Australia Mints One-Ton Coin

Face value is $1M, but it's worth more than 50 times that
By Matt Cantor,  Newser Staff
Posted Oct 27, 2011 2:36 PM CDT
Australia Mints One-Ton Coin
A $1 million Australian coin is shown at the Commonwealth Heads of Government Meeting in Perth on October 27, 2011.   (Getty Images)

Australia's Perth Mint has created the world’s biggest gold coin—more than a ton of 99.99% pure gold, the Sydney Morning Herald reports. The coin’s face value is $1 million Australian dollars—just over $1 million American—but it’s worth more like $57 million American. At 31 inches wide and almost 5 inches thick, the coin is “the pinnacle of ingenuity and innovation,” said the CEO of the mint. One side features Queen Elizabeth, the other a kangaroo, notes the Telegraph. (More Australia stories.)

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