cletus815 (OP)
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Activity: 67
Merit: 10
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May 23, 2013, 11:43:17 PM |
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450 of these 10 BTC silver coins were made. Casascius has stated that there is about an even split of the silver BTC logo coins and hand-painted gold BTC logo coins. This auction is for the silver variety. I have never opened the case that the coin came in so it is still in pristine condition. The firstbit is 1AgYKnso which can be verified untouched at http://casascius.uberbills.com/?address=1AgYKnsoKJBZQLWFNaXzprSgxQznRbe39JI have included 3 pictures in this album http://imgur.com/a/SJL0S along with another which shows the coin and my forum name to prove this coin is mine. Bidding starts at 15 BTC and bids must be a minimum of .1 BTC increments. Please bid in this thread. The auction will end at 11PM GMT on May 28th. To prevent any auction sniping there will be a 10 minute window after the final bid to allow for additional bids (a bid at 10:58PM will result in the auction ending at 11:08PM. An additional bid at 11:05PM will result in the auction ending at 11:15PM) I will escrow as long as all fees are paid by the buyer. |
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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cletus815 (OP)
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Activity: 67
Merit: 10
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May 23, 2013, 11:54:19 PM |
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This should be the auction end timer (barring any last minute bids)
Timer removed. End time: 2013-05-28+23:00:00UTC
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Nightowlace
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May 25, 2013, 05:16:15 PM |
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If nobody bids on this auction I will give you 10.5BTC for it and pay for shipping to US (I don't know where you are located)
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Tirapon
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May 26, 2013, 03:28:25 PM |
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I'll start with 15 then
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PsychoticBoy
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Activity: 1890
Merit: 1010
Parental Advisory Explicit Content
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May 26, 2013, 09:00:46 PM |
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15.2
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Tirapon
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May 27, 2013, 07:26:11 PM |
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15.4
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Nightowlace
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May 27, 2013, 07:47:09 PM |
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Lets cut to the chase here
I bid 16.2 BTC
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Exoskeleton
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May 27, 2013, 07:51:58 PM |
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I have always been interested in the Casascius coins but I don't understand why this one would sell for over 50% its real value. I can see why this coin is worth more than 10BTC, and I want to buy one, but paying $150 for a $100 bill is a bit crazy to me. I understand a 10-15% mark-up but 50% or more seems a bit high to me. Im all for Casascius coins and I was looking to buy a few back at the start, but I just would like to know why they get bid up this high before I can consider buying one again.
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DM90
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May 27, 2013, 08:07:36 PM |
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It's because they are rare. I paid 100 btc for 30 1 BTC coins and have made a good profit on them even though I paid over 200% markup.
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Exoskeleton
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May 27, 2013, 08:19:49 PM |
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It's because they are rare. I paid 100 btc for 30 1 BTC coins and have made a good profit on them even though I paid over 200% markup.
Wow. Like a museum piece then. I used to own a bunch of antiques and I like the idea that bitcoin will someday have its own form of those. This just seems too soon in bitcoins history for a collectors item. I could very well be wrong based on the response of bidders so far. Its the 200% mark-up I don't understand I guess. Why so serious? |
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Nightowlace
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May 27, 2013, 08:28:05 PM |
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It's because they are rare. I paid 100 btc for 30 1 BTC coins and have made a good profit on them even though I paid over 200% markup.
Wow. Like a museum piece then. I used to own a bunch of antiques and I like the idea that bitcoin will someday have its own form of those. This just seems too soon in bitcoins history for a collectors item. I could very well be wrong based on the response of bidders so far. Its the 200% mark-up I don't understand I guess. Why so serious? 1 it is very rare 2 it may not be produced any longer 3 it is a good store of value. Today you pay 16.2 BTC ($2106) if/when BTC hits $200, $300, even $500 each your coin that you paid $2100 for is worth $2,000-$5,000 just in BTC value plus the premium for it being so rare. |
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ixne
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May 27, 2013, 09:08:36 PM |
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3 it is a good store of value. Today you pay 16.2 BTC ($2106) if/when BTC hits $200, $300, even $500 each your coin that you paid $2100 for is worth $2,000-$5,000 just in BTC value plus the premium for it being so rare.
I generally agree, although consider that since this coin is priced in bitcoin, those x number of coins you paid over the stock 10 value would also have been worth a lot more, possibly more than someone is willing in the future to pay for a collectible coin. There are only a handful of fiat or ancient coins that command 10,000+ USD. Then again, if crypto currency truly breaks into the mainstream over the next few decades I wouldn't be surprised if those remaining intact, handmade Casascius coins reach "priceless" status - even if bitcoin ends up being replaced. The problem then would be dealing with counterfeits, as I don't see a good way of distinguishing a good counterfeit from a real coin without opening it. |
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Tirapon
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May 27, 2013, 09:20:21 PM |
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16.3
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monkeynuts
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Activity: 1251
Merit: 1259
MONKEYNUTS
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May 28, 2013, 09:18:46 PM |
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16.4
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PsychoticBoy
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Activity: 1890
Merit: 1010
Parental Advisory Explicit Content
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May 28, 2013, 09:22:07 PM |
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16.5
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monkeynuts
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Activity: 1251
Merit: 1259
MONKEYNUTS
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May 28, 2013, 09:23:04 PM |
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16.6
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PsychoticBoy
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Activity: 1890
Merit: 1010
Parental Advisory Explicit Content
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May 28, 2013, 09:32:20 PM |
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16.7
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monkeynuts
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Activity: 1251
Merit: 1259
MONKEYNUTS
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May 28, 2013, 09:44:00 PM |
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16.8
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