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 Replies: 29 / Views: 5,609 |
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Valued Member
Australia
490 Posts |
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Valued Member
Australia
193 Posts |
Maybe it is a special bullion coin commission to be issued by Zimbabwe.
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Pillar of the Community
Australia
1244 Posts |
WOW!
This coin description has been left out of the EXPLANATORY STATEMENT,
Which indicates this is being made privately.
Special edition to someone who has $millions to spend
2012 Investor Kangaroo -- Gold Bullion Coin
The design on the Investor Kangaroo gold bullion coins depicts a representation of a kangaroo surrounded by sunrays. Immediately inside the rim of the coin, a circle of raised beads appear, and includes the inscriptions ‘RED KANGAROO', ‘2012', ‘AUSTRALIAN KANGAROO 1 TONNE ' along with the weight of the coin and ‘9999 GOLD'.
Face value $1000000
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Pillar of the Community
Australia
1244 Posts |
Coin will look similar to this picture  |
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Valued Member
Australia
278 Posts |
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Valued Member
Australia
278 Posts |
scrap last post refreshed it a few times and now it is fine.
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Valued Member
195 Posts |
Not what I would call a coin as such
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Valued Member
 Australia
490 Posts |
LOL - yes Wesley, would be hard to get this one into your pocket! And I can't imagine the size of the pinball machine that this would go into!!  ! |
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Pillar of the Community
Australia
1244 Posts |
Found the pics that the design is based on.   |
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Valued Member
Australia
490 Posts |
nice. now, where did I leave that spare million dollars?
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Pillar of the Community
Australia
2830 Posts |
putting the Treasury specification together:
Denomination - $1,000,000
Standard composition - At least 99.99% gold
Standard weight and allowable variation (g) - 1,000,000 ± 25,000
Maximum diameter (mm) - 1000
Maximum thickness (mm) - 200
Reverse R27 - A design consisting of :
(a) a representation of sunrays surrounding the following:
(i) a representation of a kangaroo;
(ii) ‘P';
(iii) ‘RED KANGAROO'; and
(b) immediately inside the rim of the coin, a circle of raised beads surrounding the following:
(i) ‘2012';
(ii) ‘AUSTRALIAN KANGAROO 1 TONNE 9999 GOLD'
so, a million grams of gold, with a face value of a million dollars:
with gold currently at US$1,600 per oz, about $50 per gram, the Mint would only break even with this one if they sold it for $50million.
I wouldn't be happy if I got the one with the maximum "allowable variation" = 25 KG !
A disc of 1,000mm dia, and 200mm thickness (100cm; 20cm), would be 157,079.5 cc.
Density of gold = 19.30 g/cm3
which would weigh more than three tonnes.
Is this how Treasury does the budget ?
Peter
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Valued Member
Australia
151 Posts |
Love to see the guys faces when you drop it in to be slabbed at a TPG. |
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Pillar of the Community
Australia
2830 Posts |
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Valued Member
Australia
490 Posts |
I was trawling through old currency determinations looking for references to some coins I have that don't seen to be there (or else the determination is not published - either way, v frustrating... :-(
anyway, I came across two other older $1m gold coins... looks like the PM has made them before (or at least had the ability to make them before). I didn't note the reference, but will look them up again and list them here.
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Rest in Peace
United States
9104 Posts |
Quote:
the Mint would only break even with this one if they sold it for $50million.
It will be sold for a profit. The face value makes it a coin instead of bullion. They call it $1 million instead of $50 million, because they don't want it back if PM drops like happened with Canadian $5-10 coins when scrap dropped to around 70% of face. |
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Valued Member
195 Posts |
I doubt this will become a reality
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Replies: 29 / Views: 5,609 |
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Posted 07/11/2011 10:36 pm
