Description
When the first bar was funded in November 2011, its contents would have been worth about 350 USD. For this reason it is quite understandable why two-thirds of owners rushed to redeem their bars in order to sell their precious contents as the value of
BTC rose. As far as Casascius coins go, it is normal for the percentage of redeemed coins to be relatively low; the opposite is true when it comes to bars. Bars have a very high rate of redemption. This might be caused by a presumption that they were not as collectible or valuable as coins. The ‘purchase price’ (premium) of bars was a low percentage of the actual value contained in them, as opposed to coins (a 5 BTC coin was sold for 6 BTC; a 20 percent premium).
