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Monday, 30th July 2007 (3363 views)

The largest gold coin in the world is going to be auctioned this summer and contains more than $2 million worth of gold bullion.

One of a series of five gold coins planned by the Royal Canadian Mint, the new 24-karat coin sets a new standard for purity, at 99.999 per cent solid gold bullion.

Minted from 220lbs of gold (100 kilograms), the coin is the heaviest in the world and more than three times the size of the previous biggest coin, created by the Austrian mint in 1994. It is over 100 inches in diameter, one inch thick and weighs more than 220lbs (3,215 troy ounces).

The giant coin is the most valuable ever offered in an online auction and it will be sold in the Teletrade Premier Plus auction on August 16th this year.

"This is an exciting, two-fold event for us and the entire numismatic community," said Ian Russell, president of Teletrade, based in Irvine, California.

Bidding started on July 29th 2007 and an example of the gold coin will be exhibited at the Royal Canadian Mint during the American Numismatic Association's World's Fair of Money in Milwaukee next month.

Teletrade is a division of Spectrum Numismatics International, which has purchased the first three 100 kilo coins created by the Royal Canadian Mint.

 

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