Bitcoin Forum

Hi i am looking for some help please, i have inherited a CASASCIUS active physical coin (1BTC) and i'm looking for advice on how to safely auction or a contact for someone who would like to buy it. I am new to this,  but understand this is a rare coin and highly desirable. I also know this is a self mined coin so also special, although not entirely sure why at this stage. It’s a 2012 coin and active on the Uberbills .com website. It has been cased and in mint condition!

Any advise or guidance on the best approach would be really appreciated.

Thank you in advance!!!

You can auction it off in this section with a reserve price you have in mind. Be sure to use a trusted escrow though when selling.

Here's an ongoing auction for one of the Casascius coins from the same year:
https://bitcointalk.org/index.php?topic=5307335.0

Perhaps post a picture of the front/back of the coin with your username as a proof that you indeed have possession of the coin and it's in mint condition.

Thanks for the response, appreciated. I’ll need to research the trusted escrow topic as I have no clue how this works. Any pointers?

★LIST★ BitcoinTalk's ESCROW Providers: Ranking & Blacklist ☠ Avoid Scam ☠ (https://bitcointalk.org/index.php?topic=276897.0)

You can use this list to do more research on different escrow service providers here.

Being a newbie, if problems arise you might find yourself having to go the extra mile to prove your side of the story. For that reason you may want to use an escrow agent like minerjones who will let you ship the coin to him. That way your newbie status won’t make any potential issues a nightmare for you.

You may also want to look at the price your coin is getting at auction and weigh if it’s worth it for the extra bucks to ship it instead of peeling and claiming the coins. With the peeled coins also being able to be sold for a decent price, you wouldn’t lose too much money claiming yourself and selling the peeled coin, but it would be magnitudes less risky.

Thanks for the advice, really appreciate it.  Do you know what sort of money the used coins are fetching? Also what is the best company /wallet to use to redeem the coin?

Isn’t this loaded with 1BTC? That would make the value a little higher 😜

yeah if its loaded and the sticker is intact its worth at least 1BTC  ;D

You asked about selling 1 BTC brass bitcoin in Jan 21.  It is now 22 March 2021.  The Bitcoin price recently went over $60k, so we afe talikg alot of money here.

Firstly let me talk about value.   A few days ago, I asked one of the world’s leading auction houses.   They offered a free valuation service.   They declined to value it, saying they don’t auction money items like bitcoin due to the traditional buyer and seller premiums.

Historically a number of sales are “purported” to have taken place through this forum and others, and on eBay, but you should not use those as a guide since:

1) The bitcoin price has tripled in the last 3 months.
2) The rarity of un-peeled Casascius has increased, as many were peeled as the price rose.
3) Any sales may have been to shills, or even completely fake.
4) Both buyer and seller had a “trust” issue.  Most people would not buy or sell online, meaning prices do not reflect a true market value.

Based on sales which purportedly happened, i think an online sale in this or similar forums might fetch between 1.3 BTC and 3 BTC.  I think it would go for much much more if auctioned in a way which was more trust-worthy for the buyers.  Some eBay listings a couple of years ago were asking in excess of $200k.  That would have been the equivalent of 10 to 20 BTC, but there is no proof that those sales really happened.  I am not sure about whether eBay even accepts fully loaded listings.

I would like to see a major auction house sale happen, but see the second paragraph above.

Given the trust issue, I would try to sell via a specialised coin auction house who will give reassurance to buyers.  Worst case scenario is that you end up with less than 1 BTC due to the auction house fees, but there is an extremely good chance that you will get much more.  The downside risk is worth the upside potential in my view.  You might well see a price above $1 million.

Another way to avoid trust issues is to sell in person face to face, by advertising locally.   The trouble with that is the price.  The places you would advertise typically have second-hand bargain items at low prices.  What are the chances of a multi-millionaire bitcoin enthousiast spotting your ad?

The safest way to get value is to peel it and redeem the BTC, but that seems a shame, given the rarity. 

This is basically all terrible advice, and mostly wrong.

First, a 2012 Cas will not fetch between 1.3 and 3. If you are lucky you will get 1.1, depending on condition. This is the most trustworth place to sell physical bitcoins, bar-none. Auction houses are not interested, and charge a fortune in commission anyways. A price above $1 million??? Lol, that will not happen until bitcoin is worth $800k.

Ebay has basically zero seller protection. If you sell it there, someone will buy it, pay for it, receive it, then tell Ebay you scammed them and sent them an empty box, at which point Ebay will 100% return their money to them, and you will have no coin and no money.

Face to face is fine, and something I have done many times, but you better trust the person or do it somewhere safe. Lots of people will rob you if they know you are carrying what is basically $60k in cash.

At this point you have 3 choices:
- Keep it, it will be worth more in the future
- Peel it. This is the safest option, at most you will probably lose around 0.08BTC if you know how to sweep all the forks. ( ie 1BTC, 0.01BCH, 0.001BSV + peeled coin value)
- Auction it here with minerjones as escrow. You will probably get 1.05-1.08BTC. Minerjones removes the risk of being ripped off, but not the risk of the coin going AWOL between you and him. You can't get insurance, so you are shit out of luck if that happens. I have personally bought quiet a few this way, and it always went smoothly, but it was stressful as fuck.

Some people talk like they know but they really have no clue.

Seems low



What do you mean self mined?? Not sure that's possible.

I assume they are getting confused with BTCC coins, which they self mined and put into coins, so you are basically get coinbase coins. It's pretty cool IMHO, but not something Casascius ever did.

Are you referring to the BTCC Titanium Blocks: https://bitcointalk.org/index.php?topic=4392509.0  8)

LOL - The irony here is fantastic, thanks for the laugh! ;D

This is shit advice