Bitcoin Forum

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I bought a bunch of Series 1 & 2 casascius coins from Mike Caldwell more than a year ago. And I'm interested in selling some of them for bitcoins.
I thought about selling them one at a time on ebay, but that seems like a lot of work. Plus I would have to give a huge cut to ebay and paypal.
So I'm trying to see if auctioning them would work well. Not sure if I will regret this as I've seen them go for >$2000 each on ebay:
http://www.ebay.com/itm/Casascius-Bitcoin-Minted-in-Sept-2011-Version-1-With-Error-/181115649401?pt=US_World_Coins&hash=item2a2b557d79
If you win this auction, maybe you can turn around and sell them on ebay to make a profit.

This auction is for a tube of 30 series 1BTC casascius coins. They will come in a square coin tube.
I found that the half dollar coin tube fits 30 of these coins really well: http://www.amazon.com/Square-Half-Dollar-Coin-Tubes/dp/B004DB1K2E
I bought these from Mike and put them straight into the coin tube and kept it in my safe.
So the condition of the coins should be mint, but I have not opened the tube so I don't know if the coins have tarnished at all.

The starting price of the auction will be 30 BTC. Please bid in increments of at least 1 BTC.

The auction will end on May 1st 12:00 AM (right when April becomes May). Each valid bid will delay the end time by another hour.

When the auction is over, I will PM the winner an address (or post here publicly if that's what the winner prefers) and I expect payment promptly (2 days).
I will offer to the next highest bidder in case of non-payment. The tube of 30 coins will be shipped and insured (free of charge of course) to the winner within 3 business days.

I can have Mike Caldwell verify that he did indeed sell me a bunch of coins last year. My bitcoin-otc rating: http://bitcoin-otc.com/viewratingdetail.php?nick=coblee
If you know me, you know that my reputation is on the line. If you really want escrow, I might consider it, but the buyer would need to pay for all the fees.
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Too bad that you're only selling them as batch, I would like to bid for 2 or 3 coins.
Would you maybe sell single coins apart from this auction too?

Well, I can't pass on the possibility of getting 30 BTC coins for the BTC value alone AND with free shipping (I'm in EU, btw, are the shipping terms the same?)!

Of course that will never fly but it does bootstrap the auction bids ;)

30 BTC

31

posting to put on watch list, real bid will come later  8)

You don't need to post to put on watch list! You mean the 'new replies to your posts list' and just for that

35 BTC

Hehe, I actually meant to type 32 and clicked post too quickly, but I'll stand by my bid!

40 BTC

What is the time zone of this auction?

Are you willing to reveal the addresses?

45 BTC

So because I was (post button) trigger happy the bid increment is suddenly 5 btc? sheesh, it's no fun like this! I give up.

Oops sorry, timezone is GMT.
The address for the 30 coins? They are stored in the tube in my safe right now, so I'd rather not take it out right now and then type them in. But I will try to get Mike to confirm that he sold them to me.

Bid increment is still 1 BTC.

I confirm I sold coblee physical bitcoins at the approximate time he says I did, and believe that he is likely able to deliver the items he is selling.

Thanks Mike

Here's a picture of my coins:
https://i.imgur.com/gVF4izf.jpg

I know it doesn't show much. Sorry. :(

Do your coins have the misprint?

Someone correct me if I'm wrong.
All series 1 coins have the misprint (casacius) and the firstbits printed on the hologram.
Series 2 coins do not have the misprint and have the firstbits showing through the window in the hologram.

This auction is for one of the series 1 tubes in the top half of the image.
So it will have the misprint.

Depending on how well this auction goes, I might create another auction for a series 2 tube or another series 1 tube.

CONTEST! Whoever first figures out what's below the 8 tubes (in the picture) wins 0.1 btc.

Nope. Hint: it's related to bitcoins.

More boxes of Casascius coins for later years.

bitbills

Bitbills.

Oops, arij beat me to it.

Good job. You win. Post a btc address.

http://bitbills.com/media/images/1.jpg
http://bitbills.com/media/images/5.jpg
http://bitbills.com/media/images/10.jpg

Congratz

1AcjmWgvcJ3JCVU4wXCbzHEY5xygX2nPPp

Thank you!  :D

Coblee,

Is there a buy it now price you would consider for one of the rolls you are selling?

I would be interested in multiple rolls. Let me know. I can be reached by PM if you'd rather discuss that there.

BTC 50

Before the auction is over, I will go to my safe, take these coins out, and take some pictures.

51

hi coblee, what country are you sending from pse & if it's the states would you be prepared to hold the paid for roll until I visit later this year, if I happened to bid & win any of your auctions, thanks.

60

This will be shipped from California. I can definitely hold it. I will be at the Bitcoin conference if you would like to trade in person. But I would ask for a 10% deposit if that's the case.

I actually manage a band (Ionia) and they will be on your and heading to LA May 8 let me see if they can make a pit stop in your area. That would be awesome and save me a long flight!

Ill get back to you ASAP.

I also started an auction for a tube of the Series2 casascius coins:
https://bitcointalk.org/index.php?topic=188630.0

61

Which timeframe ? UTC ?

62 BTC

GTC

GMT
That's what I meant. Can't edit previous post.

63

Can you clarify which time you will be using for end of auction? Will it be UTC, EST, etc.? Thank you.

The auction ends at the end of April 30th at midnight GMT unless extended by a previous bid.

Thank you very much!

I'm going to my safe to get these coins now. I will post some pictures later.

I'm sure that you won't buy best not to handle these without wearing cotton gloves or something similar as once brass gets touched by hand it can tarnish quite badly in time, if you don't have gloves then either don't touch them or if you must then only by holding the edges, please to excuse if this is all obvious anyway already.

but* best...

Of course! I just took pictures. Uploading right now.

I started auctions for some other stuff:
https://bitcointalk.org/index.php?topic=191279.0
https://bitcointalk.org/index.php?topic=191292.0

I bid 64 BTC.

I bid 22BTC for 10 of them.

If OP approves this kind of deal, may be someone else could try to bid on 20 coins or 10 coins but not lower amount of them to save shipping work.

Sorry, it would be unfair to other bidders if it gets too complicated for the bidders to figure out what they have to bid to win the auction. So please stick with bidding for all 30 coins. If someone is interested in bidding on 20 coins, please PM StarenseN and have one of you bid on the whole tube and figure out how to split it up later. Thanks.

Ok any1 interested for a group buy ?

I'm interested to buy 10 of theses and I'll be the reciever/sender for the other coins. Everything can be done by escrow as well.

65

I found a partner. Thx !

Do you want another person in on it? I'm also interested in 10. (Depending on price of course.)

I'm also potentially interested in between 5 and 10.

66 BTC

67

Auction ends in less than 2.5 hours unless extended by a valid bid. Each valid bid extends the auction to 1 hour after that bid. If any of this is unclear, please ask me.

68

69

can everybody just stop, I have to go to sleep :)

If you bid 150, I'm pretty sure people will stop. :p

Yeah, the timezone of the seller suxx    ::)

No offence, but I'll need some sleep  ;D

Future reference most people have ADD. Waiting a week for an auction to end them extending it by an hour for every bid is exhausting and makes people lose interest. I totally forgot it was ending today.

We have people from all over the world, so it's not possible to please everyone. I wonder what's the best time to end an auction.


If the auction is only 3 days, people might not hear about it. And if there's no bid delay, then people won't bid normally and will all try to snipe at the last second. So what's a better way?

3 day and a fixed end time. Bid what your willing to bid, if not you lose. Whether its an hour or 15 min extensions there is snipping.

When Casascius did his it was 24hrs, 2 min extensions and there was a ton of activity.

If in doubt, go for USA, I guess. Also depending on where you yourself are located, obviously.

relax and don't bid plz

70 BTC

70

This bid is not valid as someone else already bid 70

Oh my, this is gonna be a long night.  ::)

Okay, 71 last bid. Not, because I wouldn't bid more, but because I need sleep   >:(

Sleep for 7 hours, it may be still going strong if ppl snipe every hr after 24:00 UTC.

btw, extending for  1 hr is excessive imo, if someone is interested in bidding 5 or max 10 minutes is plenty, better still 2 mins as Casascius successful auctions or it could drag out for ever & many ppl aren't going to devote that much time to checking it every hour I expect if it gets bumped by last min bids.

Maybe the best thing to do is a silent auction. Have everyone send me their max bid. When the auction is over, the winner is the first person that sent me the highest max bid, and he only needs to pay the 2nd highest bid + the increment. No stress, no staying up, but total surprise. :)

Might consider it if I do another auction.


I agree. I think it's too late for this auction. I might change it for my other auctions.

72 BTC

See you all at 12:24!!!!!!

If people need to go and would like someone to help proxy bid, I can do that.
Basically, PM with the maximum bid you are willing to bid, I and will help you bid until either you win or the bid has passed your max bid.
And if there's any doubt, forum moderators can confirm the PMs. I think that's fair, right?

Seriously? The guy hosting the auction is going to bid for people? Ummmm I am 100% not okay with this. If people need to go then put your max bid in and go to sleep. You're either going to wake up with some coins or not.

That is my entire point about extensions. The auction ends in 29 minutes if you can not stay up for another 29 minutes refreshing the thread adding bids then how bad do you really want them?

Anyone who is interested in bidding is going to be following this over the next half an hour for sure, do them all a great favor & change it to after 01:00 then bids extend the auction for 5 minutes (or 2 mins), most ppl have better things to do & you will actually get a higher price as ppl won't just say FI & bail.

73

Fine. Forget I mentioned it.

Not trying to be a dick but you understand the perception of this right?

Of course, it's like shill bidding where I bid on my own auction to increase the price. It's definitely can be seen that way. That's why I suggested I could have the forum moderators confirm that proxy bid. But I agree with you. I shouldn't be doing this.

100% agree. But it's a little late for that considering all the people who won't be back for an hour now.

75 BTC

76

leave it, resistance is futile :)

Are people ok with changing the bid extension to 5 minutes after an hour is up?

So if someone bids on 12:30:00, the auction will still end at 12:44:43 AM GMT. If someone bids on 12:42:00, the auction will be extended till 12:47:00 AM GMT.

This is fair because if someone took off for 50 minutes to come back to bid before 12:44, they will still be able to bid. And it's not unfair to bracek, the current high bidder.

If people are ok, i will make a GPG signed post making this official.

ok, make it faster

That's why I sugested 01:00 GMT/UTC which is in 1 hr 10 mins, everyone who is interested in bidding will see the change.

FWIW I don't think you should change auction terms after starting.  It's not like you can get everyone's consent.

So if the auction reads correctly the bidding has been extended to at least 12:44

bid now or forever hold your peace :)

77 FTW

Since I got 1 complaint, I will not change the auction terms.

FWIW consent is not needed by everyone, because it doesn't affect everyone. if you planned to come back to within an hour to bid, the change doesn't affect it. It only affects new bids that happen near the end and those bidders should have already read the new rules. There's a slight chance it will affect some that thought the auction will likely last hours, so they went to sleep. And if they wake up to find that the auction ended quickly due to a last minute rule change, they might be pissed.

Anyways, auction rule will remain unchanged for this auction. Sorry

78

See you at 12:59, the again at 1:59, and again at 2:59, and 3:59, also at 4:59, then at 5:59 with a fresh cup of coffee, and so on and so on.

Good luck!

I'll give 1 coin to each bidder if my bid at 78 wins

There's no need to wait til last minute, because it's not like you can snipe the auction when it delays it by another hour. So if you want to bid, it would make sense to bid right away.

he is waiting for me to go to sleep

This is not allowed. If there's any collusion going on, I would be forced to cancel the auction.

This!

something similar is going on when online poker tournament is nearing the end,
many players delay their actions to let others drop out/deblind

then I am forced to retract this offer

Maybe we should just combine our efforts? Coblee would you be willing to sell us each a roll at 78 since you have multiple rolls?

No, sorry.

79

79.50

80 sorry

This is going to be a long fu**ing night. You really want to make me waste more BTC every hour on the hour?

It's how the auction has been set up, it's an endurance test, if he hadn't bid then someone else would have, OP loses out as most ppl with this much spare cash need to better allocate their time to other things like earning or spending it, but it's how it is...

81

And just for reference. A series one single coin just went for 3.5BTC in the auction thread. So keep in mind resell is approaching worthless.

On Ebay these coins are no longer as hot as they were. They are selling for around $500 (3.57 BTC current price)

Also taking payment via paypal caused my account to be locked down with $3700 still locked inside because they hate BTC and say I am acting as a money service business which violates policy.

Oh and yes I am very much trying to discourage you from bidding any further because I am prepared to go higher and don't feel like waiting up.

Yup. It's a shame.

82  ;D

I read all your stuff.

So 83

84.50


I did not see any non-collusion requirements in the auction charter.
nor the 1h after last bid clause,

This bid is not valid. Bids must be in 1BTC increments.

84

The 84.5 bid is valid. Increments of at least 1 BTC. 84.5 is more than 1 BTC over 83. The next valid bid is 85.5 or more. Thanks.

nope, my increment was 1.50
your bid is invalid, lower than 84.50

any competent auction referee present?

Thank you. I'm really tired so could have made mistake.

86

I'm done. It's deep in the night here :-)

I just want to let you know that I'm open to buy 2 to 5 coins to the winner at the price he won (excl. shipping). May be it will help some investors...

same here, same here. I'll try to wake up in time to see next bid but need sleep atm.

87

88

89 :o

90

Good luck all.

Congrats Hannah! You are the winner.

Yup. You came out of nowhere to win the auction. I will PM you a payment address.

91,
I just woke up
is this really over ?

Lol, nice try.

I actually counted on you all to continue bidding for 6-7 hours,
seems strange that a noob with so low post count enters auction and wins it with a single bid...

Yeah 90 was my max and when I saw it heading that way I bowed out. I have people all over the world who want individual coins, but the offers are 3-4BTC per coin so there really isn't a market above what Hannah paid.

And technically I'm a "noob" too! At least to this site.

Selling the rest of my coins here: https://bitcointalk.org/index.php?topic=199785.0