A new coin has usurped the Flowing Hair Dollar’s gilded throne. When Bitcoin broke well over $10,000, the Casascius 1000 BTC gold coin became worth more than its weight in gold. At the time of writing, one of these coins is worth a hefty $10,622,000. So long as Bitcoin maintains a price above $10,017, Casascius’ 1000 BTC will retain its title as the most valuable physical coin in the world
Casascius, the pen name of Bitcoin user Mike Caldwell, began minting physical Bitcoins in 2011. Each coin came backed by brass, silver, or gold and included the digital Bitcoin(s)’s private key imprinted on the coin’s reverse side. His production included an original and second series 1 BTC coin, a 10 BTC silver round, a 25 BTC coin, a 100 BTC gold plated bar, a 1000 BTC gold plated bar, and the crown jewel, the 1000 BTC troy oz. gold coin. Unfortunately, Casascius ceased production in 2013 after the United States Financial Crimes Enforcement Network demanded that he federally register his business.
But that didn’t stop him from minting five 1000 BTC coins before he had to close shop. This scarcity has made them a collector’s item, but the price of Bitcoin as a cryptocurrency is what’s really driving the value of this coin.
Back in March 2015, you could reasonably buy one for $300,000, but as Bitcoin continues to climb up the five figure price range, a “reasonable” price of $15,000,000 or even $20,000,000 may be more realistic in the near future. The troy ounce of gold that comprises the coin makes it a pretty sight, but it’s crypto’s king that makes this asset a pocket-sized goldmine. And if Bitcoin continues to rise, the mine won’t dry up anytime soon.
