12-Year-Old Physical Bitcoin Valued at $1.78M Finally Opened This Week

TLDR

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An exceptionally rare 25-bitcoin Casascius physical coin minted between 2011 and 2013 had its security hologram peeled off this week.
The 25 BTC contained within, currently valued at approximately $1.78 million, were activated on-chain for the first time in more than 12 years.
The unsealing was verified in Bitcoin block 952,159, processed by AntPool, with a transaction fee of only $2.79.
On-chain records reveal that merely 0.01 BTC was transferred out — the bulk of 24.99 BTC remained at the original address, indicating the owner was likely verifying the private key.
This activity aligns with other long-dormant Bitcoin movements, including a 2011 wallet that transferred 35 BTC after remaining inactive for 15 years.

A physical Bitcoin coin valued at $1.78 million was unsealed this week for the first time in more than ten years — here’s the complete story and why it resonates with collectors and cryptocurrency enthusiasts.

BREAKING: Rare Bitcoin physical coin worth $1.78M has been accessed and funds moved to a new wallet pic.twitter.com/pwQUh09NVf
— Bitcoin Archive (@BitcoinArchive) June 3, 2026

Understanding Casascius Coins

Casascius coins represented physical cryptocurrency tokens manufactured by software engineer Mike Caldwell from 2011 through 2013. Each piece contained an authentic Bitcoin private key concealed beneath a tamper-proof holographic seal on the reverse side.

These tokens were produced in various denominations from 0.5 BTC up to 1,000 BTC. Caldwell created fewer than 20 units of the 1,000 BTC denomination — each currently valued at approximately $66 million based on today’s market rates.

The coins served as an early cold storage solution before modern hardware wallets became available. They were manufactured using various materials including solid brass and gold-plated savings bars.

Caldwell ceased production in late 2013 after the U.S. Financial Crimes Enforcement Network informed him he was functioning as an unlicensed money transmitter.

The Unsealing Event

On June 2, a 25-bitcoin Casascius coin from the original 2011–2013 production run had its holographic security seal removed. The transaction received confirmation in Bitcoin block 952,159, which was mined by AntPool.

The redemption cost just $2.79 in fees — a minimal expense to access $1.78 million worth of Bitcoin.

The unsealing process is simple yet permanent. Removing the hologram exposes a private key printed on a card underneath. The owner subsequently imports that key into a Bitcoin wallet to access the funds. Once the hologram is peeled away, a distinctive honeycomb pattern remains visible, and the coin permanently loses its collectible premium.

Blockchain records identified by Galaxy Research indicate the owner transferred only 0.01 BTC to a different address. The substantial remainder of 24.99 BTC stayed at the original Casascius address.

This pattern suggests the owner may have been validating the private key’s functionality rather than executing a complete fund transfer.

Collectible Value of Unopened Coins

Intact Casascius coins generally command prices above their Bitcoin face value. Collectors willingly pay a significant premium for the physical artifact when the holographic seal remains unbroken.

By unsealing the coin, the owner transformed a potentially more valuable collectible piece into liquid Bitcoin. Thousands of Casascius coins across all denominations remain unredeemed to this day.

The Casascius initiative also sparked other physical Bitcoin production efforts, including Lealana, Denarium, and BTCC. However, Casascius remains the most sought-after among collectors by a considerable margin.

Additional Dormant Bitcoin Activity

This redemption occurred during an noteworthy week for long-dormant Bitcoin wallets. A different wallet from 2011 transferred 35 BTC after remaining inactive for 15 years.

The identity of the Casascius coin owner has not been disclosed.

At the moment of redemption, Bitcoin was trading at approximately $65,219 — representing a decline of roughly 3.3% over the preceding 24-hour period.