May 4 2007$1 million coin


The crazies in Canada have created a $1 million coin. The coin weighs 220.5 pounds and is 21 inches in diameter. The hand crafted coins will be produced in extremely limited quantities, and at 99.999% purity, the gold in the coin is actually worth more than twice its $1 million face value. Which just sounds stupid. If you bought it and melted it down you'd already have doubled your investment. Or if you got me to sign it you'd have quadrupled it.


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Reader Comments

.... So THAT'S what we did with the surplus.

and it is for this reason everyone hates the Canadians, they make coins worth less than it costs to make it

Ha ha ha....yeah, us Canadians are pretty crazy. But at least we're liked all over the world! Ha! ^_^

And that idea STILL isn't as ridiculous as our latest unwanted dollar coin down here...

I don't think that's crazy, I think it's AWESOME!!! 100kg gold coin at 99.999% purity. You can't get any better than that! It just saw that in the local newspaper here in Taiwan this morning!

#2 - The US does that too; they're called pennies and nickels.

#6-but not with the margin here (although the sheer number of those two coins printed might make up for it....)

I think this is totally insane and makes me very proud to be canadian. Also, the mint isn't a retarded as you all seem to think. Some basic economics:
This coin is 'valued' at 1mil but that's irrelevant because it's being sold as a collectors item. It's like those old american arrowhead pennies that are 'a penny' but cost hundreds. I'm guessing it's price tag will be something like 2.5mil, and probably costs the mint 2.3 to make. Ergo, the mint makes a margin and a profit. of COURSE this coin will never, ever enter circulation. Firstly, whoever used this as currency would have to be an idiot financially due to the previously mentioned collectors market value of the coin. Secondly, you think anyone is going to carry around a 220 pound coin?? Imagine that at 7-11.

We now have two reasons Canada isn't worthless: Pamela Anderson and enormous gold coins.

imscuba - who hates Canadians? they are so lovable with their maple syrup and beavers.

Is that $1 million in Canadian dollars, if so it is worth even less around the world.

The Gold coin is being sold at 3 Million Dollars... however at the current rate that gold is trading at around 22,101 us dollars for a kilo... it is worth around 2,210,100 into canadian dollars that translates to 2,446,580.6852... so the mint is really making around 553, 420... less COGM... they arent going to make that much assuming that the people are selling the gold back to the mint.... which they proberbly wont.... but the universe is slowing at a massive rate thus making all human endevour pointless when the universe collapses in on itself...

Im going to bed....

#12 --hehehehhe---- "proberbly". hahahahahahahahahaha. don't try to say that was a typo, either.

opi, of course you can use this coin as currency. Just not at 7-11 after 11:00 PM, because then the Till Contains Less Than $50 and Clerk Cannot Open Safe.

Bulan's been watching Bailey.

Unfortunately, I worry that the coin will be stolen by a greedy, bird-like Pirates. And then the Canadians will curse the coin -they're wily like that- and then whoever steals the coin from the Pirate will lose their soul in the heat of passion and then Angelus will try to kill Jack and the coin will be taken by a Gangrel...wait a sec...*scratches head* rules!

Ah... A typo commado... awesome... Wittily you leap upon any grammatical/spelling error that I make in my comment. I actually missed some more if you want to look.

1) Oooop capital G when it should be a lowercase, oh and the m and d.
2)No apostrophes in aren't, won't or I'm.
3) Lack of full stops.

Hey you know what you could do that for every comment that you come across on the internet. If you arent too busy in your day job? Maybe you could take a crack at Year 9 again?

"-hehehehhe---- "proberbly". hahahahahahahahahaha. don't try to say that was a typo, either."

I especially like how in highlighting my error you punctuate your obvious mirth so irrepressibly, before obviously deducting my next move and then skillfully blocking it by saying 'don't try to say that was a typo, either. Brilliance.

Hate to break it to you, Jessie, but $1 CAD is up to $0.90 in USD. Not such a big difference.

Yes, yes. Canadians are so cuddly. Until one of em bites your hand off.

Why not mint huge million-dollar coins? Really, what else are Canadians going to do with their free time? Dog sledding and ice hockey does gets a bit redundant after a while...

The coins were given a face value of $1 million, if you would please check the website of the royal canadian mint, you may notice that there are no collecters coins that retail at their face value.

the truth is, this coin was minted in order to reduce a surplus of gold held by the mint, and all of them have been sold over seas... or to the states. they were sold at a markup on the value of the gold, and mostly for re-processing into jewelry.

sounds like "Yall" just paid for part of our free healh care.

Dude wtf. U don't pay face value for the coin you pay bullion value. that coin is a bullion coin which meens if the gold market ever collapsed and that coin's face value was worth more than the bullion you could get a refund from the government of Canada for the face value of the coin.that's why face value is so low! it isn't for spending!

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