Casascius 2011 Error UNGRADED in Ebay $10,000.00

[Fattcatt]

A 2011 ungraded series 1 Error coin in Ebay is at $10,000.00 with 2.5 hours to go left.....the suspense is killing me!!!

[owlcatz]

A 2011 ungraded series 1 Error coin in Ebay is at $10,000.00 with 2.5 hours to go left.....the suspense is killing me!!!

Oh shit. you forgot the link!!  

[dazedfool]

http://www.ebay.com/itm/172724843860 

These are hot potatoes on eBay right now

[gentlemand]

Whether the buyer actually stumps up the money is a different matter.

I've had friends selling big buck items on there that were driven up. When the original winner chipped there was a marked lack of enthusiasm from the second chance offer people.

[Blazed]

If anyone wants one of those graded MS-68 for that price...hit me up!

[dazedfool]

If anyone wants one of those graded MS-68 for that price...hit me up!

Dude throw it on eBay and ask 15K  

[Fattcatt]

Hey Dazed, thanks for posting that link....I got too excited...

[Fattcatt]

Anyone else notice thats theres a "nick" around the 11:00 position, on the hologram side?

[therealNano]

Makes me tempted to throw the 10 BTCer on there and ask $50k.

[welshcollectibles]

Whoever is selling the coin needs to be careful of a credit card chargeback.  Paypal will always back the buyer and the chargeback can happen up to 90 days after the sale.  By then positive feedback is often left.  I've been scammed a couple of times as a seller myself especially when the item goes abroad and there is little risk of the buyer being taken to court.

[dazedfool]

Whoever is selling the coin needs to be careful of a credit card chargeback.  Paypal will always back the buyer and the chargeback can happen up to 90 days after the sale.  By then positive feedback is often left.  I've been scammed a couple of times as a seller myself especially when the item goes abroad and there is little risk of the buyer being taken to court.

Yep that is the risk of ebay, but sometimes the profits are worth the danger...

Hammer strikes on this coin at 10100 to a buyer with 28 feedback

[hybridsole]

Whoever is selling the coin needs to be careful of a credit card chargeback.  Paypal will always back the buyer and the chargeback can happen up to 90 days after the sale.  By then positive feedback is often left.  I've been scammed a couple of times as a seller myself especially when the item goes abroad and there is little risk of the buyer being taken to court.

Yep that is the risk of ebay, but sometimes the profits are worth the danger...

Hammer strikes on this coin at 10100 to a buyer with 28 feedback

I'm curious what a seller can do to prevent a scenario like this.  Let's imagine the seller has several hundred positive transactions going back over a decade. A buyer comes in and purchases this coin while having very limited history on eBay. The seller takes extra precautions by detailing the packing/shipping process with photos, uses registered mail and insures the item for $10K, and clearly makes this case to paypal. Do they "always back the buyer" in this situation?

[zekoroger]

Its really risky selling on EBAY, alot possible bad and fucked up scenarios what buyer can done.

Only possible prevent: ship after 90 days

[gentlemand]

Yep that is the risk of ebay, but sometimes the profits are worth the danger...

Hammer strikes on this coin at 10100 to a buyer with 28 feedback

Every single time I've sniffed around anything relating to crypto on Ebay it was scammy. I seriously doubt this would be any different. There's no bleedin' way I'd ever sell via Paypal. It would have to be bank transfer and even then I'd be wondering.

This isn't allowed on Ebay UK. It's classifieds only.

[hephaist0s]

Why are the premiums higher on eBay? Is it just ignorance/lack of access to the market here? I'd always rather sell here, but the markup on some items on eBay is very tempting. Yes, I understand the chargeback risk. Thoughts?

[dazedfool]

Why are the premiums higher on eBay? Is it just ignorance/lack of access to the market here? I'd always rather sell here, but the markup on some items on eBay is very tempting. Yes, I understand the chargeback risk. Thoughts?

Plenty of reasons why premiums are high on ebay: very limited supply of cas coins, people don't know this forum exists, people are unwilling to deal with total internet strangers (ebay is "safe"), some people just have more money than good sense...

It is tempting. I've bought and sold on ebay many many times. In fact I just sold a 2013 brass 1btc for 6000usd on ebay. Immedately turned the net back into ~2btc. I accept the risk for the profit, and there are several other sellers that do as well. I'm sure if more people jumped on the ebay boat, the premiums would go down. So please do not sell there.   

Yep that is the risk of ebay, but sometimes the profits are worth the danger...

Hammer strikes on this coin at 10100 to a buyer with 28 feedback

Every single time I've sniffed around anything relating to crypto on Ebay it was scammy. I seriously doubt this would be any different. There's no bleedin' way I'd ever sell via Paypal. It would have to be bank transfer and even then I'd be wondering.

This isn't allowed on Ebay UK. It's classifieds only.

Technically these are not allowed on ebay US either (outside of classified only). Enforcement is lax and subjective.

[chronicsky]

I fell like i sold mine for super low

Whoever is selling the coin needs to be careful of a credit card chargeback.  Paypal will always back the buyer and the chargeback can happen up to 90 days after the sale.  By then positive feedback is often left.  I've been scammed a couple of times as a seller myself especially when the item goes abroad and there is little risk of the buyer being taken to court.

Yep that is the risk of ebay, but sometimes the profits are worth the danger...

Hammer strikes on this coin at 10100 to a buyer with 28 feedback

I'm curious what a seller can do to prevent a scenario like this.  Let's imagine the seller has several hundred positive transactions going back over a decade. A buyer comes in and purchases this coin while having very limited history on eBay. The seller takes extra precautions by detailing the packing/shipping process with photos, uses registered mail and insures the item for $10K, and clearly makes this case to paypal. Do they "always back the buyer" in this situation?

If i know right , given proper proof of delivery and all - chargeback shouldn't happen but well ebay sucks with there fees and their responsibility towards seller, so we never know..

[wheelz1200]

Ive always thought about it, but my luck.....first time im getting the scammy buyer i know it.  Even if i end up winning it will be months of bs i got to go through.  Probably over cautious but i know my luck.

[hephaist0s]

Ive always thought about it, but my luck.....first time im getting the scammy buyer i know it.  Even if i end up winning it will be months of bs i got to go through.  Probably over cautious but i know my luck.

Yup. Back in the day, I sold one of my BFL miners for $3700 on eBay, but it was some college kid and he said it didn't work right... of course it did, it worked fine before I sent it, and after I accepted it back for a full refund it still worked fine. But I was terrified of getting a negative rating. He was just an idiot, or just as likely, had no idea what he was doing. That's why he paid so much for it. I've been very wary of eBay for crypto ever since. The whole thing was a waste of time.

But still -- crypto coins command a higher premium on eBay. It's hard to look away.

[HabBear]

The $10,100 sale price equals 3.70BTC, this brings back a price for this coin that we haven't seen in a year or more! (I'd say 2015 but can't recall proof)

Whoever is selling the coin needs to be careful of a credit card chargeback.  Paypal will always back the buyer and the chargeback can happen up to 90 days after the sale.  By then positive feedback is often left.  I've been scammed a couple of times as a seller myself especially when the item goes abroad and there is little risk of the buyer being taken to court.

How would the seller get screwed if there was a credit card chargeback? The credit card company is reimbursing their cardholder (the buyer) but isn't guaranteed they can collect from the merchant (paypal and the seller). Now paypal may want to charge the seller for the chargeback but the seller can separate all means for paypal to do that. And there's no legal grounds to sue the seller if the seller did in fact deliver the coin as promised.

I've bought Casascius from eBay and have had no problems, I also wasn't spending 10 large (or a measly 3BTC)!