http://www.cbc.ca/canada/manitoba/story/2007/02/07/coin.html Canada planning a million dollar coin??? Thoughts?? Bet it would not fit into your pocket!! RickieB
Fair use quote from the article: "The federal cabinet passed an order earlier this month at the recommendation of the transport minister allowing the mint to stamp out the non-circulation coins." I read this sentence the other way before I realized, no, they meant produce, not eliminate, by "stamp out"... oh, well... I like some of their "medal-coins" (to quote Aidan) but this one is really over the top.
I guess they want to get into the Guinness Book as producer of the world's largest legal tender gold coin. The current record holder is the Austrian Vienna Philharmonic 1,000 ouncer (face value €100,000. It's diameter is 37cm (almost 15"), and in common weight terms it's more than 68 lbs. or 31kg! If the Canadian coin is made with 1,500 ounces (1-1/2 times the Austrian piece) it will still have a melt value of about $980,000 at today's price. I guess we'll have to see just how greedy they are when they fix the sale price premium. (All 15 Austrian coins reportedly sold out very quickly.)
Roy,you certainly wouldn't want to drop that C$1,000,000 medal-coin on your feet then.It mentions that it is going to be 100 kg. in weight,which is just 2 kg. heavier than me. I wonder how it will be pictured in Krause.I can guess that Krause would have to have a whole page just to list this piece,including the price & the new 'KM' number. What do you think? Aidan.
I missed the part about the 100kg weight. That equates to 1,610 troy ounces. Using today's gold price of ~$550/oz. and today's exchange rate of ~CAN$1=US$0.844, would put the melt value of that pizza platter at ~CAN$1,245,000/US$1,050,000.
Roy,that piece is surely going to be the biggest medal-coin in the entire British Commonwealth (& the world!).I wonder what prices both Charlton & Krause will put on this pizza-plate-sized thing. Aidan.
Makes no sense that this project got the OK in the first place, Canada doesn't have any bills larger than $100, because the gov't doesnt want organized crime, drug runners, or money launderers to be able to easily hide large amounts of money in just a few bills. I mean, yes, it will be pretty heavy, but Ive held a 50-lb brick of gold, and they arent really very big, I'm sure you could easily fit a few of these million-dollar coins in a duffle bag. Besides that, even if they do make them, theyll probably have a mintage in the single digits, and I'm pretty sure I can guess who will get them all...
I reckon that some of the museums in Canada will be given them,including the Bank of Canada's Currency Museum.I wonder if they will be pure gold like the gold Maple Leaves are,or 22 carat gold like the Canadian Sovereigns of 1908-19 are. Aidan.
- 100,000 euros from Austria (http://news.bbc.co.uk/2/hi/europe/3721584.stm) - 1,000,000 dollars from Canada Who is next?
Andy,I wouldn't be too surprised if Zimbabwe started issuing coins denominated in millions of Zimbabwean Dollars,considering that Zimbabwe has been in such a mess,both economically & politically . Turkey was issuing medal-coins denominated in million of Lira.They even issued a 7,500,000 Lira medal-coin. a few years back. Aidan.
Several yeas ago exchange rate for turkish lira was too low, so this medal-coin (with huge amount of zeros) is worth about several dollars plus it's collection value. But these guys from Canada and Austria are going mad with their gold "wheels"
I guess if someone tried to steal your 1 million dollar coin, being that its the size of a pizza but much heavier, they're not going to run away from you very fast with that thing in their paws. It would take a suitcase on wheels to transport your coin anywhere.
Has anyone seen the designs for Coinzilla yet? I haven't had any news from the Royal Canadian Mint regarding the designs for Coinzilla. Aidan.
Chances are that this will land in the Japanese market if it ever takes off. Previously, at least two Austrian gold coins were shipped to Japan, one for Aichi Expo purposes bought by Tanaka Kikinzoku Kogyo K.K. It seemed that the other one that I know of was in Japan that got shipped to the US, which then was auctioned off on ebay although I can't quite remember the final bid. Perhaps over half a million or so easily. To mint such large scale "coin" is just disgusting. Why not mint 100 kilos gold medal instead of 100 kilos gold coins? No, the Canadian mint just has to make lives difficult for numis. Already they have minted 2 gold coins which are each unique. Why bother calling them coins???
My 1st thought is Why??? 2nd is I'd like to see a cash register that has a spot for that... 3rd, I guess I'd like to see a picture of this Sewer Lid sized bad boy...
