“The pinnacle of ingenuity and innovation”? Australia issues $1 million coin made with $55 million worth of gold
Perth Mint chief executive Ed Harbuz calls it “the pinnacle of ingenuity and innovation,” but this idea sounds crazy silly to me.
Australia’s Perth Mint had produced a $1 million (in Australian currency) coin made almost entirely of gold (99.99% to be exact.) The weight? A ton. This is a $1 million coin that’s made of a ton of gold. When you think for a minute how high gold is these days, logic starts to deconstruct.