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World's Largest Gold Coin Lands in New York

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(Kitco News) - Perth Mint made history on Tuesday by bringing the world's largest gold coin to the NYSE.

The coin, weighing in at 1 tonne, holds the Guinness World Record for the world's largest, is valued close to $45 - $50 million at market prices, with spot gold last trading at $1,411.10 an ounce. The coin's unveiling at the NYSE marks the Perth Mint's launching of its gold-backed ETF, the Perth Mint Physical Gold ETF (NYSEArca: AAAU).

AAAU is the world's first government-backed gold ETF, with the majority of the fund's gold vaulted at the Perth Mint. Richard Hayes, CEO of the Perth Mint, told Kitco News that this is the first time the coin visited the U.S.

He noted that aside from celebrating the launching of the AAAU ETF on the NYSE, Perth Mint also hopes to bring awareness to the industry.

"Everything that people do to promote gold just helps the industry, and that's what we're doing as well with this one tonne gold coin. It's about publicizing gold, it's about publicizing you can have in something relatively small and those people who are interested in having gold as part of their portfolio can see that you can store a tremendous amount of money in something so small," Hayes said.

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This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.

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