The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Thursday, 22nd February 2007 (5576 views)

A new coin weighing an impressive 100 kilograms has been created by the Royal Canadian Mint that will have a face value of C$1 million (£442,000).

The actual value of the 99.999 per cent pure gold coin outweighs its face value, however, as it will be worth around C$2 million in line with current bullion prices.

Only available for a limited time, the new gold coin will become the highest denomination coin in circulation in the world and will only be made to order to avoid having huge, expensive coins lying around.

Bret Evans, editor of Canadian Coin News in St. Catharines, Ontario, has said that he fully expects the coins to sell as they will encourage people to obtain "bragging rights" should they purchase one of them.

He added: "It's going to sell, absolutely. If they make 12 to 15, they'll sell them and they'll sell them fairly quickly."

Governor general Earl Grey struck the first coin at the Royal Canadian Mint back in January 1908 and the company is a for-profit crown corporation.

 

« Back to Gold News stories