Canadian Mint Turns Out $1 Million Coin
Posted May 4, 2007 12:00 pm.
This article is more than 5 years old.
First came the loonie, then the twonie. Canadians complained bitterly about both, not wanting to walk around with a ton of change in their pockets. So imagine having this thing in your jeans or purse. It’s a $1 million Canadian coin, the first one ever turned out in this country.
It was made by the Royal Canadian Mint, and yes, it really is for sale. Not that most of us can even think about buying one.
Even if we did, there wouldn’t be a pair of pants big enough to hold it. The giant coin is the size of an extra-large pizza, weighs 100 kilograms – or around 220 pounds – is 53 centimetres in diameter, over 3 centimetres thick, is hand crafted and is guaranteed to be 99.999 percent pure gold. And since the cost of that precious metal fluctuates, it’s actually worth more than its million dollar asking price.
The Mint boasts that it’s the largest, purest and most expensive coin in the history of the world. Its nearest rival is an Austrian monster made to honour the Vienna Philharmonic Orchestra. But it weighs in at a paltry 31 kilograms and is valued at just $150,000.
Hardly worth putting in your pocket.
So why would the only place in the country with the real license to print money make such an expensive token? It was a publicity stunt for its one-ounce gold bullion coins, which are much cheaper and also on sale for collectors.
Would anyone actually buy the world’s most expensive collectible? Turns out the answer is yes. The Mint has already received three orders for the not-so-spare change from a U.S. precious metals dealer, and there’s been interest expressed from buyers in Asia and Europe.
It could be a big moneymaker for the big money maker. And one thing’s for sure – this ‘change’ will do them good.
