Canada has achieved what no other country has been able to achieve till date; produce a million-dollar coin. Can’t believe it, well neither did I in the first instance. The Royal Canadian Mint has engendered a ginormous 100 kg pure gold coin. Well, if that alone wasn’t sufficient, the mint even managed to sell three of these within hours of introduction.
The coin has a face value of $1 million. However, it is sold for about $ 3million based on the current value of the gold. The coin is about 21 inches (50 cm) in diameter and is 1.2 inches (3 cm) thick. Like all other ‘loonies‘- nickname for Canadian one dollar coins, this one also has a likeness of Queen Elizabeth II on one side and three maple leafs on the other.
The coin will not go into circulation (for obvious reasons) and was designed primarily as a promotional product to give the mint a higher international profile.
We wanted to raise the bar so that we could say the government of Canada or the Royal Canadian Mint produced the purest gold coins in the world.
David Madge, Royal Mint’s director of bullion and refinery services said.
The coin has already landed a place in the Guinness Book of World Records for the largest coin in the world. The Austrians earlier held this record. They had a coin that weighed 31 kg and was worth 100,000 Euros. The Austrian coin was a mere 37 cm in diameter.
Not only is the Canadian coin the biggest, but it is also poised to set new standards in purity. It is 99.999 per cent pure gold.
What do you think of all this? Care to pocket one?
Source: Dnaindia
