Actually the "golden ball cactus" is most commonly referred to as the Notocactus (Parodia) Leninghausii. The Echinocactus grusonii is the "golden barrel cactus". I think you could plant them as you describe and be ok, but get more opinions than mine. The Echinocactus grusonii like nearly full summer sun, and they won't get etoliated like yours are.. Hey, the "golden light bulb" sounds like they look cool... :-)
Bill in SC

Put them on eBay as "rare Golden Lightbulb Cactus", make loads of money, buy some golden basketball cacti :)

I don't know how thin the neck is or how large the balls are but you should consider chopping it off and re-rooting.

Bill,
You can plant deeper in a deep pot, but fill around the "neck or our light bulb with gravel or grit so it will not hold water there. That can cause the plant to rot. I've never tried rooting a cutting of E. grusonii. I've done this with an Echinopsis that has the same problem.
Dan

OK, my two cents. The E. Grusonii as mentioned before is closely related to Ferocactus and the F. herrerae will also have this "light bulb" shape at a younger age. Size rarely can determine age as I had one clinging to life for seven years inside where it only got Winter sun. Out on the balcony for three years, BOOM, it started growing in the same planter box as many South American species. It too looks like a light bulb but as with the F. herrerae, fingers crossed, it will take on a globe shape once it is in it's own pot and not sharing "sun space" with the others that are crowding the box. I would not try to sink it in a pot so the top only fills out. Many cacti will develop in this way and the "trunk", if you will, follows the "head", if you will, and fattens up with age. Remember that a very old E. grusonii (Golden Barrel) is a very stout columnar cactus. Rarely do we see specimens that attain this age because it takes forty years or more. Many "Fero's" attain columnar appearance sooner but are generally considered to be in the "Barrel" family. I think you'll rot it or create a top heavy monster if you attempt to sink it in the pot.

Here is one planted in a deep pot:

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I am not sure of the size but it is larger than a 5 gallon and next to 5 gallon pots. It is about a 10 gallon pot.