World's Biggest Gold Coin Makes History In New York
(Kitco News) - Perth Mint made history on Tuesday by bringing the worldâ€™s largest gold coin to the NYSE.
The coin, weighing in at 1 tonne, holds the Guinness World Record for the worldâ€™s largest, is valued close to $45 - $50 million at market prices, with spot gold last trading at $1,402.70 an ounce as of 3:50 pm EST.
The coinâ€™s unveiling at the NYSE marks the Perth Mintâ€™s launching of its gold-backed ETF, the Perth Mint Physical Gold ETF (NYSEArca: AAAU).
AAAU is the worldâ€™s first government-backed gold ETF, with the majority of the fundâ€™s gold vaulted at the Perth Mint.
Richard Hayes, CEO of the Perth Mint, told Kitco News that this is the first time the coin visited the U.S.
He noted that aside from celebrating the launching of the AAAU ETF on the NYSE, Perth Mint also hopes to bring awareness to the industry.
â€śEverything that people do to promote gold just helps the industry, and thatâ€™s what weâ€™re doing as well with this one tonne gold coin. Itâ€™s about publicizing gold, itâ€™s about publicizing you can have in something relatively small and those people who are interested in having gold as part of their portfolio can see that you can store a tremendous amount of money in something so small,â€ť Hayes said.