Stack's Bowers Galleries is auctioning a funded Casascius 0.5 BTC physical token graded MS-66 by the Professional Coin Grading Service (PCGS) on June 18. Only 15 examples exist at that grade, with just 11 coins graded finer at MS-67, making this a rare collectible in the physical bitcoin space. The token remains funded, meaning the 0.5 BTC loaded onto the blockchain at creation is still intact and redeemable. The auction features this token as part of a 120-lot crypto collectibles sale with combined intrinsic value exceeding $500,000. Casascius coins became scarce after producer Mike Caldwell halted production in 2013 when regulators flagged the operation as a potential unlicensed money transmission business, creating a finite supply that has narrowed further as owners have peeled coins to claim bitcoin.
Casascius Token Graded MS-66 With 15 Examples at Grade Level
According to the Stack's Bowers Galleries announcement, the token is graded MS-66 by PCGS. Only 15 examples exist at that grade. Just 11 coins have been graded finer, all at MS-67. The token remains funded, meaning the 0.5 BTC loaded onto the blockchain at creation is still intact and redeemable.
The coin was produced by Mike Caldwell, a Utah-based software engineer who began minting the Casascius series in 2011. Each physical coin holds a private key beneath a tamper-evident hologram, with real bitcoin loaded onchain at the time of minting.
Mike Caldwell Halted Production in 2013 After Regulatory Concerns
Caldwell halted production after regulators flagged the operation as a potential unlicensed money transmission business in 2013. The short production window left a finite supply. Attrition has narrowed that supply further: some owners have peeled their coins to claim the bitcoin, destroying the collectible and erasing its numismatic value in the process. Funded examples in high grades are now rare by any measure.
Stack's Bowers Assembles 120-Lot Sale With $500K+ Intrinsic Value
The June 18 sale is not a one-lot showcase. Stack's Bowers has assembled more than 120 crypto collectibles with a combined intrinsic value exceeding $500,000. The sale includes coins from the Casascius, BTCC, and Lealana series, alongside lower-mintage modern issues from producers including Mybits, Satori, Denarium, Ballet, and Freedom Bitcoin.
The auction also marks the firm's first offering of crypto trading cards from Topps' Allen and Ginter series, a crossover expected to draw interest from sports card collectors who track that product line separately from the crypto space. Early Bitcoin Magazine issues round out the sale, including a copy of Issue No. 1 and a consecutive run of Issues 9 through 15.
A-Mark Precious Metals Acquired Stack's Bowers Parent Company for $92 Million
Stack's Bowers Galleries has operated for more than 90 years and is a wholly owned subsidiary of A-Mark Precious Metals Inc. (Nasdaq: AMRK), which acquired parent company Spectrum Group International in early 2025 for $92 million. The firm is a PCGS Authorized Dealer, a member of the Professional Numismatists Guild, and the official auctioneer for major numismatic events, including ANA World's Fair of Money conventions.
"American coinage and commerce have always been a mirror to the nation's journey toward liberty and success," James McCartney, Director of Numismatics at Stack's Bowers Galleries, remarked. The Stack's Bowers Galleries executive added: "There is no greater context in which to offer this historic Fourth of July funded 0.5 bitcoin."
Buyers Face Premiums Typically Above 20 Percent
Bidders should account for buyer's premiums, which typically run above 20% at premium auction houses. The token's collectible value operates separately from its bitcoin spot value, and both factors are relevant to the final price. The auction is open for bidding through the Stack's Bowers platform.
The firm is also accepting consignments for its Summer 2026 Global Showcase Auction, which will hold in-person previews at the ANA World's Fair of Money in Pittsburgh, Pennsylvania. Specialists will also be available at the FUN Show in Orlando, Florida, running July 9 through 11.
FAQ
What is the Casascius 0.5 BTC token being auctioned by Stack's Bowers Galleries?
The token is a funded Casascius 0.5 BTC physical coin graded MS-66 by PCGS. Only 15 examples exist at that grade, with just 11 coins graded finer at MS-67. The token remains funded, meaning the 0.5 BTC loaded onto the blockchain at creation is still intact and redeemable. It was produced by Mike Caldwell, a Utah-based software engineer who began minting the Casascius series in 2011.
Why did Mike Caldwell stop producing Casascius coins?
Caldwell halted production after regulators flagged the operation as a potential unlicensed money transmission business in 2013. The short production window left a finite supply. Attrition has narrowed that supply further as some owners have peeled their coins to claim the bitcoin, destroying the collectible and erasing its numismatic value in the process.
What else is included in the Stack's Bowers June 18 crypto collectibles sale?
Stack's Bowers has assembled more than 120 crypto collectibles with a combined intrinsic value exceeding $500,000. The sale includes coins from the Casascius, BTCC, and Lealana series, alongside lower-mintage modern issues from producers including Mybits, Satori, Denarium, Ballet, and Freedom Bitcoin. The auction also marks the firm's first offering of crypto trading cards from Topps' Allen and Ginter series, and includes early Bitcoin Magazine issues.
