New 100 kilo Gold Coin

The Royal Canadian Mint is soon to release a new 100 kilo gold coin. A launch is planned in April 2007 for the worlds largest solid gold coin, a 100 kilogram coin which will carry the face value of million dollars.

This coin will feature a brand new Maple Leaf design and will be 99.999 percent pure gold. Purer than even the current Canadian Mint coins.

Until this coin is launch the current biggest coin on the market is the 31-kilogram coin made by the Austrian Mint. Dubbed "Big Phil" after its namesake the Vienna Philharmonic Orchestra. This Austrian coin has a face value of 100,000 euros ($152,500 Canadian).

It has been considered that the Canadian Mint is working to regain some lost ground with the Austria, Australia, the U.S. and China gold coins now matching the Canadian in quality and gold content. For some years the Canadian coins dominated the coin collecting market due to their high quality and purity of gold.

At 100 kilograms, the metal in the new Maple Leaf coin will be worth more than twice its face value, based on gold's current price of $684 (U.S.) an ounce.

Most mints usually keep the face value of these types of coins fairly low to ensure they are not used as legal tender although of course they can. There is a fear of consumers appearing at banks and demanding they be 'cashed in'

In fact these type of coins are better kept and not spent as the value of gold continues to rise then such coins will increase in value over the coming years.

It would be a good idea to keep an eye out for the new 100 kilo gold coin and, if possible, buy one as soon as it is issued.