Thursday, October 27, 2011

The One Tonne Gold Coin

The Perth mint (Australia) has just unveiled the worlds most valuable gold coin.

At a massive one thousand and 12 kilograms, the 99.99 per cent pure gold coin weights over a tonne and there is very little small change out of the 54 million dollars you would have to pay for it.

This gives a new meaning to the cry, buy gold!

Weighing in at one thousand and 12 kilograms, it measures nearly 80 centimetres wide and over 12 centimetres thick. It has Australian legal tender status with a face value of one million dollars. And at one tonne (1,000kg), it's the biggest, heaviest, inherently most valuable gold bullion coin in the world.

It's worth just under 54 million dollars and features a bounding red kangaroo on one side, and the Queen's motif on the other.

"The giant coin is a magnificent Australian icon symbolising one of the Mint's most extraordinary accomplishments in its 112-year history. "Said Perth mints chief executive Ed Harbuz.

"To cast and handcraft a coin of this size and weight was an incredible challenge - one which few other mints would even consider," he said.

He went on to say the coin was a showpiece of the Australian kangaroo gold bullion coin program. It will coincide with the release of a number of smaller gold coins this week, the weight and purity of each being guaranteed by the West Australian government, and these will certainly be within the grasp of anyone wanting to buy gold coins.

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