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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.
Jun 3, 2026, 2:32 p.m. 2 min read
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.
🪙 CASASCIUS COIN REDEEMED — S1-COIN-25 (25 BTC face) swept for 25.0000 BTC ($1.78M)
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 ·…— Galaxy Research (@glxyresearch) June 3, 2026
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.
