How does one redeem a Casascius coin?
Have you done it before? Let's hear stories...
My understanding is that you simply peel the hologram and the private key will be printed underneath. You would then import the private key the same way you would any other private key, although you would need to manually type the private key into your wallet software.
As a general rule redeeming a physical coin is going to significantly degrade the value of the coin, and you would be able to get more out of the coin by selling it as unredeemed verses redeeming a coin then selling it as a redeemed coin.