Category Archives: Casascius

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The 1,000 Bitcoin Casascius Made with a Troy Ounce of Pure Gold

Mike Caldwell, nicknamed Casascius, produced physical coins which contain Bitcoin from 2011 to 2013, which went on to become the most highly-regarded brand of physical Bitcoin.

This was done to make physical Bitcoin transactions easier and was accomplished by putting a piece of paper inside each coin with the private key. If the private key is removed, it exposes a glowing honeycomb, making it easy to know if the private key has been exposed. In 2013, Caldwell was forced to stop making Casascius coins after security regulators told him he was in violation of money transmission regulation.

The most valuable coin ever produced. pic.twitter.com/R47q1NpwAN

— Beautyon (@Beautyon_) August 19, 2018

The most valuable coin that Casascius produced has BTC 1,000 in it and is made with a troy ounce of pure gold. Only six of these were created. At the time, each was sold for USD 5,500, with the gold comprising a third of the coin’s value. Today, these golden 1,000 Bitcoin Casascius coins are worth around USD 6.5 million and were worth as much as USD 20 million during the rally in December 2017, with the gold being a minuscule fraction of the value. These values ignore the collector value of these coins, which may be significant. This just goes to show how profitable of an investment Bitcoin has been long term; this is an increase in value of over 118,000% for these coins as of 24 August 2018.

These golden 1,000 Bitcoin Casascius coins could be the most valuable coins in the entire world. If not, they may eventually be if experts are right and Bitcoin rises to USD 100,000. In that scenario, each of these coins would be worth USD 100 million. John McAfee says Bitcoin will hit USD 1 million, which would make these coins worth USD 1 billion each.

In 2013, two out of the six coins were opened and the Bitcoins transferred out. This was during the Bitcoin rally to USD 1,000. One of these fetched USD 1 million. The remaining four owners of the golden 1,000 Bitcoin Casascius coins are holding on tight.

 

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