1BTC Casascius bitcoin sells for $7100

[bitcoinwhoswho]

http://bitcoinwhoswho.com/blog/2017/06/06/1btc-casascius-bitcoin-sells-for-usd7100/

A mint 2011 series 1 Casascius physical bitcoin sold for USD $7,100 on eBay yesterday.

First series Casascius coins are highly sought after by collectors.

During the last bitcoin price spike in 2013 (to $1250) many changed hands on eBay for about ~USD$3,000.

Yesterday's transaction represents a ~250% premium over current prices.

[pearlmen]

http://bitcoinwhoswho.com/blog/2017/06/06/1btc-casascius-bitcoin-sells-for-usd7100/

A mint 2011 series 1 Casascius physical bitcoin sold for USD $7,100 on eBay yesterday.

First series Casascius coins are highly sought after by collectors.

During the last bitcoin price spike in 2013 (to $1250) many changed hands on eBay for about ~USD$3,000.

Yesterday's transaction represents a ~250% premium over current prices.

I believe its because the type of metal is a valuable one which makes it much more valuable than its face value which I dont have any issue against in which the same thing would go for if some one could have a raw gold 1btc. For me personally I dont see any prudency in buying such commodity as the case maybe where I would pay more than enough for the face value.

[cellard]

http://bitcoinwhoswho.com/blog/2017/06/06/1btc-casascius-bitcoin-sells-for-usd7100/

A mint 2011 series 1 Casascius physical bitcoin sold for USD $7,100 on eBay yesterday.

First series Casascius coins are highly sought after by collectors.

During the last bitcoin price spike in 2013 (to $1250) many changed hands on eBay for about ~USD$3,000.

Yesterday's transaction represents a ~250% premium over current prices.

Good post, I like to learn about stuff like this. It shows the extra collector value of alternative mediums of storage for BTC. In this case most of the extra comes from both the artistic value of the design and the date of the coin. I wonder for how much will the original 1BTC Casascius edition will go in 2020. If there are $10,000 predictions for regular 1 BTC, these coins will go for huge values.

[freedomno1]

http://bitcoinwhoswho.com/blog/2017/06/06/1btc-casascius-bitcoin-sells-for-usd7100/

A mint 2011 series 1 Casascius physical bitcoin sold for USD $7,100 on eBay yesterday.

First series Casascius coins are highly sought after by collectors.

During the last bitcoin price spike in 2013 (to $1250) many changed hands on eBay for about ~USD$3,000.

Yesterday's transaction represents a ~250% premium over current prices.

Not bad for an auction bid since the coins have a classical value to them
I wonder what it will be in a few more years.

[tittensor]

http://bitcoinwhoswho.com/blog/2017/06/06/1btc-casascius-bitcoin-sells-for-usd7100/

A mint 2011 series 1 Casascius physical bitcoin sold for USD $7,100 on eBay yesterday.

First series Casascius coins are highly sought after by collectors.

During the last bitcoin price spike in 2013 (to $1250) many changed hands on eBay for about ~USD$3,000.

Yesterday's transaction represents a ~250% premium over current prices.

Good post, I like to learn about stuff like this. It shows the extra collector value of alternative mediums of storage for BTC. In this case most of the extra comes from both the artistic value of the design and the date of the coin. I wonder for how much will the original 1BTC Casascius edition will go in 2020. If there are $10,000 predictions for regular 1 BTC, these coins will go for huge values.

Well, imagine when the price of Bitcoin is $ 10,000 / BTC and compared to 2011,, 1 Casasius Bitcoin can up to 100.000$ in that time lol

[odolvlobo]

I believe its because the type of metal is a valuable one which makes it much more valuable than its face value which I dont have any issue against in which the same thing would go for if some one could have a raw gold 1btc. For me personally I dont see any prudency in buying such commodity as the case maybe where I would pay more than enough for the face value.

The metal is brass. The value is in the desire to own one of the first physical bitcoins ever made. If you aren't a collector, then there wouldn't be much value in that for you.

[gentlemand]

I believe its because the type of metal is a valuable one which makes it much more valuable than its face value

Er, no. It was made out of brass by a car wash token company.

The value comes from the rarity, though it actually isn't that rare compared to other ones. It was the first though and many will have been abused as they were worth about $20-30 when new.

[gentlemand]

It is also the physical representation of Bitcoin that everyone knows, I think there are special gold and silver minted ones as well.

Yes. I have a couple of silver ones. Prettier but never latched on to by the media in the same way. As you say, this is what many people associate with Bitcoin rightly or wrongly. They were launched to increase its visibility. It certainly worked.

[coolcoinz]

I believe its because the type of metal is a valuable one which makes it much more valuable than its face value

Er, no. It was made out of brass by a car wash token company.

The value comes from the rarity, though it actually isn't that rare compared to other ones. It was the first though and many will have been abused as they were worth about $20-30 when new.

I wouldn't pay that much above the Bitcoin value for a brass coin, but on the other hand people are collecting bottle caps and other strange stuff, so who am I to judge.
I'm sure the buyer/collector is happy with it.
It's not a bad investment, because as time goes buy it gains its pure Bitcoin value and collectible value. Double win

[Minecache]

Seems cheap.

[hermanhs09]

That's pretty crazy. I really need to get my hands on one of those before it goes even higher lol.

[gentlemand]

That's pretty crazy. I really need to get my hands on one of those before it goes even higher lol.

Get yours here - https://bitcointalk.org/index.php?board=217.0

Premiums in Bitcoin have been falling recently, but look to be picking up. I really can't see them holding up if the dollar price goes seriously high.

[Lutpin]

Yesterday's transaction represents a ~250% premium over current prices.

Think that's a high premium?
https://bitcointalk.org/index.php?topic=1933379.0
Fun fact: It's empty.


Interesting to see non-collectors discuss collectors items/their premiums.

[digicoinuser]

Unfortunately people can troll ebay auctions by bidding on items and not paying for them, sellers are unable to leave negative feedback for buyers. 

For the seller, I'd hope the buyer follows through but I'll be keeping an eye out to see if this is relisted.

[NUFCrichard]

I don't get the numismatic value of the coin. I mean ok, it was an early Bitcoin, it looks nice but...
That seems like it would be worth maybe a $200 premium, but not a $5000 premium!

I think it is just a sign that early adopters have too much money now! People have lost grip of reality and think that 3.5BTC a reasonable price is for 1BTC with a few dollars worth of metal.

[HabBear]

http://bitcoinwhoswho.com/blog/2017/06/06/1btc-casascius-bitcoin-sells-for-usd7100/

A mint 2011 series 1 Casascius physical bitcoin sold for USD $7,100 on eBay yesterday.

This price equals ~BTC2.5, which is on par for historical purchases for this series coin, but is a bit higher than what these coins are selling for in the Collectibles section of this forum. This coin has an error on it, Casascius is spelled "Casacius" so it's a bit sought after.

The more rare 2011 series 2 Casascius coin is significantly more rare, doesn't have the error, and should command a price of at least BTC2.5 and higher.

I think your point is that the price is high, and most Casascius coin offers on eBay are extremely high, not realistic high, but those are just buy it now prices for ridiculous amounts. It sounds like this one was a proper auction. I'm glad to see these coins trading hands outside of Bitciontalk! I bet someone on this forum was the buyer and the seller!


TL,DR: This>>>

Interesting to see non-collectors discuss collectors items/their premiums.

[LilibethSantos]

Whoever bought that must obviously care about the novelty and collectable value. Otherwise, I hope it wasn't some poor fool desperate to jump on the Bitcoin gravy train and can't google the market value of 1 BTC.

[odolvlobo]

It is a sad fact that people have bought physical bitcoins in order to redeem them.

[eaLiTy]

Yes. I have a couple of silver ones. Prettier but never latched on to by the media in the same way. As you say, this is what many people associate with Bitcoin rightly or wrongly. They were launched to increase its visibility. It certainly worked.

It is good to hear that you are holding some coins but is it safe to say that those private keys are secure,i can understand the sentimental value of these coins but selling one bitcoin Casacius bitcoin for $7100 is just crazy because if i remember correctly it was revealed during defcon that it is susceptible to physical attack as they showed how to reveal the keys without revealing any tampering signs,i am not sure whether they made any changes after that,just commenting because of the crazy rate it got sold.

[gentlemand]

It is good to hear that you are holding some coins but is it safe to say that those private keys are secure,i can understand the sentimental value of these coins but selling one bitcoin Casacius bitcoin for $7100 is just crazy because if i remember correctly it was revealed during defcon that it is susceptible to physical attack as they showed how to reveal the keys without revealing any tampering signs,i am not sure whether they made any changes after that,just commenting because of the crazy rate it got sold.

Got them a long time ago, and one direct from Casascius one week before he shut himself down.

What is a more relevant question is how durable the holograms, printing and glue holding the hologram down is. I wonder whether he foresaw whether they would become so valuable.