Canadian $1,000,000 Face Value Coin

Sorry if this has already been posted, but it is news to me.

The Canadian Mint will be issuing a $1,000,000 face value gold bullion coin. This coin, which weighs 100 kilograms (220.46 pounds,) has a purity level of 99.999.



It is 50 cm (19.7 in.) in diameter, and 3 cm (1.2 in.) thick.

The Royal Canadian Mint now holds the Guiness World Record for the largest coin. The previous record holder was Austria, for its 100,000 Euro coin weighing 31 kg (about 68.4 pounds,) with a diameter of 37 cm (about 14.6 in.)

 

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I read an article on that coin also. That thing is amazing. I would love to see one in person, as that thing must be massive.
Just wondering if anybody is on the waiting list for one or two of them.

 

There's already been around 4 threads regarding the Coinzilla.It has already been reported for listing in Krause.

Aidan.

 

from what was mentioned in another thread, i think they said 3 had been sold so far

 

There's been a report of a mintage figure of 10 pieces,of which 3 have already been sold at its issue price of C$3,000,000! Definitely a medal-coin.The term 'Coinzilla' is very appropriate for this piece.

Aidan.

 

it is not a medal-coin, or whatever screwy word you want to use.... it is a COIN... a big one, but it is a COIN with a face value

 

Daggarjohn,it IS a medal-coin,as it won't be found in circulation,nor is it being offered at its face value.

Aidan.

 

Then what would you call the Proof American Silver Eagle?


swick

 

i would call that a coin. It has a face value. a MEDAL has no face value. the Canadien COIN is just that .. a COIN....

 

And yet there are people who will not understand the difference.

Christian

 

very sadly, that is very true. Case in point here

 

If I buy one, maybe I can get in the Guiness World book of Records for the highest check bounced.

 

Can not wait to see it on Ebay.

 

I think that 1 example of the Coinzilla will end up being put into the Bank of Canada's Currency Museum in Ottawa.Who knows,you may go there & get your photo taken with the Coinzilla.

Aidan.

 

The article in the Norwich Bulletin newspaper said it was 22 inches in diameter.
They are known for gross mistakes.

 

Is the weight in troy pounds or just pounds? Just did the conversion and it comes out as follows:

Bullion Value (converted troy pounds to troy oz) based on $684.50 spot: $1,810,858.44
Bullion Value (converted pounds to troy oz): $2,200,696.02

Guess I'll be getting a few! LOL, I'll tie you for the record for highest check bounced!

 

Precisely. If it has a face value and is authorized by a government entity with the legal authority in its country to issue coins and currency (thus making it legal tender in that country), then it is a coin, period. If any of the above don't apply, but it can be redeemed for something, it is a token; if it can't be redeemed for anything and any of the above don't apply, then it is a medal.

If someone could theoretically take this thing and spend it in Canada for its face value, then it is still a coin, regardless if it was issued above its face value or it is unlikely to circulate as such. The same reason US commemoratives and American Eagles are still coins, despite not being issued at face value and not likely to circulate. (Proof coins aren't issued at their face value and almost never circulate either, but few would argue that they're not coins.)

There is no such thing as a "medal-coin"; that term is an oxymoron, since being a medal would negate it from being a coin, and vice-versa.

 

Hello folks:

All of you are wrong. It is not a coin or a medal-coin, it is a huge massive paperweight! Talk about the size of the safety deposit box that would be needed to keep that one.

Perhaps they can make a new Olympic event for Vancouver. Running a 30km marathon with that thing strapped to your back.

The one story people are missing though in this big event, is that the Royal Canadian Mint is now making bullion coins that are 99999 pure gold. Before they made coins 9999 pure gold. Amazing!

Talk to you all later.

:smile

 

I find it hard to be any more amazed at .99999 gold than I ama at .9999 gold, lol... it doesn't make all that much difference. Even in this 1 kilo coin, that's only 9 grams more gold. At a certain point, refining the gold any more just isn't worth the cost. Even .999 gold qualifies as 24 karat.

 

Actually, it's only 9 grams more gold in 100 kilos, which is an even less significant improvement!