A Casascius coin is a physical Bitcoin coin that contains a private key to a certain amount of BTC, protected under a hologram. It’s essentially a cold wallet in the form of a collectible coin.
Key facts:
- Creator: Mike Caldwell, a U.S. programmer.
- Years produced: 2011–2013.
- Materials: brass, bronze, sometimes silver or gold.
- Denominations: from 0.1 to 1000 BTC.
- Security: private key hidden under a hologram. Once removed, the coin is considered “redeemed”.
How does it work?
- Each coin includes a Bitcoin wallet address and a private key, hidden under a tamper-evident hologram.
- As long as the hologram is intact, the BTC inside are untouched.
- To access the funds, the hologram must be peeled off and the key used in a wallet.
Why is it valuable?
- Historic rarity – production stopped in 2013 due to regulatory concerns in the U.S.
- Collector’s value – unopened coins are highly sought after by crypto collectors.
- Financial value – if BTC is still inside, the coin can be worth millions.
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