[AUCTION] Casascius 10 BTC 1 oz silver physical bitcoin

[cletus815]

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=1AgYKnsoKJBZQLWFNaXzprSgxQznRbe39J

I 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.

[1715321939]

1715321939

[cletus815]

This should be the auction end timer (barring any last minute bids)

Timer removed. End time: 2013-05-28+23:00:00UTC

[Nightowlace]

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)

[Tirapon]

I'll start with 15 then

[Nightowlace]

15.1

[PsychoticBoy]

15.2

[Nightowlace]

15.3

[Tirapon]

15.4

[Nightowlace]

Lets cut to the chase here

I bid 16.2 BTC

[Exoskeleton]

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.

[DM90]

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.

[Exoskeleton]

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?

[Nightowlace]

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.

[ixne]

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.

[Tirapon]

16.3

[monkeynuts]

16.4

[PsychoticBoy]

16.5

[monkeynuts]

16.6

[PsychoticBoy]

16.7

[monkeynuts]

16.8