Largest Coin In The World

[avidbrandy]

Because, why not?

http://nation.com.pk/pakistan-news-news ... n-unveiled

[shinnosuke]

Face value only $1MM Aus?

[avidbrandy]

Face value only $1MM Aus?

yea like the gold eagles are only $50. Speaking of which I'll give you $100 each if you got any. "Double your money"

[wbeck]

And I thought I was cool with my 5oz Liberty Dollar... Now I feel inadequate!

Now this is pretty awesome and all... But is it just me, or does a government spending 55 MILLION DOLLARS just to make something that's "cool" seem a little frivolous. Only other thing, is why did they make it so thick! Scarcely looks like a coin with those dimensions. Should have made it larger diameter and thinner, would have looked more impressive that way.

[avidbrandy]

My guess would be that the weight of it would crush itself if they made it thinner.

[barrytrot]

And I thought I was cool with my 5oz Liberty Dollar... Now I feel inadequate!

Now this is pretty awesome and all... But is it just me, or does a government spending 55 MILLION DOLLARS just to make something that's "cool" seem a little frivolous. Only other thing, is why did they make it so thick! Scarcely looks like a coin with those dimensions. Should have made it larger diameter and thinner, would have looked more impressive that way.

The retail value is over the price of the gold, so it's a profit center. Not the ROI of the "25th anniversary eagles" but it's not a waste of money by any means

Also, unless this is new it was issued when gold was much lower.

[TXBullion]

And I thought I was cool with my 5oz Liberty Dollar... Now I feel inadequate!

Now this is pretty awesome and all... But is it just me, or does a government spending 55 MILLION DOLLARS just to make something that's "cool" seem a little frivolous. Only other thing, is why did they make it so thick! Scarcely looks like a coin with those dimensions. Should have made it larger diameter and thinner, would have looked more impressive that way.

The retail value is over the price of the gold, so it's a profit center. Not the ROI of the "25th anniversary eagles" but it's not a waste of money by any means

Also, unless this is new it was issued when gold was much lower.

Took 18 months to make so they have a lower cost basis on their material depending on how they do their accounting

[barrytrot]

Took 18 months to make so they have a lower cost basis on their material depending on how they do their accounting

For some reason this made me bust out laughing. I was thinking how the accounting guys were "hey we made money just by sitting around again! Woo hoo!"

[oktyabyr]

Took 18 months to make so they have a lower cost basis on their material depending on how they do their accounting

For some reason this made me bust out laughing. I was thinking how the accounting guys were "hey we made money just by sitting around again! Woo hoo!"

That's government accounting for you.

[wbeck]

avidbrandy, could be right about it crushing itself if it were thinner.

Barry, that would be true... If they were to sell it! Otherwise the Aussie government just issued bonds, with interest, to spend tens of millions on it so it can sit there. Now I'm not opposed to governments actually having lots of gold/silver around, but from a fiat believers perspective I could see them getting a bit ticked. I suppose if this were gold they'd simply have in reserve it wouldn't matter much anyway though, aside from the labor of turning it into something cooler than boring old gigantic gold bullion bars

[TXBullion]

Took 18 months to make so they have a lower cost basis on their material depending on how they do their accounting

For some reason this made me bust out laughing. I was thinking how the accounting guys were "hey we made money just by sitting around again! Woo hoo!"

I was thinking they probably always have bullion that they hedge. Just depends on when they expense it out I suppose. Maybe took all the materials upfront or 100 pounds every few weeks. I really have no idea but figured it was a few parts to the equation

[Silver Addict]

Now this is pretty awesome and all... But is it just me, or does a government spending 55 MILLION DOLLARS just to make something that's "cool" seem a little frivolous. Only other thing, is why did they make it so thick! Scarcely looks like a coin with those dimensions. Should have made it larger diameter and thinner, would have looked more impressive that way.

Other than the labor involved in making it, how does it differ from any other gov't holding 1tonne worth of 400oz bars. If the US Mint were gonna make a huge GAE, they could use US owned gold. Why would they have to go out on the open market and purchase it? I'd assume this is where the 1 tonne of gold came from for this coin....Australian gold holdings. Of course, I could be totally wrong.....

[fansubs_ca]

They are sitting on a big pile of other people's gold (and silver) under their certificate program:

http://www.perthmint.com.au/investment_certificate.aspx

So basically this is most likely made of borrowed gold, the labour/energy being the only
real "cost" to them. They don't even have to pay rental in the leasing market. If the
coin isn't ever sold it could technically be broken up to pay out certificate holders if
nesseccary.

[pennymanofmoney]

Wow! A million dollar coin. Is there any denomination bigger?