|
| Author |
Message |
TreasHunt
User is Offline
Joined: 18 May 2007
Posts: 314
|
| Posted: Fri Jul 06, 2007 2:06 pm Post subject: Canada Sells 5 $1,000,000 Gold coins! |
|
|
Tim Naumetz, CanWest News Service
Published: Friday, June 29, 2007
OTTAWA — The Royal Canadian Mint has sold five of its $1-million gold collector coins, and at least four of them are headed where the money is — to the West Coast.
Mysteriously, no precious-metal traders interviewed Friday knew who bought the fifth coin, despite the industry’s busy grapevine.
But as the mint and the dealers disclosed, a million bucks is just the face value of the 100-kilogram, 99.999-per-cent-pure gold coins.
The mint sold them for at least $2.3 million apiece based on market values — and their value will increase with buyer speculation, according to one of the traders.
A spokeswoman for the mint declined to disclose the names of the dealers who bought the precious pieces of bullion — which have yet to be made at the collector-coin-minting facilities on Sussex Drive in Ottawa.
But J & M Jewellery Ltd. of Vancouver confirmed it did purchase one — after paying the mint $175,000 down — but has already sold it to a wealthy buyer who remains anonymous.
J & M founder and owner Joseph Iorio said it’s unlikely his secret customer is about to put it on display in the living room. “I don’t think anyone would mount it anywhere,” said Iorio.
Three of the remaining five coins — also still to be minted in Ottawa — are destined for California.
An official with A-Mark Precious Metals Inc. of Santa Monica, Calif., confirmed his firm bought three of the coins, but he would not discuss their fate.
Pam Aung Thin, head of communications at the mint, confirmed a total of five of the rare coins have been sold since the mint launched the line last May.
Risk of interception — no surprise here — will be top of mind when the coins are shipped.
“It’s very tight security,” said Aung Thin. “I can’t give you any more details than that. It involves a lot of planning and logistics.”
The mint intends to print more coins only to meet new orders, she added. “We’re not mass-producing these,” she said.
So what kind of person buys a gold coin worth more than $2 million?
The first qualification is disposable wealth, says Iorio. The second may be ego.
“I guess they feel important,” she said.
Ottawa Citizen
© CanWest News Service 2007 |
|
| Back to top |
|
|
hamman88
User is Offline
Joined: 06 Jul 2007
Posts: 4
|
| Posted: Fri Jul 06, 2007 4:25 pm Post subject: |
|
|
I have three. |
|
| Back to top |
|
|
coinman101
User is Offline
Joined: 14 Jun 2007
Posts: 92
|
| Posted: Fri Jul 06, 2007 4:29 pm Post subject: |
|
|
And I own the other two! 
Wow, those are some expensive coins.
_________________
Colin  |
|
| Back to top |
|
|
AdamL
User is Offline
Joined: 20 Apr 2007
Posts: 540
Location: Central Missouri
|
| Posted: Fri Jul 06, 2007 10:24 pm Post subject: |
|
|
How much gold is in one of those coins???
I personally went with the platinum 10,000,000 coin.
_________________
-Adam |
|
| Back to top |
|
|
TreasHunt
User is Offline
Joined: 18 May 2007
Posts: 314
|
| Posted: Sat Jul 07, 2007 4:22 am Post subject: |
|
|
Adam:
Nice, I missed those platinums.
Perhaps next year-- lower mintage. |
|
| Back to top |
|
|
Royalist0007
User is Offline
Joined: 21 Mar 2007
Posts: 232
Location: Wellington,New Zealand.
|
| Posted: Tue Sep 04, 2007 5:01 pm Post subject: |
|
|
Frank,you don't have to worry about reporting the Canadian Coinzilla for listing in Krause,as I had already reported it a few days after they started being issued.They've got over US$1,000,000 worth of gold in them,& they were being sold for C$3,000,000.
Aidan.
_________________
You can now find the British Commonwealth Numismatic Forum here; http://www.smffree.com/forums/bcnumismatics .
There is a Real Names Policy in force! |
|
| Back to top |
|
|
Topher
User is Offline
Joined: 15 Apr 2007
Posts: 293
Location: Toronto, Canada
|
| Posted: Tue Sep 04, 2007 5:38 pm Post subject: |
|
|
| AdamL wrote: |
How much gold is in one of those coins???
I personally went with the platinum 10,000,000 coin. |
I think it was 1kg of gold. It is the size of a pizza box. Imagine bringing that out to show the dinner guests!  |
|
| Back to top |
|
|
Royalist0007
User is Offline
Joined: 21 Mar 2007
Posts: 232
Location: Wellington,New Zealand.
|
| Posted: Tue Sep 04, 2007 5:54 pm Post subject: |
|
|
Chris,the Coinzilla is huge - 100 kg.! I can guess that both Charlton & Krause will have trouble showing pictures of it.They'd have to use 2 pages to show the British Commonwealth's largest medal-coin.
Aidan.
_________________
You can now find the British Commonwealth Numismatic Forum here; http://www.smffree.com/forums/bcnumismatics .
There is a Real Names Policy in force! |
|
| Back to top |
|
|
Topher
User is Offline
Joined: 15 Apr 2007
Posts: 293
Location: Toronto, Canada
|
| Posted: Tue Sep 04, 2007 7:05 pm Post subject: |
|
|
Aidan, you're right. After I posted it, I realized that there was no way it would only weigh 1kg! LOL. I knew it was a nice round figure, though. Oh well, I guess I should have looked it up before I posted.  |
|
| Back to top |
|
|
|
|
|
|
