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SP-70 (PCGS) Lealana 0.1 Bitcoin Sold for Nearly 500% Premium by Stack's Bowers Galleries
By Stack's Bowers Galleries
Author: Stack's Bowers Galleries
Wednesday, November 24, 2021
Costa Mesa, CA (November 24, 2021) –A physical Lealana 0.1 Bitcoin was sold for $33,600 by Stacks Bowers Galleries in their November 2021 Showcase Auction, representing a nearly 500% premium above the face value, or "peel value," of approximately $5,700 at the time of the sale. Graded SP-70 by PCGS, it was the very first bitcoin from the Lealana series to be certified by that grading service and was also the very first piece of physical cryptocurrency offered in a major live auction.
First introduced as Lealana Litecoin, the Lealana series was released to collectors and investors in June 2013 as a counterpart to the Casascius physical bitcoins introduced in 2011. It was invented and issued by Noah Luis of Honolulu, Hawaii, who is perhaps better recognized within the crypto community by his internet handle "smoothie." These physical Lealana Bitcoins were produced in both brass and silver compositions and issued in a range of denominations from 0.1 BTC to 1 BTC, corresponding to those of the Casascius series.
The SP-70 (PCGS) coin in the Stack's Bowers Galleries sale was buyer-funded and unredeemed, further increasing its desirability. It was issued on a 25mm planchet of ¼ ounce of .999 fine silver and minted by Northwest Territorial Mint. The obverse features a holographic sticker with the serial number and public address, while the reverse has the Bitcoin currency symbol at center surrounded by a legend listing the denomination, composition, and the Hawaiian phrase "IKAIKA I HELU NUI" that translates as "Strength in Numbers."
With a nearly 500% premium realized by the Lealana 0.1 Bitcoin in the Stack's Bowers Galleries sale, enthusiasm among aficionados of cryptocurrency and traditional numismatists is evidently strong for this new and exciting category. The firm is excited to announce another significant offering of physical cryptocurrency in their Spring 2022 Showcase Auction, which will feature PCGS-graded bitcoin and litecoin from the Casascius and Lealana series, including complete three-piece and four-piece sets. For questions about this upcoming offering or to consign your physical bitcoins and other cryptocurrency to a future sale, please contact James McCartney at [email protected] or call 800-566-2580.
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 85-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, Wolfeboro, Hong Kong, and Paris. Stack's Bowers Galleries is an Official Auctioneer for several important numismatic conventions, including American Numismatic Association events, the New York International Numismatic Convention, the Whitman Coin & Collectibles Spring, Summer and Winter Expos, and its April and August Hong Kong Auctions.