Gigantic gold coin causes a stir in New York

The Perth Mint has shipped the largest gold coin in the world to New York to promote the launch of its new gold ETF.

This gold coin is a ton heavy. That’s 32,150 ounces. It has a diameter of almost a meter and is just under 13 inches thick. Its current value at the gold price of 1,250 euros is 40.18 million euros. The giant kangaroo of the Perth Mint was shipped from Australia to New York. Under high security and under the open sky, the golden gem was finally exhibited for a day right in front of the New York Stock Exchange on Wall Street.

The gold coin is used by the company to promote its new, publicly traded gold fund. The name: Perth Mint Physical Gold ETF (AAAU). According to Perth Mint, this is the first gold ETF guaranteed by a government. The deposited gold is stored in large part directly at the Australian Mint.

“Everything people do to promote gold helps the industry, and that’s what we’re doing with this one-ton gold coin. It’s about making gold known, it’s about showing interested people that a huge amount of money can be stored in such a small space, “says Perth Mint head Richard Hayes to Kitco News.