A “stretch” for the investor to buy in 2011, the 1000 BTC “Gold Cas” has increased in value a staggering 9,786 times since then and is now the world’s most valuable numismatic item
Posted: October 4, 2021 at 2:12 p.m. EDT|Update: 3 hours ago
IRVINE, Calif., October 4, 2021 / PRNewswire / – Not found for a decade and forgotten for several years in a desk drawer, a one ounce gold coin with a face value of 1,000 Bitcoins (BTC) bought in december 2011 for $ 4,905 worth now $ 48 million to the Monday morning BTC value, October 4, 2021.
âThis is the best return on investment for any numismatic item, an incredible 9,786 times the purchase price. “
The owner of the world’s most valuable numismatic admits that it “was certainly difficult to buy” ten years ago, but he is not tempted to sell it now, even after its incredible increase in value.
âThis is the best return on investment for a numismatic item, an incredible 9,786 times the purchase price in just ten years. It could be the largest investment in the world over this period,â said Ian russell, President of GreatCollections of Irvine, California (www.GreatCollections.com) whose client owns the physical 1,000 Bitcoins gold coin.
âIt was really difficult to make the purchase in 2011 because I didn’t really know what Bitcoin was or how I was going to redeem it someday,â the anonymous owner of the coin said in a written statement. “I remember trying to decide to buy this part for $ 4,905 or whether to buy two gold bars – approximately $ 4000 at the time, but luckily I chose the ‘Gold Case’. “
The cryptocurrency community refers to the 1,000 BTC coin as the âGold Casâ. It is a reference to “Casascius”, the brand of BTC coins produced from 2011 to 2013. The company was established by Mike Caldwell to create physical “Casacius coins” in increments of 0.1, 0.5, 1, 5, 10, 25, 100 and 1000 BTC units. Caldwell also produced BTC bullion.
Only six 1,000 BTC Casascius gold coins were made and four of them were not redeemed, including the one owned by Russell’s client.
âI was looking to buy gold and at the time, in 2011, it hit an all-time high and was reported almost daily in the newspapers, alongside articles on Bitcoin and cryptocurrency,â recalled the owner of the room. âMost of the stories were negative about Bitcoin at the time, but as the newspapers gave it space, I thought there might be more. The ‘Gold Case’ caught my eye because he was combining gold and bitcoin. “
He added: “When I bought the part for $ 4,905, I really had no idea of ââthe potential, otherwise I would have bought more than one! After the purchase, I forgot it, leaving it in a desk drawer. That changed at the end of 2013 when I saw a headline on the value of Bitcoin $ 1,000, and it hit me that the coin I bought for $ 4,905 suddenly worth $ 1 million. This made me understand what Bitcoin is all about, and since that time I have been watching it closely. As the coin’s value increased to $ 1 million, there were other milestones that I remember, like when he reached the $ 10 million mark then again to $ 25 million. “
“The value of the ‘Gold Cas’ eclipses classic rare pieces, like the 1933 Saint-Gaudens Double Eagle gold recently auctioned by Sotheby’s for $ 18,872,250 and owned by another GreatCollections customer, or the 1804 Sultan of Muscat draped bust silver dollar that we recently bought at auction for $ 7,680,000 on behalf of a client, âRussell said.
“It is the ultimate 21st century collector’s item, fusing gold and cryptocurrency; a cultural phenomenon considering the large number of people under the age of 30 who own cryptocurrency as an investment,” said he declared.
Russell has stated that the current owner of this 1000 BTC gold is not the alleged founder of the digital currency Bitcoin, Satoshi Nakamoto. It has been suggested that the founder of Bitcoin owns iconic Bitcoin objects such as the âGold Casâ.
The 1,000 BTC coin now resides in an overseas bank vault and is not for sale as the owner is bullish on Bitcoin’s long-term prospects. However, Russell has announced that a gold-plated 25 BTC coin will be offered without reservation by GreatCollections in an auction that will end on 14 november.
“The auctions will start at $ 1, although I predict that 25 BTC will sell for more than $ 1 millionRussell predicted.
Russell submitted the 1,000 and 25 BTC coins in armed custody for certification to the Professional Coin Grading Service in Santa Ana, California. The 1,000 BTC gold coin is rated PCGS Proof 70 (on a numismatic rating scale from 1 to 70) Deep Cameo, and the 25 BTC is PCGS Mint State 67 certified.
Regarding the “Gold Cas”, interim president of PCGS Stephanie Sabin said, “This coin stands out for its cultural significance in the merging of the cryptocurrency and traditional numismatic worlds. Combine that with the staggering value of the Bitcoins it contains and we have a new Goliath.”
For more information, contact GreatCollections at 949-679-4180 or visit online at www.GreatCollections.com.
Large Collections is a certified coin and banknote auction house, handling transactions from start to finish. Since its creation in 2010, Large Collections has successfully auctioned over 950,000 certified parts, making it one of the leading certified parts companies in the United States. Ian Russell, Owner / President of Large Collections, is a member of the prestigious guild of professional numismatists and a member of the National Auctioneers Association. For more information on Large Collections, visit www.GreatCollections.com or call (800) 442-6467.
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