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He did mention that a lot of the buyers last night were more in the realm of traditional coins and wouldn’t look at crypto as an investment in collectibles. He sees the premiums going up from here with new interest, acceptance, and familiarity with physical crypto.
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James, who handled everything start to finish for the sale of my coins has agreed to have his contact information shared here. He handles a lot of the cataloguing and the consignors and is open to feedback on ways to improve the presentation for the future sale of crypto coins. If you have any coins you’d like to sell through Stacks Bowers he can help you out with that as well. James McCartney Director of Consignments and Numismatics Stack's Bowers Galleries 470 Park Ave New York, NY 10022 646-443-5455 JMcCartney@StacksBowers.comPlease be respectful with this information. He’s a good guy and is very helpful and excited about a new space being forged in the traditional numismatist community.
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Does Stacks Bowers remove the tax that needs to be paid before they send you your funds? Or is that all on you?
No they don’t. It’s on you. Which is a good thing because you’re taxed differently depending on how long you held the coins and what bracket you’re in. In my case, holding the coins for about 9 years (over 12 months) it’s long term capital gains. It would be different if you purchased them and then sold within 12 months.
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@PhysicalCoins4Sale
If you don't mind me asking, how much of a fee did the house take? What was the experience of getting your coins graded by PCGS?
What was the process.
Stacks Bowers will negotiate fee structure with you based on your specific consignment. They also have to charge sales tax depending on the location of the buyer. The experience with PCGS was pretty quick and excellent. Stacks actually handled the whole thing and grading cost just over $100 a coin (paid out of the sale price). Stacks being a large customer of PCGS probably gets a discount and definitely gets some pull on getting coins rush graded. The BTC set they had graded very quickly so they could start advertising it and the LTC coins took a few weeks. Basically if you call in to Stacks and set an appointment to drop off or ship in your coins, they handle the rest. I actually brought mine in to NYC personally and they insured them for free and shipped them to CA for the grading and auction. Very smooth experience.
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I can't imagine there are a lot of lealanas that are MS70 I was thinking that contributed to the high premiums
I did keep my coins excellent, but there is a huge market of numismatists that are getting their eyes opened to a new area with these coins. I’m sure there are a lot of 66+ that will get huge premiums over the next few years. In all honesty I got what I was hoping and then some out of the LTC coins. But I was hoping for another $50-100k minimum on the bitcoins. This entering the mainstream is really going to change things. PS thank you @Eclipse33 for posting the prices. I was going to in the morning. PPS I got shot down by 5 major auction houses trying to get these listed. Stacks Bowers is the leader on the crypto front. I hope other auction houses start to accept crypto.
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Funded crypto coins? You have any photos?
Links to the auctions/photos in first post.
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2 hours until Session 3 rarities night starts.
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Tomorrow, Tuesday 4/5 5pm ET, auction starts. Expect an hour or 2 before the crypto coins get close. Take a look and enjoy the wonderful coins.
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Bump. Check em out peeps. Only 3 days left til they hit the block.
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“The value of this piece was buyer-funded and remains unredeemed, further increasing the desirability.”
Yah the wording is a little weird. The BTC price was a bit higher at the time of that sale, but I’m hoping the rarity and desire for a set will yield a better hammer price than that coin did.
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Only coin I don?t expect to break $5k is the 5 LTC coin. But someone trying to get the whole set may go over that.
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Thanks for the additional info. Most countries don’t really require KYC until you hit around $10k so that makes sense.
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Anybody can bid with no verification how is that a secure auction?
Bids under $5k you verify if you win. Over $5k you can’t bid without verification.
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It was funded. But definitely not so rare a coin. Definitely not sets either.
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Awesome, thanks for the insight. Man, this is exciting to see what these will go for. Good luck!!!!
Well. There was a 0.1BTC Lealana also PR70 that sold in Nov for a 500% premium. I’d be ecstatic with a 6x face value sale like that, but not necessarily expecting it.
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Very nice coins. I am looking forwards to see what they go for.
Thank you. Me too.
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PCGS grading crypto.. since when?
Had my coins graded by them in 2018. Thanks for the correction. I’m assuming yours are some denom of Casascius or Lealana 1LTC? I know there was only 1 Lealana coin PCGS graded before mine of larger denominations.
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Stacks Bowers will negotiate a specific fee structure for your coins.
I’m not sure on sales tax because I haven’t looked into the buying side but I know I’ll have to pay long term capital gains tax.
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They do actually designate special coloration of addresses, error coins, special coloration of holograms, etc. Especially at request. They’re good at PCGS and care.
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Approx October... One person convinced Stacks Bowers to put up a 0.1 BTC Lealana coin in the November auction and they use PCGS... I followed suit and now theres probably around 20 PCGS graded crypto coins.
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