I want to extend a tremendous thanks to those of you who participated in our two Physical Bitcoin auction sessions over the past week. Claiming the top spot in this category was, unsurprisingly, a stunning 2011 Casascius 1 Bitcoin that sold for $55,200, or about a 50% collector premium.
It is interesting to note that this same price was also realized by two “traditional” rare coins in the auction including an 1823 Capped Head Left half eagle and a 1797 Capped Bust Right eagle. These shared results present a fascinating frame of reference for the relative desirability within the Physical Bitcoin category. All three coins represent pinnacles of rarity and historic significance in their respective categories, so the strong price results are well justified. Of course, the two classic gold coins have literally centuries of established collectability behind them, while the Casascius 1 Bitcoin is barely a teenager in terms of collector base. It will be interesting to see where other similarities in collector value emerge between physical crypto and “traditional” numismatics.
The digital Bitcoin currency also remains a strong performer heading into the Thanksgiving holiday. It spent time in the mid-$36,000 range for much of the weekend, but started the week holding steady above $37,000. Hopefully this generates positive momentum for the pair of BTCC rarities that will be sold in just over two week as part of our December 2023 Hong Kong Sale. These two will be discussed in next week’s SBG Crypto update, so stay tuned!