Spare any change? Canada unveils C$1 million coin

Royal Canadian Mint unveils the world's biggest, purest and highest denomination coin, C$1 Million dollars worth weighs 100 kilograms.

The Royal Canadian Mint unveiled a welcome addition to any piggy bank on Thursday -- a monster gold coin with a face value of C$1 million (455,000 pounds) that it says is the world's biggest, purest and highest denomination coin. This C$1 Million dollar coin weighs 100 kilograms (220.5 pounds), is the world’s highest denomination coin currency, the nearest one weighs only 31 kg (68 pound) called “Big Phil” to honor the Vienna Philharmonic Orchestra and also has a smaller value, 100,000 Euros (C$150,000). The Reuters article says the Canadian mint wanted to promote the new one ounce gold coins, so they released this 100 kg coins for publicity purposes. The 100 kg coin will be produced in limited quantities, while the one ounce gold coin will be produced in large quantities... The size of the 100 kg coin is like that of an extra large pizza. Its dimensions are 53 centimeters (21 inches) in diameter and over 3 cm (1.2 inches) thick. The Canadian mint said it required a lot of hand crafting work. While it has a C$1 million face value, the coin is worth more than twice that amount given the current gold price of $683.30 an ounce. The new coins are both adorned with a maple leaf and boast 99.999 percent purity, a notch above previous purity peaks of 99.99 percent. Because of the increased purity level in these gold coins, many have contacted Royal Canadian Mint to buy more of its coins. Countries like U.S., Australia, and Austria have shown a keen interest in these products. Royal Canadian Mint wanted to create something unique that will be very different from the rest in the Gold coin industry. The total gold bullion and refinery services in Canada has generated C$281 Million dollars in revenues in 2006 nearly half of its total sales C$494 Million dollars. Gold is a good investment its value constantly increases and is always in demand.