World's Biggest Coin- a Million Dollar value
[May 7] Canada has seized bragging rights for the largest legal
tender piece of money in the world, by issuing a coin with a face
value of $1 million Canadian.The
previous record holder for large coins was the seventy pound 100,000
euro piece from Austria with a fifteen inch diameter.
The world's largest coin, a Canadian $1 million pure gold piece,
can only be bought for more than twice its face value because of
the current price of gold. AP photo/Tom Hanson
Three people have already grabbed
one of their own.
This monetary item, issued by the Royal
Canadian Mint, is twenty inches in diameter and one inch thick.
It's made of 99.999 percent gold bullion and weighs 220 pounds (100
kilograms). One side of the hefty coin has the face of Queen Elizabeth
and the reverse shows a cluster of maple leaves, one of Canada's
most well-known symbols.
Its scalloped edge is reminiscent of the country's
old-style nickels. The side with the maple leaves has the English
words "Fine gold", then "100 KG", followed by the French words "Or
pur", which translates as "Pure gold". One of these coins takes
six weeks to make.
The editor of Canadian Coin News, Bret Evans,
said, "They're (the Canadian Mint) not doing this because there
is a huge demand for 100-kilo gold coins. They're doing it because
it gives them some bragging rights in having the largest pure gold
coin in the world. They'll kick the Austrians out of the Guinness
World Book of Records".
The Canadian $1 million coin will be used
mostly as a promotional tool, as it already has been by a Japanese
coin dealer, to draw attention to smaller, more affordable gold
coins. Then again, it would make one fantastic door stop.