What Is Casascius Coin?

UTC by Beatrice Mastropietro · 6 min read
What Is Casascius Coin?
Photo: Unsplash

Casascius coin is a physical Bitcoin unit in various designs, sizes, and types. In this guide, we will discuss the history of Casascius coins, how they have become popular, and give some tips on how to get some.

If you’re looking for a genuinely unique Bitcoin (BTC) experience, look no further than the Casascius Coin. These physical Bitcoins were first released in 2011 by Mike Caldwell, and they remain one of the most popular and collectible items in the cryptocurrency world.

Each Casascius Coin is made of high-quality brass, and each one is embossed with a unique Bitcoin address. You can use these coins just like you would any other Bitcoin by sending them to an online wallet or exchange or using them to make purchases.

But the Casascius Coin also has a very special place in Bitcoin history. These coins were some of the first physical bitcoins to be released, and they remain highly sought-after items among collectors and enthusiasts.

So if you’re looking for a true one-of-a-kind Bitcoin experience, pick up a Casascius Coin today.

Casascius Coin: Tangible Bitcoin

Casascius Coins are physical Bitcoin representations and are a great way to store Bitcoins offline in a physical, tangible form. Each coin is loaded with a predetermined amount of Bitcoin. The private key is securely sealed inside the coin. You can view the current BTC balance by visiting blockchain.info and entering the public key from the coin.

Casascius Coin was created in 2011 by Mike Caldwell, a software engineer from Utah, USA. The physical Bitcoins are made of brass, with a 30mm diameter. They weigh about one ounce (28 grams) and are slightly thicker than a normal coin, at about 3mm. The front of each coin is stamped with a unique Bitcoin address, and the back is stamped with a hologram that shows a tamper-proof design. They are minted onto brass plated steel rounds with a hologram sticker on one side. Underneath the hologram is a tamper-evident serial number, and underneath THAT is a private key printed in tiny font. The private key can be revealed by scratching off the hologram.

The value of each Casascius Coin is equivalent to the value of the Bitcoin stored inside it. For example, if you have 1 Casascius Coin, it contains one whole Bitcoin. These coins are not divisible, so you’ll need to send the change back to yourself if you want to spend less than an entire bitcoin.

The advantage of using Casascius Coins is that they provide a tangible way to store and spend bitcoins. They also make it easy to give someone else a specific amount of Bitcoin. For example, if you wanted to give someone 1 BTC, you could simply give them a 1 BTC coin.

Casascius Coins are no longer being produced, but they can still be found on the secondary market.

How Casascius Coin Works

Each Casascius Bitcoin is a collectible coin backed by real Bitcoins embedded inside. A tamper-resistant hologram sticker protects the private key to unlock the BTC. You can hold one in your hand and know that there are actual Bitcoins stored inside. Each coin comes with its Bitcoin address and private key printed on a paper wallet.

Redeeming Casascius Bitcoins is as easy as peeling off the hologram sticker to reveal the private key, then sweeping the coin’s full balance into your Bitcoin wallet.

How to Purchase Casascius Coin

If you’re looking for a physical representation of your Bitcoin holdings, Casascius Coins is excellent.

Here’s a step-by-step guide on how to purchase your own Casascius Coin.

  1. The first step is to find a reputable dealer that sells Casascius Coins. A few different options are available, but the best place to start is probably with Bitmit.net. This website specializes in Bitcoin-related items, and they have a good selection of Casascius Coins to choose from.
  2. Once you’ve found a dealer, it’s time to choose the right coin for your needs. There are three different sizes of Casascius Coins: 1 BTC, 10 BTC, and 25 BTC. The larger the coin, the more expensive it will be, but also the more convenient it will be to store larger amounts of BTC on it. If you’re only looking to store a small amount of Bitcoin, the 1 BTC coin should be plenty. But if you’re planning on storing larger amounts, you may want to consider getting one of the larger coins.
  3. Once you’ve decided on the right coin, it’s time to make your purchase. Usually, there is a variety of payment methods, so you should be able to find one that suits your needs. If you’re paying with Bitcoin, the process is pretty straightforward. Just send the appropriate amount of BTC to the dealer’s address, and you’ll receive your coin in the mail shortly after that. But if you’re paying with fiat currency, things are more complicated.
  4. Once you’ve received your Casascius Coin, it’s time to store your BTC on it. The first thing you’ll need to do is remove the hologram from the coin. This will reveal a private key that you can use to access your BTC. It’s important to keep this private key safe, as it is the only way to access your BTC. If you lose it, you will no longer be able to spend or sell your Bitcoin.

Interesting Facts about Casascius Coin

There are quite a number of interesting facts about the Casascius coin. Perhaps the most impressive of these is that it is one of the largest and heaviest physical Bitcoins in existence, weighing in at a whopping 28 grams. The coin also has a rather high denomination, with each one worth 1,000 virtual Bitcoins.

Other interesting facts about the Casascius coin include its security features. The coin is made out of brass and has a hologram on its surface that contains the Bitcoin logo and a tamper-proof seal. The private key to the Bitcoins stored on the coin is hidden beneath this hologram, making it virtually impossible to copy or counterfeit.

The creator of the Casascius coin, Mike Caldwell, began minting them in 2011 and continued to do so until 2013. At its peak, Caldwell was selling around 500 coins per month. However, due to concerns about the legal status of Bitcoin, Caldwell stopped minting the coins in 2013.

Despite these concerns, Caldwell continued to sell the existing inventory of Casascius coins until November of that year, when he finally shut down his business.

Since then, the value of each Casascius coin has skyrocketed. In December 2013, one coin sold for $1000 on eBay. As of June 2017, the price of a single Casascius coin reached as high as $28000.

This incredible increase in value is significant because only a limited number of Casascius coins exist now. With only about 11000 coins minted, they are now some of the rarest and most sought-after physical Bitcoins.

Bottom Line

Casascius coin is a physical Bitcoin that contains one BTC stored in a private key hidden underneath a tamper-evident hologram. Casascius coins are a great way to store Bitcoin offline in a physical form. The only downside of Casascius coins is that they’re no longer being produced, so they can be hard to find and relatively expensive. However, if you can get your hands on one, they’re worth investing in.

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FAQ

What is Casascius Coin?

Casascius coin is a physical bitcoin created by Mike Caldwell in 2011. The coin is brass and contains a certain amount of digital Bitcoins. The idea behind the coin is that it can be used as a regular currency, but with the added security of the blockchain.

How does Casascius Coin look like?

The physical Casascius Coin is a weighty coin, similar in size and appearance to a US silver dollar. It contains a unique Bitcoin address embedded within the coin. 

How does Casascius Coin work?

The Casascius Coin is a physical Bitcoin that contains a private key. The coin is then distributed to the public through an online auction. The person who buys the coin can then use it to purchase or transfer funds.

How to buy Casascius Coin?

There are a few different ways to go about purchasing Casascius Coins. The easiest method is to find someone already selling them and purchase from them directly. Some online retailers sell the coins, and sometimes you can find them for sale on auction websites like eBay.

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