Large Casascius Coins

[steelboy]

How would anyone even attempt to sell a 5, 10 or 25 BTC coin now? You would need an armoured truck. 

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[wheelz1200]

How would anyone even attempt to sell a 5, 10 or 25 BTC coin now? You would need an armoured truck. 

Well... if the price continues to rise, I would imagine there would be an increase in in-person trades.
Considering the small premium this would incur, it would probably be one of the safer ways to conduct a transaction of this size.

Depending if the premium got small enough one would think peeling would be an option for some, and lower the in tact mintages so less out there.  Will be interesting to see it played out

[Lesbian Cow]

I sold a Cas 5 a few months ago - buyer sent btc to minerjones, i shipped cas coin registered usps to minerjones, minerjones sent btc to me and bitnickel to buyer.  Cool as the other side of the pillow...

[Hhampuz]

I sold a Cas 5 a few months ago - buyer sent btc to minerjones, i shipped cas coin registered usps to minerjones, minerjones sent btc to me and bitnickel to buyer.  Cool as the other side of the pillow...

That's an escrow service that I'd like to see more of. The only issue with this is: if the coin arrives to mj like in this case and then he gives you the funds and ships the coin to the buyer, who is liable if the package gets lost on the new path to the buyer? Mj? You? Buyer? That's something that would have to be worked out. Unless someone would offer an escrow where they personally deliver it for you, but that would perhaps be down the road when BTC is at $10k+ and the distance is in the realm of sanity.

[TMAN]

The next level is selling these via Southeby's and other high-end auction houses. Which can be done very privately, but of course those houses usually take 5-10% from the sale price...I can see this being rejected quickly by most if not all sellers on this site!

It will be a "coming of age" day when one of these coins (probably a somewhat tarnished half brass) comes up for sale in a major auction house.

Hell, folks like MinerJones and Blazed (and so many others here) would need a Ed Norton in the Italian Job type transportation scheme. Three brinks trucks, three different routes, unknown delivery destination, helicopter monitoring, etc.

lets get those useless posts in for the sig campaign...

[gentlemand]

Does anyone here monitor the wider numanistic world?

Have any of these coins crossed their radar or is it still a hopeless obscurity as far as they're concerned?

If I did have a funded 1000 BTC coin or bar I've no idea what I'd do with it.

[Lesbian Cow]

The next level is selling these via Southeby's and other high-end auction houses. Which can be done very privately, but of course those houses usually take 5-10% from the sale price...I can see this being rejected quickly by most if not all sellers on this site!

It will be a "coming of age" day when one of these coins (probably a somewhat tarnished half brass) comes up for sale in a major auction house.

Hell, folks like MinerJones and Blazed (and so many others here) would need a Ed Norton in the Italian Job type transportation scheme. Three brinks trucks, three different routes, unknown delivery destination, helicopter monitoring, etc.

You are an incredible source of misinformation.  The top of the stack of numismatic coins are Heritage Auctions and Stacks Bowers.  They both use a Buyer's Premium - Heritage is 17.5% - The buyer pays the premium, the seller nets the hammer price.

Here is a coin I am watching - you can see the BP on the page.

https://coins.ha.com/itm/colonials/1787-cent-massachusetts-cent-arrows-in-left-talon-ms65-brown-ngc-ryder-4-d-w-6110-high-r3/a/1256-3509.s?ic4=ListView-ShortDescription-071515

I would love to see Casascius coins show up at auction houses such as these but in my opinion that day is so far away these companies will no longer exist.

[zanzibar]

The next level is selling these via Southeby's and other high-end auction houses. Which can be done very privately, but of course those houses usually take 5-10% from the sale price...I can see this being rejected quickly by most if not all sellers on this site!

It will be a "coming of age" day when one of these coins (probably a somewhat tarnished half brass) comes up for sale in a major auction house.

Hell, folks like MinerJones and Blazed (and so many others here) would need a Ed Norton in the Italian Job type transportation scheme. Three brinks trucks, three different routes, unknown delivery destination, helicopter monitoring, etc.

You are an incredible source of misinformation.  The top of the stack of numismatic coins are Heritage Auctions and Stacks Bowers.  They both use a Buyer's Premium - Heritage is 17.5% - The buyer pays the premium, the seller nets the hammer price.

Here is a coin I am watching - you can see the BP on the page.

https://coins.ha.com/itm/colonials/1787-cent-massachusetts-cent-arrows-in-left-talon-ms65-brown-ngc-ryder-4-d-w-6110-high-r3/a/1256-3509.s?ic4=ListView-ShortDescription-071515

I would love to see Casascius coins show up at auction houses such as these but in my opinion that day is so far away these companies will no longer exist.

lol, I was just about to post a link to HA, you beat me to it. I've bought a few things from HA and have thought for sure it's only a matter of time before we see Casascius coins offered on there. If you think about it, it's really a good way for someone to hold Bitcoin that isn't tech savvy and doesn't mind premiums, which is a majority of HA bidders.

[Lesbian Cow]

The next level is selling these via Southeby's and other high-end auction houses. Which can be done very privately, but of course those houses usually take 5-10% from the sale price...I can see this being rejected quickly by most if not all sellers on this site!

It will be a "coming of age" day when one of these coins (probably a somewhat tarnished half brass) comes up for sale in a major auction house.

Hell, folks like MinerJones and Blazed (and so many others here) would need a Ed Norton in the Italian Job type transportation scheme. Three brinks trucks, three different routes, unknown delivery destination, helicopter monitoring, etc.

You are an incredible source of misinformation.  The top of the stack of numismatic coins are Heritage Auctions and Stacks Bowers.  They both use a Buyer's Premium - Heritage is 17.5% - The buyer pays the premium, the seller nets the hammer price.

Here is a coin I am watching - you can see the BP on the page.

https://coins.ha.com/itm/colonials/1787-cent-massachusetts-cent-arrows-in-left-talon-ms65-brown-ngc-ryder-4-d-w-6110-high-r3/a/1256-3509.s?ic4=ListView-ShortDescription-071515

I would love to see Casascius coins show up at auction houses such as these but in my opinion that day is so far away these companies will no longer exist.

lol, I was just about to post a link to HA, you beat me to it. I've bought a few things from HA and have thought for sure it's only a matter of time before we see Casascius coins offered on there. If you think about it, it's really a good way for someone to hold Bitcoin that isn't tech savvy and doesn't mind premiums, which is a majority of HA bidders.

You have a very good point regarding Casascius coins being a comfortable way for more traditional coin collectors to get in on bitcoin - Also another good point on HA bidders not afraid to pay a premium - my link is to a penny going for 20k usd plus - oh my!

[therealNano]

How would anyone even attempt to sell a 5, 10 or 25 BTC coin now? You would need an armoured truck. 

I just purchased a 10btc coin a couple weeks ago. Was shipped USPS w/ 25k insurance. Cost $60.

[therealNano]

How would anyone even attempt to sell a 5, 10 or 25 BTC coin now? You would need an armoured truck. 

I just purchased a 10btc coin a couple weeks ago. Was shipped USPS w/ 25k insurance. Cost $60.

Yes, but once we are over $2500 per BTC this would no longer cover coins like this or larger...

Why not? USPS does up to 50k for registered mail..

[HabBear]

How would anyone even attempt to sell a 5, 10 or 25 BTC coin now? You would need an armoured truck. 

I just purchased a 10btc coin a couple weeks ago. Was shipped USPS w/ 25k insurance. Cost $60.

Yes, but once we are over $2500 per BTC this would no longer cover coins like this or larger...

Why not? USPS does up to 50k for registered mail..

According to the USPS website insurance coverage for International shipments is maxed out at just under $2500.

There is quite the international audience here, so the insurance available via USPS wouldn't be sufficient. But for US domestic shipping the $50,000 would work...better hurry though, these coin values are on the rise!

I'm sure FedEx or DHL have better insurance options for International shipments, it likely costs more too.

[Hhampuz]

How would anyone even attempt to sell a 5, 10 or 25 BTC coin now? You would need an armoured truck. 

I just purchased a 10btc coin a couple weeks ago. Was shipped USPS w/ 25k insurance. Cost $60.

Yes, but once we are over $2500 per BTC this would no longer cover coins like this or larger...

Why not? USPS does up to 50k for registered mail..

According to the USPS website insurance coverage for International shipments is maxed out at just under $2500.

There is quite the international audience here, so the insurance available via USPS wouldn't be sufficient. But for US domestic shipping the $50,000 would work...better hurry though, these coin values are on the rise!

I'm sure FedEx or DHL have better insurance options for International shipments, it likely costs more too.

Even with their insurance stuff, would you really feel safe sending such a package? Might be speaking only for myself but if I was going to send/receive a $50k package for example, I'd prefer personal drop-off. Which brings us back to; will there be such an escrow service in the future? Would be fun to see it.

I saw some idea where people get packages in their luggage to move it supercheap worldwide but I'm not too sure about that method. Lol

[dazedfool]

I made a deal with an internet stranger for ~30btc. We're going to have a fine meal and punch some innocent woodland animals while we conduct business. Oh an he is flying out to meet me in person. Mail is for suckers.

[cryptoheadd]

Even with their insurance stuff, would you really feel safe sending such a package? Might be speaking only for myself but if I was going to send/receive a $50k package for example, I'd prefer personal drop-off. Which brings us back to; will there be such an escrow service in the future? Would be fun to see it.

I saw some idea where people get packages in their luggage to move it supercheap worldwide but I'm not too sure about that method. Lol

I agree. For international transactions, I would prefer picking up a $50k package considering the cost of shipping and the damn custom duty. If you get it insured by declaring the value as $50k, you'd have to pay a custom duty of $20k (40%) along with a 5% handling fee here in India.

So, the package will cost you more than $70k not even considering the "extra" charges by the government. (If It ever gets delivered)

Cheaper (and safer) to just go and pick it up IMO.

[Hhampuz]

I made a deal with an internet stranger for ~30btc. We're going to have a fine meal and punch some innocent woodland animals while we conduct business. Oh an he is flying out to meet me in person. Mail is for suckers.

For a 30btc deal that is definitely the way to go.

I'm also starting to feel that mail Sucks (although felt it a while). There's taxes, vat charges on precious metals and the part of not knowing where the f your package is that you've waited for a week now..

So yeah, I've heard others doing the same when making a deal, although it might suck going to US from EU just to pick up or drop off a package it could be considered a small vacation. Flight tickets have gone down in price heavily lately (especially here in Sweden.

[Hhampuz]

Even with their insurance stuff, would you really feel safe sending such a package? Might be speaking only for myself but if I was going to send/receive a $50k package for example, I'd prefer personal drop-off. Which brings us back to; will there be such an escrow service in the future? Would be fun to see it.

I saw some idea where people get packages in their luggage to move it supercheap worldwide but I'm not too sure about that method. Lol

I agree. For international transactions, I would prefer picking up a $50k package considering the cost of shipping and the damn custom duty. If you get it insured by declaring the value as $50k, you'd have to pay a custom duty of $20k (40%) along with a 5% handling fee here in India.

So, the package will cost you more than $70k not even considering the "extra" charges by the government. (If It ever gets delivered)

Cheaper (and safer) to just go and pick it up IMO.

Exactly, and India is just one country of many that has these crazy charges where you end up losing money for RECEIVING a package. Pretty insane.

I definitely think it's time to see a shift in how we conduct business, as it's not sustainable continuing on this path. Either people will start meeting up personally or mailing services really needs some reinvention. Doubt that'll happen though.

Which reminds me, I might come over to India soon, could bring some stuff with me

[coin@coin]

Even with their insurance stuff, would you really feel safe sending such a package? Might be speaking only for myself but if I was going to send/receive a $50k package for example, I'd prefer personal drop-off. Which brings us back to; will there be such an escrow service in the future? Would be fun to see it.

I saw some idea where people get packages in their luggage to move it supercheap worldwide but I'm not too sure about that method. Lol

I agree. For international transactions, I would prefer picking up a $50k package considering the cost of shipping and the damn custom duty. If you get it insured by declaring the value as $50k, you'd have to pay a custom duty of $20k (40%) along with a 5% handling fee here in India.

So, the package will cost you more than $70k not even considering the "extra" charges by the government. (If It ever gets delivered)

Cheaper (and safer) to just go and pick it up IMO.

Oh man that hurts didn't think it was that bad. I feel for ya. 

[cryptoheadd]

Which reminds me, I might come over to India soon, could bring some stuff with me

I'll keep that in mind.

Oh man that hurts didn't think it was that bad. I feel for ya. 

Haha, it's freaking crazy...
We have to pay a duty of 40% on items above INR 2000 (~$30) and 10% below that. (That's the policy)

Most of the times, customs don't care enough to charge a duty, which is good.

[HabBear]

According to the USPS website insurance coverage for International shipments is maxed out at just under $2500.

There is quite the international audience here, so the insurance available via USPS wouldn't be sufficient. But for US domestic shipping the $50,000 would work...better hurry though, these coin values are on the rise!

I'm sure FedEx or DHL have better insurance options for International shipments, it likely costs more too.

Even with their insurance stuff, would you really feel safe sending such a package? Might be speaking only for myself but if I was going to send/receive a $50k package for example, I'd prefer personal drop-off. Which brings us back to; will there be such an escrow service in the future? Would be fun to see it.

No, not at all. Would never feel safe sending such a package. It amazes me how comfortable people are sending their Cas coins to ANACS for grading when they know the return trip will be completely uninsured.

I made a deal with an internet stranger for ~30btc. We're going to have a fine meal and punch some innocent woodland animals while we conduct business. Oh an he is flying out to meet me in person. Mail is for suckers.

Dazed, you should let people on the forum know when your meeting is if we don't see that toothy grin the next day we'll know to contact the authorities. The act of finding innocent woodland animals puts in you in a location where guilty shit happens in the woods! Hahaha, kidding. I'm sure this stranger is a normal gent.