# I’d buy one for £10,000

A giant gold coin weighing 22lb (10kg) and worth £10,000 has been produced.

Lessee – 30 odd troy ounces to a kilo, 22 lbs is 10 kg (sorry, but these are the numbers that stick in the head) and \$2,000 a troy ounce for gold. Roughly, between friends.

So that’s \$600,000 for sale for £10,000. Send me a truck load.

The mint said the price of the £10,000 denomination gold version was available on application.

Ah, bugger.

## 10 thoughts on “I’d buy one for £10,000”

1. Pendancy.
Which 22lb> Imperial or Troy? There’s 12 troy ounces in a troy pound so I only make that 8kg odd

2. Should have explained the pendancy, to be pendantic.
Gold is ONLY measured in Troy or metric. So an Imperial pound of gold doesn’t exist.

3. All bullion coins have a face value a lot lower than the metal’s spot price (e.g. a 1oz silver Britannia is ‘worth’ £2). IIRC there was a scheme at the start of the Obama era to mint a trillion-dollar platinum coin to pay off the national debt.

4. I seem to remember the Clinton administration got close to paying off the national debt, but worked out that if they did they’d kill the gilts market or something.

5. I have some bullion which I bought and store through Bullionvault. (Great company by the way). Although people tend to think of gold and quote its price in terms of ounces, the market reality is metric. The minimum unit of sale / purchase is 1 gramme. The current price of gold (mid market) is £40, 937 per kilo. So 10kg = £409, 370. (if solid gold). Paying any more than that for this giant coin is pure value destruction.

https://www.bullionvault.com/gold-price-chart.do

6. where are we with debasing the coinage ?