CASASCIUS 1 BTC sold for $ 28,700

Casascius 1 BTC Coin was sold for $ 28,700 on eBay, which exceeds the cost of the bitcoin itself.

Probably, the crypto currency, in addition to the means of financial transactions, turns into a collection one. Coin Casascius 1 BTC, released back in 2011 in the second series of coins, was sold on eBay. At an open auction the rate was 28,700 US dollars.

In total, 166 applicants for Casascius were announced. The seller started the auction at a rate of 1 cent. It was quite strange, because the cost of the coin is 1 bitokoyn, ie $ 14,399 at today's rate.

The auction immediately took off! The first bid raised the price to $ 10,100. Within a few days bidders raised the price to $ 20,000. On the last day of the auction, the price fell to $ 17,200, and soon reached $ 28,700.

The coin is approved by ANACS (accredited by the American Mint). It is assigned Bitcoin status, while the real code is printed on its surface and hidden under a hologram.

These coins are quite unique. Their creator is Mike Caldwell, who decided to turn virtual currency into physical coins. Coldwell minted coins that contained keys for access to a certain number of bitcoins, usually 1 BTC per coin. However, there are coins with a face value of up to 1000 BTC.

At one time the coins were quite popular, but the production of Caldwell was closed by the federal authorities. As early as 2013, Caldwell received a notice from the Agency for Combating Economic Crimes (FINCEN), part of the US Treasury. They predicted that this business will be connected with financial transactions. If Caldwell decided to continue the business, he would have to do a great job of registering and observe in his work both state and federal rules.

In total, Caldwell issued 27,673 coins, for a total of 59,383.9 BTC. With the current bitcoin course, the coin amount is $ 854,920,910.

By the way, for collectors on eBay is presented a lot of Casascius 1 BTC Coin.

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Source: http://bitcoinist.com/big-money-casascius-1-btc-coin-sells-for-28700/