Gold Kangaroo hits NYC

THE Perth Mint’s iconic Australian Kangaroo One Tonne Gold Coin will be on display for one day only in New York City.
Gold Kangaroo hits NYC Gold Kangaroo hits NYC Gold Kangaroo hits NYC Gold Kangaroo hits NYC Gold Kangaroo hits NYC

The Australian Kangaroo One Tonne Gold Coin being prepared for transport from Perth to New York

Staff reporter

The coin will be displayed out the front of the New York Stock Exchange on Tuesday, July 16 to celebrate the official launch of the Perth Mint Physical Gold Exchange Traded Fund (NYSE Arca: AAAU) on the NYSE.

Cast by the mint, the Australian Kangaroo One Tonne Gold Coin is recognised by Guinness World Records as the largest coin ever created.

Tipping the scales at 1,000kg of 99.99% pure gold, and measuring 80cm wide and 13cm deep, the coin is valued at more than A$60 million.

Perth Mint CEO Richard Hayes encouraged New Yorkers to come down to the NYSE to ‘say g'day'.

"To bring our award winning coin and our first exchange traded fund to the world's largest financial market is something my colleagues in the Australian gold mining industry, at The Perth Mint, and I are particularly proud," he said.

At the end of the Wall Street trading day, Hayes will be joined by senior executives from the mint and their US counterparts who worked to bring the fund to market, to ring the closing bell.

"It is an extraordinary occasion for an Australian organisation to be granted the honour of ringing the bell at the world's most famous stock exchange," Hayes said.

The AAAU ETF part of the mint's commitment to take Australian gold global.

"Given the maturity of the American market and the understanding by US investors of the importance of holding gold in any wealth portfolio, it was an obvious choice to bring AAAU to market in the world's share trading capital," Hayes said.

"The fund may be considered a modern investment option for even the most conservative of investors as it offers several features which potentially provide investors with comfort that their gold is easily accessible and safeguarded.

"Every AAAU share is backed by physical gold stored in our central bank grade vaulting facilities in Perth, so at any time investors may choose to exchange part or their entire holdings for a delivery of physical gold to their door.

"Even more importantly, the physical gold that backs each AAAU share is guaranteed by our sovereign owner, the government of Western Australia."