Casascius Coin (2011)

[wheelinman]

Hello all, FNG here...

I do not know much about Bitcoin yet (trying to learn as I go).  That being said, the only form of Bitcoin i currently own is an untampered Casascius Coin worth 1 bitcoin.  my question to you is, should I redeem the value into a wallet of some sort, or keep it intact as is?   

TIA for any input!

[jackg]

I'd leave it intact. You might be able to get 1.05-1.15+ for it though if you did want to sell it.

They're a decent collectors' piece though imo so I'd hold onto it unless you need the money.

[wheelinman]

thank for the quick reply.  I'm not needing the money (as of yet). my biggest concern is if the value of Bitcoin increases the way it is projected to, do you think the coin would still be worth 1.05-1.15 at $500,000 US?  (just a number for argument sake lol)

[jackg]

I wouldn't be certain of it but I'd imagine as bitcoin increases in value, the market for these sorts of items will also increase in size big enough to absorb it.

They also can't be worth less than the current coin thats loaded on them as you could just sell that coin and its forks instead at some point.

[mk4]

Yea.. I'd personally hold onto that. Imagine like 10 years from now where Bitcoin is far more adopted; those collectibles would be most likely be heavily sought after. That's pretty much going to be a piece of Bitcoin's history; like an art piece.

[cryptoaddictchie]

Wow thats a rare investment collection to have. If I had those probably I kept it for along time. We Dont know what would be btc price in the future as it grows and being adopted widely.

I like to have those before but of course its not cheap to win that on a bid in the auction and now it's worth huge and could be more in the coming years. So I advise to keep it.

[wheelinman]

Thank you everyone for your input! I will definitely be taking the advice given unanimously and hold on to it for the faceable future.

[Steamtyme]

You should go to the collectibles section for more accurate information. It's a toss up really, in BTC value the premium in theory will be ever shrinking as price continues to grow. Most of the premium is also tied into the alt coins one can get when they peel loaded coins. The price would also be hard to pin down as most of the coins were graded and slabbed years ago that generally come up for sale.
The other side of it is that as more of the coins get peeled they are a rarer find. Either way good luck.

I would add for your particular case this is also probably one of the safest methods for you to store your 1 BTC for the long haul.

[fancynancy]

thank for the quick reply.  I'm not needing the money (as of yet). my biggest concern is if the value of Bitcoin increases the way it is projected to, do you think the coin would still be worth 1.05-1.15 at $500,000 US?  (just a number for argument sake lol)

why fiat price matters here consider you are going to sell/exchange it for btc anyway?
1.15btc will always be 1.15 btc and you can sell the coin and hodl them
when btc reaches 500k, you want to shake selling one physical coin for half a milion or have 1.15 btc which you can split in many trades you feel comfortable?
i believe selling it now is better than waiting 500k usd peak.
at least you will have more options in future for selling, trading or exchanging it in parts