$1 Million Coin Created by Perth Mint in 99.9% Gold Bullion

1 million coin Perth MintA $1 million dollar coin created by the Perth Mint is forged in 99.9% gold bullion and was unveiled late last week by CEO, Ed Harbuz. The Perth Mint is in Perth, Australia and has stated that they have created a bullion coin that now ranks in at the largest and most valuable.

The $1 million dollar bullion coin has a denomination value of AUS $1 million. The total weight of the coin is 1,012 kilograms or about 1.2 tons of gold. The coin is essentially 100% solid gold but technically is 99.99 percent pure gold bullion. The size of the coin in recognizable terms is about the size of a US manhole cover that you would find on the street.

Perth Mint Million Coin MoldActual size specifications are 31 1/2 inches wide and 4 1/2 inches deep. If you were to cash in this amount of gold the current market value of it comes in at around $58.88 million dollars for it’s total weight by the current ounce price of gold. The coin features a gold kangaroo on the front and Queen Elizabeth II on the backside. The official statement from the CEO of the Perth Mint, Ed Harbuz was that this coin is, “the biggest, heaviest, inherently most valuable gold bullion coin in the world.”

The reasoning for crafting this world record $1 million dollar gold coin was to raise theĀ prominenceĀ of the Australian Kangaroo Gold Bullion coin according to Mr. Harbuz. We suspect one of the other reasons was to take away the spot from the other world record holder of gold bullion dollar coins created by the Royal Canadian Mint which had created multiple 100 kilogram gold bullion coins. The new Australian gold bullion coin is essentially 10 times larger by weight and value.

You can watch a video on exactly how the World Record $1 million coin was created at the Perth Mint below.

2 Comments on "$1 Million Coin Created by Perth Mint in 99.9% Gold Bullion"

  1. Tills Familiaris | November 6, 2011 at 12:38 pm | Reply

    In view of the silly season approaching, let’s get our priorities right here. Could you loan out that metal punch to the chocolate manufacturers, so they can print some chocolate $1 million coins for Christmas? Come on, the kids at the childrens’ hospital would get better overnight if someone carried that chocolate $1 million coin through the wards at the hospital! I don’t mind whose picture is on the other side – the Queen, a shiek of Arabia, Neil Armstrong, someone who works at the Chocolate Factory, current prime minister – convertible easily by rubbing on the chocolate leader’s face just in case it changes again after Christmas, anyone will do – just issue one in chocolate. Come on, do it for the kids – It’s Christmas!

  2. Do you think Australian really happy to see the Elizabeth’s portrait on the half of the coin? I mean, look, we live in time that people are more important than kings, queens, royals, Arab sheikhs or great ayatollahs. Even as a symbol it is meaningless and unacceptable to give such a importance to one person or family. Consider the fact that Steve Jobs was ten times popular than any king or queen but putting his portrait on such a coin would be interpreted as egoism and narcissism.

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