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Money Crisis: Back To Gold Sovereigns?

  • October 28th, 2011
  • Posted by EUEditor

gold-coin.jpgA bizarre answer to cravings for a safe investment in troubled times …  purchase, and hold onto a one-tonne gold coin from the Australian mint at Perth.

The mint says it wanted to upstage competitors in the money-making business, (money-making in the most literal sense), which to date had no bigger than a mere 100-kilogram brass razoo of a coin on offer.

THIS ONE is 80 centimetres in diameter, and 12 centimetres at the edge, being priced at over A$50-million … a worthwhile nest egg for the canny investor, though management-wise more than a precious trinket for under the pillow.

The object, modelled by CEO Ed Harbuz in this commemorative picture from the Perth Mint, sports a kangaroo on one side and a Queen’s head on the other.

A team of a dozen poeople are said to have been working on  it for most of this year.

The price tag tallies with current rates at the online Mint money shop, where a one-kilogram gold bar can be had this week for A$52,457.69, see…, (28.10.11).