Australian Mint Creates One-Ton Coin

James Johnson - Author

Jun. 16 2013, Updated 12:34 a.m. ET

The Perth Mint of Australia has created the world’s heaviest and most valuable gold coin. The new coin weighs in at 1012 kilograms and is 99.99 percent pure gold.

The denomination is worth $1 million AUS dollars, just over $1 million USD although the coins actual value is estimated to be worth a gold value of $53.5 million.

The coin is 80 centimeters wide and 12 centimeters deep and took 18 months to create. On one side of the massive coin is a red kangaroo while the other side features a picture of the Queen.

Speaking to the Sydney Morning Herald Perth Mint chief executive Ed Harbuz said the coin is the “pinnacle of ingenuity and innovation” while he added:

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“To cast and handcraft a coin of this size and weight was an incredible challenge — one which few other mints would even consider.”

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The mint created the coin as a showpiece for the Australian kangaroo gold bullion coin program while several smaller versions of the coin will debut next week.

Weight and purity of the massive gold is guaranteed by the West Australian government.


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