CASASCIUS PHYSICAL BITCOIN - In Stock Now! (pic)

[Melbustus]

Where did these go?

Whoa... I didn't know about that variety. Any idea what the addresses for them are? Or any other info/discussion about them?

[Melbustus]

...
When I first started investigating BTC (when BTC was around 12 USD, december 2012) I landed on the casascius website. I was a silver bug so no surprises there... I saw the 1oz 10 BTC coin and calculated that it had 50 USD premium (or something like that). Decided not buy one LOL. I didn't own BTC (only faucet dust) so this possible purchase could have me incentivised me to buy some actual BTC, but it didn't happen.
Then my exams came, and when I checked the price of 1 BTC again after the exams, it was >35 USD  

Still very happy I managed to buy some BTC below 100 USD. And I am happy I have a silver casascius 1 BTC now But I will never forget my strupid decision to NOT buy the 10 BTC coin...

Heh... At one point, I had "5" typed into the casascius order form for the 10BTC gold-trim coins, but then got distracted by something. Came back to it a few days later and Mike had sold out of those coins! Oh well... Also had an order for several hundred BTC at ~$1.8 in November 2011 that never filled. The amount of near-misses and screw-ups I've had with bitcoin would amount to at least a half million dollars worth today. As molecular noted, we all have these stories...

[naypalm]

we all have these stories...

Back in 2012 I was broke and paid my friend a 1 btc coin in exchange for a meal at Taco Bell. He sold it late last year for almost $800! Oh fun times

[Melbustus]

we all have these stories...

Back in 2012 I was broke and paid my friend a 1 btc coin in exchange for a meal at Taco Bell. He sold it late last year for almost $800! Oh fun times

Instead of dropping candy into people's stockings for Christmas, I dropped Casascius coins. Did the trick, though - got people interested in bitcoin!

Is your friend into bitcoin now? Would he have been without the experience with the coin?

[AFox]

I see people selling Casascius coins and I see a lot of "MS64", "MS65", "MS66" ...
What does it mean ?

[Fortify]

I see people selling Casascius coins and I see a lot of "MS64", "MS65", "MS66" ...
What does it mean ?

It is a rating given by the ANACS rating company. People send their Casascius coins to them, they check the quality of the coins and whether there are any defects. After that they assign the grading numbers (M64,M65,etc), put in in an airtight case and mail it back to you. A higher number indicates a better quality coin.

[Mariowot]

I see people selling Casascius coins and I see a lot of "MS64", "MS65", "MS66" ...
What does it mean ?

It means that coin is graded.
Depends on number (higher=better) its from 1-70 and 70 means that coin is in a essentially perfect condition

[Blazed]

http://coins.about.com/od/coingrading/qt/coin_grading101.htm

This explains each grade level...to date the highest a Casascius has received is MS-67. Other physicals have scored higher.. Titan and Lealana have both hit MS68

[nubbins]

It's also worth noting that the numismatic community widely considers ANACS to be a second-rate company, mostly because they're overly generous with their gradings (an ANACS MS68 might be a PCGS MS66-67). The first-rate grading services won't touch physical Bitcoins, as far as I know.

It's also worth noting that many different types of grading slabs have been counterfeited in the past. The careful purchaser examines the slab closely. The careful buyer also carefully examines the coin and determines their own grade instead of relying on the grade printed on the slab.

REMEMBER: Buy the coin, not the slab.

[djjacket]

I see people selling Casascius coins and I see a lot of "MS64", "MS65", "MS66" ...
What does it mean ?

"MS" stands for Mint State.  The 1-70 scale is called the Sheldon Scale and it was established to provide a empirical number rating for the condition of a collectible numismatic coin.  It is a numismatic standard and is not only used by ANACS, although some grading companies differ slightly in how the may evaluate a coin.

http://en.wikipedia.org/wiki/Sheldon_coin_grading_scale

When buying a coin graded by an trusted independent grading company (ANACS, PCGS, NGC), you can be confident that the coin is genuine (not a Chinese fake) and in the condition listed on the slab.  Sometimes is can be difficult to gauge the condition of a coin via digital pictures that can be altered.  Currently, of the 3 major grading companies, only ANACS will grade the Casascius and other crypto-currency coins.

[djjacket]

It's also worth noting that the numismatic community widely considers ANACS to be a second-rate company, mostly because they're overly generous with their gradings (an ANACS MS68 might be a PCGS MS66-67). The first-rate grading services won't touch physical Bitcoins, as far as I know.

It's also worth noting that many different types of grading slabs have been counterfeited in the past. The careful purchaser examines the slab closely. The careful buyer also carefully examines the coin and determines their own grade instead of relying on the grade printed on the slab.

REMEMBER: Buy the coin, not the slab.

I wouldn't say they are considered second-rate, but they are definitely not the most popular with the numismatic community, but as nubbins stated, they are the only "Big Three" grading company that will grade physical crypto-coins. 

They are the oldest grading service company in the US and was created in the 1970s to help the coin industry overcome the growing coin counterfeit and altered coins in the market.  It is true that slabs themselves are now being counterfeited, but most of the counterfeit slabs I have seen are from the "1st-rate" companies because of their popularity (PCGS and NGC) 

 

[AFox]

Thanks for your replies.

[bitmarket.io]

Thanks for your replies.

We need more people like you.  That ask questions, learn, and get involved in the Cas space.  Really helps the market mature.  I think they are the best long term investment one can make. Appreciates as a collectible and in BTC value.

[joecooin]

Btw: have you noticed that there is a typo on the coins? The smaller, repeated lettering on the hologram is missing the second 's' and says 'casacius'

Yes I am aware of the typo on the holograms.  Didn't see it until it was too late.  Another batch of holograms is in production with this fixed (and other improvements).

Waaaat? You mean all coins purchased before now are the "rare 2011 casascius with typo" and sell for a much higher price at some point in the future? Nice! How many (will) have the typo?

http://www.ebay.com/itm/Casascius-ANACS-ERROR-MS-65-2011-bit-coin-physical-loaded-Lealana-titan-/291263053896



edit:

oh wow:

http://www.ebay.com/itm/1-BTC-CASASCIUS-2011-Series-2-Physical-Bit-Coin-RAREST-FIRST-YEAR-ISSUE-/291316236556

[ducatitalia]

Btw: have you noticed that there is a typo on the coins? The smaller, repeated lettering on the hologram is missing the second 's' and says 'casacius'

Yes I am aware of the typo on the holograms.  Didn't see it until it was too late.  Another batch of holograms is in production with this fixed (and other improvements).

Waaaat? You mean all coins purchased before now are the "rare 2011 casascius with typo" and sell for a much higher price at some point in the future? Nice! How many (will) have the typo?

http://www.ebay.com/itm/Casascius-ANACS-ERROR-MS-65-2011-bit-coin-physical-loaded-Lealana-titan-/291263053896



edit:

oh wow:

http://www.ebay.com/itm/1-BTC-CASASCIUS-2011-Series-2-Physical-Bit-Coin-RAREST-FIRST-YEAR-ISSUE-/291316236556

Nice call way back when molecular.  

Market has been slow for Casascius (including Casacius), as BTC has cooled off...2011 S1 have been selling in the 3-7BTC range depending on grade.  2011 S2 are more likely worth around 2BTC.  Fiat asking price is not necessarily indicative of market value...as you can see by this 2012 Casascius comparison...

Asking ~$3000: http://www.ebay.com/itm/1-BTC-2012-Casascius-Bitcoin-Series-2-Fully-Loaded-Rare-Physical-Currency-Look-/390982115728?pt=UK_Coins_World_RL&hash=item5b0859a190

Comparable actual sale price $416: http://www.ebay.com/itm/111481977895?_trksid=p2055119.m1438.l2649&ssPageName=STRK%3AMEBIDX%3AIT

[molecular]

Btw: have you noticed that there is a typo on the coins? The smaller, repeated lettering on the hologram is missing the second 's' and says 'casacius'

Yes I am aware of the typo on the holograms.  Didn't see it until it was too late.  Another batch of holograms is in production with this fixed (and other improvements).

Waaaat? You mean all coins purchased before now are the "rare 2011 casascius with typo" and sell for a much higher price at some point in the future? Nice! How many (will) have the typo?

http://www.ebay.com/itm/Casascius-ANACS-ERROR-MS-65-2011-bit-coin-physical-loaded-Lealana-titan-/291263053896



edit:

oh wow:

http://www.ebay.com/itm/1-BTC-CASASCIUS-2011-Series-2-Physical-Bit-Coin-RAREST-FIRST-YEAR-ISSUE-/291316236556

Nice call way back when molecular.  

Hehe, thanks. Who'd have thought they would sell for thousands of dollars way back then, though.

Thanks for digging that up joecooin. Thinking about those days always shows how far we've come since.

Market has been slow for Casascius (including Casacius), as BTC has cooled off...2011 S1 have been selling in the 3-7BTC range depending on grade.  2011 S2 are more likely worth around 2BTC.  

Thanks for this wrapup. I'm a bit 'out of the market'. I've wondered when would be the best time to sell one or two 2011 S1s (for BTC) and I've come to the conclusion that it's probably most profitable to sell on ebay during a hype and hope for exaggerated price, then buy bitcoin with the fiat... even with the extreme ebay / paypal fees it could be the best option. What do you think?

[ducatitalia]

Btw: have you noticed that there is a typo on the coins? The smaller, repeated lettering on the hologram is missing the second 's' and says 'casacius'

Yes I am aware of the typo on the holograms.  Didn't see it until it was too late.  Another batch of holograms is in production with this fixed (and other improvements).

Waaaat? You mean all coins purchased before now are the "rare 2011 casascius with typo" and sell for a much higher price at some point in the future? Nice! How many (will) have the typo?

http://www.ebay.com/itm/Casascius-ANACS-ERROR-MS-65-2011-bit-coin-physical-loaded-Lealana-titan-/291263053896



edit:

oh wow:

http://www.ebay.com/itm/1-BTC-CASASCIUS-2011-Series-2-Physical-Bit-Coin-RAREST-FIRST-YEAR-ISSUE-/291316236556

Nice call way back when molecular.  

Hehe, thanks. Who'd have thought they would sell for thousands of dollars way back then, though.

Thanks for digging that up joecooin. Thinking about those days always shows how far we've come since.

Market has been slow for Casascius (including Casacius), as BTC has cooled off...2011 S1 have been selling in the 3-7BTC range depending on grade.  2011 S2 are more likely worth around 2BTC.  

Thanks for this wrapup. I'm a bit 'out of the market'. I've wondered when would be the best time to sell one or two 2011 S1s (for BTC) and I've come to the conclusion that it's probably most profitable to sell on ebay during a hype and hope for exaggerated price, then buy bitcoin with the fiat... even with the extreme ebay / paypal fees it could be the best option. What do you think?

That would indeed seem to be the best strategy, and Ebay is a good bridge to the masses.  But selling during hype and hope as you put it, will be the key.  I've seem some beautiful coins go for way below what most would consider respective market value, during down times like we have now.  But if/when BTC rallies back towards previous highs and beyond, I'm guessing the masses will be scrambling to get their hands on whatever BTC they can find, especially given Bitcoin's now more elevated, and to some degree, even mainstream awareness.  I'm further thinking that when the mass influx of outsiders and newcomers do finally buy into BTC (likely precipitated by significant fiat exchange rate increases or some other global catalyst), many will want something physical to hold onto...and while there are many options, Casascius is most certainly the standard in that regard, given its added numismatic value and storied position within the Bitcoin ecosystem.

Seems most of the Casascius collectors around here have rightfully decided to just hold their coins, rather than sell at drastically reduced multiples.  As such, we've generally seen a bit of a stall-out in the number of Casascius transactions taking place.  But much like real estate, these things move in cycles...and at some point, it will be a seller's market again.   

[molecular]

thanks for your asessment, ducatitalia.

After reading it I'm thinking: I should've held on to more casascius coins ;-)

[P4man]

My only regret is that Ive carried loose series 1 and 5 BTC coins in my pocket for months to show off (and hand out). Id never thought they would ever be graded..

[molecular]

thanks for your asessment, ducatitalia.

After reading it I'm thinking: I should've held on to more casascius coins ;-)