Now Here: Casascius 1000 BTC Fine Gold Coin

[casascius]

Now Here:



A real charming 1 ounce gold coin with 1000 bitcoins.

DIAMETER: 30mm

COST: $200 premium over gold spot price (subject to a $1850 per coin reserve), plus shipping, plus you provide the 1000 BTC.  Complete with BTC, this is approximately a $5000 coin.  Shipping is via Registered Mail with insurance.

I will need 3 business days to fill orders.  The coin comes with a gift box and 39mm capsule, including a custom-made Bitcoin-themed acrylic ring to fill the unused space in the capsule.

I will be accepting either BTC or USD wire transfer for this item.  To do this, I had to prepay the gold, which has gone down recently, I am putting my faith in gold going back up and therefore selling subject to a reserve.  This is a coin I am having made on demand, and it doesn't make sense for me to pick up a coin to sell it at a loss.  I need to get at least $1850 per coin, so if gold spot plus $200 is less than $1850, then the coin is not currently for sale (or else is available at $1850 plus BTC and shipping).  This may be the lowest price at which this coin will ever be available.

If you want to pay by USD wire, I can buy your 1000 BTC on your behalf and you pay the actual cost for me to buy it at MtGox.

To order: PM me.  I will provide you a signed agreement to deliver your coin subject to payment.

Registered Mail is the most secure shipping service offered by the US Postal Service, meant for shipping precious metals, gems, and currency.  It comes with full replacement insurance, and each shipment has a full chain of custody from shipment to receipt.  Picking up Registered Mail always requires photo ID.  Approximate cost to ship in the US is $23.00.

Back of coin: Firstbits are discreetly lasered into the top of the coin.  No inkjet, no window.

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[Rejinx]

This may be the highest face value coin of this size ever made.  

[Coinabul]

Very nice!

[Turbor]

  looks great. If only i had so much coins...

[mc_lovin]

That's amazing!

[cbeast]

Very nice, but doesn't the very existence of these threaten the adoption of Bitcoin? Two years ago you could have made a 1 Million BTC coin and all 7 of you would now enjoy Bitcoin trading. There is a need for physical Bitcoin, but where do you draw the line?

[btc_artist]

Excellent job Mike!

[btc_artist]

Very nice, but doesn't the very existence of these threaten the adoption of Bitcoin? Two years ago you could have made a 1 Million BTC coin and all 7 of you would now enjoy Bitcoin trading. There is a need for physical Bitcoin, but where do you draw the line?

The bitcoins from it can be redeemed and traded.  And there is a big difference between 1000 and 1000000.  And what is the difference between buying 1000 BTC and storing them in this coin or storing them in wallet.dat on your computer?

I'm not seeing the problem, unfortunately.

[DeathAndTaxes]

Very nice, but doesn't the very existence of these threaten the adoption of Bitcoin? Two years ago you could have made a 1 Million BTC coin and all 7 of you would now enjoy Bitcoin trading. There is a need for physical Bitcoin, but where do you draw the line?

The bitcoins from it can be redeemed and traded.  And there is a big difference between 1000 and 1000000.  And what is the difference between buying 1000 BTC and storing them in this coin or storing them in wallet.dat on your computer?

I'm not seeing the problem, unfortunately.

I don't see the problem either.  Someone hoarding coins is going to hoard coins.  Either in wallet, in an offline printed wallet stored in a safe, or in a shiny coin.

One could argue it puts a slightly higher barrier to spend (someone doesn't want to tear off the hologram because it can't be "undone") than an printed wallet but that effect can't be that big.  I am guess but I am sure Cascius will "re-hologram" a coin if someone wanted to reload it w/ value.  (i.e. ship coin back to him, pay 1000 BTC, he puts 1000 BTC into a new private address and put a new hologram on it). 

[mc_lovin]

I see this as being a very positive thing for bitcoin, not a negative.  If someone purchases 1000 BTC, that means there is more "money" in the bitcoin world and if it is sitting in a drawer somewhere being unspent, that is still "money" in the system.  It will bring up the value more, because the bitcoins will be purchased at market value.  It's like someone buying 1000 BTC on TradeHill and not spending it.  Plus people might have concerns with hacking or losing their bitcoin wallets in a computer crash, they know their bitcoins will be safe and sound in the sock drawer.

[Fiyasko]

I see this as being a very positive thing for bitcoin, not a negative.  If someone purchases 1000 BTC, that means there is more "money" in the bitcoin world and if it is sitting in a drawer somewhere being unspent, that is still "money" in the system.  It will bring up the value more, because the bitcoins will be purchased at market value.  It's like someone buying 1000 BTC on TradeHill and not spending it.  Plus people might have concerns with hacking or losing their bitcoin wallets in a computer crash, they know their bitcoins will be safe and sound in the sock drawer.

I harshly agree, A coldstorage FlashDrive loaded with 10kbtc feels less valuble to me than a 1000btc loaded Gold coin, Why? Because the Gold Coin wont break. And it LOOKS LIKE MONEY

[MemoryDealers]

Please place your credit card or PayPal orders here:

http://www.memorydealers.com/1000-casascius-bitcoins-gold-1-troy-ounce.html

[OgNasty]

Wow.

[bitcoinbetas]

Wow, just about crapped my pants when I saw that lol

[gnar1ta$]

Is $200 over spot a normal premium for gold coins? I know this isn't a normal coin, and I'm not suggesting it's not worth it, just wondering how coins work.

[worldinacoin]

Love to get one of these, but 1000 BTC!  Do not know how many of us have 1000 BTC

[Turbor]

Free bump sadly only a 1 BTC coin

[DeathAndTaxes]

Is $200 over spot a normal premium for gold coins? I know this isn't a normal coin, and I'm not suggesting it's not worth it, just wondering how coins work.

The premium over spot for bullion coins (American eagles, Candian Maple leafs, etc) is usually ~$60 to $80 if only purchasing one or two units at retail.  When you consider hundreds of thousands if not millions of these are minted each year having a premium of "only" $200 for a custom coin is actually pretty good.

Cascius may be able to provide some insight but I imagine the premium could be cut significantly (maybe even if half) if 100 or so coins were minted at once.  The issue ends up being capital.  100 ounces of gold is >$160,000.

[Otoh]

I expressed interest when these were first mooted & contacted Cass, he doesn't seem to run any update to those who wished to buy one when they became available - at least this shows the reverse behaviour than someone who was up to no good, all being well & the next time I'm in the States I would really love to add this to my bank box there as a compliment to the Chinese gold & MTG Beta slabbed Goxs

[casascius]

He is right, I am a terrible marketer... my website is also badly in need of updating (though it works)...