World largest gold coin fetches three mln euros at auction

25th June 2010, Comments 0 comments

An example of the largest gold coin in the world fetched 3.27 million euros (4.02 million dollars) at auction on Friday in Vienna, auction house Dorotheum said.

The coin -- measuring 53 centimetres (21 inches) in diameter and weighing 100 kilograms (220 pounds) -- was bought by Spanish precious metals firm Oro Direct.

The Maple Leaf coin, which is listed in the Guinness Book of World Records and carries a face value of one million Canadian dollars (800,000 euros, 970,000 US dollars), was minted in Canada in 2007.

However, with gold currently trading close to record highs around 1,250 dollars an ounce, the coin was auctioned off for far more than its face value.

One side of the coin carries the image of Queen Elizabeth II, the official head of state of Canada, while the other side bears three maple leaves, the national symbol.

The coin was owned by Austrian investment firm AvW, which entered bankruptcy proceedings in May.

© 2010 AFP

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