Tuesday 18 June 2013

Canada made a usable $1,000,000 coin!

A coin was actually introduced in 1979 sporting the official Canadian maple leaf and it is the official bullion gold coin of Canada produced by the Royal Canadian Mint. Walter Ott spear headed the idea of the coin. It is one of the purest gold regular-issue coins of the world. The coin has a gold content of .9999 millesimal fineness.

It literally has no base metals in it. It is pure gold from Canadian mines.

In 2007, the Royal Canadian Mint introduced a coin worth $1,000,000. At the time, the gold content was actually worth $2,000,000. It measures 50 centimeters in diameter by 3 centimeters thick. Its mass is 100 kilograms and has a purity of 99.9999 percent. It is mainly a promotional product designed by Stanley Witten.

The idea is that it’ll give the mint a higher international profile. The coin was a kick-off to showcase the mint’s new line of 99.9999 percent, pure, one ounce Gold Maple Leaf bullion coins. After several buyers came forward, the mint decided to make the $1,000,000 coin and sell it for $2 to $3 million.

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