Million Dollar Gold Coin From Canada
This is an updated post to yesterday’s post about the million dollar gold coin.
The coins have the 99.999 percent purity rating, which is a notch above the old ‘four nines’ rating that used to be the standard for gold purity in coinage. Canada has been upping the ante in many situations with the gold market, including setting the first standard of the four nines back in 1982, and now creating this monstrosity that outweighs and out-values any coin in existence.
This coin consists of 3,215 troy ounces of gold. At a rate of even a modest $700 to $800 per ounce, that adds up to be about $2.25 to $2.57 million US when compared to the price of gold. However, the price of gold is more like at $1,135 an ounce now and that is more than triple the actual $1 million Canadian face value that the coin holds. Even though the coin was a promotional item from the start, it has created quite a stir among collectors and investors around the world, and everyone is waiting to see what happens next. Considering that it takes 6 weeks to manufacture one of these giant coins, it’s certain that they won’t exactly be flying off the presses by any means.
Canadian Mint Million Dollar Gold Coin
Seen any million dollar gold coins lately? If you haven’t that’s probably because there is only one in existence and it is actually worth way more than 1 million dollars. Plus it may be a little hard to carry since it weighs about 220 pounds.
A few years ago, the Royal Canadian Mint added a new coin to their collection in 2007 that is very rare indeed. The only coin of its kind, this one is valued at more than 455,000 pounds, or $1 million Canadian Dollars. It’s easily the world’s biggest, purest, and highest denomination coin in existence. It weighs more than 220.5 pounds, and its closest rival is the 60 pound “Big Phil” commemorative coin that was minted in Austria to commemorate the anniversary of the Vienna Philharmonic Orchestra. The coin is about the size of an extra large pizza, and was introduced along with the one-ounce bullion coins that are being mass produced to model the giant currency.
The coin was originally designed as a promotional item, but it has since been decided that the coins will be produced further, but in limited quantities. The U.S. has one precious metals distributor that wants three copies of the coin, and Asia and Europe are also expressing an interest in the coin. The coin is 53 centimeters in diameter, and more than 3 centimeters thick, which requires a lot of skilled handiwork to create something this monstrous. The face value of the coin is at $1 million Canadian, but not surprisingly because of the increase in the price of gold in the last 3 years, the coin is worth far more. The price of gold per ounce leaves the coin worth at least triple that amount or more depending on the day that gold prices are checked.
Liberty Head Gold Coins For Sale
Even though they aren’t the most popular of all gold coins, there are plenty of Liberty head gold coins for sale because they still are one of the most popular coins for the collector and investor. While the St Gaudens gold double eagle is the most popular gold coin sold anywhere in the world, the Liberty Head may come in a close second.
This coin is also referred to as the Coronet Head as well as the Liberty head and was minted from 1849 to 1907 when the Augustus St Gaudens designed double eagle took the stage and changed the course of history for the coin collector, the US Treasury as well as gold as a collectible and commodity.
There are three sub-types pf this Liberty Head gold coin. The first minting of this coin did not include the words “In God We Trust” as the phrase was added in 1866 creating the second type and the third type was minted in 1877 when the words describing the face value of the coin was changed from “Twenty D” to ” Twenty Dollars”.
While this coin is not as popular as the St Gaudens double eagle it is still sought after by collectors and gold investors becuause it is still gold and in these crazy economic times gold is as valuable as ever. Don’t miss the great deals you might be able to find on the Liberty Head gold double eagle.