A gigantic gold coin makes its way to Wall Street

Section:

By Asjyiyn Loder
The Wall Street Journal
Tuesday, July 16, 2019

Richard Hayes plans to leave a $45 million coin on the streets of Manhattan all day today, but he isn't particularly worried about a thief carting it off.

The coin -- with Queen Elizabeth's profile pressed onto one side and a mid-hop kangaroo on the other -- is beyond the wiles of the average pickpocket. It measures nearly 32 inches in diameter and is almost 5 inches thick.

... Dispatch continues below ...


ADVERTISEMENT

Kinesis Engages Contis to Launch UK, European Debit Card for Its Digital Gold and Silver Currencies

Company Announcement
Tuesday, June 4, 2019

LONDON -- Today Kinesis Money announces the initiation of its U.K. and E.U. debit card program with Contis Group, the award-winning platform as a service that provides end-to-end banking and payments solutions. Kinesis has selected Contis for its European and UK debit card solutions and has officially started developments, scheduled for release in Q4.

The release of these euro- and pound-denominated debit cards will cement Kinesis' position in the market as a formidable global fintech player. The Kinesis debit card will allow Kinesis' clients in the U.K. and Europe to easily and efficiently use their Kinesis currencies to make purchases anywhere that has a merchant facility, as well as withdraw funds via global ATM networks. ...

... For the remainder of the announcement:

http://www.gata.org/files/Kinesis-Contis-06-04-2019.doc



Oh, and it weighs about 2,200 pounds. (That is more than 32,000 troy ounces, for the precious-metals buffs out there.)

Mr. Hayes is the chief executive of the Perth Mint, one of the world’s largest gold refiners. He flew to the U.S. from Australia with the world's largest gold coin in tow, on a publicity tour for his exchange-traded fund.

What people don’t understand about gold, Mr. Hayes says, is how much it weighs—probably because Hollywood gets it so wrong. A cubic foot of iron weighs about 491 pounds. The same volume of gold tips the scales at 1,206 pounds. ...

... For the remainder of the report:

https://www.wsj.com/articles/a-gigantic-gold-coin-makes-its-way-to-wall-...

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Friday-Monday, November 1-4, 2019

https://neworleansconference.com/

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16