Feb 15 2008 |
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World's largest gold bullion coin unveiled in Dubai
DUBAI -- A 100-kg gold coin, "99.999 per cent pure gold bullion", from the Royal Canadian Mint (RCM), was unveiled in Dubai on Wednesday evening at the Canadian National Day reception.The world's largest gold bullion coin, as certified by the Guinness World Records, is valued at more than $3.5 million.
The UAE is the first place, besides the North America, where the coin is being displayed. Earlier this week, the coin was displayed in Abu Dhabi.
The Canadian National Day celebration was hosted by the Canadian Embassy and the Canadian Business Council.
Minted with precision in casting, the 100-kg gold coin, with its smooth finish, was the cynosure of all eyes. Since 2007, five coins have been minted by RCM so far and four have been sold in Canada, Europe and the US. The RCM, which is celebrating its 100 years this year, in fact, has been minting coins for the UAE since 1988.
The coin, with a $1 million face value, was originally conceived as a showpiece to promote the RCM's new line of 99.999 per cent pure one-ounce Gold Maple Leaf bullion coins. Beverley A. Lepine C.A, COO of RCM, told Khaleej Times, "The reason to bring it here is because the UAE is known for its sophisticated and knowledgeable gold investors and we have an excellent relationship with the UAE Central Bank. Besides, the UAE is a gateway to the Middle Ease and India."
She added that the purpose of bringing this coin is to showcase the RCM's capabilities and also promote their one ounce, pure gold coin, which they hope sophisticated investors would buy.
"The Canadian Embassy in the UAE is proud to host a celebration which allows us to showcase Canada's best," said Sara Hradecky, Canadian Ambassador to the UAE, while adding that Canada had much more to offer the UAE as a trade partner.
"We are delighted that the Royal Canadian Mint's 100-kg bullion coin could be brought here as a shining symbol of Canadian talent and excellence," she said. The 100-kg coin is cast and minted as per demand and is yet to be purchased by anyone in the UAE.
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