You'd need mighty deep pockets to jingle the new coins planned by the Royal Canadian Mint: Canada's official money-maker wants to stamp out a $1-million coin.
Coin experts say it would likely be made of gold, be the size of a pizza and be extremely heavy. Some numismatists wonder if it would be a good idea.
The federal cabinet passed an order earlier this month at the recommendation of the transport minister allowing the mint to stamp out the non-circulation coins.
The editor of Canadian Coin News, Bret Evans, said if it goes forward it would be the first of its kind in the world, the mint's attempt to create a record-breaking coin.
"The coin becomes an event," Evans said. "It's purely being done to get attention. To throw something on the market, to make a statement which is, 'Here we are.'"
There's no word on how many coins the mint is looking at stamping out. Mint officials acknowledge they have permission to make a $1-million coin, but will not comment beyond that.
Coin experts are talking, though, and among those questioning the project is Regina dealer George Manz, who wonders who would buy the mint's mega-loonie.
"The people that I know, if they're going to go and spend $1 million on a coin, they want something that is extremely rare," he said.
On the other hand, Evans notes that the last time such a special coin was made — €100,000 from Austria — all 15 sold out in less than a month.
The $1-million loonie, he figures, would weigh around 100 kilograms — about the weight of a typical hockey player.
