Rare physical bitcoin worth $1.78 million gets cashed in after 12 years The S1-COIN-25 physical bitcoin, part of Mike Caldwell’s 2011-2013 mint, had its tamper-evident hologram peeled and the 25 BTC swept on-chain on Wednesday.
What to know: – A rare 25-bitcoin Casascius physical coin, minted between 2011 and 2013, was peeled this week and its 25 BTC—worth about $1.78 million—were moved to a new wallet. – Casascius coins, created by software engineer Mike Caldwell, embed real bitcoin under tamper-evident holograms and are prized by collectors for both their face value and numismatic premium when left intact. – Redeeming the coin destroyed its collectible status and came amid a broader burst of activity from long-dormant bitcoin holdings, including a 2011-era wallet that just moved 35 BTC after 15 years
A physical bitcoin Casascius coins were physical tokens created by software engineer Mike Caldwell in denominations of 0.5, 1, 5, 10, 25, 100 and even 1,000 BTC. Each coin had its receiving bitcoin address printed on the outside, with the matching private key concealed under a tamper-evident hologram on the back. 🪙 CASASCIUS COIN REDEEMED — S1-COIN-25 (25 BTC face) swept for 25.0000 BTC ($1.78M) — Galaxy Research (@glxyresearch) June 3, 2026 A physical Casascius bitcoin from the 2011-2013 mint has been peeled and the private key swept on-chain. Address: 1tLPQwd6wjvZpreivwHsEuU2ceSv6zaon Also in our DB: Noah Doe #38977 ·… Holders could spend the bitcoin at any time by peeling the hologram and importing the private key into a wallet, a one-way move that destroyed the coin’s collectible status.
Caldwell halted production in late 2013 after the U.S. Financial Crimes Enforcement Network advised him he was operating as a money transmitter without a license. Intact-hologram Casascius coins continue to occupy an unusual category in collectibles markets.