
The Royal Canadian Mint was highly appreciated in the Guinness Book of Records for its innovative approach towards producing coinage products. The RCM created a 100-kg (220lb) bullion coin, being made of 99.999 percent pure gold, which was registered in the Guinness Book of Records. Coin's face value is $1 million.
Not only has the price of the coin surprised but its parameters as well.
The coin was huge enough to bust the Guinness World Record as the largest gold coin ever created.
"This recognition is a wonderful endorsement of the incomparable skill and imagination of the people who work at the Royal Canadian Mint. The Mint has long been recognized as one of the most innovative in the world and the Guinness World Record is further evidence of this fact" outlined off the record Ian E. Bennett, the President and CEO of the Royal Canadian Mint.
The coin is definitely amazing, but what is more important is its $1 million face value, which is really small if compared to the true value of gold content of the bullion coin.
On October 18, the price of the gold spot closed at a price of $764.15 per ounce. Considering the weight of the gold coin, which is 3,215 troy (troy ounce = 31,103 grams) the real value of the coins, according to calculations, in fact is $2,456, 742.
It is worth noting that the Royal Canadian Mint has produced five of such coins.
Not only has the price of the coin surprised but its parameters as well.
The coin was huge enough to bust the Guinness World Record as the largest gold coin ever created.
"This recognition is a wonderful endorsement of the incomparable skill and imagination of the people who work at the Royal Canadian Mint. The Mint has long been recognized as one of the most innovative in the world and the Guinness World Record is further evidence of this fact" outlined off the record Ian E. Bennett, the President and CEO of the Royal Canadian Mint.
The coin is definitely amazing, but what is more important is its $1 million face value, which is really small if compared to the true value of gold content of the bullion coin.
On October 18, the price of the gold spot closed at a price of $764.15 per ounce. Considering the weight of the gold coin, which is 3,215 troy (troy ounce = 31,103 grams) the real value of the coins, according to calculations, in fact is $2,456, 742.
It is worth noting that the Royal Canadian Mint has produced five of such coins.

