Saturday, November 5, 2011

Australia's $50 Million Coin

In October 2011, Australia's Perth Mint unveiled a project that they had spent the last 18 months creating - a coin more than 30 inches (80 cm) across, 4 inches (12 cm) thick, weighing over 2200 pounds (1000 kg) and made of solid gold.  The coin has a denomination (value printed on the coin) of $1,000,000 Australian dollars, but the gold in the coin itself is worth more than $50 million (US dollars) at today's gold prices.

The coin was cast - melted gold was poured into a mold - rather than the normal process of mass-creating  coins (stamping the design onto a plain metal disc, called striking).

News articles say that this is now the largest gold coin in the world, and is 10 times larger (by weight) than the previous record holders.

The Perth Mint has a Web site at with a video of how the coin was made (also embedded below) and pictures, but surprisingly little other information about the coin or why it was made.  There are many news articles about the coin, such as:

Don't think about trying to get this coin for your collection.  I don't think Australia's going to want to let this coin out of its sight.  And I can guarantee that there isn't a coin flip big enough to properly store this giant.