Bitcoin Forum

Description: Special Auction for 3x Denarium Gold Bar 2018
Starting bid: 0.7 BTC
End date and time: Tuesday 4th of December at 20:00 UTC and when there have been no new bids in *5 minutes*
Payment methods accepted: Bitcoin, Monero, Litecoin, ETH, ETC, Dash, Ripple (payment is made through Coinpayments)
Additional information: Read below

Here is an auction for the first Denarium Gold Bar. This elegant piece of art is produced as a limited edition of one hundred 2 oz gold bars. Three will be auctioned, and 97 will be released at Denarium.com after the auction. The product is free of VAT and shipping is included.

Each bar has a serialized number (1 of 100) and a special auction serial number (A-series). The bars in this auction are numbered 1, 2 and 3 with serial numbers A333, A336 and A338. The gold bars have a gold content of .9999 gold independently verified by a third party lab and each bar has the stamp to prove this. The standard Finnish assay mark has three nines at most, but the front side shows the .9999 purity.

Details

Dimensions: 30 x 50 mm / 1.181 x 1.969 inches
Thickness: 2,8 mm / 0.110 inches
Weight: 2 Troy ounce / 62,21 g /  2.16 ounces


The bars in this auction are pre-assembled, and the serial numbers of the bars in this auction are A333, A336, and A338.

Pictures of the bar

https://denarium.com/wp-content/uploads/2018/11/denarium_2oz_bar_2018_900.jpg
https://denarium.com/wp-content/uploads/2018/11/denarium_2oz_bar_2018_900_back.jpg

Video of the bar

https://www.youtube.com/watch?v=G6zatH2bOIs&feature=youtu.be (https://www.youtube.com/watch?v=G6zatH2bOIs&feature=youtu.be)

Package of the bar

We pack every Denarium Gold Bar 2018 to clear square plastic capsule. It protects the bar and shows both sides clearly.

https://denarium.com/wp-content/uploads/2018/11/denarium_2018_2oz_bar-7-1024x701.jpg

https://denarium.com/wp-content/uploads/2018/11/denarium_2018_2oz_bar-15-1024x604.jpg


General information

You are ONLY bidding for the bar itself, not the bitcoin value inside the bar. If you win a bar, you can choose to buy it loaded which will add the BTC to the auction price. This is a no-denomination (custom) bar meaning you can add any amount of BTC to it. Alternatively, you can decide to buy it empty. To the US we can only sell bars that are not loaded by us. The "empty" bars can easily be loaded with bitcoin value by the customer himself/herself, however.

This gold bar is defined as investment gold and is not, therefore, VAT taxable, i.e., there is no VAT in the price, and it will not be added either. Duties and taxes may apply depending on your country. The buyer is responsible for the possible duties and taxes.

Shipping cost

Free of charge worldwide! The value of this is around 40 € on average depending on the location, so keep that in mind when bidding. Smiley

Serial numbers

All the bars have special auction serials (A). The serials reserved for the bars in this auction are A333, A336, and A338. These are very special since all the bars sold at the website will have either L (loaded) or E (empty) serials.

The winners of the auction can (in succession starting from the highest bidder) choose which serial they want. It can be the lowest available but also one of the others.

Shipping date

The bars are pre-assembled. Estimated shipping date is within a week from the end of the auction.

How to bid

You can bid for any amount of bars from 1 bar to 3 bars. The bidding format is "2 @ 0.8" which means "I'm bidding for 2 bars, 0.8 bitcoins each". If you want to bid for one bar only, post "1 @ 0.8". If for all of them, post "3 @ 0.8". The auction is conducted by using at most 2 decimals and all bids must be divisible by 0.02 BTC. So you can bid "2 @ 0.82" or “2 @ 0.84” but DO NOT bid "2 @ 0.83".

So if I were bidding for 2 bars and 0.8 BTC each, I would post "2 @ 0.8".

Each winner will pay exactly the amount that they bid. Meaning that if the highest bidder bid 1.2 bitcoin and the lowest winning bidder bid 0.8 bitcoin, then the highest bidder will pay 1.2 bitcoin for his bar and the lowest winning bidder will pay 0.8 bitcoin for his.

Auction rules

- When you post a bid, the bids in your previous posts are considered to be automatically canceled. You can put multiple bids in one post, however.
- All bid prices must be evenly divisible by 0.02.
- If two people bid at the same price, the person who bid first will be first in line to win a bar.
- Bids are considered invalid and will be ignored if they do not specify the price of the bid and the number of bars the bidder is bidding for, or if they could not possibly win any slots.
- Winning bidders must inform me within 24 hours after the end of the auction which serial number they are choosing. Then the winner has 48 hours to pay the full auction price.

If these rules are confusing, please ask in the thread, and we will answer.

We will reserve the right to reject bids, even days after the bid is made. If bids are rejected for any reason, the next bids in line that didn't win initially, will come into play and will have a chance to buy a bar.

Important: Auction payments should ONLY be paid through a Coinpayments link that we send to the winner. Do not, under any circumstances, make payment to a Bitcoin address sent by PM.

Note: If you can not send a direct message here, please use the email address store@denarium.com

If you don’t want to send your address through Bitcointalk private message, then you can also use Privnote service https://privnote.com/#

Good luck!

Bar looks awesome. Nice work!

it's really beautiful  :o

1 @ 0.7 BTC

Looks great, nice job Denarium!

1 @ 0.7 BTC

Hello everyone. Looking forward to this auction, I believe this is our greatest product so far. I will be updating the status of the auction bids regularly.

1@ 0.7

A Beast!   Looks real good.

1@ 0.72BTC

Looking good! Who's the artist?

1. - .74 BTC
2. - .7 BTC
3. - .7 BTC

Our in-house graphics artist, who has designed all Denarium products.

This bid will not count as it makes no sense. Please use the bidding format specified in the rules.

Current top 3 is:

greenplastic 0.72
lebnor 0.7
comit 0.7

1 @ .74
2 @ .72

Ok, that'll work. Now the top 3 is:

praine 0.74
greenplastic 0.72
praine 0.72

This bid does not count, as each bid must be divisible by 0.02 BTC. So 0.74 is ok and 0.76 is ok, but not 0.75.

1 @ 0.76 BTC

Is the retail price for #4 - 100 already known?

Now top 3 is:

comit 0.76
minerjones 0.76
praine 0.74

Our initial estimate is 3990 € for the store price but this is not locked in. We're still surveying the general interest and will try to price it correctly.

Edit: Our company sees gold also as an investment, meaning we are not in a terrible hurry to sell any gold products especially with low margins. Thus we will avoid any underpricing perhaps more than with the other products we have.

3 @ .8 BTC

Clear, thanks!

1 @ 0.82

1 @ 0.82 BTC

1 @ 0.84btc
So the ones that will be listed on the website will be free of vat as well?
And what’s the btc denomination for this bar, if any?

Yes, it'll be free of VAT at the store as well. This is simply a legal issue, gold bars count as investment gold which we can sell VAT free. Coins do not, unless they are an official payment method in some country. Our coins obviously aren't, so thus the VAT. This is a bit silly but it's the law that we have to work with in Finland.

Current top 3:

bavicrypto 0.84
comit 0.82
lebnor 0.82

Nice bars!  Is that coloring enameled on?

Tempting

Edit bid 0.84 x 1

Stunning bars! Extremely well made.

May I make a suggestion for the auction?

It's always easier if you were to "name" the bars. So say they are "A", "B", "C". This helps with any confusion regarding who has the highest bid and it also makes it easier on you.

Good luck with the auction, will be interesting to see what these go for :)

So just to be clear, each bar has 2 oz of pure gold in it?

Thanks

great suggestion..

Yes, it contains 2 Troy ounces pure 99,99 % gold.

No, it's not. There is a very thin layer of color printed using an UV printer. We've requested further detail from the mint and I'll update this post once I have something more.

Edit: We asked for further detail from the mint and they said the following: "The paint should be removed before melting (with e.g. spirit or petrol). The ink doesn’t decrease the gold value."

This was regarding another question we received from elsewhere, meaning if one wants to simply liquidate the bar and sell to a broker that melts it, is the ink a problem. It's not as long as you remove it first which is easy.

---

Interesting suggestion. We will not change anything regarding this particular auction, but we'll take this into consideration regarding future auctions of other products.

---

Current top 3:

#1 bavicrypto 0.84
#2 Clashicly 0.84
#3 comit 0.82

Clashicly, try to use the instructed format from now on. Your bid was clear enough though so I will accept it for now.

1 @ 0.9 BTC

Current top 3:

#1 comit 0.9
#2 bavicrypto 0.84
#3 Clashicly 0.84

4 days left until the end of the auction.

Can I bid on specific bar or this will be randomly selected once bid is finished?

Top bidder will choose first. #2 bidder will choose next. And the #3 bidder after that. Most likely the top bidder will choose bar #1 and the second bar #2, but they can choose otherwise as well.

So the answer is no, you can't bid for a specific bar. You are bidding for a bar and the order of choosing a bar. Nothing is randomly selected.

Approximately 2 days left until the end of the auction.

Current top 3:

#1 comit 0.9
#2 bavicrypto 0.84
#3 Clashicly 0.84

Less than 24 hours left until the end of the auction!

2 @ 0.92BTC

1 @ 0.92 BTC

1 @ .94

Current top 3:

#1 praine 0.94
#2 greenplastic 0.92
#3 greenplastic 0.92

6 hours left.

Congrats to high bidders. Looks like a wonderful piece to own.

Current bids are lowball. Our store price for the rest of the bars is guaranteed to be larger than any of the bids so far, so I consider these as bargain prices still. We'll see where it goes at the end.

Buyers are hesitant to bid more because bitcoin price is depressed and this is affecting all auctions. Good luck with the auction regardless!

Couldn’t agree more.
The potential that 0.94btc has is just so much bigger than 2oz gold, in my humble opinion.
However I’m still tempted as these bars look AMAZING! Good luck!

It's possible to rebuy BTC if one spends it, in order to keep BTC stash more or less intact. I agree, not necessarily the ideal time to diversify into gold, but the value of these specifically are on the collectible side as well, not just the gold.

In anycase, we are approximately 2 hours from end game. Top 3 is still:

#1 praine 0.94
#2 greenplastic 0.92
#3 greenplastic 0.92

You're off your fucking door mate!

30 minutes to go!

Current winning bids:

#1 praine 0.94
#2 greenplastic 0.92
#3 greenplastic 0.92

Less than 10 minutes to go until deadline. Auction will end when there have been no new bids in 5 minutes.

1 @ 0.96 BTC

1 @ 0.98 BTC

Current winning bids:

#1 Ramelius 0.98
#2 comit 0.96
#3 praine 0.94

1 @ 1 BTC

1@ 1BTC

Current winning bids:

#1 lebnor 1
#2 greenplastic 1
#3 Ramelius 0.98

1 @ 1.02 BTC

1 @ 1.04 BTC

1 @ 1.08 BTC

1 @ 1.1BTC

Current winning bids:

#1 lebnor 1.1
#2 greenplastic 1.08
#3 comit 1.04

1 @ 1.2BTC

1 @ 1.1 BTC

(edited to add “1 @“)

1 @ 1.22

sniff sniff?

-

Current winning bids:

#1 kebab77 1.22
#2 greenplastic 1.2
#3 lebnor 1.1

Auction still continues.

1 @ 1.12

1 @ 1.3BTC

Current winning bids:

#1 lebnor 1.3
#2 kebab77 1.22
#3 greenplastic 1.2

1 at 1.32

Current winning bids:

#1 kebab77 1.32
#2 lebnor 1.3
#3 greenplastic 1.2

That's it! Time is up. Congrats to the winners.

WINNERS:

#1 kebab77 1.32
#2 lebnor 1.3
#3 greenplastic 1.2

Our official account Denarium (creator of the original post) will be in touch within 24 hours regarding the practicalities of choosing the bars and making payment etc.

I don't want to state the obvious, here.  To create less conflict.  :-X

If you're referring to the "newbie account" kebab77, he is a Bitcoin early adopter who has made many orders from us from the store and won coins from previous auctions, and has always paid. Unless you're suggesting a conspiracy, there shouldn't be an issue here.

Yep.
 

Thank you both for addressing that..  ;)

Denarium, it often times looks suspicious to some people when newbie accounts come in and make large raises like that.. we understand that based on where you guys are located there may be names that just lurk and don't post so much in the english-speaking dominated forum.. just imagine if you had left trust with him a year ago stating he bid and paid, transaction went smooth.. this wouldn't even pop up as questionable. use the forum's tools to your advantage.

congrats to the winners, if we skyrocket again i'll definitely be buying one of these beauties in the future

edit- changed 11months to 1year as he didn't win the January 2018 auction.

I appreciate this feedback and we will definitely consider improvements to increase trust.

As far as I can tell, I only outbid the top bids by the minimum amount ... if I did this wrong somehow, I apologise
I just wanted first choice for the serial number

Nothing to do with your bidding procedure. It's just suspicious when a Newbie account participates in an auction for obvious reason: anyone can register the account.

I agree with this, it seems that these accounts only come out to bid on Denarium auctions. There were many things that I was wanting to bid on but will not participate because of of the fear of getting bid up. I raised this issue and an auction here recently which I continue to bid in until a other account came in and started bidding that only bids on their auctions. I know for a fact it cost them money knowing what I was prepared to bid. I'm not saying that anyting fishy is going on, I'm just saying I'm not betting against 2 newbie accounts or any other accounts that just bid on their stuff with no interaction with the community outside of that. I do not post a lot myself so I do have an understanding there but at least I have some kind of History with multiple and different transactions.

We have always seen the same with the BTCC Mint auctions. Denarium being based in Finland and BTCC Mint 'was' based in China, you never know if they put out Facebook ads or tv commercial slots or the equivalent in their local forms of social media. This brings newbie accounts here and maybe we as the skeptics (its not a bad thing to be one) need to establish an unofficial official rule or two for future auctions, something easy to follow and easy to abide by.

Some good points have been made. I don't plan on selling anything in the near future but I would most likely only allow bids from new accounts who had bought Copper membership. That does not prevent shill bidding but does indicate the buyer is more serious about collecting.

The company behind Denarium, Prasos, has multiple business lines in the crypto space with Denarium being actually the smallest one. Prasos has over 80000 customers in its services at large and especially recently (due to Christmas), and this being an important auction, Denarium stuff has been pretty much pushed through all the other services of Prasos as well. That's basically the reason for the newbie accounts, as these are promoted outside Bitcointalk quite a bit.

In this auction there actually wasn't any true new accounts which was a bit surprising to me. The winner, even though technically a newbie account, has bid (and won) in our auctions previously.