World’s Largest, Purest Gold Coin Sold For Spot Price!

January 27th, 2014 by

100kg-gold-maple-coin

A 100kg solid gold Canadian Maple Leaf coin was recently purchased at bankruptcy auction in Vienna, for spot price – the raw metal value of the coin. This 2007 Gold Maple Leaf 100 kg coin is one of only five made, and is the largest coin in the world available for purchase (the Perth Mint in Australia has minted a single 1000 kg gold coin, but it is not for sale.)

The coin in question had been purchased by Austrian investment firm AvW Investments, and was offered up at auction by liquidators after the company went under for fraudulent activities. The 220.5 lb coin was purchased for the opening price of €3.27 million by Spanish precious metals dealer ORO Direct.

Carrying a face value of $1 million Canadian, the initial 100kg Gold Maple Leaf coin was made to celebrate the Gold Maple Leaf investment coin changing from .9999 fine to the extra-pure “five nines” .99999 fine gold standard in 2007. The Gold Maple Leaf remains the world’s only unlimited mintage 99.999% pure gold coin. This level of purity means that less than 10 parts in one million are not gold.

Weighing 3,215 troy ounces, and measuring 500mm across and 30mm thick, it takes six weeks to make a single one of these coins. All five, including the original, have been purchased by extremely wealthy investors.

by Steven Cochran