Casascius coin, often referred to as a physical Bitcoin, is a tangible representation of the digital cryptocurrency. These coins come in various designs, sizes, and types and are primarily collected by enthusiasts.

Origin

In 2011, Mike Caldwell introduced Casascius coins, which were among the first examples of “physical bitcoins.” These physical objects, resembling coins or bars, held actual Bitcoin within them.

However, production ceased in 2013 due to concerns raised by the Financial Crimes Enforcement Network (FinCEN), which questioned whether this activity qualified as money transmission, potentially requiring a license.

Rare and Valuable

Over a three-year period, Mike created and added value to a total of 27,938 Casascius coins and bars, amassing an estimated 91,262.8 BTC.

Their limited quantity and collectible nature make Casascius coins attractive investment opportunities, often trading at a premium over their “peel value,” which is the total cryptocurrency they contain.

It’s crucial to note that not all Casascius coins contain actual Bitcoin. They can be either “loaded” or “unloaded.” Loaded coins have the private key required to redeem the associated Bitcoin, while unloaded coins lack this key.

The concept of physical Bitcoins has inspired other similar projects. Various entities, such as Alitin Mint, Titan Bitcoin, Cryptmint coins, Antana coins, Ravenbit Satoshi coins, CoinedBits, and Lealana coins, have entered the scene, offering unique collectibles that blend technology and craftsmanship.

These physical Bitcoins provide a fascinating intersection between the digital realm of cryptocurrencies and the tangible world of collectibles, appealing to a niche audience of collectors and enthusiasts.