Friday, May 4, 2007

Canada Unveils C$1 Million Coin

    Canada's C$1 Million Coin
    The Royal Canadian Mint unveiled a monster gold coin with a face value of C$1 million (455,000 pounds) that it says is the world's biggest, purest and highest denomination coin.

    Weighing in at 100 kilograms (220.5 pounds), the limited edition coin easily dwarfs its closest rival, the 31 kg (68 pound) "Big Phil", which was made to honour the Vienna Philharmonic Orchestra and has a face value of a mere 100,000 euros (C$150,000).

    The Canadian mint introduced the mega-coin, which is the size of an extra-large pizza, alongside the one-ounce gold bullion coins it is mass producing at its Ottawa plant.

    Originally designed to promote the new one-ounce coins, the colossal 100 kg coins will be produced in a very limited quantity.

    At 53 centimetres (21 inches) in diameter and over 3 cm (1.2 inches) thick, the massive coins need a high level of hand crafting.

    While it has a C$1 million face value, the coin is worth more than twice that amount given the current gold price of $683.30 an ounce.

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Canada Unveils C$1 Million Coin


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https://blognews12.blogspot.com/2007/05/canada-unveils-c1-million-coin.html


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