Insane Waste

http://news.goldseek.com/GoldSeek/1340888400.php

[FONT=Arial, Verdana, Helvetica, sans-serif]also the world’s largest and heaviest gold bullion coin -made from 1 tonne of 99.99% pure gold.


Ed Harbuz, CEO of The Perth Mint, stands beside the massive
1 Tonne Australian Gold Kangaroo Coin

"We faced an incredible challenge to produce a coin of this scale, so this is a wonderful endorsement of the talent and expertise of those involved," said Ed Harbuz, Perth Mint Chief Executive Officer.[/FONT]

 

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That is the actually coin? I seem to think it is too large to be the coin.

 

OUCH !!!

Susan B. don't look so bad after all...

 

Yap money is that big and they're just rocks.

 

You'd have to use an ICBM silo for a coin tube.

 

If it was die struck, I would be impressed, but is is basically just a cast sculpture of a coin. I wouldn't mind if they dropped it off at my house though.

 

http://m.npr.org/story/131934618?url=/blogs/money/2011/02/15/131934618/the-island-of-stone-money
Be easy to inflate when they discover concrete.

 

I wouldn't call it a waste. The gold is still there. It's isn't like they disposed of it or anything. They just made a frivolous novelty from it.

 

Perth Mint customers are willing to routinely spend $100-350 on an ounce of silver. When this is the case, then they are going to have a LOT of money laying around to spend on frivolous advertising pursuits, such as a ton gold coin.

I wonder what kind of base-mount they use when standing the "coin" upright like that. Seems like the sheer weight of the thing would cause the gold to deform. In the least, the reeding along the bottom edge would get flattened.

 

I never spent $300 an ounce from Perth Mint

 

Where? It would fall through the floor.

 

I think they should send it in to have it graded. :yes:

 

Hey-OH!

 

What is the denomination? It looks like the coin reads $1,000,000 but can't see for sure... maybe it says $1,000,000,000!!

 

try getting that slabbed by pcgs or ngc..lol

 

It would be a good publicity stunt if they could do it.

 

I just noticed that he's handling it by its edges instead of putting his booger-pickers all over the face of the "coin". :thumb:

 

Frivolous? Seems to me that this is smart advertising at it's best. Instead of spending huge sums on conventional advertisements, they thought outside the box and produced something that made the media (AKA: advertisers) come to them.

 

I agree. I believe the real "waste" will be the premium anyone pays above melt value for it. The last "world's largest gold coin" sold for melt at auction.

 

at that size I don't think. Its going to matter