Back when we covered the recent sale of a 2012 physical bitcoin I asked, "What exactly is PCGS certifying here? The holder states that it is a 2012-dated "Casascius Bitcoin 1oz .999 Find Gold." It also lists a denomination of "1000 BTC". But how could they certify that the unopened private key is there, correct and recoverable? Was the returned slab accompanied by a lengthy legal disclaimer?"
Well, one physical bitcoin author and researcher (is there more than one?) has hung out his shingle as a Casascius coin authenticator.
4K.com, the world's first marketplace for physically-backed non-fungible tokens (NFTs), just sold a rare unpeeled 1 BTC Casascius coin at 3.5x the face value and added Elias Ahonen as a Casascius coin authenticator.
With only 19,752 unredeemed Casascius coins left, markets for these coins are experiencing high premiums. Prior to 4K offering Casascius coins on their marketplace, prospective buyers would have to search various forums for sellers, ask for references to ensure the seller is legitimate, and either trade in person or send funds ahead of time hoping that the seller will follow through with the trade and that the coin will be authentic. 4K streamlines this process by pre-authenticating each coin, which enables buyers and sellers to trade with confidence. With Elias onboard, 4K now has one of the world's foremost experts formally signing off on authenticity.
Elias is the author of the Encyclopedia of Physical Bitcoins and Crypto-Currencies and operates cryptonumist.com, which aims to spread knowledge about these coins. He has been recognized internationally in the media and elsewhere as a subject-matter expert.
As Casascius coins become increasingly recognized as tangible relics of the blockchain revolution and the value of the enclosed BTC rises, authentication becomes all the more important, says Elias.
There is now a new ungraded Casascius coin listed on the 4K marketplace authenticated by Ahonen. Produced by Mike Caldwell between 2011 and 2013, these coins enable newcomers to the bitcoin community to physically hold bitcoin, which helps overcome mental blocks around the idea of an intangible internet money. Each coin is equipped with a unique private key that is hidden behind a tamper-evident hologram. When peeled, the hologram leaves residue that shows future coin holders that the $BTC has been unloaded. The rarest Casascius coins are gold and contain the private keys to 1000 BTC, making them the most valuable coins in the world valued well above 40 million dollars each.
To read the complete article, see:
Rare 1 BTC Casascius Coin NFT Sells for 350% Above Peel Value On The 4K Marketplace
To read the earlier E-Sylum articles, see:
2012 GOLD CASASCIUS 1000 BITCOIN GRADED
NEW BOOK: ENCYCLOPEDIA OF PHYSICAL BITCOINS
Wayne Homren, Editor
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