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Moderator
 United States
189473 Posts |
Sounds like a plan.  Not sure I would (or could) spend it all on coins, but I might have to build the highest high grade Ike set.  I am sure the wife would have some input on the matter.  |
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Pillar of the Community
Canada
5402 Posts |
Could someone please explain just how you would redeem this ?
Resulting Tax implications ?
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Pillar of the Community
 United States
5192 Posts |
More like the greatest bubble ever.
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Bedrock of the Community
United States
12477 Posts |
I remain fairly ignorant regarding cryptocurrency, but I thought one of the key aspects is that it is not physical, so how would this item be worth that much?
In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
Edited by spru
10/05/2021 5:55 pm
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Pillar of the Community
United States
5192 Posts |
The item is worth what the bidder is willing to pay. You only need two people desperately bidding to get to the million dollar price tag.
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Pillar of the Community
United States
4680 Posts |
Quote:
I might have to build the highest high grade Ike set. You could build the top ten Ike sets and still be set! I'd sell it in a heartbeat! I too have stayed out of the crypto world. Though I have watched a few friends make more off crypto in a matter of months-years than I have total in my IRA  . Edited by Ty2020b
10/05/2021 9:23 pm
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Pillar of the Community
United States
7960 Posts |
Gosh, you guys are all SOOOOO cynical! 1. It was slabbed by PCGS so it is definitely a numismatic item (just like the cricket in that other thread). 2. Tax implications? It was bought for $4,905. When it is sold, I think all of the difference is long term capital gains. A tax accountant could help one to plan the best timing for selling such an item to manage that tax liability. Edited by tdziemia
10/06/2021 05:47 am
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Moderator
United States
189473 Posts |
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You could build the top ten Ike sets and still be set! Yes... Yes...  |
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Pillar of the Community
United States
3848 Posts |
Wait... I'm confused. Who says this is worth "1,000 Bitcoin"? Does that mean I can make my own bullion and put 1 million Bitcoin on it?  I see this coin as more of a token, and it shouldn't be the new most valuable coin of all time. I think it's also funny how they made the coin out of Bitcoin's counterpart, gold. Bitcoin is supposed to be the new gold... but it is literally made from gold  . Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. |
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Pillar of the Community
Russian Federation
5177 Posts |
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Wait... I'm confused. Who says this is worth "1,000 Bitcoin"? AFAICT it's backed in some way... either because it's got an electronic chip on it, or because it's tied to an account number. The article mentions that it (and apparently several others like it?) hadn't been redeemed. I know of some 1 BTC issues, and I've been told that most of those had been redeemed and are just pretty bits of metal. It does not surprise me that higher denominations exist; it does surprise me that they hadn't been redeemed. In any case, I wouldn't call it a coin (numismatic or otherwise), but it's definitely at least a token. |
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Bedrock of the Community
Australia
21788 Posts |
A digital record may? exist of the 1,000 Bitcoin breakup. In which case, this coin has numismatic and bullion value only. Competitor: the Perth Mint made a one tonne gold coin. That's 32,151 ounces of 1000 fine gold in a single coin Edited by sel_69l
10/07/2021 07:04 am
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Bedrock of the Community
United States
20753 Posts |
I too would sell that thing and buy lots of old cars.
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New Member
Mexico
25 Posts |
so what is this? A coin, a bullion or a token?  I guess this is a token and therefore part of the numismatics |
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Pillar of the Community
United States
4406 Posts |
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Wait... I'm confused. Who says this is worth "1,000 Bitcoin"? Inside the coin is basically a redemption code for 1000 BTC. You can't open the coin to see the code without breaking a tamper-proof hologram. Once redeemed, it is logged on a public website for everyone to see which coins are active or redeemed. At least that's my understanding from a quick google search. Edited by Tanman2001
10/09/2021 3:50 pm
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Pillar of the Community
United States
3848 Posts |
This bitcoin thing is all too confusing for me  Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. |
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Posted 10/05/2021 5:18 pm
