World's Largest Gold Coin up for Auction

Three years ago, Alex blogged about the largest gold coin in the world. This one million dollar Canadian gold coin weighs 220 lb and is worth about four times its face value. And now it's up for sale:

The 100-kilogram Gold Maple Leaf was, in fact, recognized by Guinness World Records in October 2007 as the planet's largest gold coin.

The four sold that year cost the buyers more than $2.3 million each based on the coin's intrinsic value at the time. The $1-million coin contains 3,215 troy ounces of gold.

But the price of gold has nearly doubled since then. Earlier this week, it reached a record high of $1,254.50 U.S. per ounce. Some analysts have predicted the price could hit $1,500 U.S. within a year.

At Friday's price of about $1,230 U.S. per ounce, the metal value of the coin to be sold in Austria was just over $4 million Cdn.


Link via The Presurfer | Photo: Dorotheum

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