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The Royal Canadian Mint unveiled a welcome addition to any piggy bank on Thursday -- 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.
Spare any change? Canada unveils $1 million coin
Seeded on Fri May 4, 2007 4:35 AM EDT
Article Source: Reuters- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (18)
Weighing in at 100 kilograms (220.5 pounds)
I wonder if I could put it in my purse?
- 2 votes
#1 - Fri May 4, 2007 4:36 AM EDT
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.
does this seem idiotic to anyone but me? I heard there is some guy who bought 3 of these. Now I get why.
- 3 votes
#3 - Fri May 4, 2007 9:09 AM EDTInteresting. There was a period in America where the copper value of pennies was worth more than a penny and a whole little cottage industry sprang up to melt them down and sell them for the raw material. That's a much cheaper game to get into though.
- 1 vote
not sure who is melting pennies thes days
but they cost more than a penny now.
Brian White,
Are you aware of what metal U.S. pennies are made of today? They are copper washed zinc! Just hold a penny (circa 1982 or later date) in some metal forecepts/ hemostats, pliers, etc., and expose it to the flame of an average propane torch (for about thirty seconds or so). The effect is dramatic! Make sure that there is some metallic surface for the molten zinc to drip into/onto, however!
Since about half way through the minting year of 1981, the penny has been made from zinc, because one penny's weight in copper is worth more than $0.01!
It's funny that, given the current price for gold, the coin should be worth US$2.41 million. And everybody knows that US dollars are worth like 73 times more than Canadian dollars anyway.
#4 - Fri May 4, 2007 9:26 AM EDTUS dollars are worth like 73 times more than Canadian dollars anyway.
1.00 CAD = 0.905107 USD, so 2,410,000.00 USD = 2,662,629.90 CAD
That's nearly on par. :)
- 6 votes
I was just going to say, I'd hate to mistake that coin for a quarter on laundry day. :P
Girl_with_a_book: I don't know what country you're from where there are 100 kilo quarters but I'm not going to arm wrestle anyone from there. A roll of quarters would weigh 4000 kilos and it takes two rolls to do my wash
- 1 vote
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