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Author Topic: $50k Casascius Error Coin sold on eBay??  (Read 501 times)
kodiak1120
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November 30, 2017, 02:14:26 AM
 #1

Anyone know anything about this one:

https://www.ebay.com/itm/Unredeemed-2011-Version-1-Casascius-1BTC-Physical-Bitcoin-with-Hologram-error-/292341122813?

It's showing as sold for $50k.  There is also a prior one that shows as sold for $35k.  I'm obviously suspicious if this was a legit sale or glitch or what. 

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November 30, 2017, 02:16:48 AM
 #2

Yep, its re-listed.
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November 30, 2017, 02:22:55 AM
 #3

It didn’t actually sell.
Occasionally buyers back out of a sale and the item needs to be relisted.
I used to collect iPods (long story  Cheesy) and sellers used to sell the items on eBay for 5-10x the market price in the hopes of selling at least one to a poorly informed/new collector.
I assume the same thing is happening here. Bitcoin is gaining a lot of traction and mainstream adoption so it would be reasonable to suggest that more people are searching on sites like eBay for coins. It looks like the seller is just trying to take advantage of the price and turn a big profit considering you could buy close to 3 or 4 of those on here for that price.
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November 30, 2017, 02:24:20 AM
 #4

It didn’t actually sell.
Occasionally buyers back out of a sale and the item needs to be relisted.
I used to collect iPods (long story  Cheesy) and sellers used to sell the items on eBay for 5-10x the market price in the hopes of selling at least one to a poorly informed/new collector.
I assume the same thing is happening here. Bitcoin is gaining a lot of traction and mainstream adoption so you could assume that more people would be searching on sites like eBay for coins. Looks like the seller is just trying to take advantage of the price and turn a big profit considering that you could buy close to 3 or 4 of those on here for that price.


I thought that an error went for like 1.7ish BTC?
kodiak1120
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November 30, 2017, 02:29:37 AM
 #5

It didn’t actually sell.
Occasionally buyers back out of a sale and the item needs to be relisted.
I used to collect iPods (long story  Cheesy) and sellers used to sell the items on eBay for 5-10x the market price in the hopes of selling at least one to a poorly informed/new collector.
I assume the same thing is happening here. Bitcoin is gaining a lot of traction and mainstream adoption so it would be reasonable to suggest that more people are searching on sites like eBay for coins. It looks like the seller is just trying to take advantage of the price and turn a big profit considering you could buy close to 3 or 4 of those on here for that price.


But if you relist it, does it show as "sold"?  There is an option to search either for "Completed Listings," which would show unsold products, and "Sold Listings," which I assumed meant it actually sold.  But who knows because eBay is pretty stupid generally speaking.
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November 30, 2017, 02:30:30 AM
 #6

Anyone know anything about this one:

https://www.ebay.com/itm/Unredeemed-2011-Version-1-Casascius-1BTC-Physical-Bitcoin-with-Hologram-error-/292341122813?

It's showing as sold for $50k.  There is also a prior one that shows as sold for $35k.  I'm obviously suspicious if this was a legit sale or glitch or what.  


I also saw the one that supposely sold for 35k so for the hell of it I put one up for 27,500 listed now and unreal the hits Im getting the last few days. I dont want to sell but for 27,500 its gone LOL

I actually had an offer for 15k a few days ago and prob should have taken it.
kodiak1120
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November 30, 2017, 02:32:37 AM
 #7

I messaged the seller of the $50k bitcoin and he's saying he sold it.  Here's his response:

Quote
yes i sold it and im selling another one that i have it equal product
last one!!!
thanks

- bond-collector
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November 30, 2017, 02:33:33 AM
 #8

It didn’t actually sell.
Occasionally buyers back out of a sale and the item needs to be relisted.
I used to collect iPods (long story  Cheesy) and sellers used to sell the items on eBay for 5-10x the market price in the hopes of selling at least one to a poorly informed/new collector.
I assume the same thing is happening here. Bitcoin is gaining a lot of traction and mainstream adoption so you could assume that more people would be searching on sites like eBay for coins. Looks like the seller is just trying to take advantage of the price and turn a big profit considering that you could buy close to 3 or 4 of those on here for that price.


I thought that an error went for like 1.7ish BTC?

The last one to sell on this forum went for 1.65BTC @$BTC - $6,000
Given the new price hike I doubt you'd see anything close to that.
Even at that price, 1.65 x 3 =4.95 @$BTC - $10,000 = $49,500.

Anyone know anything about this one:

https://www.ebay.com/itm/Unredeemed-2011-Version-1-Casascius-1BTC-Physical-Bitcoin-with-Hologram-error-/292341122813?

It's showing as sold for $50k.  There is also a prior one that shows as sold for $35k.  I'm obviously suspicious if this was a legit sale or glitch or what.  


I also saw the one that supposely sold for 35k so for the hell of it I put one up for 27,500 listed now and unreal the hits Im getting the last few days. I dont want to sell but for 27,500 its gone LOL

I actually had an offer for 15k a few days ago and prob should have taken it.

How would payment work? Would you risk selling via PayPal especially when dealing with such a significant amount?

It didn’t actually sell.
Occasionally buyers back out of a sale and the item needs to be relisted.
I used to collect iPods (long story  Cheesy) and sellers used to sell the items on eBay for 5-10x the market price in the hopes of selling at least one to a poorly informed/new collector.
I assume the same thing is happening here. Bitcoin is gaining a lot of traction and mainstream adoption so it would be reasonable to suggest that more people are searching on sites like eBay for coins. It looks like the seller is just trying to take advantage of the price and turn a big profit considering you could buy close to 3 or 4 of those on here for that price.


But if you relist it, does it show as "sold"?  There is an option to search either for "Completed Listings," which would show unsold products, and "Sold Listings," which I assumed meant it actually sold.  But who knows because eBay is pretty stupid generally speaking.

I'm not certain. Interestingly though, his last feedback as a seller was over a year ago. It doesn't mean much but you never know.
kodiak1120
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November 30, 2017, 02:38:43 AM
 #9

Well these things always seem to sell for way more on eBay than on here.  I remember a error coin selling for $10k back when bitcoin was only at like $2,800 or so. 

Personally, I would not risk it with PayPal.  I'm sure the buyer can just rip off the hologram, steal the digital value, and then report it to paypal and claim it came that way.  Paypal would probably consider as a normal coin, and make the seller return it for a full refund.

Then again, if that's what they were going to do, why would they pay such a huge premium on an error coin?
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November 30, 2017, 02:38:49 AM
 #10

It didn’t actually sell.
Occasionally buyers back out of a sale and the item needs to be relisted.
I used to collect iPods (long story  Cheesy) and sellers used to sell the items on eBay for 5-10x the market price in the hopes of selling at least one to a poorly informed/new collector.
I assume the same thing is happening here. Bitcoin is gaining a lot of traction and mainstream adoption so it would be reasonable to suggest that more people are searching on sites like eBay for coins. It looks like the seller is just trying to take advantage of the price and turn a big profit considering you could buy close to 3 or 4 of those on here for that price.


But if you relist it, does it show as "sold"?  There is an option to search either for "Completed Listings," which would show unsold products, and "Sold Listings," which I assumed meant it actually sold.  But who knows because eBay is pretty stupid generally speaking.

Sold on ebay does not mean it was paid for.  The buyer has 2 days to pay and 4 days until the seller can file a non-paying bidder claim.  Seller can then re-list but the previous listing still shows sold even though it was not paid for.

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kodiak1120
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November 30, 2017, 02:43:42 AM
 #11

Did you see my prior post...  I contacted the seller and he's saying he sold it.
kodiak1120
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November 30, 2017, 02:51:19 AM
 #12

It seems a little shady though because he says he has another one available, but the pictures on both listings are the same.  If you zoom in, you can see that both sets of pictures are indeed of the same coin, since the first bits are the same.
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November 30, 2017, 02:56:14 AM
 #13

It seems a little shady though because he says he has another one available, but the pictures on both listings are the same.  If you zoom in, you can see that both sets of pictures are indeed of the same coin, since the first bits are the same.

He told you it was sold hoping that would cause you, a potential buyer, to panic buy it at 50k

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RealHummer
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November 30, 2017, 04:19:35 AM
 #14

It didn’t actually sell.
Occasionally buyers back out of a sale and the item needs to be relisted.
I used to collect iPods (long story  Cheesy) and sellers used to sell the items on eBay for 5-10x the market price in the hopes of selling at least one to a poorly informed/new collector.
I assume the same thing is happening here. Bitcoin is gaining a lot of traction and mainstream adoption so you could assume that more people would be searching on sites like eBay for coins. Looks like the seller is just trying to take advantage of the price and turn a big profit considering that you could buy close to 3 or 4 of those on here for that price.


I thought that an error went for like 1.7ish BTC?

The last one to sell on this forum went for 1.65BTC @$BTC - $6,000
Given the new price hike I doubt you'd see anything close to that.
Even at that price, 1.65 x 3 =4.95 @$BTC - $10,000 = $49,500.

Anyone know anything about this one:



https://www.ebay.com/itm/Unredeemed-2011-Version-1-Casascius-1BTC-Physical-Bitcoin-with-Hologram-error-/292341122813?

It's showing as sold for $50k.  There is also a prior one that shows as sold for $35k.  I'm obviously suspicious if this was a legit sale or glitch or what.  


I also saw the one that supposely sold for 35k so for the hell of it I put one up for 27,500 listed now and unreal the hits Im getting the last few days. I dont want to sell but for 27,500 its gone LOL

I actually had an offer for 15k a few days ago and prob should have taken it.

How would payment work? Would you risk selling via PayPal especially when dealing with such a significant amount?

It didn’t actually sell.
Occasionally buyers back out of a sale and the item needs to be relisted.
I used to collect iPods (long story  Cheesy) and sellers used to sell the items on eBay for 5-10x the market price in the hopes of selling at least one to a poorly informed/new collector.
I assume the same thing is happening here. Bitcoin is gaining a lot of traction and mainstream adoption so it would be reasonable to suggest that more people are searching on sites like eBay for coins. It looks like the seller is just trying to take advantage of the price and turn a big profit considering you could buy close to 3 or 4 of those on here for that price.


But if you relist it, does it show as "sold"?  There is an option to search either for "Completed Listings," which would show unsold products, and "Sold Listings," which I assumed meant it actually sold.  But who knows because eBay is pretty stupid generally speaking.

I'm not certain. Interestingly though, his last feedback as a seller was over a year ago. It doesn't mean much but you never know.


Its funny you ask that as I was going to take paypal but that is also built into the premium if someone is willing to pay me that much. I also received a message from a ebay member yesterday and asked if it was insured when I shipped. This raised a red flag IMO as Im not going to have someone file a dispute with paypal saying I sent and empty package. I told the member if a serious buyer I would look into how high end coin guys ship to protect myself. I havent heard back but like I said a flag went off in my head. Why would a buyer care if I had it insured? All they have to do is file a dispute if it never arrived, Im the guy that needs to worry about insurance IMO not the buyer.
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November 30, 2017, 04:24:41 AM
 #15

Its funny you ask that as I was going to take paypal but that is also built into the premium if someone is willing to pay me that much. I also received a message from a ebay member yesterday and asked if it was insured when I shipped. This raised a red flag IMO as Im not going to have someone file a dispute with paypal saying I sent and empty package. I told the member if a serious buyer I would look into how high end coin guys ship to protect myself. I havent heard back but like I said a flag went off in my head. Why would a buyer care if I had it insured? All they have to do is file a dispute if it never arrived, Im the guy that needs to worry about insurance IMO not the buyer.

A lot of people are REAL noobs at this, so I don't find it surprising. Are these people with no past buying history? I would be careful either way! 

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November 30, 2017, 04:26:12 AM
 #16

Can you sell any item on eBay and not take PayPal?
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November 30, 2017, 01:27:52 PM
 #17

Can you sell any item on eBay and not take PayPal?

Yes

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November 30, 2017, 03:34:00 PM
 #18

Can you sell any item on eBay and not take PayPal?

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November 30, 2017, 04:01:37 PM
 #19

Can you sell any item on eBay and not take PayPal?

Yes

You can ask for PayPal, BT and cash on collection if I recall correctly, but buyers prefer PayPal as they get buyer protection with it and usually always get favourably ruled if it ever escalates to a dispute.
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November 30, 2017, 07:29:11 PM
 #20

madness. i would love to see how many ebay sales of these things wind up going horribly wrong. it seems way too obvious a temptation to me.

what with all the different bitcoins floating around right now there's a whole world of possibilities to fool buyers too.
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