News Bites
World's Largest Gold Coin On Display At NYSE For One Day Only
Editor's Note: Get caught up in minutes with our speedy summary of today's must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!
(Kitco News) - Have an eye for gold? How about seeing the world’s biggest gold coin that weighs one metric ton, is made out of 99.99% pure gold and is worth more than $50 million based on current spot gold prices?
The Australian-made coin will be on display right outside of the New York Stock Exchange (NYSE) for one day only on July 16. It will be the first time the coin would have traveled to the U.S.
The “1 Tonne Australian Kangaroo” gold coin was crafted by the Perth Mint in 2011, beating all the others to the title of the largest gold coin in the world, according to the Guinness World Records.
The previous record holder was the Royal Canadian Mint’s coin that weighed 100 kg (220 pounds).
The massive coin is something to see — almost three feet wide and five inches think — it can’t be missed.
The Australian legal tender of the coin is $1 million, but its real value is a lot more. Weighing one metric ton, the coin is now worth USD$50,025,586 based on today’s gold spot prices.
The “1 Tonne Australian Kangaroo” features Her Majesty Queen Elizabeth II on the ‘heads’ side and the classic Red Kangaroo in mid-hop on the ‘tails’ side.
On the border of the coin there is an inscription that reads: “AUSTRALIAN KANGAROO 1 TONNE 9999 GOLD 2012.”
