-brass-loaded-unredeemed-1-bitcoin-btc-2013-ms68-ngc-/a/232409-65215.s?type=bidnotice-tracked-endofauction

Ooops, sorry, just noticed already was posted above  

New sale!  2013 Cas coin 1.0 btc MS68: SOLD!   Hammer price was $65k plus 20% buyers fee. Final
Purchase price $78k

Link :  https://ibb.co/3pNzknd

Good to see them making it to the numismatic collectors circle.

all great info, thank. you Otoh. =)

Sure, I took the coins out of my private bank's safe deposit box and met up with Heritage's London director, Sara, at the bank's secure meeting room, I'll PM you the exact place in case that was convenient for you to use as well, we chatted with Heritage head office in Dallas to sort out the fine details of the deal, though those also got tweaked a few times right up to the sale itself, she took delivery from me right there and gave me a receipt to itemise them and showing that they were now insured for their bitcoin spot price @ $30,000/BTC = $6M, she either took or had them shipped to Dallas at Heritage's expense and handled any and all paperwork involved in that, because I consigned them from my tax haven fiscal location there was no US, or other jurisdiction's, income or capital gains tax liability on the sale, even though the auction took place is the States.

Because of the deal I made, which guaranteed me a minimum of the bitcoin spot price at the time of the sale, and then a later deal with guaranteed me a large lump sum to be paid to me in two weeks, plus for any unsold coins to be returned to me the whole working out of the accounts was rather convoluted and complicated, I also got 50% of the buyer's premium paid to me after 45 days, the bitcoin price was rising so fast and much that it all ended up very positive for both Heritage, myself and all of the buyers as well.

I didn't pay any shipping or seller's premium, I was meant to be charged for the NGC slabbing, but haven't gone through the settlement accounts yet to see if I actually was and how much if so, I don't think that I paid anything towards to catalogues printing and photography, etc, but again would need to check that to be sure.

Basically you'd need to negotiate your own deal with them, unless you did it through an agent who'd do that on your behalf.

Hope that this helps, will PM some more details...

Antique single Casascius coin 2013 1.0 Btc MS68 coins is getting auctioned off in the next couple days, link below.

Link:  https://coins.ha.com/itm/cryptocurrency/cryptocurrency-casascius-brass-loaded-unredeemed-1-bitcoin-btc-2013-ms68-ngc-/a/232409-65215.s


Enjoy

Im sure they would LOVE to auction that beast off.
Timing seems right as well, to me at least...

Greets Tank

Otoh,

Can you briefly describe the process and logistics of auctioning those 250 coins?

I am mostly interested in knowing:

• How were they transported to Heritage? What was the security like?
• Did you end up receiving more or less than the value of the BTC from the auction?
• Were there any costs to you?

I still have that bar and I don't feel comfortable holding such a valuable item, but I would hate to peel it. Perhaps I could auction it on Heritage.

Just for the record, the price was about $52,000/BTC at the time of this auction.

Yes, as rsincognito said


Someone flipped one of my Otoh collection Casascius 'Leet' BTC today, it sold for $69,000 (including the buyer's premium)

Heritage wouldn't have charged any seller's premium as it was re-offered through them

The vendor bought it for $34,800 (incl. BP) about three months ago on 3rd Nov, so it made over 98% profit, nice timing!

and the 0.5 BTCs seem to be even more desirable, as they flipped one of those for $36,000 (incl. BP)

https://coins.ha.com/itm/cryptocurrency/cryptocurrency-casascius-brass-loaded-unredeemed-1-bitcoin-btc-2013-ms66-ngc-/a/232407-63200.s?ic2

https://coins.ha.com/itm/cryptocurrency/cryptocurrency-casascius-brass-loaded-unredeemed-1-bitcoin-btc-2013-ms66-ngc-/a/3112-32142.s?ic16=ViewItem-Inventory-BuyNowFromOwner-PreviousPricesHeritage-081514

Actually not quite +98% as they'd get the hammer price of $57,500 and then a share of the buyer's premium, probably 50% = $5,750 of it, but could be more if the negotiated well, anyway at least $63,250 in total

I got 50% of the buyer's premium when I sold, on top of the hammer price, next time I'd try and strike an ever better deal, I was very impressed by Heritage's cataloguing, write up and marketing on my original sale, and I am super happy that all the buyers are well in profit so soon after the auction, as predicted, and that the secondary market at Heritage is proving to be both liquid and strong, it is very rare indeed to be able to re-offer auction buys in any fields so soon after winning them and not to then get a huge loss, let alone to be able to realise an almost 100% gain, all thanks to bitcoin in the main part, and we've only at the start of discovering what the ETF inflows will bring and how this wider interest in crypto will effect the physical collectables market.

I doubt that any other item sold, of the millions of dollars worth of offerings at Heritage, in these last three months, has performed as well, or at any other auction house either for that matter, except for similar bitcoin and crypto offerings at places like Stacks Bower, this won't have escaped collector's attention I'm sure.

Heritage auctions is at it again during a regular coin auction they slipped  in two Casascius coins which both sold

Lot #1: 2013 brass 1.0 Btc MS66 final sale price including buyer auction fee.
Sold for : $69k. (at the time of writing this, bitcoin spot value for 1.0 btc is $52k)

Link to item:  https://ibb.co/WkJ7J30


Lot#2: 2013 brass 0.50 Btc MS66 final sale price including buyer auction fee.
Sold for : $36k. (at the time of writing this, bitcoin spot value for 1.0 btc is $52k)

Link to item: https://ibb.co/pfxBpQ5



Hope you all enjoy the info      RS

if you look back in the history of this thread i think Otoh himself said that the auction house promised him at least btc market value, im not sure how the funds were chopped up honestly.

I learned that lesson a long long time ago after dealing with estate sales. In my experience, auction houses are never a good idea. They make money either way and can be motivated to do a bad job promoting in order for their partners to get great deals. Imagine getting paid so your friends can get goods below value. That’s what auction houses (at least the bad ones) will do for you.  This particular auction and timing were at best ill advised.

So does this mean the seller only gets $43k though when the value of BTC if peeled was 47k? Seems like the only winner here is the auction house who is getting a huge commission.

SP

Heritage just auction off 4 Casascius 2013 coins left over from the original Otoh collection auction last year  ,  they brought good premiums.

2013 cas coin 1.0 btc MS66
Brought $43k + 20% buyers fee  = $51,600 sale price
Link:  https://ibb.co/WGjkzJY


2013 cas coin 0.50 btc MS67
Brought $27k + 20% buyers fee = $32,400 sale price
Link: https://ibb.co/QnTW19S

(At the time of sale btc market price was $47k)


Basically anyone who purchased from the original Otoh auction has made good bank off their investment when you compare original auction premiums and btc market price to todays sale premiums and market price.

That is all

There were auto bids at $14,825 and if they wanted to buy one They had to bid $14,900 and they could own them ( a lot of them). The money got soft towards the end, had a feeling that might happen,  but it was still an amazing time , and there were way hire premiums on the MS68. the MS67’s were for sure the best bang for your buck,  everything with a grade lower then MS67 could not be bought cheaper then the ms67 price level ,  the m68’s we’re about double premium.


Edit; I forgot a very important part 🙄.  None of these prices I talked about had the 20% buy fee calculated into it , so add 20% to everything for the out the door price ,  and if you bought with a business account or were you in a tax friendly  state? so you didn’t have taxes on top of the 20%

Did you mean that no bidder could win a 0.5 at 14825?

 Congratulations on your sale Otoh!  For everyone else you can watch what happened on the video here

   https://www.youtube.com/watch?v=sRE0txfjfL0