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Monday, June 28, 2010

Largest Gold Coin in World Sold for over $4 Million


Credit: REUTERS/Heinz-Peter Bader

The largest gold coin was put on the auction block in Vienna on Friday, and sold for an astounding $4.02 million.

Acquiring the gold coin was Spanish precious metals trading company ORO, who bid on it unopposed. The coin weighs in at 220.5 pounds.

Investment firm AVW Invest had owned the coin, but was ordered to sell it by the administrator of the bankruptcy proceedings of the company, whose CEO and owner was arrested on a number of charges related to the company.

AVW owned the coin since 2007, which was struck by the Royal Canadian Mint, and one of only five in existence.

The coin is also 21 inches in diameter and is made of the purest gold on the market - 99.999 percent.

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