* World largest gold coin fetches three mln euros at auction

[sushigirl]

An example of the largest gold coin in the world fetched
3.27 million euros (4.02 million dollars) at auction
on Friday in Vienna, auction house
Dorotheum said.



Photo:Dieter Nagl/AFP ~  2 hours, 15 minutes ago

VIENNA (AFP) - The coin -- measuring 53 centimetres (21 inches) in diameter and weighing 100 kilograms (220 pounds) -- was bought by Spanish precious metals firm Oro Direct.

The Maple Leaf coin, which is listed in the Guinness Book of World Records and carries a face value of one million Canadian dollars (800,000 euros, 970,000 US dollars), was minted in Canada in 2007.

However, with gold currently trading close to record highs around 1,250 dollars an ounce, the coin was auctioned off for far more than its face value.

One side of the coin carries the image of Queen Elizabeth II, the official head of state of Canada, while the other side bears three maple leaves, the national symbol.

The coin was owned by Austrian investment firm AvW, which entered bankruptcy proceedings in May.

[laconas]

What good is it? You can't put it your pocket, unless you're the Jolly Green Giant. Ho, Ho, Ho...

[sushigirl]

What good is it? You can't put it your pocket, unless you're the Jolly Green Giant. Ho, Ho, Ho...

As is? No good of course.

It could be melted down for one ounce gold coins, and a few smaller ones for change.   

[LoneWolf]

A friend snapped this picture when it was sitting for while in an office in downtown Toronto...



Wonder what the commission on the sale to Oz was...?



Pics are from early 2008.

[laconas]

However, with gold currently trading close to record highs around 1,250 dollars an ounce, the coin was auctioned off for far more than its face value.

Wacky article. Anyway, who ever bought this thing paid $1,139 per ounce. Of course the money to be made here is not from the gold,  but by charging people to see this thing.

[sushigirl]

Pics are from early 2008.

Good snapshot... nice catch.

[sushigirl]

Wacky article. Anyway, who ever bought this thing paid $1,139 per ounce. Of course the money to be made here is not from the gold,  but by charging people to see this thing.

The bullion dealers were fantasizing about $5000.00 per ounce a year or two ago.

I would not pay to see it.

[jacob gold]

Think a farm, growing food, plenty of ammo, and being remote. In a few years the inner cities will explode

[laconas]

The bullion dealers were fantasizing about $5000.00 per ounce a year or two ago.

I would not pay to see it.

It's not going to happen for many reasons. Perhaps the first reason might be that the trashiest women around the world would suddenly move-up a notch in the caste system by selling-off of all gaudy jewelery.

Resources like gold, oil, and steel are not the #1 commodity that creates wealth. The #1 commodity that creates wealth is slave labor aka by the euphesism as "human capital."

If you look at the chart at this page you"ll see the top GDP nations around the world are resource poor and "human capital" rich. https://www.cia.gov/library/publications/the-world-factbook/rankorder/2001rank.html

A few years ago the term GNP(gross national product) was changed to GDP(gross domestic product). It probably has something to do with the new global outreach vs a national reach, but that's another story for another time.

Anyway, the bottom line is wood, stones, and metals is not what what makes our oligarchs rich, it's slave labor(human capital) that hands-over 60% of their earnings in the form of taxes and interest. And this has remained a constant since Egypt, Rome, the Confederate South, and our post 1913 IRS /Federal Reserve era.

[OldTimes]

Anyway, who ever bought this thing paid $1,139 per ounce.

That's not true.  Current $1256/oz price means $40.38/gram, or $40,388 for one kilogram.  Looks like $4.02M (3.27M euros) would be almost exactly spot price on that day.  Not leaving much of a premium for the folks that made the coin.  So I guess whoever bought it must have thought it wasn't good for anything except its weight in gold, either.

[Mel Gibstein]

You can buy a lot of rocks with toilet paper. I usually just leave the toilet paper with the rocks.

[laconas]

That's not true.  Current $1256/oz price means $40.38/gram, or $40,388 for one kilogram.  Looks like $4.02M (3.27M euros) would be almost exactly spot price on that day.  Not leaving much of a premium for the folks that made the coin.  So I guess whoever bought it must have thought it wasn't good for anything except its weight in gold, either.

35.27 ounces per kilo, or $44,092 per kilo of gold at $1,250 per ounce. 100 kilos X $44,092 is somewhere around $4.4 million.

[OldTimes]

It's not going to happen for many reasons. Perhaps the first reason might be that the trashiest women around the world would suddenly move-up a notch in the caste system by selling-off of all gaudy jewelery.

haha... that's like saying gold can't move up because then all the Indian women would be rich - since we are used to seeing them poor, and cannot believe they could be rich, therefore we cannot believe gold can go up.

Resources like gold, oil, and steel are not the #1 commodity that creates wealth. The #1 commodity that creates wealth is slave labor aka by the euphesism as "human capital."

Still true, but that could be what's changing.  As jew lies crumble, ponzi schemes start coming down.
Ponzi schemes are what allow the jews to organize goy into "human capital" and take advantage.

[OldTimes]

35.27 ounces per kilo, or $44,092 per kilo of gold at $1,250 per ounce. 100 kilos X $44,092 is somewhere around $4.4 million.

32.15 troy ounces per kilogram, not 35.27.
You are confusing troy ounces with avoirdupois ounces.
The market prices are for troy ounces.

[laconas]

Ok, that makes sense, even though it's about 10% less.

[sushigirl]

It's not going to happen for many reasons. Perhaps the first reason might be that the trashiest women around the world would suddenly move-up a notch in the caste system by selling-off of all gaudy jewelery.

Resources like gold, oil, and steel are not the #1 commodity that creates wealth. The #1 commodity that creates wealth is slave labor aka by the euphesism as "human capital."

If you look at the chart at this page you"ll see the top GDP nations around the world are resource poor and "human capital" rich. https://www.cia.gov/library/publications/the-world-factbook/rankorder/2001rank.html

A few years ago the term GNP(gross national product) was changed to GDP(gross domestic product). It probably has something to do with the new global outreach vs a national reach, but that's another story for another time.

Anyway, the bottom line is wood, stones, and metals is not what what makes our oligarchs rich, it's slave labor(human capital) that hands-over 60% of their earnings in the form of taxes and interest. And this has remained a constant since Egypt, Rome, the Confederate South, and our post 1913 IRS /Federal Reserve era.

Agreed!!! 100%

[FrontierJustice]

Think a farm, growing food, plenty of ammo, and being remote. In a few years the inner cities will explode

That's about all I can be certain of looking to the future.