In the world of cryptocurrency, Bitcoin is the most popular and widely used digital currency. However, some people prefer to have a physical representation of their digital assets. This is where Casascius Coin comes in. In this article, we will discuss the history, types, and denominations of Casascius Coin.

What is Casascius Coin?

Casascius Coin is a physical representation of Bitcoin. It was created by Mike Caldwell, also known as Casascius, in 2011. The coins are made of brass and have a hologram on the back that contains the private key to the Bitcoin address. The hologram is tamper-evident, which means that if it is removed, the private key is no longer valid.

History of Casascius Coin

Casascius Coin was first introduced in 2011 and quickly gained popularity among Bitcoin enthusiasts. The coins were sold in denominations of 1, 10, 25, 100, and even 1000 Bitcoins. Each coin had a unique hologram that contained the private key to the Bitcoin address.

In 2013, the Financial Crimes Enforcement Network (FinCEN) issued guidance that stated that anyone who creates, sells, or exchanges virtual currency is considered a money transmitter and must comply with the Bank Secrecy Act. This meant that Casascius Coin was considered a physical form of virtual currency and was subject to the same regulations as other virtual currencies.

In 2013, Mike Caldwell stopped selling Casascius Coin due to regulatory concerns. However, the coins are still available on the secondary market.

Types of Casascius Coin

Casascius Coin comes in various designs, sizes, and types. The most common type is the brass coin, which has a hologram on the back that contains the private key to the Bitcoin address. The hologram is tamper-evident, which means that if it is removed, the private key is no longer valid.

There are also silver and gold-plated versions of the Casascius Coin. These coins are more valuable than brass coins due to their rarity and the fact that they contain more precious metals.

Denominations of Casascius Coin

Casascius Coin is available in denominations of 1, 10, 25, 100, and 1000 Bitcoins. The 1 Bitcoin coin is the most common and is the easiest to find on the secondary market. The 1000 Bitcoin coin is the rarest and is the most valuable.

The value of Casascius Coin is determined by the current market value of Bitcoin. For example, if the current market value of Bitcoin is $50,000, then a 1 Bitcoin Casascius Coin would be worth $50,000.

How to Buy Casascius Coin

Since Mike Caldwell stopped selling Casascius Coin in 2013, the coins are only available on the secondary market. The best place to buy Casascius Coin is on online marketplaces such as eBay or Amazon. However, it is important to be cautious when buying Casascius Coin on the secondary market, as there are many counterfeit coins in circulation.

It is recommended to only buy Casascius Coin from reputable sellers who have a history of selling authentic coins. It is also important to verify the authenticity of the coin by checking the hologram and the private key.

Conclusion

Casascius Coin is a physical representation of Bitcoin that was created by Mike Caldwell in 2011. The coins are made of brass and have a tamper-evident hologram on the back that contains the private key to the Bitcoin address. Casascius Coin is available in denominations of 1, 10, 25, 100, and 1000 Bitcoins. The coins are no longer sold by Mike Caldwell due to regulatory concerns, but they are still available on the secondary market. When buying Casascius Coin on the secondary market, it is important to be cautious and only buys from reputable sellers.