A $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.
Actual 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 the prominence 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.