unredeemed physical bitcoin casascius/lealana selling advice - HA/stacks bowers?

I don't think I can be any more succinct than this....

 

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Generally speaking I don't understand any of this anyway. It's like owning stock with a fancy wrapper, and then you take it to auction where you know bidders are not going to go much above market value minus the 20% buyer fees? Instead of just cashing it in? People think there's value in the empty wrapper the stock came in? If a buyer is going to speculate and pay you more than current value, why wouldn't they just buy the stock outright instead of going to an auction and paying more for it? "In the end I lost about ~$70k in gains" - no, you didn't. By that logic, I've lost millions by not having the money to buy something at the right time and selling something at the right time. But like I said, I don't understand any of this imaginary currency stuff. As a very conservative person fiscally, I'll add that your 3 month investment horizon is nuts. You're swimming in a pool filled with a bunch of other get rich quick people and you might as well go to Vegas. Rant off.

 

@newdude12345 thank you for sharing your experience. That is an unfortunate result. I guess we have learned that it is best to sell these yourself or to just redeem them and then sell the coin on it's own (like you mentioned, I have seen the redeemed ones still bring decent money on eBay). One other thing (and this is obviously unpredictable), an issue was selling before the prices rose. Had prices fallen after the sale was over, the one benefit of an auction house like Stacks is that there would be no returns. On eBay, you risk someone returning the item or doing an improper chargeback.

 

In this case, the "coin" or token that holds the coin has value to collectors beyond the value of the crypto. Some are more rare than others. Think of the 2008 US Mint Buffalo Gold coins-it has the same amount of gold as you can buy today for not much over melt (in the form of many types of bullion bars, rounds, or coins) but due to the low mintage (and one year type for fractional pieces), there is a significant premium.

 

Silly revived conversation.
The subject is of the nature that propelled PT to everlasting fame.