Bitcoin Forum

I have a question for the board, take a look at the following auction:

https://www.ebay.com/itm/196136903632

What concerns me is this "Private key was strategically removed so the holographic sticker would still appear aesthetically great!".   I am hoping this is a fake hologram that was put on the coin, as I have never seen a holographic sticker removed without clear evidence.

This seller is honest about it being redeemed, but what if someone could repeat this process and expose the private key (but not redeem), then sell the coin as loaded and then redeem after the sale? 

I wanted to make sure the board saw this and I hope someone can chime in what they think this is.

Thanks!

Mark

This is definitely interesting - thanks for posting. It does look too perfect, I am not sure here ... @Minerjones ... what say you? :P

https://i.ibb.co/QdfBFxj/image.png (https://ibb.co/QdfBFxj)

They cut out the middle portion where just the private key is underneath with a razor-blade and put it back in-line with the rest of the hologram
This produces zero honeycomb-pattern residue, so no part of the hologram will look "peeled"
Very hard to see, but the cut line is there... if you look at some of their other listings, they sometimes do not put it back 100% aligned
I have seen this method used on a few Titans also

Ah shit! Good eyes, I totally missed that.  ::)  Good to be aware of this, they did a pretty good job! :P

I have one of this coin that I purchased long time ago. It’s good to know that there’s a way to preserve the aesthetics when this coin is redeemed.

I never saw what’s beyond the hologram sticker but I’m curious on what’s the exact location of private key in the middle part to avoid being cut and for a more precise way on doing this method in the future.

The key recess is centered on the back of the coin.

It matches up pretty well with the "B" in the center circle on the hologram.. and this is what they cut.

I know certain makers have offset the key recess to not be in the center... want to say there were a few Lealana like this ???

Here is a picture from an auction I recently held:

https://www.talkimg.com/images/2023/12/17/E8gnw.jpeg

     Yes you can see it if looking really closely as follows...

       https://www.talkimg.com/images/2023/12/17/EKuog.png

         I have done this on loaded items...especially with coldkey cards...a good craft knife and voila, you can have a decent hologram left behind.

        

This Ebay seller has a large quantity of higher grade 2011 error Cas’s he has been selling redeemed. All his Cas’s were redeemed the same way with a hobby knife to cut the key. It appears he opened rolls, redeemed, graded, and selling collection off on Ebay now.

I’ve purchased 4 so far from this seller in recent months (some of the ones he auctioned).

All arrived in good condition and they really are nice examples of redeemed 2011 error coins and the prices have been reasonable.

He told me that it was a forum user that consigned him with selling them off and that they aren’t his personally but who knows if that’s the truth or not. He did not say which forum user obviously.

SP

Just a reminder that Casascius coins were cracked back in 2013 with a method to remove the private key without compromising the integrity of the hologram.  Always make sure that you're buying your coins from someone reputable and if possible with a chain of ownership to avoid becoming a victim of this now decade old scam.

https://www.coindesk.com/markets/2013/08/13/defcon-hackers-crack-physical-bitcoin-casascius-coins/

It is important to remember that tamper-proof holograms are like door locks, they keep honest people honest.  Criminals can still get around them.  Make sure you know who you're buying from.  Never participate in auctions unless you have this information. 

great educational article, thank you =)

you make me want to go look at all my cas coins under w microscope now. lol

Holy shit .. WTF  :o

It's impossible to see through things like this especially when you buy online.  The only way is to buy from someone who was either the first buyer or someone with a chain of ownership.

I don't want to know how many manipulated coin are in circulation or how many readed private keys are waiting to be bought to redeem them directly

If you check the coin's public address it will be obvious it was redeemed.

I suppose there is the risk a seller removes the key, sells it, and then redeems.  That would suck.

I bought a couple for cheap. he did a great job cutting around the emblem but you can tell it was removed. makes sense he is the just a reseller.

The only issue I have is that he charges $20 for shipping then uses USPS ground advantage with no insurance. effectively over charging by about $12 per coin on shipping. I don't know it just doesn't sit well that I pay $20 for shipping and don't even get a $10 flate rate priority shipping.

Yeah, that is kind of a dick move on his part. No insurance even.. I hate ebay. :P

I purchased a couple. I love it. Its a cheap way to display an original "looking" Casascius piece without having to lay out a $45,000.00 round. It allows you to kinda see the original hologram without a huge risk of having the original funded piece out, which could lead to theft, lose or damage. The more you do it, the more the risk is of something going wrong.  

I don't think it will be an issue for people that are going to be paying large amounts for these coins because 1. They already know what to look for and/or 2. They hired a 3rd party person that does know what to look for.

I have added peel points, honey comb tears, fake identifiers as well as cut marks to the verification procedure. Although the cuts are small, these will be easily identified.  Plus you verify the address on the blockchain.