The world's biggest, heaviest and most valuable gold coin will make its U.S. debut at the New York Stock Exchange (NYSE) today, July 16.
For only 12 hours today; 7 a.m. to 7 p.m.; the "1 Tonne Australian Kangaroo" gold coin will be on public display in Experience Square, just outside the NYSE on Broad Street.
Made from 99.99% pure gold, the coin measures 80 cm (31.5 inches) wide and 12 cm (4.5 inches) thick. It weighs one metric ton, which is equivalent to 2,200 pounds or 35,274 ounces. The coin has a face value of $1 million, but at today's gold price, the precious metal alone is worth $49.3 million. "Face value" of coins rarely match the actual value. A pure silver American Eagle coin has a face value of just one dollar but contains one ounce of silver, worth roughly $15. A pure gold American Eagle coin has a face value of just fifty dollars but contains one ounce of gold, worth roughly $1,400.
The Perth Mint created the "1 Tonne Australian Kangaroo" in 2011 to bring worldwide attention to its popular annual Australian Kangaroo Gold Bullion Coin Series. A year later, Guinness World Records affirmed its status as the world's largest coin.
The reverse design depicts a bounding red kangaroo surrounded by stylized rays of sunlight. The coin is bordered by the inscription AUSTRALIAN KANGAROO 1 TONNE 9999 GOLD and the year 2012.
The obverse of the coin portrays the Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II, accompanied by the inscriptions ELIZABETH II, AUSTRALIA and the monetary denomination of 1 MILLION DOLLARS.
The enormous gold coin has rarely left its permanent display at The Perth Mint’s Gold Exhibition in the Land Down Under. It did embark on a promotional tour across Asia and Europe in 2014, and now it is traveling halfway around the world for the one-day New York exhibition.
The Australian coin is 10 times heavier than the previous record-holder, a 100 kg (220 pound) coin designed by the Royal Canadian Mint.
Credits: Images courtesy of The Perth Mint.