Canadian Mint Issues $1,000,000 Face Value Coin

The Royal Canadian Mint (RCM) has issued a gold bullion coin bearing a $1 million face value as a promotional tie-in to its newly refined Maple Leaf bullion coin series. This massive gold coin, which weighs 100 kilograms, (220.46 pounds,) has a purity level the RCM calls "Five 9s." Previous gold bullion coins, including those of the U.S. and Canada, have been made to a so-called "Four 9s" standard, meaning the gold purity is 99.99%. The new Canadian $1 million coin, and the Maple Leaf bullion coins issued henceforward, will assay to 99.999% pure, currently the most refined gold coins in the world.

The Canadian $1 million Maple Leaf coin is the size of a solid gold motorcycle tire! It is 50 cm (19.7 in.) in diameter, and 3 cm (1.2 in.) thick. Although the face value is $1 million, a quick math calculation tells us that the bullion value of the coin, at more than 3,200 ounces, makes it worth quite a bit more than this. Indeed, in the fine tradition of bullion coinage, the $1 million face value Maple Leaf currently sells for about CDN $3 million and the price is subject to fluctuate based on the bullion value of gold. Total mintage is expected to be around 10 specimens. Although there is no firm mintage limit set, the estimate of 10 is based on the RCM's capacity to create these stupendnous coins. People who wish to buy one had better act fast, because at least 6 are already spoken for!

The Royal Canadian Mint says it takes about 6 weeks to make each one of these huge coins, which are made through an extremely high quality casting process. They are being made to order because of the great time and expense commitment involved in their production. Although the RCM wouldn't mind selling all 10 or so potential specimens, the real reason they made these coins was to draw attention to the new "Five 9s" standard of purity for the regular Maple Leaf issues. The RCM is proud to be able to offer the "finest and purest gold coins in the world." In fact, it was the RCM that set the "Four 9s" standard back in 1982, which many countries who issue gold bullion coins have caught up with, costing the RCM market share.

One other benefit for the RCM from its $1 million coin is that it now holds the Guiness World Record for the largest coin, earning the RCM a listing in the Guiness Book of World Records. The previous record holder was Austria, for its 100,000 Euro coin weighing 31 kg (about 68.4 pounds,) with a diameter of 37 cm (about 14.6 in.)

An optional accessory is available for the $1,000,000 Maple Leaf Coin: a custom made granite display stand costing CDN $10,000. This granite stand will allow a buyer to show off their fabulous treasure! If they'd rather just stash it away in a vault somewhere, that's easy, too! The coin comes with its own custom carrying/transport case. For my part, I guess I'll have to make do with the little round clear plastic coin holder the dealer gives me free with my 1/10 ounce Maple Leaf. :)

Photo courtesy of the Royal Canadian Mint.