Costa Mesa, California — An incredible 10-Bitcoin graded SP-68 by Professional Coin Grading Service could sell for over $300,000 when it goes to auction this summer in the Stack’s Bowers August 2023 Global Showcase Auction. Released in 2012 as part of the prized Casascius series of physical bitcoins, fewer than 490 of this gilt-silver type were struck, and over 30% of those have since been redeemed. It is one of only five graded by PCGS and will be the very first to be featured in a major live auction. This landmark rarity is sure to draw the attention of trophy hunters and advanced collectors across every category of numismatics when it is presented in the Stack’s Bowers Galleries August 2023 sale.
This 10-Bitcoin was funded on October 23, 2012, when Bitcoin was valued at $10, giving it a face value of just $100 at the time. With Bitcoin now trading around $25,000, physical bitcoins continue to be redeemed at a steady pace, increasing the rarity of funded examples such as this. Much like early United States gold coins that escaped melting in the 1830s, intact Physical Bitcoins from this period are historic survivors from the foundational era of a new economic system.
This 10-Bitcoin offering comes on the heels of the firm’s successful June 2023 sale of physical cryptocurrency, which realized over $620,000 in total prices and achieved average premiums of nearly 200%. A similar gilt-silver example from the one-Bitcoin denomination sold for $78,000 in June, equivalent to 300% of the face value. The 10-Bitcoin appearing in August is several times rarer than that piece and will surely generate considerable excitement among bidders.
About Stack’s Bowers Galleries
Stack’s Bowers conducts live, Internet, and specialized auctions of rare U.S. and World coins, banknotes, ancient coins, and direct sales through retail and wholesale channels. The company’s nearly 90-year legacy includes the cataloging and sale of many of the most valuable United States coin and banknote collections to ever cross an auction block — The D. Brent Pogue Collection, The John J. Ford, Jr. Collection, The Louis E. Eliasberg, Sr. Collection, The Harry W. Bass, Jr. Collection, The Joel R. Anderson Collection, The Norweb Collection, The Cardinal Collection, The Sydney F. Martin Collection, and The Battle Born Collection — to name just a few. World coin and banknote collections include The Pinnacle Collection, The Louis E. Eliasberg, Sr. Collection of World Gold Coins, The Kroisos Collection, The Alicia and Sidney Belzberg Collection, The Salton Collection, The Wa She Wong Collection, and The Thos. H. Law Collection.
The company is headquartered in Costa Mesa, California, with galleries in New York, Boston, and Philadelphia. Offices are also located in New Hampshire, Oklahoma, South Carolina, Virginia, Hong Kong, Paris, and Vancouver. Stack’s Bowers Galleries hosts an annual Global Showcase in August featuring United States coins and banknotes, ancient coins, and World coins and banknotes in its Costa Mesa auction gallery. They are also the Official Auctioneer for several important numismatic events, including the New York International Numismatic Convention; the Whitman Coin & Collectibles Spring, Summer, and Winter Expos; the Spring and Fall Hong Kong shows; and the Maastricht Paper Money Shows.
Press release courtesy of the Professional Coin Grading Service