Monday, April 4, 2016
One of the rarest gold coins ever made is back on the market, with a price tag of around £3.8 million at current gold prices.
The Royal Canadian Mint only made five of the giant 99.999 per cent pure gold coins in 2007. They were dubbed the million dollar coins but have since soared in price, showing the value that gold coin investment can earn in the longer-term.
The coins weigh in at a hefty 3,215 troy ounces each. All five were bought by private investors and only one is currently for sale. The coins were originally designed as showpieces, but they are legal tender in Canada with a face value of Can. $1 million. However, both the gold price and the rarity of the coins have pushed up the price that collectors are willing to pay for them.
The bullion coin is one of the largest ever made. It features a portrait of the Queen by Canadian artist Susanna Blunt on the obverse side. On the tails side is a maple leaf designed by Stan Witton of the Royal Canadian Mint.
The mint is a well-known designer of collectible coins in both gold and silver. It’s the home of the popular Canadian Maple Leaf gold and silver bullion coins.
However, it also produces a range of special edition coins for investors and collectors. Among this year’s unusual editions are a range of Batman v Superman: Dawn of Justice coins that were created as a tie-in with the new Hollywood movie. It has also enjoyed strong sales this year of its limited edition Call of the Wild series which features Canadian wildlife.
Collecting coins is a popular way to begin investing in gold. As well as the intrinsic value of the precious metal in the coins, by choosing limited edition runs, collectors can also add value to their investment through the rarity value of the coins.