I was given an actual casascius bitcoin minted in 2011 as a tip, and I'd like to know where I can exchange it for US dollars.
How would I extract the private key from this coin to gain access to the digital bitcoins if I were to sell them online?
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By physical Bitcoin, do you mean one of these? https://www.casascius.com/ – Nick ODell Jan 04 '15 at 17:56
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related: http://bitcoin.stackexchange.com/questions/17768/i-bought-a-bunch-of-2009-bitcoins-the-actual-coin-how-can-i-cash-the-coin-in – Nick ODell Jan 04 '15 at 17:59
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that looks like the one. with the code on the back – user21748 Jan 04 '15 at 18:27
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I was hoping to just be able to take it to the bank to exchange it. It's the 1B brassy one. – user21748 Jan 04 '15 at 18:28
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You have two routes here:
Sell the physical Bitcoin
Don't remove the sticker on the back. Use a website like localbitcoins to sell it to someone near you.
Some people might want a physical Bitcoin, especially since they're not being made anymore.
Sell the Bitcoin 'contained' within the physical coin.
Peel off the sticker on the back. Inside will be a code that lets you spend the Bitcoin. (I recommend using Blockchain.info as your e-wallet.) You can sell the Bitcoin online or locally.
The remaining brass part is mostly worthless.
Nick ODell
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I was looking for more of a "physical walk in place" to take it to rather than all the online jargon wallet things. My bank should be able to cash this for me, right? – user21748 Jan 04 '15 at 19:31
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@user21748 let us know how that works out but I can't see it happening. I'd sell the coin whole on eBay. Anyone not into Bitcoin either won't care, or won't pay market rate – Wizard Of Ozzie Jan 05 '15 at 05:10