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Over a Half Million in Bitcoins and Cryptocurrency Sold by Stack's Bowers Galleries
By Stack's Bowers Galleries
Author: Stack's Bowers Galleries
Tuesday, April 26, 2022
Costa Mesa, CA (April 26, 2022) – Over $500,000 in physical bitcoins and other cryptocurrency was sold by Stack's Bowers Galleries in their Spring 2022 Showcase Auction, contributing to nearly $37 million in overall prices realized for the sale—a 60% increase above the pre-sale estimate. The Stack's Bowers Galleries Spring 2022 sale was largest and most diverse offering of physical cryptocurrency ever by a major auction house, confirming Stack's Bowers Galleries as a market leader among today's expanding community of collectors. The firm first presented this category at auction in November 2021 when a 500% premium was realized by a Lealana 0.1 Bitcoin. Strong premiums continued to be earned throughout this recent offering, far exceeding premiums reported in any other sale venue. The Bitcoin price at the time of the April sale was approximately $45,000 and all premiums to follow reflect the percentage earned above the underlying "face value" of the cryptocurrency.
The sale featured an array of Bitcoin and Litecoin from the popular Lealana and Casascius series, all certified and encapsulated by PCGS. Also included were several unloaded and redeemed coins that remain very popular as keepsakes of this exciting technology. The Casascius coins were highlighted by a 2013 1 BTC that earned a near 50% premium at $66,000 and a 2013 0.5 BTC that sold for a 40% premium at $31,200. These were purchased directly from Mike Caldwell, the creator of the series, as part of original rolls of coins. They were accompanied by two of the historic 2011 Casascius Error 1 Bitcoin pieces, which are important as the first funded physical bitcoin ever produced, according to researcher Elias Ahonen's Encyclopedia of Physical Bitcoins and other Crypto-Currencies. Included in this pair was a MS-66 (PCGS) that realized a premium of over 70% at $78,000, ranking as the sole finest of just five at PCGS.
The Lealana coins were spotlighted by a scarce four-coin set of silver 2013 Lealana bitcoins, offered individually in consecutive lots. Each coin is marked with the serial number 24, making it one of the earliest sets issued by Lealana creator Noah Luis, aka "smoothie." The set was highlighted by an important gold-plated 1 BTC graded Proof-69 Deep Cameo (PCGS) that brought a 140% premium of $108,000. This historic coin is described by specialist Elias Ahonen as "perhaps the most visually interesting" issue from this series.
Also included in the set was a 0.1 BTC graded Proof-70 Deep Cameo (PCGS) that sold for a 245% premium at $15,600, a 0.25 BTC graded Proof-69 Deep Cameo (PCGS) that earned a 240% premium at $38,400, and a 0.5 BTC graded Proof-70 Deep Cameo (PCGS) that realized a 190% premium at $66,000. A similarly matched set of 2013 Lealana litecoins was also featured, highlighted by a 10 LTC Proof-68 Deep Cameo (PCGS) that brought a 530% premium at $7,800.
With such significant premiums and over a half million in prices realized, the Stacks' Bowers Galleries Spring 2022 Auction will be forever remembered as a historic offering of physical cryptocurrency. Continuing this momentum, Stack's Bowers Galleries is now preparing the catalog for their June 2022 Showcase Auction of U.S. Coins, which is scheduled to be posted online by May 13. The firm is also accepting consignments to their August 2022 Global Showcase Auction that will present items across every numismatic area including U.S. coins and paper money, Numismatic Americana, World and Ancient coins and paper money, and physical cryptocurrency. This event will feature lot viewing at the ANA World's Fair of Money in Rosemont, Illinois. In addition, the firm offers monthly Collectors Choice Online Auctions in every category, providing a convenient venue for the quickest sale and the quickest payment at the strongest prices. To consign your collection to an upcoming auction, contact Stack's Bowers Galleries today at [email protected] or 800-458-4646.
Stack's Bowers Galleries is also excited to offer their clients the ability to pay for their purchases with Bitcoin. The firm has arranged with BitPay to facilitate all Bitcoin payments and a 1% fee will be added to all invoices for this service. Additional terms and conditions apply, and bidders are encouraged to contact Stack's Bowers Galleries before the sale with any questions relating to payment via BitPay. Clients who would like to settle an invoice via BitPay must contact the firm's accounting department to arrange for a payment request.
About Stack's Bowers Galleries
Stack's Bowers Galleries conducts live, Internet and specialized auctions of rare U.S. and world coins and currency and ancient coins, as well as direct sales through retail and wholesale channels. The company's nearly 90-year legacy includes the cataloging and sale of many of the most valuable United States coin and currency collections to ever cross an auction block — The D. Brent Pogue Collection, The John J. Ford, Jr. Collection, The Louis E. Eliasberg, Sr. Collection, The Harry W. Bass, Jr. Collection, The Joel R. Anderson Collection, The Norweb Collection, The Cardinal Collection and The Battle Born Collection — to name just a few. World coin and currency collections include The Pinnacle Collection, The Louis E. Eliasberg, Sr. Collection of World Gold Coins, The Kroisos Collection, The Alicia and Sidney Belzberg Collection, The Wa She Wong Collection, and The Thos. H. Law Collection.
The company is headquartered in Costa Mesa, California, with offices in New York, Philadelphia, Wolfeboro, Hong Kong, and Paris. Stack's Bowers Galleries hosts an annual Global Showcase in August featuring United States coins and currency, ancient coins and World coins and currency in its Costa Mesa auction gallery. They are also the Official Auctioneer for several important numismatic events, including the New York International Numismatic Convention, the Whitman Coin & Collectibles Spring, Summer and Winter Expos, and Spring and Fall Hong Kong shows.