What to do with two physical bitcoins

Vod

legendary

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Quote from: SIXMJ on January 04, 2021, 11:10:06 PM

What do other people do with the physical coins?
Are there any lenders who would take them as collateral if I needed to access some cash over a multi-year timeframe?

Don't view the lender as doing you a favor. It's you that has to trust the lender not to die or scam with your coin. And on top of that trust, you will need to pay high escrow fees since there is a chance the value of the collateral will go down.

You should give the coin to a local law office, and they can issue guarantees to the local bank for so much money. They can even do it anonymously for you, so the bank isn't aware of your identity. And their fees will be cheaper or comparable to random dudes (like the guy above me) who, based on his feedback, has no problem promoting ponzis.

tenakha

hero member

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Hi,
I may be interested in lending to you. Can you post the coins to London, UK?

PM me - lets have a discussion. Do you need the loan as fiat or BTC?

Thanks
Tenakha

Steamtyme

legendary

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Probably not a great idea to try and use them as collateral. They really defeat the purpose of crypto lending when you have to physically ship the item.

Here is the Collectibles There is a good chance you could sell 1 of them for crypto at a slight mark-up - I think they maybe go for 1.1 or 1.2 BTC for a loaded 1BTC CAS depending on grading and what not. Either way these are the people that know physical crypto in and out.

You may even be able to trade for some other smaller denomination coins and only cash out part of your coin. Don't forget they will also have forked coins associated with them, if you wind up peeling or someone offers you face value type stuff.

condoras

legendary

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Quote from: ranman09 on January 04, 2021, 11:46:12 PM

But, may I ask, do your coin has 1 BTC "loaded". Like do you mean it has an address inside and that is loaded with 1 BTC?

A physical BTC "is" an address since it considered a wallet. Wink

You can check here or read this article which I find a bit funny.

Quote from: ranochigo on January 05, 2021, 01:34:48 AM

You can probably get a good loan that is denominated in BTC.

However, if you were to get a loan in fiat, then it would be a whole different story. Physical Bitcoins are worth a decent amount but it's very hard to liquidate if needed. Cryptos are too volatile and the market for physical Bitcoins, especially those which are of higher denominations can be rather small. It would be time consuming and difficult for the lender to liquidate it so I wouldn't expect much interest on these.

I agree with you and I just want to add the verification/ shipping since we are talking about physical collateral. So if the lender has an interest, he will need the coins on his hand (literally) and then he will send any amount. Due to the covid crap, I can assure you that shipping items with any company or mail courier are back to the '80s!!!
Atm your best chance is to find a lender near you or sell one of them... Undecided

ranochigo

legendary

Activity: 2954

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You can probably get a good loan that is denominated in BTC.

However, if you were to get a loan in fiat, then it would be a whole different story. Physical Bitcoins are worth a decent amount but it's very hard to liquidate if needed. Cryptos are too volatile and the market for physical Bitcoins, especially those which are of higher denominations can be rather small. It would be time consuming and difficult for the lender to liquidate it so I wouldn't expect much interest on these.

ranman09

full member

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Someone who's collecting coins probably would find value for those coins. Especially if there are collectors and if your coin somehow has history on it.

But, may I ask, do your coin has 1 BTC "loaded". Like do you mean it has an address inside and that is loaded with 1 BTC?

SIXMJ

newbie

Activity: 17

Merit: 4

Hi,

First world problems and all that but, I have had 2 physical Bitcoins for about 8 years now and I'm very happy with how much they are worth and I'm reluctant to sell because I think they have a lot more growth to them in the next few years.

What do other people do with the physical coins?

Are there any lenders who would take them as collateral if I needed to access some cash over a multi-year timeframe?

I have one Casascius 2013 fully loaded with one BTC
One TGBex 2015 1BTC loaded, number 20 of only 40 made

Thanks in advance

Topic: What to do with two physical bitcoins (Read 206 times)