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The World's Most Valuable Coin - The Gold Cas - Currently $48 million (value 10 years ago was $4905)

ianrussellianrussell Posts: 2,235 ✭✭✭✭✭

A month ago, I had posted about the world's most valuable coin not being the 1933 $20 (or Judd-1776/1849 $20).

And here it is...The Gold Cas - issued by Casascius in 2011, with one oz. of gold and 1000 Bitcoin and now graded by our host, PCGS. At the time (just 10 years ago), this could have been bought by all of us for under $5,000. In fact, one of our clients paid $4,905 for it on a whim.

Fast forward 10 years later, and it's worth over $48 million. Almost 10,000x return on investment. The numbers are staggering.

The World's Most Valuable Coin - The Gold Cas

  • Ian

Ian Russell
Owner/Founder GreatCollections
GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
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Comments

  • MgarmyMgarmy Posts: 2,062 ✭✭✭✭✭

    Holy hell!!!

    100% positive transactions with SurfinxHI, bigole, 1madman, collectorcoins, proofmorgan, Luke Marshall, silver pop, golden egg, point five zero,coin22lover

  • kazkaz Posts: 8,240 ✭✭✭✭✭

    :o

  • RampageRampage Posts: 9,221 ✭✭✭

    @ianrussell Thanks for posting this. It is very intriguing. I see it says 1000 bitcoin, but for those of us who are naïve about digital currency, can you help us understand how this is 1000 Bitcoin and not just an ounce of gold? I am not understanding the relationship if this with digital currency. Please take no offense to this, I am just asking. You are welcome to send me a private message if you prefer.

  • SmudgeSmudge Posts: 7,469 ✭✭✭✭✭

    The value of the coin is 1000 bitcoins so more of a Bitcoin investment than regular coin investment. I still wish it was mine.

  • tradedollarnuttradedollarnut Posts: 19,948 ✭✭✭✭✭
  • ianrussellianrussell Posts: 2,235 ✭✭✭✭✭

    @Rampage said:
    @ianrussell Thanks for posting this. It is very intriguing. I see it says 1000 bitcoin, but for those of us who are naïve about digital currency, can you help us understand how this is 1000 Bitcoin and not just an ounce of gold? I am not understanding the relationship if this with digital currency. Please take no offense to this, I am just asking. You are welcome to send me a private message if you prefer.

    Definitely no offense taken and it's a very good question.

    Apart from the one oz. of gold, there is a public key displayed on the reverse, printed on the tamper proof hologram. Under the hologram, there is a private key. You can see on Bitcoin Casiscius tracking websites that the public key is still valid, but no one has redeemed the 1000 BTC, which is only possible using the private key (with the public key).

    • Ian
    Ian Russell
    Owner/Founder GreatCollections
    GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
  • ianrussellianrussell Posts: 2,235 ✭✭✭✭✭

    @tradedollarnut said:
    3 of the big ones left unopened, eh?

    https://en.bitcoin.it/wiki/Casascius_physical_bitcoins

    There's one other one as well, for a total of four that have not been redeemed yet.

    • Ian
    Ian Russell
    Owner/Founder GreatCollections
    GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
  • RampageRampage Posts: 9,221 ✭✭✭

    @ianrussell said:

    @Rampage said:
    @ianrussell Thanks for posting this. It is very intriguing. I see it says 1000 bitcoin, but for those of us who are naïve about digital currency, can you help us understand how this is 1000 Bitcoin and not just an ounce of gold? I am not understanding the relationship if this with digital currency. Please take no offense to this, I am just asking. You are welcome to send me a private message if you prefer.

    Definitely no offense taken and it's a very good question.

    Apart from the one oz. of gold, there is a public key displayed on the reverse, printed on the tamper proof hologram. Under the hologram, there is a private key. You can see on Bitcoin Casiscius tracking websites that the public key is still valid, but no one has redeemed the 1000 BTC, which is only possible using the private key (with the public key).

    • Ian

    Ahhh, excellent. Now I understand. Thank you for helping me understand.

  • ianrussellianrussell Posts: 2,235 ✭✭✭✭✭
    edited October 4, 2021 6:39PM

    If anyone wants to read the original sales thread about the Gold Cas, here is the message board posting from December 2011 offering the coin for approximately $5,000 (it was calculated at gold melt + premium + BTC value):

    Now Here: Casascius 1000 BTC Fine Gold Coin

    Some of the posts are classic with the benefit of hindsight.

    "If we ever hit $30 again"

    "Nice coin, did anyone buy these around the time thread was made? Would have doubled their money?"

    • Ian
    Ian Russell
    Owner/Founder GreatCollections
    GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
  • scubafuelscubafuel Posts: 1,358 ✭✭✭✭✭

    This would scare the heck out of me if I owned it. Someone else (possibly) knows your private key to 1000 Bitcoin!

    And yeah, if Bill Gates scratched a $1bn IOU onto an Ike that might win also, but I kinda feel like a coin should have value based on its own merits…

    Coin-specific photobucket alternative:
    CollectiveCoin

    Check it out!
  • JBKJBK Posts: 10,411 ✭✭✭✭✭

    @Weiss said:
    Fascinating. But I disagree that it is the world's most valuable coin.
    Scratching the combination to a safe stuffed with gold and jewels onto the surface of the coin doesn't make the coin valuable. It's the contents within the safe.

    Perhaps technically the "coin" is worth millions in it's current format, but I tend to agree with the above reasoning.

    If you write the bitcoin "key" on a piece of paper and seal that in an envelope, does that envelope become the most valuable philatelic cover/item in existence? If you lock the code in the glove compartment of your car, is your car now worth $48 million?

    Perhaps the coin could be compared to a scratch-off lottery ticket, but a winning ticket needs to be surrendered, like a check, to be redeemed. In the case of the coin, it bears a code that is utilized digitally, independent of the coin.

    These physical Bitcoins always sort of confused me, since they represent everything that Bitcoin is not supposed to be.

  • gumby1234gumby1234 Posts: 1,347 ✭✭✭✭✭

    Cryptocurrency assets are unregulated and speculative, and there’s not enough data to make any sort of concrete predictions about how your investment may grow in the future. 
    It could end up being just a 1oz gold round someday.

    MS66 and MS67 Roosevelt dimes in old Anacs and old NGC slabs for sale or trade. 46 to 64pds most date/mm available.

    Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest.

  • ms71ms71 Posts: 1,081 ✭✭✭✭
    edited October 5, 2021 4:25AM

    It takes a great deal of faith to believe that the hidden "private key" is unknown and unknowable to anyone except the holder of the coin; or, indeed, that there is in fact a valid key beneath the hologram.

    Successful BST transactions: EagleEye, Christos, Proofmorgan,
    Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew

    Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't an optical illusion, it only looks like an optical illusion.

    My mind reader refuses to charge me....
  • amwldcoinamwldcoin Posts: 9,701 ✭✭✭✭✭
    edited October 5, 2021 4:27AM

    @ianrussell So has it been consigned to Great Collections? Be interesting to see how it can be proven the coin hasn't been redeemed. Is that easily accessible to those of us who are totally ignorant and don't have an interest in the Crypto Fiat System?

  • ThreeCentSilverFLThreeCentSilverFL Posts: 1,244 ✭✭✭✭✭

    I remember those. The ultimate cold storage. 4 left, wow.

  • gumby1234gumby1234 Posts: 1,347 ✭✭✭✭✭

    The hologram protecting the key is tamperproof and when removed leaves a honeycomb pattern.

    MS66 and MS67 Roosevelt dimes in old Anacs and old NGC slabs for sale or trade. 46 to 64pds most date/mm available.

    Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest.

  • KeshequaKeshequa Posts: 51 ✭✭

    Too bad tulip bulbs were never tpg’d.

    Buying and Selling coins for 54 years, 700+ shows in last 20 years, and boy am I tired.
    Purchased and Trademarked the Mohawk Valley Hoard
    Originated the Rochester (NY) Area Coin Expo

  • JBKJBK Posts: 10,411 ✭✭✭✭✭

    @gumby1234 said:
    The hologram protecting the key is tamperproof and when removed leaves a honeycomb pattern.

    For much less than $48 million I would think you could buy the technology to create a new hologram to stick over the key after peeking at it. ;)

  • tradedollarnuttradedollarnut Posts: 19,948 ✭✭✭✭✭

    Personally, it’s actually the world’s LEAST valuable coin. Why? Because it’s got just that much of doubt if the Bitcoin code is there - there’s simply no way to determine if it truly is. So of that $48M Bitcoin worth, I’d assign a -5% risk premium to the coin.

    So it’s actually worth negative $2.4M

  • YQQYQQ Posts: 3,055 ✭✭✭✭✭

    Any takers? with that kind of freewheeling money? like pocket change?
    you can not compare it with the Aussie gold coin as that is REAL hard gold.

    Today is the first day of the rest of my life
  • DollarAfterDollarDollarAfterDollar Posts: 2,735 ✭✭✭✭✭

    Well, if the US ever comes to it's senses and mints a trillion dollar platinum coin it won't be.

    If you do what you always did, you get what you always got.
  • CaptHenwayCaptHenway Posts: 29,413 ✭✭✭✭✭

    Not a COIN.

    Winner of the ANA's 2020 Heath Literary Award, Wayte and Olga Raymond Literary Award, and Lifetime Achievement Award. Winner NLG 2020 Best Numismatic Feature Article, U.S.
  • tradedollarnuttradedollarnut Posts: 19,948 ✭✭✭✭✭
    edited October 5, 2021 9:33AM

    @ianrussell said:

    @tradedollarnut said:
    Personally, it’s actually the world’s LEAST valuable coin. Why? Because it’s got just that much of doubt if the Bitcoin code is there - there’s simply no way to determine if it truly is. So of that $48M Bitcoin worth, I’d assign a -5% risk premium to the coin.

    So it’s actually worth negative $2.4M

    I'd like to buy one from you at your price. You can send me the $2.4 million now and the coin in the future.

    • Ian

    Actually, the proper format is you give me $50M and I’ll give you my promise of 10000 Bitcoin. When you look at it that way, I kinda doubt you’d take me up on it. I mean I’m probably good for it…only a few instances of Bitcoin custody not working out.

  • ianrussellianrussell Posts: 2,235 ✭✭✭✭✭

    @tradedollarnut said:

    @ianrussell said:

    @tradedollarnut said:
    Personally, it’s actually the world’s LEAST valuable coin. Why? Because it’s got just that much of doubt if the Bitcoin code is there - there’s simply no way to determine if it truly is. So of that $48M Bitcoin worth, I’d assign a -5% risk premium to the coin.

    So it’s actually worth negative $2.4M

    I'd like to buy one from you at your price. You can send me the $2.4 million now and the coin in the future.

    • Ian

    Actually, the proper format is you give me $50M and I’ll give you my promise of 10000 Bitcoin. When you look at it that way, I kinda doubt you’d take me up on it…

    It can be independently verified that the BTC has not been redeemed.

    And if you owned it, you can redeem it and have it stored elsewhere if you wish.

    • Ian
    Ian Russell
    Owner/Founder GreatCollections
    GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
  • coinkatcoinkat Posts: 20,793 ✭✭✭✭✭

    Not a coin...

    Experience the World through Numismatics...it's more than you can imagine.

  • tradedollarnuttradedollarnut Posts: 19,948 ✭✭✭✭✭
    edited October 5, 2021 9:56AM

    @ianrussell said:

    @tradedollarnut said:

    @ianrussell said:

    @tradedollarnut said:
    Personally, it’s actually the world’s LEAST valuable coin. Why? Because it’s got just that much of doubt if the Bitcoin code is there - there’s simply no way to determine if it truly is. So of that $48M Bitcoin worth, I’d assign a -5% risk premium to the coin.

    So it’s actually worth negative $2.4M

    I'd like to buy one from you at your price. You can send me the $2.4 million now and the coin in the future.

    • Ian

    Actually, the proper format is you give me $50M and I’ll give you my promise of 10000 Bitcoin. When you look at it that way, I kinda doubt you’d take me up on it…

    It can be independently verified that the BTC has not been redeemed.

    And if you owned it, you can redeem it and have it stored elsewhere if you wish.

    • Ian

    I agree. But can it be independently verified that there wasn’t an error in placing the key inside this coin? It might not be there at all, it might have an error on it, it might have degraded to the point it’s unreadable. Who knows. And we’ve all heard the stories of $100M code lost in the dump and no way to get the money out.

    I personally wouldn’t take the risk without a discount. And that’s why I assert the coin actually has negative value

    Cool concept at the time, though - and what a purchase!

  • tincuptincup Posts: 4,022 ✭✭✭✭

    Not for long.... if the US government mints a one trillion dollar platinum coin that is now being considered. Not a joke as far as I can tell.

    https://axios.com/trillion-dollar-platinum-coin-mint-janet-yellen-223e7722-d7ba-47c9-b5f6-49a841d181de.html

    ----- kj
  • ms71ms71 Posts: 1,081 ✭✭✭✭

    Imagine yourself a guy of relatively average means, far from rich. You bought on of these at $4900 when that's what they went for. Better keep your eye on the proposal to tax "unrealized gains" (in the Dems' $3.5 trillion spending bill that they want to pass with the reconciliation process). I'm sure there's a record of you having purchased it. Guess you'd have to cash in at least part of it to pay the tax on your unrealized gain of $48 million.

    Successful BST transactions: EagleEye, Christos, Proofmorgan,
    Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew

    Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't an optical illusion, it only looks like an optical illusion.

    My mind reader refuses to charge me....
  • scubafuelscubafuel Posts: 1,358 ✭✭✭✭✭

    There would be no unrealized gains tax since nobody can prove that you actually own the btc connected to that public key. They're Schrodinger's coins!

    Assuming the private key is behind the hologram, someone put it there. So somebody besides the current coin's owner can plausibly also access those coins at any time.

    Coin-specific photobucket alternative:
    CollectiveCoin

    Check it out!
  • CaptHenwayCaptHenway Posts: 29,413 ✭✭✭✭✭

    @yosclimber said:

    Cool story, but it has to compete with the Australian 1 Tonne (1000 kg) gold coin in terms of "most valuable".
    The current gold price per kg is $56,882.90 .
    So the Australian 1 Tonne is currently valued $56.88 million, and beats $48 million for this 1000 bitcoin.
    https://www.perthmint.com/1-tonne-gold-coin.aspx

    Don’t confuse them with the facts……

    Winner of the ANA's 2020 Heath Literary Award, Wayte and Olga Raymond Literary Award, and Lifetime Achievement Award. Winner NLG 2020 Best Numismatic Feature Article, U.S.
  • jmlanzafjmlanzaf Posts: 20,582 ✭✭✭✭✭

    @tradedollarnut said:
    Personally, it’s actually the world’s LEAST valuable coin. Why? Because it’s got just that much of doubt if the Bitcoin code is there - there’s simply no way to determine if it truly is. So of that $48M Bitcoin worth, I’d assign a -5% risk premium to the coin.

    So it’s actually worth negative $2.4M

    It can't be the LEAST valuable. There's still an ounce of gold there.

  • WAYNEASWAYNEAS Posts: 3,260 ✭✭✭✭✭

    Disregarding the pros and cons here,
    That is one "purrdey" coin in the holder. LOL
    Wayne

  • gumby1234gumby1234 Posts: 1,347 ✭✭✭✭✭

    Ever lost a password? Or ever lost a coin?

    MS66 and MS67 Roosevelt dimes in old Anacs and old NGC slabs for sale or trade. 46 to 64pds most date/mm available.

    Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest.

  • orevilleoreville Posts: 11,331 ✭✭✭✭✭

    It should be called a token or a fantasy token.

    A bittoken?

    A Collectors Universe poster since 1997!
  • cameonut2011cameonut2011 Posts: 8,573 ✭✭✭✭✭
    edited October 10, 2021 9:05AM

    I’d sell it now before the capital gains tax rate increases given all of the tax talk in DC and retire early.

  • orevilleoreville Posts: 11,331 ✭✭✭✭✭

    One of my clients who has one of these 2012 1000 BTC could not convince me to buy one of them at $5000 each. I bought a 1 BTC token instead for $50 more out of curiosity.

    I bought a few of Daniel Carr's 2012 1000 Amero 1 oz gold fantasy tokens in addition.

    A Collectors Universe poster since 1997!
  • cameonut2011cameonut2011 Posts: 8,573 ✭✭✭✭✭

    Is this going to be a future GC offering?

  • GazesGazes Posts: 2,145 ✭✭✭✭✭

    A common theme I've seen over the last few decades----"i wish I could go back in time when there was the ability to make huge fortunes. Those opportunities arent around anymore." Here is a coin that did exactly that. Yes, it required outside the box thinking and risk. And I gurantee there are opportunities out there now.

  • LanceNewmanOCCLanceNewmanOCC Posts: 15,271 ✭✭✭✭✭

    i'd love to have been a fly on the wall at pcgs when discussing whether to take the risk to certitfy an item with such a potentially high value like this.

    seems like a niche all it's own, not like comics, cards, numismatic item etc or anything else that is en masse being certified by a reputable firm.

    since there were only a few made, perhaps that helps matters. counterfeiting one and selling it would not be easy (not impossible) but then again how many multi-million dollar forged/counterfeited works of art, sculpture etc are out there that are unique, as in only one ever made?

    numismatics has plenty of private and public manufacturers in its ranks of items. i guess technically, this would not be exempt. digital and partially digital assets are here and here to stay. i've been digging more into nfts and the corresponding accounts necessary to create, buy, trade, sell etc and it is BIG both in scale and assigned (perceived) value.

    will be quite interesting to see how this plays out as this much juice changes an awfully lot.

    thanks for sharing it @ianrussell .

    <--- look what's behind the mask!

  • LanceNewmanOCCLanceNewmanOCC Posts: 15,271 ✭✭✭✭✭

    @cameonut2011 said:
    Is this going to be a future GC offering?

    from the publicity page of GC:

    "The owner of the world's most valuable numismatic item admits it "was definitely a stretch to make the purchase" a decade ago, but he's not tempted to sell it now even after its astounding increase in value."

    <--- look what's behind the mask!

  • BStrauss3BStrauss3 Posts: 1,859 ✭✭✭✭✭

    @ms71 said:
    It takes a great deal of faith to believe that the hidden "private key" is unknown and unknowable to anyone except the holder of the coin; or, indeed, that there is in fact a valid key beneath the hologram.

    There were two independent websites that track these based on the public blockchain. One site is down and one is still live: https://casascius.uberbills.com/.

    https://casascius.uberbills.com/?address=1Au1uZnK87eUMoJKRL9S3wroM29AiUQtL5

    The public address can be verified on any of the blockchain explorers (e.g. https://www.blockchain.com/search?search=1Au1uZnK87eUMoJKRL9S3wroM29AiUQtL5), which does give you confidence the value is still there.

    The coin is actually worth a little more than Ian indicated because it was created before the BTC/BCH split, so the address is valid for 1000 Bitcoin AND 1000 Bitcoin Cash (present value about $603 per or another $603,000).

    -----Burton
    ANA 46 year/Life Member
  • ianrussellianrussell Posts: 2,235 ✭✭✭✭✭

    @yosclimber said:

    Cool story, but it has to compete with the Australian 1 Tonne (1000 kg) gold coin in terms of "most valuable".
    The current gold price per kg is $56,882.90 .
    So the Australian 1 Tonne is currently valued $56.88 million, and beats $48 million for this 1000 bitcoin.
    https://www.perthmint.com/1-tonne-gold-coin.aspx

    Thanks for this information, I did not know about the Australian coin.

    Thankfully, the Gold Cas has increased enough in the past week to surpass the Australian 1 Tonne coin. The Gold Cas is currently worth over $57 million for the 1000 BTC and the BCH split as @BStrauss3 correctly points out, and of course, the 1 oz. of gold.

    In the past week, the Gold Cas has increased by $8 million.

    • Ian
    Ian Russell
    Owner/Founder GreatCollections
    GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
  • ianrussellianrussell Posts: 2,235 ✭✭✭✭✭

    @cameonut2011 said:
    Is this going to be a future GC offering?

    The owner is not planning on selling the Gold Cas, but of course, we're always open to auctioning $50 million items. :smile:

    We have auctioned 1 BTC Casascius coins previously, and have a 25 BTC at the moment.

    • Ian
    Ian Russell
    Owner/Founder GreatCollections
    GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
  • orevilleoreville Posts: 11,331 ✭✭✭✭✭

    What does Casascius stand for?

    A Collectors Universe poster since 1997!

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