1-Ton Gold Coin Lands on Wall Street

Written by Staff Writer

WallStreetA Gigantic Gold Coin Makes Its Way to Wall Street -Wall Street Journal
"Richard Hayes plans to leave a $45 million coin on the streets of Manhattan all day Tuesday, but he isn't particularly worried about a thief carting it off. The coin - with Queen Elizabeth's profile pressed onto one side and a mid-hop kangaroo on the other - is beyond the wiles of the average pickpocket. It measures nearly 32 inches in diameter and is almost 5 inches thick. Oh, and it weighs about 2,200 pounds...

Mr. Hayes is the chief executive of the Perth Mint, one of the world's largest gold refiners. He flew to the U.S. from Australia with the world's largest gold coin in tow, on a publicity tour....The price of gold surged to a six-year high this month and stands at $1,413.50 a troy ounce as of Monday. Its run-up since the end of May has added about $3.3 million to the value of the giant coin, if it were to be sold simply for its weight in gold....One of the six Big Maple Leaf coins made by the Royal Canadian Mint (weighing 221 pounds each) was lent to a Berlin museum in 2017, where it was promptly swiped. The heist made 'Ocean’s 11' look way too complex: These thieves climbed a ladder, forced open a window, smashed the security case and rolled away the giant coin in a wheelbarrow. Four men, including a museum guard, were arrested several months later, but the coin was never recovered."