Topic: NGC formally announces 250 Brass Cass Coins being Auctioned w/ Heritage Soon - page 5. (Read 2201 times)

Historic auction, kudos to you! I’m sure it will catch a lot of eyes. If I had the money I would be bidding.

lol  

The NGC coin grading, and this auction, is primarily to preserve these coins as a piece of the early Casascius physical bitcoin production for prosperity, and also to test, and hopefully encourage the wider numismatic collectors market for this presently, relatively niche, field.

I've sold all of my digital crypto over the years and the physicals were always my long term 'cold storage' option, now after more than ten years it seems the right moment to let these go, it isn't primarily about getting the maximum return, when I consigned them bitcoin was at $30,000/BTC, and of course it was 50/50 if it would be lower (as now), or higher when they came to auction, it will be interesting to see how they do in such a high profile US auction house, hopefully they'll appeal to some collectors there, and maybe pique the interest of others, and some MSM coverage perhaps.

If the sale does do well, ie over the peel value anyway, then there may be a part 2 & 3 (or more) of my collection offered over the next few years, with both much rarer and higher denomination offerings, plus BTCC goodies, if it gets stuck around the spot price on Nov 3rd then I'll rethink, but for now I'm excited to offer this hoard preserved through a wild west volatile early decade to new custodians and enthusiasts to enjoy the subsequent decades of ups, downs, thrills and spills.

www.otoh.com

They say that Otoh "was a nice old Britishman". 

I wish I would get my hands on a piece someday in future HERE. 

I was excited about this auction but I'm out. This is essentially a KYC process for Bitcoins that have never been KYC'd.

This will be very similar to buying Bitcoin on exchanges. Exchanges know exactly how much BTC you have purchased, I don't want to be on file for buying a Casascius coin too.

keep in mind, all that added info is if you want to take part in their financing program only, if your paying cash its a little less info that they need for verification

Oooof, that is a big no from me.  I understand the deposit, but the rest is far too much.

Uh, that sounds horrible. Thanks for reporting and going down that rabbit(butt)hole.
I really wonder how many potential collectors will be willing to go through all this to buy a Cas coin.

A total of 250 Cas suddenly available on the market - always great to see an extended distribution of these historic pieces. Just wonder if there will be enough high-roller buyers to take that opportunity. Maybe one or a few big whales jump in to buy up the majority of these coins. Exciting times.

Currently looking at the credit app and the requirements and it is borderline an "anal probe" about 2 feet inside. lol. along with $5k deposit bank wire they want a letter signed by bank like a power of attorney  that allows the bank to release all banking account info showing current balances and such to the auction house. along with a resellers tax ID and a personal guarantee. As a long time business owner the only time I have seen more credit verification needed from myself was when I was trying to get a loan on a commercial piece of property, its almost that deep of a dive. I will continue to keep you all posted on my experience if you like.

Wow! This is a huge moment in crypto collectibles!

This auction is delusional in scale for a first offering.

"The Heritage Auctions sale includes 150 brass coins that are denominated 1 Bitcoin and 100 brass coins that are denominated as 0.5 Bitcoins."

We are looking at 200BTC load value in this auction, just shy of a cool $5.5 million.

Who they will find to come in and gobble these up with $5.5 million + is anyone's guess.

Is this a signal of the start of the next bullrun?

You would think that eventually they would allow this and we can only hope for it! Time will tell

I spoke to them extensively on the phone today, they don’t usually do the $5000 deposit thing, but because of the value of each coin that’s what you got a pay to play. I have the credit app and I’m filling it out tomorrow to submit it, when I find out the terms I’ll let everybody know on the site. Being able to pay in bitcoin would be a major plus.

Ah.. Nice find! I thought it might be possible via a contact or the right channel, but I have no idea really... That is a bit much, but I guess it's understandable considering the risk factors.

Then again, Id' probably need a deposit of that much in some $ or proof thereof even to participate anyhow, amirite?

Hold up I just found it...

"Heritage offers extended payment plan options up to six months to qualified, pre-approved clients on select items. Please email [email protected] or call Client Services for more information. We also accept Bitcoin and Ethereum on invoices over $5,000 subject to approval. Please email [email protected] or call Client Services for details."

but what also sucks is this...

"A deposit of $5,000 or more is necessary in order to participate in this auction. Heritage reserves the right to determine the amount of deposit to be submitted"

I don't think so...

Below are some common answers to questions on the topic you selected:
What are your payment options?

https://fineart.ha.com/c/contact-us.zx?ref=&topicId=10#answer

Edit this site seems pretty high end but must deal with all sorts of scams judging by the "Email me!" pages lol... IDK.

Never been a mainstream online auction house-follower either, so there is that as well.

Now that I look deeper, I may contact them about a rare 1969 set of sterling dinnerware that my parents received at their wedding and was never used or opened, so in great shape box and all.

They seem to deal with all sorts of different stuffs.... I'll let ya know!

Does anyone know if they accept Bitcoin as payment? I can't find any information on the website

Very cool. Especially since they're labeled "The Otoh Collection". I expect these will go for relatively high premiums.

Congrats Otoh!

Appears that way. Quite a flood at once IMO.  

Wait were all 250 coins submitted purely from Otoh?