Casascius coins - opinions on future view.

[psyberkat1100]

Hi All,
   Many years back I was part of a groupbuy on reddit whereas we brought some Casascius coins direct from the original site. Now BTC has significantly risen i have thoughts on selling the coin. Having a coin of this value - in any location - feels like a too big risk to me, esp with how much its worth. I'm curious on knowing some opinions and views on the following.

1 - Looking towards future view - bitcoin's price goes up, so if i sell it now and than in 12 months the price rises again, than offers might be less due to btc had risen. Does anyone think there is anypoint whereas it would be worth holding the coin?. I can only see with time it being worth ""less" in btc so its making me have thoughts of selling it and soon before more rises happen.

2 - if you have one - where do you safely store it? do you show friends?

3 - Grading - Ive looked into PCGS grading, I live in Australia, so it would need to be posted. bitcoin is currently $105,000 AUD, so shipping insurance quotes so far have been 5%, which is more than 5K. is it worth me going through a few months grading process to sell?. i suspect if i can take some good enough pictures i can sell it without having it graded.

4 - Sale - If i do decide to sell - how is insurance handled?, I suspect this would be costly. Doing a bit of looking on this forum it looks like minerjones would be the one to contact for escrow, but i honestly would feel better trading the coin in person (with escrow to would be fine). Is there any Places in Australia whereas i can sell this safely? I've called many "coin" Traders and they are all old and say "we dont deal with cryptocurrency".

Also im unsure if this is the correct location to post, wasnt sure the best place.

[minerjones]

Depends on what your goal is in with your coin/btc....

You are correct saying that as the $$ price of btc rises, the premiums in btc will fall, but worth more in $$

Grading for a coin of this value takes only about 2 weeks with PCGS, but would recommend any kind of shipping at this point.
Also, no insurance is going to cover the digital value of the item.

The coin should sell itself regardless of it being graded or not.....

Even with an escrow, the coin would still have to be transferred to them in person for authentication.

In person meetings can be held at places like police stations, lawyer's offfices, banks, etc

I would personally recommend against contacting regular numismatic dealers. They are usually uneducated and won't deal with anything that isn't a Morgan Dollar


Best bet would be to peel/redeem the coin and then sell/auction the carcass... much safer

[klondike_bar]

1) BTC premium typically reduces over time as BTCUSD rises, but at the same time the numerismatic value of the coin also improves with age as it becomes rarer to find one for sale or viewing.

2) safety deposit box or other thoroughly-secured location. Viewing of a loaded coin by others is not recommended, or at least should consider the risk that the viewer may try to steal from you.

3) The effect of grading is unclear, as the digital value of the coin conducts such premiums. If you cannot grade within your home country, its likely not worth it. High-resolution photographs are probably as valuable as a graded slab, as it allows the buyer to evaluate the condition.

4) shipping out of country is tough, as it carries a risk of loss and can be difficult to correctly insure the coin. (notwithstanding the shipping logistics, an escrow such as minerjones is highly advisable). A local buyer is probably your best bet, even if its a lower bid than a US buyer.

[blucepheus]

While I’m sure at some point Casascius will fetch hearty premiums due to rarity (even as BTC far surpasses $100s of K), as others mention the premium will generally come down as BTC rises.

I’m okay with the premium coming down, as it forces me to HODL Bitcoin. Otherwise, I’d naturally sell (paper hands, I am!) That’s mostly why I will continue to maintain a Cas collection as BTC rises.

That, and they’re the most stunning coins I’ve ever seen, and they are truly a part of Bitcoin’s history. It feels like a real honor to own them.

[psyberkat1100]

Thanks the the replys all ,appreciate your comments.

I think selling the coin and having to post is going to create to much risk for me personally, especially without insurance, potential of getting lost in the post etc.

If i found a buyer in Aus i may sell, depending on the premium it catches, it would be easy for me to fly to a location in Aus for delivery and receive funds.

And i agree with blucepheus, these coins are stunning.

There is the possibility of peeling the coin too to keep the funds secure, say if the secure location i keep it - burns down or has a extreme event (flood) at least i can keep the digital coin safe.

I'd really like to keep it unpeeled though, it gives it more beauty this way, it holds a secret, which makes it super special.

[OgNasty]

1) This question depends on how you value the coin. I’ve always valued things I buy in USD along with the rest of the world. Casascius coins are no different. So while it’s cute to talk about when to get the most BTC premium, taxes and reality would dictate you value it in USD and I’d recommend trying to get the most USD possible when selling. The number one factor in how much $ you get is the Bitcoin exchange rate and this is why peeling can be better than selling at a premium because you have more control over when you cash out and no risk of shipping.

2) I’d recommend keeping them at a bank out of state. Downsides being you’ll never see them and definitely won’t ever show anyone. You don’t want easy access to your Casascius coins.

3) Grading has historically been pretty worthless. They can’t spot fakes and their grades are all over the place. If you resubmit a coin it will get a different grade the second time. Not to mention more hands on it and more shipments is never a good idea. I am a minority in this view, but I would recommend avoiding grading.

4) Selling on the forum with escrow is the preferred method historically. I’ve escrowed dozens over the years and never had an issue, but shipping is always scary. Auction houses are also becoming a popular option, but the fees and swings in BTC price can make this option worse than just peeling.

[tread93]

Thanks the the replys all ,appreciate your comments.

I think selling the coin and having to post is going to create to much risk for me personally, especially without insurance, potential of getting lost in the post etc.

If i found a buyer in Aus i may sell, depending on the premium it catches, it would be easy for me to fly to a location in Aus for delivery and receive funds.

And i agree with blucepheus, these coins are stunning.

There is the possibility of peeling the coin too to keep the funds secure, say if the secure location i keep it - burns down or has a extreme event (flood) at least i can keep the digital coin safe.

I'd really like to keep it unpeeled though, it gives it more beauty this way, it holds a secret, which makes it super special.

You couldn't be more on point with that OP, the secret that lies there in that coin is worth quite a pretty penny! I wonder what denomination of the coin you have or if you can share any pics via a link? Posting pics are sort of tricky to do on here. Would love to see this beauty. As for the story of how you came across it I wonder what subreddit thread was that? I think its awesome you were a part of that, good luck on your sale!!

[frankbitcoin]

Seems like I read at one point someone suggesting use of a private armored truck transport for shipping purposes during a sale process, though I don't remember the full details. It was cas related.

[minerjones]

Seems like I read at one point someone suggesting use of a private armored truck transport for shipping purposes during a sale process, though I don't remember the full details. It was cas related.

Think that may have been Otoh related... but again, hopefully people read the fine print before hiring a service like this.
Most (if not all) will not cover digital values especially if there are coins with holograms:

Section X, subsection B, part 3:

3. If Your Shipment contains securities, traveler’s checks, holograms, magnetic strips, credit card stock, data media, computer components or similar items, Brink’s is
only responsible for replacement cost without regard to information contained on such items, unless the parties have otherwise agreed in writing to have special
terms in connection with such items as set forth in any Rider(s) to this Contract


Seems like you might be able to get a special conditional rider attached to this contract

[OgNasty]

Seems like I read at one point someone suggesting use of a private armored truck transport for shipping purposes during a sale process, though I don't remember the full details. It was cas related.

Think that may have been Otoh related... but again, hopefully people read the fine print before hiring a service like this.
Most (if not all) will not cover digital values especially if there are coins with holograms:

Section X, subsection B, part 3:

3. If Your Shipment contains securities, traveler’s checks, holograms, magnetic strips, credit card stock, data media, computer components or similar items, Brink’s is
only responsible for replacement cost without regard to information contained on such items, unless the parties have otherwise agreed in writing to have special
terms in connection with such items as set forth in any Rider(s) to this Contract


Seems like you might be able to get a special conditional rider attached to this contract

I think that cost is a bit high for most people and probably overkill.  I'm sure there are people here who love to travel that you could hire as a courier to transport Casascius coins if the value made it worth the effort and cost.  I'd personally love to be known as "The Transporter" but as someone who doesn't really like to fly around the country it would cost a pretty penny.  Still, I think it would be worth the trip just to be referred to as the transporter.  So if anyone wants to give me some plane tickets and BTC to have me transport their Casascius coins to a buyer, feel free to reach out.

[Zyro]

Seems like I read at one point someone suggesting use of a private armored truck transport for shipping purposes during a sale process, though I don't remember the full details. It was cas related.

Think that may have been Otoh related... but again, hopefully people read the fine print before hiring a service like this.
Most (if not all) will not cover digital values especially if there are coins with holograms:

Section X, subsection B, part 3:

3. If Your Shipment contains securities, traveler’s checks, holograms, magnetic strips, credit card stock, data media, computer components or similar items, Brink’s is
only responsible for replacement cost without regard to information contained on such items, unless the parties have otherwise agreed in writing to have special
terms in connection with such items as set forth in any Rider(s) to this Contract


Seems like you might be able to get a special conditional rider attached to this contract

I think that cost is a bit high for most people and probably overkill.  I'm sure there are people here who love to travel that you could hire as a courier to transport Casascius coins if the value made it worth the effort and cost.  I'd personally love to be known as "The Transporter" but as someone who doesn't really like to fly around the country it would cost a pretty penny.  Still, I think it would be worth the trip just to be referred to as the transporter.  So if anyone wants to give me some plane tickets and BTC to have me transport their Casascius coins to a buyer, feel free to reach out.

This would be a very fun job.  I happen to love flying in planes and travel in general.   

Safety would be a concern, but that could be managed for sure. 

[OgNasty]

Safety would be a concern, but that could be managed for sure. 

Gotta join the cause to bulk up the muscles alongside the wallet.dat. 

https://bitcointalk.org/index.php?topic=5484350.0

I don't think safety would be that big of a concern really.  Nobody would know that you have the coin except the buyer and seller, who each have a reason to want things to go smoothly.  Not to mention if it were done in airports then security would be provided for free by Uncle Sam.  You'd just have to make sure not to do something stupid and lose the coin while you're on the airplane.  Perhaps avoid in flight naptime.

[psyberkat1100]

Thanks the the replys all ,appreciate your comments.

I think selling the coin and having to post is going to create to much risk for me personally, especially without insurance, potential of getting lost in the post etc.

If i found a buyer in Aus i may sell, depending on the premium it catches, it would be easy for me to fly to a location in Aus for delivery and receive funds.

And i agree with blucepheus, these coins are stunning.

There is the possibility of peeling the coin too to keep the funds secure, say if the secure location i keep it - burns down or has a extreme event (flood) at least i can keep the digital coin safe.

I'd really like to keep it unpeeled though, it gives it more beauty this way, it holds a secret, which makes it super special.

You couldn't be more on point with that OP, the secret that lies there in that coin is worth quite a pretty penny! I wonder what denomination of the coin you have or if you can share any pics via a link? Posting pics are sort of tricky to do on here. Would love to see this beauty. As for the story of how you came across it I wonder what subreddit thread was that? I think its awesome you were a part of that, good luck on your sale!!

yes the secret is worth a pretty penny,

Heres a some pics of the coin.
https://imgchest.com/p/vj4j3qbwey8

https://cdn.imgchest.com/files/p7bwcop3ak7.png
https://cdn.imgchest.com/files/w7pjco2bzz7.png

yeah i brought it so long ago i *think* it was on reddit, i went through all my reddit history to try and find the details and its not there, maybe it was in a old account i had. but yeah i was lucky to be part of it. i remember years ago i was heaps proud of it, showing people, even my parents and they were like "be careful sounds like a scam". I even took it to work and showed colleagues when the price was around around $300. now its my best kept secret.

1) This question depends on how you value the coin. I’ve always valued things I buy in USD along with the rest of the world. Casascius coins are no different. So while it’s cute to talk about when to get the most BTC premium, taxes and reality would dictate you value it in USD and I’d recommend trying to get the most USD possible when selling. The number one factor in how much $ you get is the Bitcoin exchange rate and this is why peeling can be better than selling at a premium because you have more control over when you cash out and no risk of shipping.

2) I’d recommend keeping them at a bank out of state. Downsides being you’ll never see them and definitely won’t ever show anyone. You don’t want easy access to your Casascius coins.

3) Grading has historically been pretty worthless. They can’t spot fakes and their grades are all over the place. If you resubmit a coin it will get a different grade the second time. Not to mention more hands on it and more shipments is never a good idea. I am a minority in this view, but I would recommend avoiding grading.

4) Selling on the forum with escrow is the preferred method historically. I’ve escrowed dozens over the years and never had an issue, but shipping is always scary. Auction houses are also becoming a popular option, but the fees and swings in BTC price can make this option worse than just peeling.

Im glad you said that grading is worthless, i was really considering it early on before i started looking more into selling it. way too risky now. and yeah ive read reports of people getting different results. if/when i sell the pics will need to be enough.

Yeah peeling is a option, but if i could get around ~>.25 extra on it (at current price ) i would sell (to someone in Aus), if less than that i think peeling would be my go.

Safety would be a concern, but that could be managed for sure. 

Gotta join the cause to bulk up the muscles alongside the wallet.dat. 

https://bitcointalk.org/index.php?topic=5484350.0

I don't think safety would be that big of a concern really.  Nobody would know that you have the coin except the buyer and seller, who each have a reason to want things to go smoothly.  Not to mention if it were done in airports then security would be provided for free by Uncle Sam.  You'd just have to make sure not to do something stupid and lose the coin while you're on the airplane.  Perhaps avoid in flight naptime.

yeah if i fly with it I'm gonna be so nervous!. like which pocket to put it in yo!.

[BookofNick]

An alt take on grading:

Grading can be great if for no other reason than it preserves your coin in its best state. You need never worry about fingerprints, etc when in a slab.

While each buyer must do their diligence, and a coin being in a slab is never an absolute guarantee of authenticity, it does "evidence" authenticity, and for an entry-level buyer who may not have seen a cas coin in person before and has no frame of reference, having the backing of a graded coin in a slab can be the make or break decision as to whether or not someone wants to take the risk of a purchase.

I highly recommend getting coins graded by a reputable company.

[frankbitcoin]

Seems like I read at one point someone suggesting use of a private armored truck transport for shipping purposes during a sale process, though I don't remember the full details. It was cas related.

Think that may have been Otoh related... but again, hopefully people read the fine print before hiring a service like this.
Most (if not all) will not cover digital values especially if there are coins with holograms:

Section X, subsection B, part 3:

3. If Your Shipment contains securities, traveler’s checks, holograms, magnetic strips, credit card stock, data media, computer components or similar items, Brink’s is
only responsible for replacement cost without regard to information contained on such items, unless the parties have otherwise agreed in writing to have special
terms in connection with such items as set forth in any Rider(s) to this Contract


Seems like you might be able to get a special conditional rider attached to this contract

wow that's wild. good find. seems like the options are extremely limited and require a face-to-face meeting, preferably at a secure location like inside of a bank.

[frankbitcoin]

Thanks the the replys all ,appreciate your comments.

I think selling the coin and having to post is going to create to much risk for me personally, especially without insurance, potential of getting lost in the post etc.

If i found a buyer in Aus i may sell, depending on the premium it catches, it would be easy for me to fly to a location in Aus for delivery and receive funds.

And i agree with blucepheus, these coins are stunning.

There is the possibility of peeling the coin too to keep the funds secure, say if the secure location i keep it - burns down or has a extreme event (flood) at least i can keep the digital coin safe.

I'd really like to keep it unpeeled though, it gives it more beauty this way, it holds a secret, which makes it super special.

You couldn't be more on point with that OP, the secret that lies there in that coin is worth quite a pretty penny! I wonder what denomination of the coin you have or if you can share any pics via a link? Posting pics are sort of tricky to do on here. Would love to see this beauty. As for the story of how you came across it I wonder what subreddit thread was that? I think its awesome you were a part of that, good luck on your sale!!

yes the secret is worth a pretty penny,

Heres a some pics of the coin.
https://imgchest.com/p/vj4j3qbwey8




yeah i brought it so long ago i *think* it was on reddit, i went through all my reddit history to try and find the details and its not there, maybe it was in a old account i had. but yeah i was lucky to be part of it. i remember years ago i was heaps proud of it, showing people, even my parents and they were like "be careful sounds like a scam". I even took it to work and showed colleagues when the price was around around $300. now its my best kept secret.

1) This question depends on how you value the coin. I’ve always valued things I buy in USD along with the rest of the world. Casascius coins are no different. So while it’s cute to talk about when to get the most BTC premium, taxes and reality would dictate you value it in USD and I’d recommend trying to get the most USD possible when selling. The number one factor in how much $ you get is the Bitcoin exchange rate and this is why peeling can be better than selling at a premium because you have more control over when you cash out and no risk of shipping.

2) I’d recommend keeping them at a bank out of state. Downsides being you’ll never see them and definitely won’t ever show anyone. You don’t want easy access to your Casascius coins.

3) Grading has historically been pretty worthless. They can’t spot fakes and their grades are all over the place. If you resubmit a coin it will get a different grade the second time. Not to mention more hands on it and more shipments is never a good idea. I am a minority in this view, but I would recommend avoiding grading.

4) Selling on the forum with escrow is the preferred method historically. I’ve escrowed dozens over the years and never had an issue, but shipping is always scary. Auction houses are also becoming a popular option, but the fees and swings in BTC price can make this option worse than just peeling.

Im glad you said that grading is worthless, i was really considering it early on before i started looking more into selling it. way too risky now. and yeah ive read reports of people getting different results. if/when i sell the pics will need to be enough.

Yeah peeling is a option, but if i could get around ~>.25 extra on it (at current price ) i would sell (to someone in Aus), if less than that i think peeling would be my go.

Safety would be a concern, but that could be managed for sure. 

Gotta join the cause to bulk up the muscles alongside the wallet.dat. 

https://bitcointalk.org/index.php?topic=5484350.0

I don't think safety would be that big of a concern really.  Nobody would know that you have the coin except the buyer and seller, who each have a reason to want things to go smoothly.  Not to mention if it were done in airports then security would be provided for free by Uncle Sam.  You'd just have to make sure not to do something stupid and lose the coin while you're on the airplane.  Perhaps avoid in flight naptime.

yeah if i fly with it I'm gonna be so nervous!. like which pocket to put it in yo!.

Funny that you took it into work and shared it around, and the comments from your parents 

Gorgeous coin man. Congrats on owning a true treasure.

[PreciousMetapsICT]

Personally speaking - given that it has been proven that with enough skill you can peel and remove holos, then reattach them - grading helps lock in the fact that the holo has not been touched from that point forward. smaller denoms are less of a risk, and each all time high that bitcoin passes and the coin doesn't get swept leads me to believe them to be uncompromised. But we are talking about a full bitcoin here. Around 65k today. It would be very hard for me to spend that amount of money on an ungraded coin, from an unknown source.  And def not when bitcoin is at 65k. just not worth the risk.

also hard for me to trust the mail or the grading company not to lose the item.

I would still peel and sweep, sell the coin separetely. Cut out the holo carefully as the better it looks, the higher the resale of the redeemed coin. just to mitigate risks

[ChiBitCTy]

1) This question depends on how you value the coin. I’ve always valued things I buy in USD along with the rest of the world. Casascius coins are no different. So while it’s cute to talk about when to get the most BTC premium, taxes and reality would dictate you value it in USD and I’d recommend trying to get the most USD possible when selling. The number one factor in how much $ you get is the Bitcoin exchange rate and this is why peeling can be better than selling at a premium because you have more control over when you cash out and no risk of shipping.

2) I’d recommend keeping them at a bank out of state. Downsides being you’ll never see them and definitely won’t ever show anyone. You don’t want easy access to your Casascius coins.

3) Grading has historically been pretty worthless. They can’t spot fakes and their grades are all over the place. If you resubmit a coin it will get a different grade the second time. Not to mention more hands on it and more shipments is never a good idea. I am a minority in this view, but I would recommend avoiding grading.

4) Selling on the forum with escrow is the preferred method historically. I’ve escrowed dozens over the years and never had an issue, but shipping is always scary. Auction houses are also becoming a popular option, but the fees and swings in BTC price can make this option worse than just peeling.

1) I’m with you on this. 1 Bitcoin = 1 Bitcoin just doesn’t compute for me, not yet anyhow.

3) Depends where it’s graded. You can feel extremely confident that you’ve got a real deal crypto coin when graded w ICG as they have the worlds foremost knowledge person on physical bitcoins verifying the authenticity (MJ, of course). However PCGS is the most trusted and desired slab company on the planet, so while they absolutely can’t authenticate on the level ICG does, most people won’t know that, and the value will be driven up by the prestige of the company. I personally don’t love either slab, and PCGS has been EXTREMELY unprofessional about this whole grading crypto coins now deal. Some stuff gets accepted and graded, some doesn’t, one person will reply to an email with one thing and the next email on the same topic a few hours later coming form a different employee gets a completely different answer.  NGC imo has the best slabs by far, but they suck even more as a company than PCGS.  Either which way, even ANACs slabs bring value to the coins. BUT..above all..for me it’s the coffin that keeps your coin as snug as can be and protected from the elements and that’s what I like. Grading I don’t even care about.

4) Concur. Auction houses potentially can really pay off, but then again they might not and to me it seems like such a hassle. The last Cas coin I sold I brokered through btalk, met the buyer at a very public location and it was a great experience that wouldn’t have been better any other way. But, that of course has its risks.

[SimpleThings]

If you going to sell it, i am  willing buying it with minerjones as escrow
Feel free to dm me