[Sold] Casascius Coins

[Quickseller]

Nice coins. I struggle with your valuations.

You're pricing the error coin at 6x face value?!? You realize that it's the most second common coin issued by Mike, right? Over 5,000 of these error coins remain funded (of a 6,000 mintage).

And the "tenth" coin is going for 15x face value? I guess I see your rationale for the higher valuation, because only 800 where minted, but 15x is way too much.

I look forward to seeing what these coins go for. My opinion is only my own but I believe the rationale on some of the offer prices for these coins are just insane and, worse, without logic. I think it's an important discussion for us all to have.

Cant speak for the error coin but if you find a casas tenth below 1 BTC please let me know.  Would buy em at that price point all day.  1.55 btc is not too far fetch.  They have been selling in and around there for awhile now.

Why should the tenth be 15 times more expensive than other coins with similar mintage? Just because people want that much doesn't mean people should be paying it. I bought my tenth for BTC0.71.

If we want fair prices we have to agree to only give fair bids and only accept fair offers.

Can you post pictures, link to the thread you purchased it from and post a txid of this transaction? A tenth selling for that cheaply should certainly be well documented as that is probably close to a record for the cheapest ever sold

[LitcoinCollector]

Nice coins. I struggle with your valuations.

You're pricing the error coin at 6x face value?!? You realize that it's the most second common coin issued by Mike, right? Over 5,000 of these error coins remain funded (of a 6,000 mintage).

And the "tenth" coin is going for 15x face value? I guess I see your rationale for the higher valuation, because only 800 where minted, but 15x is way too much.

I look forward to seeing what these coins go for. My opinion is only my own but I believe the rationale on some of the offer prices for these coins are just insane and, worse, without logic. I think it's an important discussion for us all to have.

These Casascius coins are a piece of bitcoin history!
I think the prices will only go up as the demand gets higher and the supply stays the same.

[Blazed]

Nice coins. I struggle with your valuations.

You're pricing the error coin at 6x face value?!? You realize that it's the most second common coin issued by Mike, right? Over 5,000 of these error coins remain funded (of a 6,000 mintage).

And the "tenth" coin is going for 15x face value? I guess I see your rationale for the higher valuation, because only 800 where minted, but 15x is way too much.

I look forward to seeing what these coins go for. My opinion is only my own but I believe the rationale on some of the offer prices for these coins are just insane and, worse, without logic. I think it's an important discussion for us all to have.

Cant speak for the error coin but if you find a casas tenth below 1 BTC please let me know.  Would buy em at that price point all day.  1.55 btc is not too far fetch.  They have been selling in and around there for awhile now.

Why should the tenth be 15 times more expensive than other coins with similar mintage? Just because people want that much doesn't mean people should be paying it. I bought my tenth for BTC0.71.

If we want fair prices we have to agree to only give fair bids and only accept fair offers.

You do not multiply the markup times the face value. There is a 1BTC + premium for these coins. All Casascius silver coins command at a minimum of 1BTC+ of a premium. Take a look through previous sales and you will see the pricing trends.

[wheelz1200]

As you walk up the monetary amount the premium for the coin goes down, percentage wise.  The tenth and 25 btc piece percentage wise can't sell for the same.  If we have sales of 25btc cas coins at around 30 btc and we applied the percentage of premium that would put the tenth at around .12 btc.

You cant correlelate one with the other.  Latest sales will dictate and show that.  

[djjacket]

I will quote the venerable nubbins on this numismatic premium topic...

This is as good a time as any to remind people how numismatics are priced.

SALE PRICE = (FACE VALUE) + (NUMISMATIC VALUE) + (SELLER'S PREMIUM)

Notice the lack of multiplication symbols; statements such as "2x face" or "10x face" have no meaning and no place in numismatics.

The FACE VALUE for a Casascius coin would be the value of the BTC stored within, plus the spot value of any precious metals.

The NUMISMATIC VALUE is an absolute value based solely on the desirability of the coin. This generally correlates with mintage, age, and condition, but other factors can be at play here as well.

The SELLER'S PREMIUM varies from seller to seller, based on a number of factors including the seller's trustworthiness, care in packaging, supporting documentation or certifications, and other factors.

The biggest point to make here is that with all other things being equal, FACE VALUE and NUMISMATIC VALUE have no bearing on one another.

[Blazed]

Sold to djjacket

[djjacket]

Sold to djjacket

Couldn't pass up that beautiful 2011 coin!

[bitmarket.io]

congratz on the sale homie!!!

READ UR PM !! THX!! 

[snarlpill]

Personally, I think 1.55 BTC for an MS-66 graded Silver Casascius Tenth is a great price. Low mintage numbers, a .999 Ag Cas. round, and a pretty high grade for the type are all factored in. At that price I would almost guarantee (even if Bitcoin were to crash & burn) that the buyer will profit whenever he sells it on at any point in the future. These coins are famous, trailblazing, rare, & highly popular...  it is a seller's market. If you don't like the price, just move on because they will either sell at that price or not, and they did here as you can see.

Blazed knows the Casascius market pretty damn well; if you want to see unnecessarily high premiums go find the 25 BTC Casascius coin listed for 75 BTC on here...   Lol, I feel like his only hope is a random Chinese millionaire coming across that sale thread, but that's neither here nor there and I wish him luck with his sale.

@Possum577- Congrats on your purchase of a silver Casascius Tenth for 0.71 BTC. I agree with QuickSeller that is probably a record low price on the second market and that seller pretty much screwed himself for that price...

[Possum577]

You do not multiply the markup times the face value. There is a 1BTC + premium for these coins. All Casascius silver coins command at a minimum of 1BTC+ of a premium. Take a look through previous sales and you will see the pricing trends.

Blazed,

First, the multiple I reference is merely a way to compare prices across different coins - 1x face, 3x face, etc.

Second, it's arrogant (and a bit naive) of you to say that all silver coins command this exact amount of premium. What makes you the authority over pricing? Why should any of us make buying decisions on what you randomly declare on some thread?

The premium is what amount over face one wants to pay (or receive). The multiple is a way to compare that premium across different coins.

And finally, it's only MY opinion when I say that X over face value is too much. The market price is whatever anyone will pay for a coin at any given period in time. I respect the good discussion and all of you (don't let my sometimes-sharp-tongue make you believe otherwise!)

Quickseller, As for my purchase of the tenth for BTC0.71, i can share proof - how do I insert or paste an image to a post? My purchase wasn't made on the forum, but I can verify date, purchase price, and the fact that it's mine.

[Blazed]

You do not multiply the markup times the face value. There is a 1BTC + premium for these coins. All Casascius silver coins command at a minimum of 1BTC+ of a premium. Take a look through previous sales and you will see the pricing trends.

Blazed,

First, the multiple I reference is merely a way to compare prices across different coins - 1x face, 3x face, etc.

Second, it's arrogant (and a bit naive) of you to say that all silver coins command this exact amount of premium. What makes you the authority over pricing? Why should any of us make buying decisions on what you randomly declare on some thread?

The premium is what amount over face one wants to pay (or receive). The multiple is a way to compare that premium across different coins.

And finally, it's only MY opinion when I say that X over face value is too much. The market price is whatever anyone will pay for a coin at any given period in time. I respect the good discussion and all of you (don't let my sometimes-sharp-tongue make you believe otherwise!)

Quickseller, As for my purchase of the tenth for BTC0.71, i can share proof - how do I insert or paste an image to a post? My purchase wasn't made on the forum, but I can verify date, purchase price, and the fact that it's mine.

I was speaking from my limited experience with these coins and not for everyone. From what I have seen silver Casascius coins command those premiums...I could be wrong.

[Possum577]

You do not multiply the markup times the face value. There is a 1BTC + premium for these coins. All Casascius silver coins command at a minimum of 1BTC+ of a premium. Take a look through previous sales and you will see the pricing trends.

Blazed,

First, the multiple I reference is merely a way to compare prices across different coins - 1x face, 3x face, etc.

Second, it's arrogant (and a bit naive) of you to say that all silver coins command this exact amount of premium. What makes you the authority over pricing? Why should any of us make buying decisions on what you randomly declare on some thread?

The premium is what amount over face one wants to pay (or receive). The multiple is a way to compare that premium across different coins.

And finally, it's only MY opinion when I say that X over face value is too much. The market price is whatever anyone will pay for a coin at any given period in time. I respect the good discussion and all of you (don't let my sometimes-sharp-tongue make you believe otherwise!)

Quickseller, As for my purchase of the tenth for BTC0.71, i can share proof - how do I insert or paste an image to a post? My purchase wasn't made on the forum, but I can verify date, purchase price, and the fact that it's mine.

I was speaking from my limited experience with these coins and not for everyone. From what I have seen silver Casascius coins command those premiums...I could be wrong.

Cool, cool. As I said - I respect all of you and the great discussion (and disagreement at times.) It's our collective knowledge that makes the market more mature. And for the absolute record, I also believe that Casascius coins are a part of numismatic and bitcoin history. They deserve to command high values.

[Quickseller]

Blazed is right, all Casascius silver coins will fetch a premium of at least 1 BTC, and even that small of a premium is really a steal.

To embed an image into your post:

Code:

[img]http://link to your image[/img]

[Possum577]

Blazed is right, all Casascius silver coins will fetch a premium of at least 1 BTC, and even that small of a premium is really a steal.

To embed an image into your post:

Code:

[img]http://link to your image[/img]

Thanks for the start on embedding an image, the problem is my image is a file not a link. Can I still upload it?

[Quickseller]

Blazed is right, all Casascius silver coins will fetch a premium of at least 1 BTC, and even that small of a premium is really a steal.

To embed an image into your post:

Code:

[img]http://link to your image[/img]

Thanks for the start on embedding an image, the problem is my image is a file not a link. Can I still upload it?

upload it to imgur.com, it will even give you the BB code (as shown above) to embed he image

[Possum577]

Here's proof of my purchase of a BTC0.10 Casascius coin for BTC0.71. I paid Dollars for it, and at the time a bitcoin was selling for $595.



Since i'm posting a cropped screenshot of a webpage I wrote my screen name in the URL bar (like one would right their name on a piece of paper for a pic like this).

[snarlpill]

Comparing your purchase of a Casascius Tenth @ 0.71 BTC with a $595 Bitcoin price for $425 USD total, you paid approximately $64 more for yours than Blazed's current price (1.55 BTC with a $233 Bitcoin price = approx. $361 USD). So I think his price was definitely fair from a BTC/USD standpoint at least, especially considering yours was a raw coin and his is graded MS-66 (again a higher grade for the type, and there are costs added for grading). But as is true with all collectible coins/numismatic coins, the best market price is whatever a buyer is willing to pay. There will only ever be so many of those 2013 0.10 BTC silver Casascius coins in existence, never more, so I see no reason an individual would be willing to come off of one for cheap, especially since they have a history of appreciating in value over time (albeit a short history).

This is just my opinion though obviously, and I do enjoy a good discussion as well.

[monkeynuts]

The market prices are shifting all the time (and rarely down in BTC pricing), as market for each coin finds its feet and settles, and as stashed rolls get opened and provide some new 'liquidity' (like Camolists 2013 coins)

I recall both buying and selling 0.1's for this region. Graded at 64 and 65 as well. I cant recall whether it was .65, and .75, or .75 and .85. Now I couldnt get an ungraded coin at that, and certainly wouldnt sell one

In the end it was a different market, with a different BTC price. It was also a market that had the same number of coins, but less people interested in them. Now we still have the same number of coins, less available (as they are already in collections), and more people wanting coins. Price inevitably will rise, as interest increases.

(It is refreshing to see a lot of new enthusiasts recently ... Its not just me thinking that right ? Most of the old faces are still hanging in there as well !)

[snarlpill]

The market prices are shifting all the time (and rarely down in BTC pricing), as market for each coin finds its feet and settles, and as stashed rolls get opened and provide some new 'liquidity' (like Camolists 2013 coins)

I recall both buying and selling 0.1's for this region. Graded at 64 and 65 as well. I cant recall whether it was .65, and .75, or .75 and .85. Now I couldnt get an ungraded coin at that, and certainly wouldnt sell one

In the end it was a different market, with a different BTC price. It was also a market that had the same number of coins, but less people interested in them. Now we still have the same number of coins, less available (as they are already in collections), and more people wanting coins. Price inevitably will rise, as interest increases.

(It is refreshing to see a lot of new enthusiasts recently ... Its not just me thinking that right ? Most of the old faces are still hanging in there as well !)

Well summarized there, monkeynuts.

About the part I put in bold, I agree it is nice to see the interest in physical crypto coins remain steady and growing despite a declining Bitcoin price, and nice to see new members/Bitcoiners join in on the hobby (addiction)! Though recent sales of coins may be going a bit slower than before, there is also a much larger variety and total amount of new & second-market coins available nowadays than a couple years ago. I was slightly saddened to see fellow physical crypto coin enthusiasts selling off their collections recently (masterp, cyclops, miffman) as I thought they might be quitting the hobby altogether, only to see that they are still buying coins and refining their collections! I find it quite fun and have always collected coins a bit, love buying/selling/trading them, and hopefully my core collection goes down to my kids someday or gets sold for their college education  .

Off-Topic but Related: For a little while now I have thought about posting in the Meta section about the possibility of getting a sub-section of the "Goods" board created solely dedicated to the buying/selling/trading of physical cryptos and new releases, discussions, etc. If I wrote up that suggestion sometime, would any of you guys be down to pop in that thread and try to drum up some support behind it? If you are like me and frequently check the "Goods" section on here to scope out new coin threads & sales, I think it could be awesome.

[monkeynuts]

The market prices are shifting all the time (and rarely down in BTC pricing), as market for each coin finds its feet and settles, and as stashed rolls get opened and provide some new 'liquidity' (like Camolists 2013 coins)

I recall both buying and selling 0.1's for this region. Graded at 64 and 65 as well. I cant recall whether it was .65, and .75, or .75 and .85. Now I couldnt get an ungraded coin at that, and certainly wouldnt sell one

In the end it was a different market, with a different BTC price. It was also a market that had the same number of coins, but less people interested in them. Now we still have the same number of coins, less available (as they are already in collections), and more people wanting coins. Price inevitably will rise, as interest increases.

(It is refreshing to see a lot of new enthusiasts recently ... Its not just me thinking that right ? Most of the old faces are still hanging in there as well !)

Well summarized there, monkeynuts.

About the part I put in bold, I agree it is nice to see the interest in physical crypto coins remain steady and growing despite a declining Bitcoin price, and nice to see new members/Bitcoiners join in on the hobby (addiction)! Though recent sales of coins may be going a bit slower than before, there is also a much larger variety and total amount of new & second-market coins available nowadays than a couple years ago. I was slightly saddened to see fellow physical crypto coin enthusiasts selling off their collections recently (masterp, cyclops, miffman) as I thought they might be quitting the hobby altogether, only to see that they are still buying coins and refining their collections! I find it quite fun and have always collected coins a bit, love buying/selling/trading them, and hopefully my core collection goes down to my kids someday or gets sold for their college education  .

Off-Topic but Related: For a little while now I have thought about posting in the Meta section about the possibility of getting a sub-section of the "Goods" board created solely dedicated to the buying/selling/trading of physical cryptos and new releases, discussions, etc. If I wrote up that suggestion sometime, would any of you guys be down to pop in that thread and try to drum up some support behind it? If you are like me and frequently check the "Goods" section on here to scope out new coin threads & sales, I think it could be awesome.

I seem to recall OgNasty was going to ask the mods for a dedicated section. (Og ?) I have to be honest with you, I think we could do with our own goods, and own auctions sections. There is no doubt we are our own sub community. (does that make us even nerdier .... ?). I only really look at Physical crypto elements on here. Separate sections would be really useful.