Sunday, June 13, 2010

Million Dollar Face Value Gold Coin Goes on Sale by Auction June 25th

One of the world's largest and easily most valuable gold coins - a Canadian minted million dollar Maple Leaf, which weighs 100 kg and measures 20 inches (50 cm)  in diameter  is to go on sale by auction  in Austria on June 25th, reports Mineweb.  The coin has a CAD$1 million face value. The coin had been owned by an Austrian investment firm - AvW - which has been going through bankruptcy proceedings since May this year.  The coin was minted by the Royal Canadian Mint in 2007.

At the current gold price the coin is worth approximately US$3.95 million by its weight.

The million dollar gold Maple Leaf is .99999 pure gold.  Mineweb explaind, the coin was originally produced as a promotional product to give the mint a higher international profile.  It was conceived as a one-off showpiece to promote the mint's new line of 99.999% pure one ounce Gold Maple Leaf bullion coins but after several interested buyers came forward the mint announced it would manufacture them as ordered and sell them, at the time,  for between $2.5 million and $3 million. Initially there were five confirmed orders

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