Australia Mints One-Ton Coin

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

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