1-metric-ton gold coin minted in Australia

[Mogambo Guru]

http://community.o2online.ie/t5/image/serverpage/image-id/1032i4E0B9A47D8C51C43/image-size/original?v=mpbl-1&px=-1

Awesome! It would be sweet if i could open up my wallet and be able to buy this bad boy!!

http://www.australiangeographic.com.au/assets/images/article/journal/10164/CEO-gold-coin.jpg


.....putting the value of the gold in the coin at more than $60 million.

[matt0611]

Imagine asking for change with that thing? LMAO

[muzzled dogg]

Lol @ that homer

[Mogambo Guru]

Imagine asking for change with that thing? LMAO

I like your avatar.. Ron is awesome!


“My idea of a perfect government is one guy who sits in a small room at a desk, and the only thing he’s allowed to decide is who to nuke. The man is chosen based on some kind of IQ test, and maybe also a physical tournament, like a decathlon. And women are brought to him, maybe ... when he desires them.”





“Under my tutelage, you will grow from boys into men, from men into gladiators and from gladiators into Swansons.”

[brandon]

Interesting. I wonder why anyone would want such a thing. I don't mean for free, of course anyone would take it for free. But who would pay market value for something that seems it would be incredibly illiquid. Wouldn't buying 1 or 5lb bars make more sense?

Edit: Makes sense now, it's just the product of their government getting in a pissing contest.



The [perth] Mint appears to be settling something of a grudge. Its 10-kilogram bullion coins were the world’s biggest until 2007, when the Royal Canadian Mint retaliated with the 100-kilogram Gold Maple Leaf, a dinner-plate-sized issue weighing more than an adult man.


And the icing on the cake:


The Gold Kangaroo is legal tender, but its face value of A$1 million means that, at current gold prices, you’d crystallise a 98% loss on the metal value as soon as you spent it. Melting the thing down into bars would be more profitable, but it’s also illegal.

http://blogs.wsj.com/scene/2011/10/28/the-55-million-1-ton-gold-coin/

[Cowlesy]

Imagine if that thing rolled off the table and fell on your foot. Ouch.

[Seraphim]

Wow talk about over kill...lol

[Kludge]

That's funny right thar.... see, the nominal value of the coin is $1m, while the melt value is $60m. The nominal value of a paper dollar is $1, while the melt value is $0.

I ain't got no fancy framed document, But I has read a few books.... and sometimes I wonder if they's manipulating the currency market somehow.

[fisharmor]

Probably full of chocolate.

[Acala]

Once we are all back in line with human history and are using gold as money again, a huge asteroid made of solid gold will hit the earth. After that, this coin will be the average hourly wage.

[Cowlesy]

Once we are all back in line with human history and are using gold as money again, a huge asteroid made of solid gold will hit the earth. After that, this coin will be the average hourly wage.

It's going to soft land in my backyard and then it's all MINE.

[brandon]

It's going to soft land in my backyard and then it's all MINE.

Don't let the 99% know!

[123tim]

Don't let the 99% know!

Or NASA.

[123tim]

Video detailing the production of the coin:


http://www.youtube.com/watch?v=R1KoF8Ik24Y&feature=player_detailpage

[123tim]

Interesting. I wonder why anyone would want such a thing. I don't mean for free, of course anyone would take it for free. But who would pay market value for something that seems it would be incredibly illiquid. Wouldn't buying 1 or 5lb bars make more sense?

Edit: Makes sense now, it's just the product of their government getting in a pissing contest.





And the icing on the cake:



http://blogs.wsj.com/scene/2011/10/28/the-55-million-1-ton-gold-coin/

You must be right....Certainly seems that Canada is in a competition at least.

Here's a video of the previous "Largest Gold coin":

http://www.youtube.com/watch?v=Disuoesv8eY&feature=player_detailpage


Cowsley, thanks for the post.......Most interesting thing that I've seen this week.

[Bruno]

That's funny right thar.... see, the nominal value of the coin is $1m, while the melt value is $60m. The nominal value of a paper dollar is $1, while the melt value is $0.

I ain't got no fancy framed document, But I has read a few books.... and sometimes I wonder if they's manipulating the currency market somehow.

Nice catch!

With that melt rate, you could buy one coin for $1,000,000, sell it for $60,000,000, and then buy 60 more at $1 M each, selling those for $3,600,000,000 You'd be a "multi-bullionaire" with your second transaction.

Fun to play with the ironic symbolism they have created when not really having a dollar backed by gold.

[Xenophage]

http://www.youtube.com/watch?v=Gk5aRIz17fk

People are clueless.