Casascius 1000 BTC Gold Coin Beat the “Flowing Hair Silver Dollar” as the World’s Most Valuable Rare Gem
Money takes different forms.
People decide what’s fitting for their situation and accept endorsed money. We have had all forms of money over the years.
However, in the digital age, fiat is widely used. They are printed by the central government and backed by the country’s sovereignty. For this reason, some are worth more than others.
Still, talking of money there are some, though minted by the same government, is considered more of a treasure than others.
The Flowing Hair Silver Dollar Sold for $10 Million in 2013
Take, for example, the Flowing Hair Silver Dollar that took after the Spanish dollar.
It’s a gem by itself and the first coin produced by the United States Federal government. A treasure and a highly sought-after coin originally designed to be the cornerstone of the US monetary system.
The coin depicted the bust of the Lady of Liberty on one side and the eagle on the other; demonstrating the independence of the United States and its capacity to mint its coins.
At this time, the country had been impacted by its war with Britain. The Flowing Hair Dollar served its purpose of marketing the US, acting more as a souvenir than money.
According to the curator and director of the American Numismatic Association’s Money Museum, Douglas Mudd, the coin represented freedom:
“The Flowing Hair design was produced by the Mint as the first representation of liberty. Taking the idea from the ancient Romans where they used female figures — sometimes male figures — to represent concepts such as liberty or freedom.”
The Flowing Hair Dollar is one of the earliest national coins minted under the orders of President George Washington. Following a study by Alexander Hamilton in 1791, Congress passed a joint resolution to create a national mint authorized under the Coinage Act of 1972.
The Flowing Hair Dollar coins were produced for a limited time between 1794 and 1795.
What sets this coin apart from the rest is its rarity. The Flowing Hair Dollar is one of the most valuable of all United States coins and is considered a national treasure by Steven Contursi—the previous owner of one of the estimated 150 coins.
In 2013, one of the Flowing Hair Dollar coins was sold for $10,016,875 making it one of the highest-selling coins in history. Bruce Morelan, the purchaser, said it was a dream coin and a priceless artifact.
The coin is ready for the hammer, and its value could be higher.
Casascius 1000 BTC Gold Coin is More Valuable
Marking the age of Bitcoin is the Casascius 1000 BTC gold coin that was available from Dec 16, 2011. While the Flowing Hair Dollar sold at over $10 million, the coin sold for $1 million.
The coin is a linkage between the digital and the physical. Casascius made each with an ounce of fine gold.
A coin by Mike Caldwell, a keen enthusiast in the early Bitcoin years, it contained “an embedded piece of paper with the value of Bitcoin and covered by a tamper-proof hologram.”
The coins were available in 1, 10,25, 100, and 1000 BTC increments and meant for face-to-face transactions. Whoever redeems the private key gets the spot value of the coin.
Six Casascius 1000 BTC gold coins were produced, linked with one private key. Four have been redeemed—and in some cases destroyed.
As the coin is linked to the price of BTC, the Casascius 1000 BTC Gold coin fluctuates depending on spot rates. If Bitcoin maintains its upward trajectory, sustaining prices above $10k, each of these five coins will be the world’s most valuable rare coins—only if the price is factored in.
However, each could be worth far more because Casascius stopped minting these coins back in Nov 2013 when FinCEN stepped in asking about the Money Transmitter License.
When BTC was trading at around the spot levels back in 2018, each Casascius 1000 BTC Gold coin was selling at a whopping $15 million up from $300k in March 2015.
The quest goes on because there are still two (2) unopened Series 1 1000 BTC bars (out of 16) and four (4) unopened coins—from six, each redeemable for 1000 BTC or at $19 million at spot rates easily becoming the world’s most valuable rare coins.