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Author Topic: CLOSED: [WTS] Chainsaw's 25 BTC MS-65 Casacius Holo Error  (Read 1658 times)
Chainsaw
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November 14, 2013, 06:29:33 PM
Last edit: March 10, 2014, 06:12:25 PM by Chainsaw
 #1

This piece has sold and is no longer available.

Up for sale is a 25 BTC 'Casacius' holo error. (The repeating text in the background of the hologram is misspelled as CASACIUS instead of CASASCIUS.)
Other offerings are enumerated here.

Asking Price: 70 BTC 85 75 82 85 90 100

The coin has been graded by ANACS as MS-65. Such a rating represents an Uncirculated state. Here is the official definition (ANA) of MS-65:
"A coin graded MS-65 shows an attractive high quality of luster and strike for the date and mint.
May have a few small scattered contact marks, or two larger marks may be present.
One or two small patches of hairlines may show.
Noticeable light scuff marks may be seen on the high points of the design. Overall quality is above average and eye appeal is very pleasing..."

This coin was graded prior to the discovery of the pseudo-exploit.
I know of less than 10 other coins that were graded prior to the DefCon failed-but-close security breach.

The front:


The back:


For historical price comparisons, and possibly other same-offerings at lower prices, check the Bitcoin Collectible Marketplace thread.

Here's a link specifically to my other offerings.

List of all Active Version 1 25 BTC
Link showing coin balance

At most, 227 25 BTC S1 coins remain active. Initial mintages for S1 and S2 were about the same, but S1 coins have had nearly half redeemed, making them much more rare.

Note that this Mintage is significantly lower (about 18 times lower!) than the 1 BTC holo errors.
This mintage is also lower (by about 3x) than the 5 BTC holo errors, of which there may be up to 600.
You can compare this coin's Mintage to other mintages in the Collectible Marketplace.

The ANACS case has some scratches. I made sure to make these visible in the pictures rather than obscure them - you need to know exactly what you are buying.
You can rely on ANACS' reputation to know these scratches are on the case, or the coin would not be graded anywhere near its quality.
It is a personal, low-cost choice (less than $50) for a buyer to resubmit this coin, if they desire to get a cleaner case.
Know that in so doing, you will be forever forfeiting this coin's graded-before-exploit quality.
If you would like to go this route, I would be more than happy to help guide you through the regrading process.

I warmly invite your purchases, offers, and competitive offerings.  
Each data point lowers the barrier to entry into this collectible marketplace, allowing it to grow.

Happy shopping, and by all means, if there are any questions I've left unanswered, feel free to ask below.

-Chainsaw

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Chainsaw
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November 14, 2013, 11:23:24 PM
 #2

Any idea as to how many of the non-hologram error 25BTC are in existence, unopened?

I want to say it's something like 215 Active holo errors, and the rest are non-holo errors. You can see here that there are 604 in total. So a good guess, our best information we have now, is:

215 Active holo
389 Active regular

This is based on the assumption that Version 1 vs. 2 is a clean split for the holo errors, and that all Version 1 coins have the error. I'm all but certain that for the 1 BTC coins, there are Version 1 coins without the error.  So it is possible that the quantities of those with holo errors are overstated.

I've asked Mike for this information. Short of that, I'm not sure how else we can get a more definitive number.

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November 15, 2013, 12:36:49 PM
 #3

isn't that grading incorrect?

It's Electroplated Gold - I thought?

Tips BTC --> 1BS2sYvy3T1cpNhie6CVFMcUrHa84a8mPa <-- Thanks! || Tips [LTC] --> LaytYJNCha7z7zcws5a2o2GWWjvWfDCGkr <--
Chainsaw
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November 15, 2013, 02:47:14 PM
 #4

isn't that grading incorrect?

It's Electroplated Gold - I thought?

I'm sorry, I'm not understanding which part of what I wrote is incorrect? I'll happily fix it if you could point it out.

The 25 BTC coins are not solid gold.
I know the 100 BTC bars are gold-plated.
I believe these are gold-plated, but didn't think I had any statement asserting that one way or the other?

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November 15, 2013, 02:49:36 PM
 #5

isn't that grading incorrect?

It's Electroplated Gold - I thought?

I'm sorry, I'm not understanding which part of what I wrote is incorrect? I'll happily fix it if you could point it out.

The 25 BTC coins are not solid gold.
I know the 100 BTC bars are gold-plated.
I believe these are gold-plated, but didn't think I had any statement asserting that one way or the other?

I assume he is alluding to where it says 'Brass' on the label
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November 15, 2013, 02:52:04 PM
 #6

isn't that grading incorrect?

It's Electroplated Gold - I thought?

I'm sorry, I'm not understanding which part of what I wrote is incorrect? I'll happily fix it if you could point it out.

The 25 BTC coins are not solid gold.
I know the 100 BTC bars are gold-plated.
I believe these are gold-plated, but didn't think I had any statement asserting that one way or the other?

I assume he is alluding to where it says 'Brass' on the label
This - just wondering was all...

Tips BTC --> 1BS2sYvy3T1cpNhie6CVFMcUrHa84a8mPa <-- Thanks! || Tips [LTC] --> LaytYJNCha7z7zcws5a2o2GWWjvWfDCGkr <--
Chainsaw
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November 15, 2013, 04:07:07 PM
 #7

Ahh, got it!

When I spoke with ANACS about grading, I believe only one other individual had graded any coins (SgtSpike) - all 1 BTC coins. 
They told me how, when they are grading new coins, they have to sort of come up with the convention and standard labelling.
They accept recommendations (but "Chainsaw error" didn't make the cut :-P  ) on naming, but much they just choose.

To be 100% honest, I don't know whether beneath the gold plating the alloy is brass or something else.

After we've come up with a standard, and given it some time to get refined, I am sure ANACS would be receptive to adopting similar conventions. It's just that we're still on the bleeding edge, making basic building blocks for the collectible market.

(That's what really gets me. The collectible bitcoin market is like a fractal zoom of Bitcoin as a whole. The number of people in it is infinitesimal compared to what it will eventually be. We have tools the equivalent of rocks and spears. Future value, relative to BTC, will far exceed what people currently assume.)

There are tons of ifs attached to this, but looking at precedents set in other collectible markets...
"Error" listings tend to have an additional premium attached to them.
Here's a very recent example from johnniewalker.

As with everything, whether a premium exists is entirely up to the market.

Perhaps in the future these will have a different grading label, making this original grading even more rare.  Guess we'll see.

Chainsaw
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November 29, 2013, 03:34:12 PM
 #8

I hope everyone had a good Thanksgiving.  

It's Black Friday. Make me a reasonable offer, I'll probably accept.

A few other offerings not for sale anywhere else listed here.

And of course, the collectible marketplace is loaded up quite well with casascius offerings right now.

Happy shopping!

Chainsaw
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December 11, 2013, 05:18:46 PM
 #9

I've lowered the asking price again.
Only 218 of these remain.
So many of the S1 coins took damage, high-grade coins are proving to be significantly rarer for the first release.

Two additional notes:

1) While not listed in the collectible marketplace, nightowlace is currently offering an MS-64 version of the same coin for 32 BTC.
2) I would consider offers on my coin. Precious metals could be used for a portion of the purchase price. Barter using some other casascius collectibles could also be used for a portion of the purchase.

Chainsaw
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March 10, 2014, 06:12:38 PM
 #10

This piece is no longer available.

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