Friday, October 28, 2011

$1 million coin: Too big to pocket. Too heavy to lift. [Video]


$1 million coin from Australia is bigger than a manhole cover and weighs a ton. So what will Australia do with a $1 million coin?
The Perth Mint unveiled a gold coin Thursday that stretches the definition of pocket change.
It's more than 31 inches wide and nearly 5 inches deep (imagine one really thick manhole cover). And it weighs 1.1 tons – not exactly walking around money.

Officially, the gold kangaroo is legal tender, picturing a kangaroo on one side and Queen Elizabeth II on the other. Although its face value is $1 million Australian (US $1.07 million), it's 99.99 percent pure gold, which makes its actual worth some about US $55 million at current gold prices.
The official Perth Mint, which created the coin, called it in a statement: " the biggest, heaviest, inherently most valuable gold bullion coin in the world."

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